Digital Genome Market Value to Hit $50.4 Billion by 2025: Global Market Insights, Inc.
The European digital genome market revenue surpassed USD 6.8 billion in 2018 and is set to achieve significant CAGR up to 2025, driven by presence of numerous industry players.
SELBYVILLE, Del., Oct. 15, 2019 /PRNewswire/ -- Global Digital genome Market is expected to cross USD 50.4 billion by 2025; according to a new research report by Global Market Insights, Inc. The global market is estimated to expand at a substantial pace in the forthcoming years. The high growth is ascribed to key factors such as rising consciousness of genetic roles in identification of chronic disorders such as cancer, rare disorders, diabetes etc. In addition, other vital factors impacting the development of market are growing elderly population and rise in demand for effective diagnosis of genetic disorders. Moreover, increasing number of drug inventions & upsurge in genomics research leading to expansion of the market.
The demand for digital genome is rapidly gaining popularity owing to continuous reduction in the cost and time required. The sequencing is widely used in the field of oncology, reproductive health and genetics. As a result, firms such as Illumina, Thermo Fisher and Qiagen are developing new innovative technologies in the field of genomics. Digital genomics market will further grow as rising application of sequencing in diagnosis of genetic disorders such as Duchenne Muscular Dystrophy, Fragile X syndrome and FAM Hypercholesterolemia etc. Advent of new technology coupled with rising demand of precision medicines will escalate digital genome market over forecast period.
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The major factors limiting the growth of digital genome market is lack of awareness regarding the digital genome, security & privacy of patient data, and incorrect results. In addition, lack of trained staff for digital genome in various developing economies will further impede the industry growth.
The market for DNA/RNA analysis kits are growing rapidly. With increasing investments and funding for research on life science, the adoption of digital genome is growing rapidly. Furthermore, high demand for various genotypic analysis and protein analysis are significantly contributing towards demand of digital genomics. The key players operating in the market have further developed advanced process of analysis of genes. With escalating research for genetics, stem cells and oncology, the need for DNA / RNA analysis kits will increase over estimated time frame. The key players of market, Thermo Fisher Scientific, GenomeMe, BiogeniQ and Nanostring has a wide array of kits for tumor gene analysis. The companies have developed kits where quantification of protein as well as analysis of gene expression can be performed in one experiment. The increasing demand for tumor gene analysis and advanced platforms will further propel demand for genome in near future.
Browse key industry insights spread across 220 pages with 228 market data tables & 11 figures & charts from the report, "Digital Genome Market Size By Product (Sequencing & Analyzer Instruments, DNA/RNA Analysis Kits, Sequencing Chips, Sequencing & Analysis Software, Sample Preparation Instruments), By Application (Microbiology {Biological, Clinical, Industrial}, Reproductive & Genetic, Transplantation, Livestock and Agriculture, Forensics, Research and Development), By End-Use (Diagnostics & Forensic Labs, Academic Research Institutes, Hospitals, Bio-Pharmaceutical Companies) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Japan, China, India, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/digital-genome-market
Advancement in genomics has greatly contributed to development of candidate gene approach and it is one of the most commonly used techniques to identify genes underlying disease traits. More recently, with genomic resources accessible through public Web, DigiCGA (Digital Candidate Gene Approach) have come as a new development in this field. DigiCGA, is an approach that is still in nascent stage but has already achieved some primary success in cancer gene discovery. The predictive analysis through digital genome has started being used widely. This will contribute to digital genome market growth.
Forensic labs are using next-generation sequencing technologies such as Illumina sequencing by synthesis (SBS) for high performance and error-free results. They also use PCR and capillary electrophoresis- based methods widely for DNA testing. National DNA database aids in investigation and identification of suspects, owing to this various country are trying to establish criminal intelligence databases that resulted in increased number of samples for DNA processing. Due to wide range of applications of digital genomics such as identification of missing persons, ancestry investigations, kinship testing and human identification demand for digital genomics is expected to increase by forensic labs.
The genomic industry in U.S is still in its growing phase and is expected to grow at a fast pace in the coming years. The availability of new genome sequencing technologies, well-established healthcare infrastructure, increasing geriatric population are contributing towards revenue growth of market. Demand for precision medicines is rising in the country. Furthermore, in 2018 FDA has approved various drugs such as Lynparza & Blincyto that are tailored to specific characteristics of an individual. Genes are responsible for cause of many rare genetic disorders such as hutchinson-gilford progeria, psoriasis, cystic fibrosis, Rett's syndrome, etc. These diseases are affecting about 25 million people in united states. Researchers are using genomics to treat such genetic disorders by innovating new precision medicines and early diagnosis tools. Hospitals in the U.S. are also using genomics in detection and treatment of cancer. The biotechnology and pharmaceutical sectors in the U.S are marked by rapid growth that can further have positive impact of genomics market. The cost of sequencing genome is reducing and awareness among the people about importance of sequencing is rising, that will significantly propel growth of genomics in the country.
Increasing rate of adoption of advanced sequencing technologies coupled with rising number of companies offering innovative genome policies will augment digital genome market expansion. Few of the prominent players operating in the digital genome industry are Agilent Technologies, Inc., Becton Dickinson, Pacific Biosciences, Perkin Elmer, Sigma Aldrich and Thermo Fisher. Market players are involved in various strategic alliances such as mergers & acquisitions, partnerships, and collaborations with other contributors to acquire significant revenue shares and competitive advantage over other market players. For instance, in January 2017, Qiagen completed acquisition of OmicSoft Corporation, a firm recognized for its software solutions that enhance data visualization and analysis by efficiently managing massive amount of data on DNA and RNA. The acquisition helped Qiagen to enhance its bioinformatic product portfolio.
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Next Generation Sequencing Market Statistics 2025: Consumables segment is expected to witness around 20.5% growth over the analysis timeframe owing to its extensive usage in detecting genetic diseases precisely. Few industry players operational in NGS market are 10X Genomics, Thermo Fisher, BGI, Roche, Qiagen, Pac-Bio, PerkinElmer, Oxford Nanopore, Nanostring, Illumina, Bio-Rad and Agilent.
https://www.gminsights.com/industry-analysis/next-generation-sequencing-market
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Digital Genome Market Growth Report 2019-2025
The digital genome industry is poised to register more than 10% CAGR from 2019 to 2025, driven by introduction of innovative digital genome schemes.
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SOURCE Global Market Insights, Inc.
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