Digital Genome Market: Information, Figures and Analytical Insights 2020-2027

Market Research Future Adds The “Digital Genome Market Research Report–Forecast Till 2027” Report To Their Unique Collection.

The global digital genome market analysis by MRFR expected to witness tremendous growth during the forecast period. Digital genome can be used in the diagnosis of rare diseases, genetic diseases, cancer, neurological disorders and others. The rising prevalence of chronic diseases such as breast cancer is driving the market growth. Other essential factors influencing the growth of the market are increasing geriatric population, need for efficient diagnosis and treatment, increasing number of drug discoveries, growing biotech sector, increasing research in the field of genomics and rise in funding related to digitalization. Variants of Presenilin gene lead to Alzheimer’s disease. According to Alzheimer's Association in 2018, 5.7 million people are from Alzheimer’s disease in the Americas. With the help of digital genome identifying genomic variants is easy.

However, factors such as high costs of digital genome techniques, lack of knowledge about the digital genome, security issues and inaccurate results are some of the factors expected to hinder the market growth during the forecast period.

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Market Drivers and Restraints:

The high prevalence of various genetic disorders has generated the emergence of advanced techniques to study the issues and find remedies to them. The digital genome technology allows the scientists to convert a large amount of data into more sorted and simpler format which help them in solving the problems. The digital genome technology provides overall genetic make-up of the disease which aids in making critical decisions regarding the treatment procedures. The high demand for simplified genetic information in order to shorten the time required for understanding the diseases and providing relevant treatments is majorly driving the growth of the global digital genome market.

The rapidly increasing geriatric population, current developments in the biotech sector, increasing prevalence of Alzheimer's disease and increasing research in the field of genomics are some of the major factors that are fueling the growth of the global digital genome market. However, the high cost of digital genome technology, lack of knowledge regarding digital genome, security issues and inaccuracy of the results are likely to create hindrance in the expansion of the global digital genome market.

Market Segmentation:

The global digital genome market has been segmented on the basis of product, application and end-users. Based on product, the digital gnome market is segmented into sequencing services, sequencing instruments, sequencing consumables, bioinformatics and sample preparation kits and reagents.

Based on application, the global digital genome market is segmented into diagnostics, agriculture animal research, personalized medicine, drug discovery and treatment analysis. Based on end-users, the digital genome market is segmented into research centers and government institutes, academic institutions, pharmaceutical biotechnology industries, hospitals, and diagnostic centers.

Regional Analysis:

Geographically, the global digital genome market is segmented into four major regions such as Americas, Asia Pacific, Europe and the Middle East and Africa. The global digital genome market is currently dominated by the Americas, owing to the high prevalence of chronic diseases such as cancer and diabetes and increasing research expenditure for development of proper treatments in this region

The skyrocketing demand for personalized medication and targeted therapy in the Europe region is fueling the growth of the digital genome market in this region. Whereas, the Asia Pacific region is anticipated to witness significant growth in the global digital genome market owing to the rapid development in the field of biotechnology and rising healthcare spending in this region.

The Middle East and Africa region accounts for the least share in the global digital genome market owing to the poor primary healthcare services and low penetration of advanced technology in the healthcare sector in various underdeveloped areas of this region.

Competitive Analysis:

The players in the global digital genome market are aiming towards expanding their businesses in the global market by increasing the research and development expenditure for development of upgrades in the field of digital genomes. The strategic mergers and acquisitions are aiding the players in gaining a competitive edge in the global digital genome market.

In June 2018, Digital DNAtix Ltd., a genetic blockchain company, has announced the pilot of a blockchain-based ecosystem and infrastructure for anonymous genetic testing, services and research with the help of digital genomes.

The major players that are highlighted in the report on the global digital genome market by MRFR are Umbel, BiogeniQ, GenomeMe, NanoString, Illumina, Inc. and others.

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