Blockchain in Genomics Market: 3 Bold Projections for 2021 | Major Giants Pfizer, Merck, GSK, Zenome

A new 149 page research study released with title 'Global Blockchain in Genomics Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2027' provides detailed to better analyze latest market scenario and staged competition. The study not just covers geographic analysis that includes regions like North America, Europe or Asia but also players analysis with profile such as Merck(United States), Murrieta Genomics (United States), Ripe Technology, etc (United States), Nebula Genomics(United States), DNAtix (United States), Longenesis (China), Luna DNA (United States), EncrypGen(United States), GSK (United Kingdom), Pfizer(United States) and Genobank.io(United States), Shivom (United Kingdom) and Zenome (Russia).

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What is Blockchain In Genomics?
Over the past few years, a number of companies have been formed to realize this goal and further develop blockchain for genomic data storage, sharing, and analysis. In doing so, these companies aim to improve genomic data access to the users themselves, as well as researchers, drug developers, and healthcare providers. Blockchain technology promises to transform data distribution via major advancements in data security and storage. Blockchain essentially connects digital accounts using cryptography, enabling verifiable transactions that can be openly shared on a highly secure, decentralized network. It is a Blockchain in genomics stores, manages, and processes the transaction of genomic data between genomic data providers and its customers. Additionally, the major factor driving the market is utility and demand to secure such transactions comprising of unique genomic data. However, the market is expected to be restrained due to the lack of understanding of the utility of blockchain in genomics and high maintenance costs.

The market study is broken down by Type (Public, Federated and Private), by Application (Clinical Trials, IP Management, Drug Discovery, Data storage and security and Others) and major geographies with country level break-up.

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The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA estimates that Players from United States will contribute to the maximum growth of Global Blockchain In Genomics market throughout the predicted period.

Segmentation Overview
Market Trend
Blockchain technology has emerged as a viable option to store/exchange genomic data

Market Drivers
Demand to secure such transactions comprising of unique genomic data.
Pharma companies are mainly the ones carrying out the transaction of genomic data contributing to its leading position in the market.
Rising investment by private players and venture capitalist help to boost the blockchain in genomic data management market growth.

Opportunities
Launch of new blockchain-based platforms
Innovations in technology, thus increasing customer satisfaction on a global level

Restraints
Lack of proper knowledge regarding the integration of blockchain in the health care industry

Challenges
Lack of resources and stakeholders about the enormous applications of the blockchain and its implementation.

Key Target Audience
Blockchain in genomics service providers, vendors and other stakeholders, Government bodies such as regulating authorities and policy makers, Organizations, forums and alliances related to blockchain in genomics and Market research and consulting firms

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