PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1076960
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1076960
The global Digital Genome market is estimated to be worth $11,950.5 million in 2021. Digital Genome market is expected to expand at an 9.1% CAGR during the forecast period.
Market Introduction
A Digital genome is a comprehensive digital collection of genetic material that exists in a cell or organism. It's a more convenient way to collect data on chronic conditions, and it's used by experts to gain a better look into hereditary issues. A digital genome acts as a supporter, allowing for fast access to trait sequences in order to answer endless unique inquiries. Digital genomics is concerned with genes and their actions, and it aids in the detection of chronic disease causes.
This technology has sparked a revolution in invention-centered research and systems biology, allowing researchers to gain a better understanding of even the most complex genetic systems. In reproduction and genetics, microbiology, transplantation, livestock and agriculture, forensics, and research and development, the digital genome finds uses. Academics and research institutes, diagnostics and forensic labs, hospitals, and biopharmaceutical businesses are among the digital genome's end-users.
Market Dynamics
The Digital Genome Market is growing due to increasing technology breakthroughs and increased awareness about the usage of genomes for the diagnosis of diseases such as cancer, diabetes, and ADHD. Furthermore, in order to better this strategic planning, the institution will enlist the help of specialists and members of the public to identify other areas of genomics, which will lead to more creative applications in human health and illness treatment.
The broad use of microorganisms in the diagnostics business, as well as the growing application in next-generation sequencing, will further drive the growth of the digital genome market. Furthermore, an increasing number of private and governmental initiatives and funds are optimistic about the Global Digital Genome Market's future growth. For instance, the Beyond 1 million genome or '1+ Million Genomes' (1+MG) initiative by Europe brings together 22 EU countries along with the UK and Norway to have at least 1 million sequenced genomes accessible in the EU by 2022. The initiative has the potential to allow for more personalized treatments, improve disease prevention, and provide new impactful research
Segmentation Analysis
Digital Genome Market is segmented By Product, Application, End-User, and Geography. Based on end-user, the pharma and biopharma companies will witness the fastest growth of 9.5% during the forecast period. The digital genome market is predicted to rise rapidly in the next years, owing to the increasing use of precision medicines, which could present lucrative growth opportunities for this market. The growing use of digital genomics in next-generation sequencing and the widespread use of microorganisms in the diagnostics business will propel the industry forward. Furthermore, an increasing number of private and public investments are expected to drive market growth in the next years. The development of biotechnology has resulted in the manufacture and commercialization of GMOs. These organisms offer a wide range of uses in research clinical diagnosis, which will help the industry flourish. Furthermore, biotechnology companies are using revolutionary methodologies to replace the old methodology of gene sequencing in plants. For example, the Bt gene from Bacillus thermogenesis was utilized to generate Bt cotton, which is used to provide insect resistance. The breakthrough has had a favorable impact on the field of digital genomics. Nonetheless, factors such as a lack of understanding about digital genomes, patient data security and privacy, and inaccurate results are anticipated to stymie market growth over the forecast period.
Competitive Landscape
Players compete and collaborate to achieve a significant market share in this fairly fragmented because of the presence of a number of market players. The companies are focusing on initiatives such as expansions, product launches, and product enhancements to gain a large portion of the Digital Genome market. For instance, In November 2021, Illumina and Helix OpCo announced a collaboration to improve the national surveillance infrastructure in the US in order to track the emergence and prevalence of strains of SARS-CoV-2 using Illumina's sequencing technology Helix's national COVID-19 testing footprint. In addition, in 2020, China-based BGI also announced the expansion of its distribution network in South America for its DNA sequencing products.
Key features of the study:
This proposed research study on Digital Genome market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2022-2028), considering 2021 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Digital Genome market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Digital Genome market.
Impact of COVID-19 on Digital Genome market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Digital Genome market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Digital Genome market, we have also included competitive landscape and key innovator analysis for the Digital Genome market
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Digital Genome market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Digital Genome market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
Global Digital Genome Market Key Players
bioMerieux
NanoString Technologies
Perkin Elmer
GenMark Diagnostics
GenomeMe
QIAGEN
Illumina
Thermo Fisher Scientific
Agilent Technologies
Pacific BioScience
Global Digital Genome Market by Product
Sequencing & Analyzer Instruments
DNA/ RNA Analysis Kits
Sequencing Chips
Sequencing & Analysis Software
Sample Preparation Instruments
Global Digital Genome Market by Application
Microbiology
Reproductive & Genetic
Transplantation
Livestock & Agriculture
Forensics
Research & Development
Global Digital Genome Market by End User
Hospitals
Bio-Pharmaceutical Companies
Diagnostics & Forensic Labs
Academic Research Institutes
Global Digital Genome Market by Region
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa