Digital Genome Market Set for Rapid Growth, to reach Value around USD 92.01 Billion by 2028
Zion Market Research has published a new report titled “Digital Genome Market by Product (Sequencing & Analyzer Instruments, DNA/ RNA Analysis Kits, Sequencing Chips, Sequencing & Analysis Software, and Sample Preparation Instruments), by Application (Microbiology, Reproductive & Genetic, Transplantation, Livestock & Agriculture, Forensics, and Research & Development), and by End User (Academics & Research Institutes, Diagnostics & Forensic Labs, Hospitals, and Bio-Pharmaceutical Companies): Global Industry Perspective, Comprehensive Analysis and Forecast.
According to the report, Digital Genome Market size was valued at USD 22.7 Billion in 2020 and is projected to reach USD 92.01 Billion by 2028, growing at a CAGR of 19.1% from 2021 to 2028.
A set of genetic material that occurs in every cell of an organism is known as digital genome. Digital genome is a simple method to collect information about chronic diseases which can be used by experts to get near and clear look of genetic disorders present in the cell. Digital genome provides easy and fast access to trait sequences to solve unending queries. The functions offered by digital genome help in finding and resolving the causes behind chronic disorders and also help in dealing with the genes. The technology has created a revolt in systems biology to fast-track the insights of invention-centered research and most complex genetic systems.
Biotech firms are replacing the traditional gene sequencing methods to new techniques. Biotech inventions have led to production, commercialization of genetically modified organisms and advancements in GMO’s. GMO’s have various applications in research and clinical diagnosis which is further contributing in the industry growth. For instance, the development of BT cotton has provided resistance against pests which has created positive impact on the digital genomic industry. But, factors like lack of awareness regarding digital genome, privacy & security of patient data, and incorrect results are hindering market growth.
The market for digital genome is segmented based on product, application, end user, and regions. Based on product the market is segmented into sample preparation instruments, sequencing chips, sequencing & analyzer instruments, sequencing & analysis software, and DNA/ RNA analysis kits. The segment for sequencing & analysis software held major share of the market in 2018. Technology advancements in software packages for evaluation and fabrication of genomic sequence data is propelling market growth for this segment globally.
Based on application the market is segmented into transplantation, microbiology reproductive and genetic, research and development, livestock and agriculture and forensics. The segment for research and development accounted for major share in 2018 due to large number of public and private investments and surge in number of research grants. Based on end user the market is segmented into hospitals, diagnostics & forensic labs, academics and research institutes, and bio-pharmaceutical companies. Research institutes and academics segment held major share in 2018, owing to number of applications offered by genome sequencing techniques in the targeted drug treatments.
Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. North America and Europe held major share of the market in 2018 owing to rising geriatric population base and well established healthcare infrastructure along with continuous innovations, novel product launches and high-end technology which is positively impacting the market growth in this region.
Some of the players included in digital genome market are -
- NanoString Technologies
- Qiagen
- Becton Dickinson and Company
- Biomerieux
- F. Hoffmann-La Roche Ltd.
- Genomic Health
- GenMark Diagnostics
- Quest Diagnostics
- Agilent Technologies Inc.
- GE Healthcare
- Illumina
- PerkinElmer
- Thermo Fisher Scientific
The report segments the digital genome market as follows:
Global Digital Genome Market: Product Segment Analysis
- Sequencing & Analyzer Instruments
- DNA/ RNA Analysis Kits
- Sequencing Chips
- Sequencing & Analysis Software
- Sample Preparation Instruments
Global Digital Genome Market: Application Segment Analysis
- Microbiology
- Reproductive & Genetic
- Transplantation
- Livestock & Agriculture
- Forensics
- Research & Development
Global Digital Genome Market: End User Segment Analysis
- Academics & Research Institutes
- Diagnostics & Forensic Labs
- Hospitals
- Bio-Pharmaceutical Companies
Global Digital Genome Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East and Africa
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