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Predicting the future of any science is almost impossible, especially for one as young as the Bioinformatics field, but the future of biology will increasingly be shaped with bioinformatics. Bioinformatics and its infrastructure have gone through several interchanges in the last decade. So, let us read further to know the future of bioinformatics.
Despite the fatigue, Bioinformatics has gone perhaps to a point beyond recognition. Everyone is talking about Bioinformatics, the newest buzzword in science, and is quickly becoming an essential tool for biotechnology researchers.
It has become an area of utmost importance for the growth of genomics, proteomics, and microarray. The ultimate objective of informatics is to develop new biological insights that can be used for the good of humanity.
During the last decade, there has been explosive growth in biological data. Due to advancements in nucleotide sequence technology, the nucleotide database’s contents typically double every ten months.
GenBank released 160 databases in June 2007, which exceeded 174 million base pairs. This is because the large sequencing projects produce enormous quantities of the nucleotide sequence. Bioinformatics has great promises and relevance in managing such a large amount of data.
According to the market analysis, the Commercial Bioinformatics market totaled US$ 500 million in 1997. This amount was spent by the pharmaceutical and Biotechnology industries on bioinformatics data and its software. And this amount is estimated to have doubled in 1999.
Significant discoveries in the Bioinformatics field are;
Bioinformatics has also evolved gradually due to the improvement of the computational technique with time. It is a valuable tool in research and drug development. Our thrust area in the field of genomics, proteomics, and drug discovery during the last two decades has been well perceptible.
India became the first country to establish the National wide Bioinformatics system (BTISnet) in 1986 by the Department of Biotechnology.
Now, Bioinformatics has attracted the attention of several companies and entrepreneurs. The Persistent Market Research has predicted that by the end of 2021, the global Bioinformatics market will reach $12.54 billion, which at present is $4.11 billion.
The Bioinformatics market is growing at present Compounded Annual Growth Rate (CAGR) of 20.4 %. Factor enhancing are growth, research, and development in genomics and proteomics and increasing application in drug discovery, personalized medicines, and clinical diagnosis.
STRAND GENOMICS, the first Bioinformatics company of India, started in November 2008, is a bioscience knowledge management company that has changed its corporate identity to “STRAND LIFE SCIENCE” since 2005.
In bioinformatics, the career prospect also increased since the merging of the different biological areas. The career in Bioinformatics is very lucrative and possesses a great future since many companies have created avenues for biotechnologist freshers.
Bioinformatics is advancing rapidly possessing vast scope in biotechnology and leading the future of drug development to find a cure for the genetic disorder and fundamental understanding of the living system after the human genome project.
However, Bioinformatics globally is at an early stage of development, but as a career, Bioinformatics is very lucrative and possesses a great future. Since many companies like silicon genetics, IBM life science, Pubgene, Tesella, and Wipro, TCS has created avenues for the bioinformatics specialist due to the substantial growth of the bioinformatics market.
India has become the first country that take a giant step to establish the Bioinformatics infrastructure. Now Bioinformatics has attracted the attention of several companies and entrepreneurs and sped up the development of bioinformatics. The knowledge of bioinformatics is beneficial and is directly being applied in biological science, including biotechnology, agriculture, medical sciences, and environmental science.
Due to research in various fields of biotechnology, a tremendous amount of biological data has been generated, and bioinformatics services are being utilized.