Nanotechnology supported Bioinformatics Industry to grow at 31% by 2010

Bioinformatics applications could be instrumental in providing the first major break-through to nanotechnology. There have already been some early successes in this field like nanoparticulate synthetic bone substitute and antimicrobial dressings, and nanocomposite packaging materials that increases the shelf life of food products.

Over the past few years the ever changing market of Bioinformatics applications have acquired wide acceptance owing to decline in the manufacture of new drugs, absence of potential drugs and expiry of patents. This market with revenue of $1.4 billion in 2004-05, has been competing with other Bioinformatics companies, facilitating R&D for the unusual and innovative tools critical to its success.

As per the recent market research report "World Bioinformatics Market [2005-2010" published by RNCOS, the global market for nanotechnology in Bioinformatics applications is expected to exceed $900 million in 2005 and about $3.5 billion by 2010, increasing at an average annual growth rate of approximately 31%. The report also forecasts Agro-technology to increase its share from 5.1% to 13.4% by 2010.

The convergence of biotechnology, nanotechnology and computing has forged a way for mergers between industries. The future may see an alliance between pharmaceutical and nanotechnology or computing firms, in areas of research and IT capabilities. There maybe alliances between pharmaceutical, software and very strong marketing firms. This field could very soon witness the entry of computing and telecommunication firms also.

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