The
global digital genome market is 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.
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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.
Global
Digital Genome Market, by Key Players
·
Umbel
·
BiogeniQ
·
GenomeMe
·
NanoString
·
Illumina,
Inc
Segmentation
The
global digital genome market is segmented on the basis of product, application,
and end-user. The global digital genome market, by product, is segmented
into sequencing services, sequencing instruments, sequencing consumables,
bioinformatics and sample preparation kits and reagents. The application
segment is segmented into diagnostics, agriculture & animal research,
personalized medicine, drug discovery and treatment analysis. On the
basis of end-user, the market is categorized into research centers and
government institutes, academic institutions, pharmaceutical &
biotechnology industries, hospitals, and diagnostic centers. On the basis of
region, the global digital genome market is segmented into the Americas,
Europe, Asia-Pacific, and the Middle East and Africa.
The
Americas is sub-segmented into North America and South America. The North
American region is further segmented into the US and Canada. The European
region is divided into two, namely, Western Europe and Eastern Europe. Western
Europe is further classified into Germany, Italy, France, the UK, Spain, and
the rest of Western Europe. The Asia-Pacific region is sub-segmented into
Japan, China, India, Australia, the Republic of Korea, and the rest of
Asia-Pacific. The Middle Eastern and African region is sub-segmented into the
United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the
Middle East and Africa.
Regional
Market Summary
The
digital genome market is dominated by America owing increasing prevalence of
chronic diseases like 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. Thus, this provides favorable
backgrounds for the market to grow.
It is
estimated that 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 European Alliance for Personalized Medicine (EAPM)
founded in March 2012, 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
digital genome market in Asia-Pacific is expected to witness growth owing to
rising diabetes in this region. According to the American Diabetes Association
in 2016, the Western Pacific has more than 138.2 million diabetic patients.
Also, the rising healthcare spending and growing biotech sector drive the
market growth in this region.
The
Middle East and Africa holds the least share in the global digital genome
market due to low funding in medical and health research. However, the rising
prevalence of chronic diseases and increasing healthcare spending favors market
growth in this region. According to the Ministry of Finance - KSA (Kingdom of
Saudi Arabia) in 2018, 147 billion riyals (USD 39.2 billion) have been
allocated for the Health and Social Development Sector. This enhances the
market growth of digital genome in this region.
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