The digital genome market was valued at US$ 11,065.31 million in 2019 and is projected to reach US$ 20,812.81 million 2027; it is expected to grow at a CAGR of 8.4% from 2020 to 2027.
The digital genome market was valued at US$ 11,065.31 million in 2019 and is projected to reach US$ 20,812.81 million 2027; it is expected to grow at a CAGR of 8.4% from 2020 to 2027.
Digital genome is a complete digital set of genetic material that present in an organism or a cell. Digital genome technology deals with genes and their functions to find the causes behind the chronic diseases and also to fix them. The technology is associated with the advancements that help to make healthcare more personal and more effective for the treatment. Moreover, the digital genome is an easier way of gathering information about the chronic disease. The technology is used by the professionals to get a closer look of genetic composed diseases, such as cancer. Digital genome acts as a supporter that enables instant access to trait combinations to solve apparently endless custom queries.
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Here we have listed the top Digital genome Market companies
THERMO FISHER SCIENTIFIC INC., F. HOFFMANN-LA ROCHE LTD, Illumina, Inc., QIAGEN, GenomeMe, NanoString Technologies, Inc., BD, bioMerieux SA, GenMark Diagnostics, Inc., and Perkin Elmer, Inc. are among the leading companies operating in the digital genome market.
Based on product, the global digital genome market is segmented into DNA/RNA analysis, sequencing chips, sequencing and analyzer instruments, sample prep instruments, and sequencing and analysis software. The sequencing and analyzer instruments segment held the largest share of the market in 2019; however, the sequencing chips segment is estimated to register the highest CAGR in the market during the forecast period.
Genomic sequencing technology is rapidly transitioning into clinical practice, and implementation of the same into healthcare systems has been supported by substantial government investment, accounting for ~US$ 4 billion in at least 14 countries. These national genomic-medicine initiatives are driving transformative change under real-life conditions while simultaneously addressing barriers to implement and gather evidence for broader adoption, thereby driving the market growth. Moreover, the UK has announced the world’s largest genome project as part of 200 million public–private collaboration between charities and pharmaceuticals. The UK has already developed the largest genome database in the world through the 100,000 Genomes Project. Led by Innovate UK as a part of UK Research and Innovation, the project will fund researchers and industry to combine data and real-world evidence from UK health services and create new products and services that diagnose diseases efficiently. Additionally, in November 2018, Stilla Technologies announced that it has completed a US$ 18.3 million (€16 million) Series A financing round led by Illumina Ventures. The company will use the funds to commercialize its Naica digital PCR system and develop clinical applications.
The digital genome market is expected to grow owing to factors such as increasing prevalence of chronic diseases and growing funding for genomics. However, dearth of skilled professionals is likely to restraint the growth of the market during the forecast years.
Digital Genome Market – By Product
- Sequencing and Analyzer Instruments
- DNA/RNA Analysis
- Sequencing Chips
- Sample Prep Instruments,
- Sequencing and Analysis Software
Digital Genome Market – By Application
- Diagnostics
- Agricultural
- Academic Research
- Drug Discovery
- Personalized Medicine
- Other Application
Digital Genome Market – By End User
- Diagnostics and Forensic Labs
- Academic Research Institutes
- Hospitals
- Other End User
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