Digital genome is the study of DNA and other genetic information in plants and animals. It is used to discern the nature of chronic diseases and their ability to cure them in the coming years. The global digital genome market report by Market Research Future (MRFR) takes a look at the challenges and opportunities for the industry for the period of 2018 to 2027 (forecast period). The impact of the COVID-19 pandemic and its effects are explored in great detail.
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Digital Genome Market Scope
The global digital genome market is expected to accrue major revenue over the forecast period owing to breakthroughs in DNA sequencing and genomics. Large prevalence of chronic diseases and the need in discerning them at an early stage are driving market growth. The variants of Presenilin gene are touted to be affected with Alzheimer’s disease. According to a report by Alzheimer’s Association, there were close to 5.8 million diagnosed with the disease in 2018.
The study on plant biology has led to the storing of genetic profiles of plants on a genetic database. Researchers at Carnegie Science Center had created Aranet, a genome-wide network, which contains information on genes and their association with plant internal networks.
Lack of awareness of digital genome, high costs of techniques, and inaccurate results can restrain market growth.
Digital Genome Market Segmentation
The global digital genome market is segmented on the basis of product, application, and end-user.
By product, it is segmented into sample preparation kits and reagents, sequencing services, sequencing instruments, sequencing consumables, and bioinformatics.
Major applications comprise diagnostics, drug discovery, agriculture & animal research, personalized medicine, and treatment analysis.
On the basis of end-user, the market is segmented into pharmaceutical & biotechnology industries, research centers and government institutes, academic institutions, hospitals, and diagnostic centers.
Digital Genome Market Regional Analysis
On the basis of region, the global digital genome market is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
The digital genome market is expected to be dominated by the Americas owing to increasing number of cases of cancer and diabetes. The Breastcancer.org estimated 266,120 new cases of invasive breast cancer and 63,960 new cases of non-invasive breast cancer in America in 2018. This provides the market ample scope to grow.
Europe stood second in the global digital genome market. The rising demand for personalized medicine and targeted therapy is driving the growth of the market. The encouragement of public-private partnerships in the U.K. has led to pharmaceutical companies and charities to create a nation-wide genome database for creating new devices and techniques for discerning diseases at an early stage. The European Alliance for Personalized Medicine (EAPM) is involved in enhancing patient care for chronic diseases through personalized medicine. According to the European Commission in April 2018, 13 European countries have signed a declaration to share the genomic data to allow personalized treatments against cancer, rare diseases, and neurological diseases.
The global digital genome market in APAC is expected to witness massive growth owing to rising cases of diabetes in the region. According to the American Diabetes Association in 2016, the Western Pacific has more than 138.2 million diabetic patients. Also, the rise in healthcare spending and expanding biotech sector can drive the market growth in this region.
The MEA holds the least share in the global digital genome market due to low funds in medical and health research. However, the increasing number of cases of chronic diseases and a surge in healthcare spending favors market growth in this region. According to the Ministry of Finance of Kingdom of Saudi Arabia (KSA) in 2018, nearly USD 39.2 billion has been allocated for the Health and Social Development Sector. This enhances the market growth of digital genome in this region.
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Digital Genome Market Competitive Intelligence
Illumina, Inc, Umbel, GenomeMe, BiogeniQ, and NanoString are key players of the global digital genome market.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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