The global digital genome market size crossed $26 billion in 2018 and expected to reach USD 50.7 billion by 2026 is projected to register over 10% CAGR up to 2026.
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.
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.
The report analyzes and forecasts the digital genome market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global digital genome market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the digital genome market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of digital genome market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The main objective of this report is to aid the user in understanding the market as a whole, its definitions, segmentation, market potential, influential trends, and the barriers that it is facing. Meticulous research and analysis were an important part of the report preparation. Those reading the report will be able to get a detailed understanding about the market. Industry experts have verified and checked the data and information that have been taken from credible sources like websites, annual reports of companies, journals, and other resources. In order give the facts and data a pictorial form, diagrams, graphs, pie charts, and other representations have been used. That augments the visual appeal of the report and makes understanding it much easier.
F. Hoffmann-La Roche Ltd. is one of the leaders in biotechnology, in-vitro diagnostics and tissue-based cancer diagnostics. The company is operating in the industry since 1896 and undertakes various strategic initiatives including new product launch to strengthen its business. Other key players operating in global industry include Agilent Technologies, Becton Dickinson, Pacific Biosciences, Perkin Elmer, and Thermo Fisher. These companies adopt various policies such as acquisitions, mergers, geographic expansion, to expand business.
Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market. This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world. As the competitive landscape is the most valuable part of any report, it consists of all the required information for the detailed study of top players functioning in the industries. It is also an interesting part to find how exactly these key manufacturers implement various strategies to secure the top rank in the industry. Such an in-depth information is useful for the new entrants into the industry as they would be able to learn a bit from these key vendors. Similarly, the information provided in the research report will also be valuable for the renowned key players as well, as they come to know the strategies of their counterparts to sustain in the competitive industry.
The above information is provided for the following regions and countries:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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