Overview and Scope
The digital genome refers to the digitized and organized collection of an organism’s genetic material, including its DNA (deoxyribonucleic acid) and RNA (ribonucleic acid) sequences. This digital representation allows for storing, analyzing, and interpreting genetic information using computational tools and technologies. Digital genomes are essential for understanding genetic variations, disease mechanisms, and evolutionary relationships.
Sizing and Forecast
The digital genome market size has grown rapidly in recent years. It will grow from $32.25 billion in 2023 to $39.25 billion in 2024 at a compound annual growth rate (CAGR) of 19.7%. The growth in the historic period can be attributed to growing funding for genomics, reduced cost and high speed of DNA sequencing, entry of new players and start-ups in developing economies, increasing number of drug discoveries, and growing biotech sector.
The digital genome market size is expected to see rapid growth in the next few years. It will grow to $80.93 billion in 2028 at a compound annual growth rate (CAGR) of 19.8%. The growth in the forecast period can be attributed to increasing prevalence of genetic disorders, increasing research and development pertaining to digital genome, growing adoption of personalized medicine, developments in biotechnology, and rising prevalence of chronic diseases. Major trends in the forecast period include the increasing adoption of next-generation sequencing technologies, increasing technological advancements, extensive use of microorganisms in diagnostics industry, increasing demand for personalized medicines, and rising adoption of digital genomic technology by hospitals and clinics.
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Segmentation & Regional Insights
The digital genome market covered in this report is segmented –
1) By Type: Sequencing And Analyzer Instruments, Data Analysis And Management Tools
2) By Application: Diagnostics, Agriculture And Animal Research, Personalized Medicine, Drug Discovery, Treatment Analysis
3) By End User: Research Centers And Government Institutes, Academic Institutions, Pharmaceutical And Biotechnology Industries, Hospitals, Diagnostic Centers
North America was the largest region in the digital genome market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital genome market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of genetic disorders is expected to propel the growth of the digital genome market going forward. Genetic disorders are hereditary conditions caused by abnormalities or mutations in an individual’s DNA, the genetic material that carries instructions for the development and functioning of the body. Digital genome technologies enable the identification of genetic mutations and variations associated with genetic disorders. This information helps in accurate and early diagnosis of these disorders, allowing for timely intervention and treatment. For instance, in August 2023, according to the National Library of Medicine, a US-based medical library, sickle cell anemia is a genetic disease that affects approximately 1 in 500 African Americans in the United States. Further, about 1 in 12 African Americans carries the autosomal recessive mutation responsible for the disease, and approximately 300,000 infants are born with sickle cell anemia annually. Therefore, the increasing prevalence of genetic disorders is driving the growth of the digital genome market.
Key Industry Players
Major companies operating in the digital genome market are Roche Holding AG, Thermo Fisher Scientific Inc., GE HealthCare Technologies Inc., Quest Diagnostics, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., bioMerieux SA, PerkinElmer Inc., Bio-Rad Laboratories Inc., Qiagen N.V., BGI Genomics, Myriad Genetics Inc., Foundation Medicine Inc., ArcherDx Inc., Invitae Corporation, Oxford Nanopore Technologies Ltd., Luminex Corporation, GenMark Diagnostics Inc., NanoString Technologies Inc., Pacific Biosciences of California Inc., Genewiz, Inscripta Inc., Genomic Health Inc., Becton Dickinson and Company, GenomeMe, Regeneron Pharmaceuticals Inc.
The digital genome market report table of contents includes:
1. Executive Summary
2. Digital Genome Market Characteristics
3. Digital Genome Market Trends And Strategies
4. Digital Genome Market – Macro Economic Scenario
5. Global Digital Genome Market Size and Growth
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31. Digital Genome Market Other Major And Innovative Companies
32. Global Digital Genome Market Competitive Benchmarking
33. Global Digital Genome Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Digital Genome Market
35. Digital Genome Market Future Outlook and Potential Analysis
36.Appendix
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