The Global Digital Genome Market Projected to Surge at $20.90 Billion by 2028

As per Triton's research report, the global digital genome market gathered $10.06 billion in 2020, and is estimated to advance at a CAGR of 9.57% by 2028.

A recent study by Triton Market Research titled 'Global Digital Genome Market' includes the Global Analysis and Forecasts by End-user (Diagnostics and Forensic Labs, Hospitals, Academic Research Institutes, Other End-users), Application (Drug Discovery, Personalized Medicine, Academic Research, Agricultural, Diagnostics, Other Applications), Product (Sample Prep Instruments, Sequencing and Analysis Software, Sequencing Chips, DNA/RNA Analysis, Sequencing and Analyzer Instruments), and by Geography (North America, Latin America, Europe, Middle East and Africa, Asia-Pacific).

Digital genomics primarily deals with genes and their functions, helping in detecting and resolving the cause of several chronic conditions. This process is used for multiple applications, such as drug discovery, academic research, and personalized medicine.

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Triton's research report signifies that the global digital genome market is likely to exhibit growth at a CAGR of 9.57% during the considered years 2021-2028. It is predicted to gain revenue worth $20.90 billion by 2028.

The ever-growing burden of chronic diseases and continual investments by manufacturers and government in genomics are vital factors stimulating the growth of the digital genome market worldwide. In recent times, genomic sequencing is rapidly being integrated into clinical practices.

Moreover, substantial government investments have supported genomic sequencing implementation in the healthcare sector, which significantly drives the digital genome market's growth. However, security risks associated with the digital genome and lack of a skilled workforce with a sound understanding of genome technology, are key factors restricting the progress of the digital genome market.

The digital genome market is broadly divided into end-user, application, and product. Based on end-user, the market is segmented into diagnostics and forensic labs, hospitals, academic research institutes, and other end-users. Similarly, the application section is subdivided into drug discovery, personalized medicine, academic research, agricultural, diagnostics, and other applications. Lastly, in terms of product, it is branched into sample prep instruments, sequencing and analysis software, sequencing chips, DNA/RNA analysis, and sequencing and analyzer instruments.

Geographically, North America is leading in the digital genome market. In Canada, the future of medicine is expected to be data-driven, along with a concentration on personalized drugs based on a patient's molecular profile. Moreover, personalized medicine will help in the precise diagnosis and treatment of several conditions, including cancer. This growth in personalized medicine is expected to influence the use of the digital genome. Furthermore, the adoption of innovative technologies by research institutes across the United States adds to the studied market's growth. Hence, as stated above, these factors are expected to motivate the digital genome market's expansion across the North American region over the assessed period.

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

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Question & Answer: Digital Genome Market

Question 1: What vital factors are stimulating the growth of the digital genome market worldwide?
Answer: The ever-growing burden of chronic diseases and continual investments by manufacturers and government in genomics are vital factors stimulating the growth of the digital genome market worldwide.

In recent times, genomic sequencing is rapidly being integrated into clinical practices. Moreover, substantial government investments have supported genomic sequencing implementation in the healthcare sector, which significantly drives the digital genome market's growth.

Question 2: What key factors are restricting the progress of the digital genome market?

Answer: Security risks associated with the digital genome and lack of a skilled workforce with a sound understanding of genome technology, are key factors restricting the progress of the digital genome market.

Question 3: Which region is the leading in the digital genome market?

Answer: Geographically, North America is leading in the digital genome market. In Canada, the future of medicine is expected to be data-driven, along with a concentration on personalized drugs based on a patient's molecular profile. Moreover, personalized medicine will help in the precise diagnosis and treatment of several conditions, including cancer. This growth in personalized medicine is expected to influence the use of the digital genome. Furthermore, the adoption of innovative technologies by research institutes across the United States adds to the studied market's growth. Hence, as stated above, these factors are expected to motivate the digital genome market's expansion across the North American region over the assessed period.

Question 4: Which are the reputed companies engaged in the digital genome market?

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

Related Report:
Global Drug Discovery Market
https://www.tritonmarketresearch.com/reports/drug-discovery-market#report-overview

The global drug discovery market is likely to propel at a CAGR of 6.50% during the period of 2019-2028, while gaining $75.893 billion in revenue by 2028.
Drug discovery solutions are utilized primarily for the extractions and synthesis of target composites. These technologies consist of microarrays, high throughput screening, and qPCR, among others.
The rising aged population, technological advancements, surge in healthcare spending, and increased lifestyle-oriented diseases, are factors driving the drug discovery market on a positive growth trajectory. Further, the growing demand for specialty medicines is opening new avenues for the studied market over the estimated period.
However, delay in product launches and restricted growth rate, owing to generic drugs, are key factors negatively impacting the overall growth of the drug discovery market.

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