Digital Genome Market 2017-2024 | United States Industry Report By Product and Region
Increased adoption of personalized medicine aimed at identifying genomic markers of disease and prescribe drugs that specifically target the pathway will drive the digital genome market size. Growing emphasis on sensitivity and specificity of the gene sequencing instruments should also fuel industry growth.
In 2015, sequencing and analyzing instruments accounted for over 40% of digital genome market share. Technological innovation for development of novel instruments coupled with growing investments in genetic research will provide thrust to industry expansion. Sequencing chips should witness over 10% CAGR owing to continuous R&D in bioinformatics, microfluidics, enzymology, and nanotechnology providing innovative platforms for digital genome market growth.
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Biotechnology innovation has enabled development of genetically modified organisms (GMOs) in order to introduce specific improvements or traits. Successful production and commercialization of such modified organisms should stimulate business growth. Extensive applications in clinical diagnosis and research will also contribute to industry growth.
Effective disease management strategies for chronic ailments and growing number of private and public investments and grants are forecast to propel digital genome market growth over the forecast years.
Concerns pertaining to security and confidentiality of patient data, lack of experienced professional and complex return on investment structure may hamper the digital genome market growth. Increasing application of digital genomics in next generation sequencing and wide use of microbes in diagnostics industry will stimulate microbiology segment growth; the segment is anticipated to surpass USD 10 billion by 2024.
Bio-pharmaceutical companies accounted for over 45% of digital genome market share due to increasing demand for targeted drug therapy. Growing usage trend for precision medicines should provide lucrative growth opportunities for segment growth.
U.S. digital genome market size accounted for over 80% of the North American revenue in 2015, mainly due to the presence of established healthcare infrastructure and advanced facilities for effective treatment and care. The successful completion of Human Genome Project (HGP) has attracted significant public and private initiatives, driving the business growth.
In 2015, Germany digital genome market size was valued at over USD 1.4 billion and is anticipated to witness considerable growth till 2024. Increasing investments by public and private companies for development of novel technologies should boost digital genome industry growth.
China digital genome market is set to witness over 10% CAGR owing to favorable government initiative for development of human genetic resources platform and increasing collaboration among research institutes for creation of genomic databases and biobanks.
Some of the players operating in this industry include Perkin Elmer, Qiagen, Illumina, Becton Dickinson, Agilent, Sigma Aldrich, Fluidigm, Pacific Biosciences, Veracyte, Trovagene, Affymetrix and Neogen. The industry participants are investing heavily in R&D to develop innovative products which would provide competitive advantage.
Some of the major players in sequencing and analysis instruments market include Life Technologies, Illumina, Thermo Fisher Scientific, and Roche. Few of the advanced sequencing technologies are Illumina (Solexa) sequencing, Roche 454 sequencing, Ion torrent: proton/ PGM sequencing and SOLiD (sequencing by Oligonucleotide Ligation and Detection) sequencing.
Digital genome market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2012 to 2024, for the following segments:
Digital Genome Market By Product
• Sequencing & Analyzer Instruments
• DNA/RNA Analysis Kits
• Sequencing Chips
• Sequencing & Analysis Software
• Sample Prep Instruments
Digital Genome Market By Application
• Reproductive & Genetic
• Livestock and Agriculture
• Research and Development
Digital Genome Market By End-Use
• Diagnostics & Forensic Labs
• Academic Research Institutes
• Bio-pharmaceutical companies
The above information is provided on a regional and country basis for the following:
• North America
• Latin America (LATAM)
• Asia Pacific
• Middle East
o South Africa
o Saudi Arabia
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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