Austria Bioinformatics Market Analysis

Austria Bioinformatics Market Analysis


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The Austria Bioinformatics market is projected to grow from $61.4 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. The main factors driving the growth would be the growing healthcare industry, increasing focus on precision medicine, and government support. The market is segmented by technology and by application. Some of the major players include BiomeDx (AUT), myBioma (AUT), Sola Diagnostics (AUT), Agilent Technologies, and IBM Life Sciences.

ID: IN10ATHS001 CATEGORY: Healthcare Services GEOGRAPHY: Austria AUTHOR: Neha Davda

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Austria Bioinformatics Market Executive Summary

The Austria Bioinformatics market is projected to grow from $61.4 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. In 2019, national healthcare spending in Austria as a percentage of GDP reached 10.43% achieving $5,242 per capita. In 2019, Austria had the third-highest per-capita health spending in the EU. While spending on prevention is lower than normal, Austria spends significantly more than most nations on hospital inpatient care.

Bioinformatics is an application of computer technology to comprehend and utilize biological and biomedical data effectively. It is the field responsible for storing, analyzing, and interpreting big data produced by life science research or gathered in a clinical setting. In the global bioinformatics market, Europe holds the second-largest market share.

austria bioinformatics market analysis

Market Dynamics

Market Growth Drivers

The Austria bioinformatics market is expected to be driven by factors such as the growing healthcare industry, increasing focus on precision medicine, and government support. Also, reputable academic and scientific institutes exist in Austria, including the University of Vienna, which is engaged in cutting-edge bioinformatics and related disciplines research.

Market Restraints

And limited awareness of bioinformatics applications and the high cost of research and development of bioinformatics tools. Further, in Austria, there is little industry-academia collaboration, which could hinder the translation of research discoveries into marketable goods and services.

Competitive Landscape

Key Players

  • BiomeDx (AUT)
  • myBioma (AUT)
  • Sola Diagnostics (AUT)
  • Agilent Technologies
  • IBM Life Sciences

Healthcare Policies and Regulatory Landscape

Austria's healthcare policies are geared toward ensuring that everyone has access to medical care through a publicly funded healthcare system. The major objective of the healthcare system is to guarantee that everyone in the country, regardless of their financial or social standing, has access to high-quality medical care. The creation of healthcare policy and the regulation of healthcare services fall within the purview of Austria's Federal Ministry of Health, which is also in charge of overseeing the entire healthcare system. To ensure that medical items and equipment are registered and certified in line with the EU Medical Devices Regulation (MDR), the Medical Devices Registration Office (MDRO) is in charge. Compliance with data privacy and security laws, notably the EU General Data Protection Regulation (GDPR), is the responsibility of Austria's Data Protection Authorities.

Reimbursement Scenario

In Austria, the federal and regional levels of government each have a specific role to play in the governance of the healthcare system. Social health insurance (SHI) and the majority of aspects of the delivery of healthcare are governed by federal law. The nine states control and organize hospital care inside their borders and are in charge of outpatient and inpatient care implementation, organization, and finance, as well as hospital investment. As they negotiate collective agreements that govern ambulatory care, rehabilitative care, and medications, the SHI funds and providers play a crucial role. The funding of health care is distributed at the federal level, the regional level (states and municipalities), and SHI funds.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Bioinformatics Market Segmentation

By Technology (Revenue, USD Billion):

  • Knowledge Management Tools
  • Bioinformatics Platforms
  • Bioinformatics Services

By Application (Revenue, USD Billion):

  • Metabolomics
  • Molecular phylogenetics
  • Transcriptomics
  • Chemoinformatic & drug design
  • Genomics
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 29 January 2023
Updated by: Riya Doshi

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