At 10.9% CAGR, Digital Genome Market to Surpass US$ 17.3 Billion Threshold by 2027 | Emerging Technologies of DNA sequencing in Upcoming Years

Digital genome is one of the emerging technologies in DNA sequencing, which allows to perform human genome sequencing and digitalization 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 be 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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Key players in the market are engaged in development of digital genome, owing to greater future prospects of digital genome in the detection of chronic and infectious disease, birth anomalies, drug discovery & development, and diverse clinical applications. Also, market players are adopting inorganic growth strategies to increase their market presence.

For instance, in October 2016, IBM Corporation collaborated with Quest Diagnostics, an American clinical laboratory, launched IBM Watson Genomics, which can be used for Quest Diagnostics. The service is intended to be used for precise medicine for cancer. In December 2017, PerkinElmer collaborated with Neuromuscular Disease Foundation for launching Whole Genome Sequencing research conducted for the rare muscle disease. Furthermore, in July 2018, Google partnered with National Institutes of Health for developing Google Cloud for the biomedical research.

Furthermore, key players in these market are focused on acquisition strategies to expand their geographical presence. For instance, in January 2016, Thermo Fisher Scientific acquired Affymetrix in order to obtain its chips used for genotyping, cytogenetics and gene expression and array-based platforms for around US$ 1.3 billion. In June 2018, Roche made definitive merger agreement to acquire Foundation Medicine, Inc. This merger agreement enable both companies to accelerate the broad availability of comprehensive genome profiling in oncology. In October 2017, Eurofins Scientific signed an agreement to acquire Forensics and Security division of LGC (LGC Forensics).

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Detailed Segmentation:

Global Digital Genome Market, By Product Type:
Sequencer & Analyzers
Reagents & Kits
Sequencing & Analysis Software
Global Digital Genome Market, By Application:
Clinical
Reproductive Health
Oncology
Others
Forensics
Drug Discovery and Development
Other Applications
Global Digital Genome Market, By End User:
Hospitals
Diagnostic Centers
Research Institutes
Biotechnology and Pharmaceutical Companies
Others

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