The Global Digital Genome Market at CAGR of 9.57% by 2028

Triton Market Research presents the Global Digital Genome Market segmented by Application (Academic Research, Diagnostics, Agricultural, Drug Discovery, Personalized Medicine, Other Applications), Product (DNA/RNA Analysis, Sequencing and Analysis Software, Sample Prep Instruments, Sequencing and Analyzer Instruments, Sequencing Chips), End-user (Academic Research Institutes, Diagnostics and Forensic Labs, Hospitals, Other End-users), and by Geography (Middle East and Africa, Europe, Asia-Pacific, Latin America, North America). It further discusses the Market Summary, Industry Outlook, Porter's Five Forces Model, Impact of COVID-19, Market Attractiveness Index, Vendor Scorecard, Key Insights, Drivers, Restraints, Opportunities, Company Profile, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

Triton's research report intimates that the global digital genome market is projected to expand in terms of revenue by 9.57% of CAGR during the evaluated phase of 2021-2028.

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A digital genome is a detailed digital set of genetic material found in a cell or an organism. It primarily deals with genes and their functions, assisting in detecting the cause of chronic conditions.

Factors such as technological advancements and awareness in the developing nations regarding DNA sequencing technologies are generating several growth opportunities for the studied market over the estimated period. For instance, artificial intelligence and machine learning technologies are adopted to overcome several genomic issues, such as annotating genomic sequence elements and discovering splice sites. Such advancements are primarily motivating the growth of the digital genome market globally.

However, the lack of skilled professionals having knowledge of genome technology, hampers the overall growth of the studied market.

North America holds the largest market share in the digital genome market, and is expected to continue its stronghold till 2028. The region's growth can be attributed to the high adoption of advanced techniques by the research institutes in the United States. Moreover, the increased investments in gene therapy advancements, along with the high prevalence of diseases, including Alzheimer's diseases, cancer, and dementia, are driving the studied market's growth. Above all, a surge in the conferences and workshops relating to gene editing is expected to augment the digital genome market's progression across North America.

The key companies profiled in the digital genome market are Illumina Inc, F Hoffmann-La Roche, Qiagen NV, Thermo Fisher Scientific Inc, Pacific Bioscience, Regeneron Pharmaceuticals, Biomerieux SA, Abbott Laboratories, Oxford Nanopore Technologies Ltd, Bio-Rad Laboratories Inc, Agilent Technologies Inc, Perkinelmer Inc, Becton Dickinson and Company (BD), and Inscripta.

Several established market players are upgrading their technology to satisfy the requirements of their clientele, which poses a threat for the new market players to enter the market. Moreover, the entry barrier is higher in the digital genome market as it involves complicated technologies.

Furthermore, multinational companies are thriving to launch numerous technologically advanced products to attract more consumers to capture significant market share. This indicates the competition among the existing market players is likely to remain relatively higher over the forecast period.

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This release was published on openPR.