The global market for digital genome is expected to witness a healthy growth over the next couple of years. Tremendous research effort in the particular field of science has led to numerous technological breakthroughs and achievements in recent years. Market Research Future (MRFR)’s latest study reveals that the digital genome market is on a healthy growth trajectory. Many of the leading biotech companies are increasingly investmenting in genome technology in order to capitalize on the opportunities that lie ahead.
Digital genome is a promising technology, which is already influencing the healthcare sector in several ways. The technology is being used for a deeper understanding of human genome, developing blueprints of individual genetics and gather information about various health indications. In the coming years, obtaining digital copy of DNA sequence of human genome will become more feasible due to digitization of genome. Such developments will not only allow more accurate and faster genetic analysis but also enable quicker dissemination of the obtained information.
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Health remains a major agenda for governments all around the world and hence emphasis is placed on technologies and solutions that can improve quality of life. Genome sequence may seemingly enable individuals to better manage their health as well as ensure good health of future offspring. In addition, a number of intractable health challenges that currently prevail including diabetes, cancer and cardiac disorders have genetic components. By utilizing digital genome, medical professionals will be able to make critical decisions on patient treatment as they will be much more aware of the overall genetic characteristics of the disease condition.
Digital genome has influenced the speed and accuracy of genetic sequencing, which is considered a key reason behind the improvement in personalized healthcare delivery. Collection and storage of critical genetic data is important for determining unique genome sequence. Factors as such are expected to support the growth of the digital genome market during the forecast period (2016-2027).
Industry Trends and News
- Australia-based health information company Genome.One is reportedly looking for investors who can back its latest pilot program focused towards genomics technology. The company is calling for electronic medical record providers to help initiate its plans.
- US-based biotech company NanoString Technologies, Inc. has recently announced that it is partnering with five leading Contract Research Organizations (CROs), allowing them to access its digital spatial profiling (DSP) technology. Core Diagnostics, Inc., Cancer Genetics Incorporated, Propath UK and Covance are among the partners.
Digital Genome Market: Segmental Analysis
By disease, the global market for digital genome has been bifurcated into diabetes and cancer. Based on end user, the market has been segmented into research laboratories, hospitals and others. By application, the market has been segmented into drug discovery, agriculture & animal research, diagnostics, personalized medicine, academic research and others.
North America is expected to stay at the forefront of the global market for digital genome during the assessment period. Increased focus on healthcare coupled with the presence of leading biotech firms in both the US and Canada is reflecting favorably on the region’s market. Moreover, favorable government policies are encouraging players in the region to step up their investments in R&D. Meanwhile, Europe is also expected to present attractive growth opportunities for market players. A number of leading pharmaceutical and biotechnology companies based in Europe are likely to increase their explorations in the field of genetic science in the forthcoming years. The market in Asia Pacific (APAC) is also expected to exhibit a healthy CAGR during the review period. This is primarily owing to the increasing government efforts to improve the healthcare system in the region.
Digital Genome Market: Competitive Landscape
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.
Some the leading companies mentioned in MRFR’s report include BiogeniQ (Canada), NanoString (U.S), Umbel (U.S) and GenomeMe (Canada).
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