Digital Genome Market to Record Stellar Growth During the Forecast Period 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).

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.

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.

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Key Players

Key companies covered as a part of this study 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.

Increasing Adoption of Personalized Medicine is expected to propel the Market Growth

Increasing inclination towards using genome to predict reaction of medication for safe and effective treatment of cancer, Attention Deficit Hyperactivity Disorder (ADHD), diabetes for personalized and safe treatment to choose most appropriate treatment for ADHD, and nutrition profiling where DNA is used to prevent development of chronic diseases are expected to be major growth drivers for the digital genome market.

According to the World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality across the world, with around 14 million new cases reported worldwide in 2012. The World Health Organization (WHO) also suggests that 30-50% deaths caused due to cancer can be prevented by adequate treatment in early stages and can drastically reduce risk factors. In these scenario, personalized medicine offers most promising approaches to tackle diseases, which have far eluded effective treatments or cures.

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This release was published on openPR.