Digital Genome Market to Perceive Substantial Growth During 2018 - 2026

Digital genome is one of the emerging technologies in DNA sequencing, which allows to perform human genome to be sequenced and digitized in minutes and at the cost of only a few hundred dollars. This is specifically more efficient than the first sequencing of the 3.2 billion base pairs of a DNA that make up the human genome, which took many years and cost millions of dollars to completely sequenced. Such continuous advancement in the field of digital genome enables to deliver rapid and cost-effective DNA sequencing for development of personalized medicine and clinical treatment.

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The Global Digital Genome Market is estimated to be valued at US$ 7,594.8 million in 2018, and is expected to witness a CAGR of 10.9% during the forecast period (2018–2026).

Market Dynamics

Engagement of various key players and government regulatory organizations to launch digital genome-based products and services to conduct extensive research and development (R&D) in development of personalized medicines for cancer, diabetes, and other infectious diseases are expected to drive growth of the global digital genome market. Furthermore, integration of Artificial Intelligence (AI) to efficiently analyze the complex genome data and thereby, easy utilization of these genomic data by heathcare professionals, clinicians, and researchers is expected to increase adoption of digital genome technologies over the forecast period.

Increasing research in genomics and rising investments, grants, and funds by government in the field genomics are creating opportunity for the digital genome developers and providers.

For instance, the Genomics R&D Initiative (GRDI) based in Canada cooperates with other federal science departments and agencies such as Agriculture and Agri-Food Canada, the Canadian Food Inspection Agency, Environment and Climate Change Canada, the National Research Council of Canada, Natural Resources Canada, among others to carryout vital genomic research. According to the Genomics R&D Initiative (GRDI) June 2017: GRDI receives around US$ 20 million annually from Government of Canada (GoC) to conduct this research.

Increasing Technological Advancement in Digital Genome field is expected to augment the Market Growth

Increasing technological advancements and growing awareness related to use of genomes for diagnosis of diseases such as cancer, diabetes, and Attention Deficit Hyperactivity Disorder (ADHD) are expected to drive growth of the digital genome market. For instance, in February 2018, the National Human Genome Research Institute (NHGRI) launched a strategic planning, which will establish a 2020, vision for genomics research aimed at accelerating scientific and medical breakthroughs. Furthermore, in the development of this strategic planning, the institute will engage experts and diverse public communities to identify diverse areas of genomics, which will expand the novel applications in human health and disease treatments.

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Key players operating in the global digital genome market include, 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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This release was published on openPR.