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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