Report projects bright future for bioinformatics

Posted: Tuesday, Jul 26, 2005 at 0000 hrs IST
Updated: Tuesday, Jul 26, 2005 at 0000 hrs IST

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New Delhi, July 25: The Indian bioinformatics market has the potential to increase its current share of 2.5% to 5% of the global market, according to a report prepared by the Confederation of Indian Industry (CII) and the Department of Information Technology (DIT). But to achieve this target, the report asserts, the industry would need a compound annual growth rate (CAGR) of 42%.

Painting a rosy picture, the report states that 42% of the sample companies are planning to increase the scale of businesses because they are investing more in R&D and product development. It also adds that for expanding operations, there will be a huge surge in the demand for bioinformaticians.

According to the report, the industry would need a total of around 6484 professionals a year to achieve a CAGR growth rate of 42% in 2008-09 and 26362 professionals in 2012-13. Further, the report estimates that nearly 670 teachers would be required in the formal education sector in 2008-09.

FUTURE PERFECT

BSILVER LINING
• 42% of companies are likely to invest more in R&D and product development, which will result in a huge surge in the demand for bioinformaticians
LATENT TALENT
• There will be an increase in the global demand for Indian bioinformatics professionals in view ...

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