Digital Genome Market to Hit $17.3 Billion by 2028 with 10.9% CAGR
The Digital Genome Market report presents the industry sales and revenue by companies, regions, type and application and forecast to 2028. This report also studies the market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porter’s Five Forces Analysis.
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The digital genome consists of a complete digital collection of DNA material that occurs within an organism or a cell. It’s a simpler method to collect genetic data concerning hereditary disorders and is used extensively by geneticists for a closer look at potential genetic illnesses. It was first intended to be a tool of diagnosis but has evolved into a powerful research tool.
The growing popularity of the human genome projects is a prime factor fueling the market growth of the digital genome. According to Forbes, by 2025, it’s projected that 100 million genomes will be sequenced. Increasing funding for genomics is another major factor in augmenting the market growth. Moreover, growing development in the field of biotechnology due to rising healthcare needs and increasing investment by the government is again driving the market growth. Additionally, the growing demand for personalized medicines coupled with the penetration of new players and start-ups across developing economies is also projected to foster market growth. Furthermore, the increasing prevalence of the chronic disease is further projected to propel the market growth of the digital genome.
North America is expected to gain significant growth over the forecast period and this is attributed to the increasing research and development in biotechnology in the region. Moreover, the continuous launch of innovative products in the field of the digital genome is again expected to fuel the regional market growth. For instance, in October 2019, Inscripta, Inc., announced the launch of the Onyx
Digital Genome Engineering platform. It is a fully automated benchtop instrument for genome-scale engineering. The CRISPR-mediated, massively parallel platform — which includes software, consumables, instrument, and assays — enables researchers to engineer microbial libraries containing the full breadth and scope of possible edit types, in their own labs.
Key Developments:
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In August 2020, Ancestry has launched an AncestryHealth powered by Next Generation Sequencing,” the tool can screen for genes associated with breast cancer, heart disease, colon cancer, and blood disorders.
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in October 2019, MGI has launched its new one-stop sequencing solution, including the portable “express” sequencing system DNBSEQ E series, the modular “digital biolab” DNBelab D series for use with the sequencing system, and a new single “cell” DNBelab C series, a handheld single-cell laboratory that can fit into a pocket.
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In February 2020, Twist Bioscience launches twist targeted methylation sequencing solution to study methylation pattern changes in a wide range of research fields including cancer, epigenetics, and non-invasive prenatal testing
Top Key Players Include In Digital Genome Market: Illumina, Inc., PerkinElmer, Inc., Pacific Biosciences of California, Inc., Thermo Fisher Scientific Inc., Oxford Nanopore Technologies Limited, Nanostring Technologies, Inc., IBM Corporation, Google LLC, Amazon.com, Inc., Deep Genomics, Deep Genomics, Deep Genomics, Desktop Genetics Ltd., and Ancestry.com LLC.
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