Digital Genome Market Is Anticipated To Grow Up To USD 64.6 Billion By 2032 | Agilent Technologies, Becton Dickinson, Pacific Biosciences

The global Digital Genome Market was valued at USD 28.2 Billion in 2022 and it is anticipated to grow up to USD 64.6 Billion by 2032, at a CAGR of 8.6% during the forecast period.

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Deep learning is a subset of machine learning in artificial intelligence (AI) that has networks capable of learning unsupervised from data that is unstructured or unlabeled. Also known as deep neural learning or deep neural networks (DNNs), deep learning models are neural networks (algorithms used to simulate the workings of the human brain in order to recognize patterns) that can learn and make predictions on their own by analyzing data, finding patterns, and making decisions.

Market Trends and Drivers

Surge in adoption of precision medicine will remain a key growth driver

The demand for digital genome is rapidly gaining popularity owing to continuous reduction in the cost and time required. The sequencing is widely used in the field of oncology, reproductive health and genetics. As a result, firms such as Illumina, Thermo Fisher and Qiagen are developing new innovative technologies in the field of genomics. Digital genomics market will further grow as rising application of sequencing in diagnosis of genetic disorders such as Duchenne Muscular Dystrophy, Fragile X syndrome and FAM Hypercholesterolemia etc. Advent of new technology coupled with rising demand of precision medicines will escalate market over forecast period. The major factors limiting the growth of digital genome market is lack of awareness regarding the digital genome, security & privacy of patient data, and incorrect results. In addition, lack of trained staff for digital genome in various developing economies will further impede the industry growth.

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Major Players in the Global Digital Genome Market

The key players in the Digital Genome Market  Agilent Technologies, Inc., Becton Dickinson, Pacific Biosciences, Perkin Elmer, Sigma Aldrich and Thermo Fisher, among others.

COVID-19 Impact:

The COVID-19 pandemic is an unprecedented health concern and has significantly impacted the digital genome market worldwide. The pandemic has positively impacted the demand for digital genome software and products. For instance, as per a February 2022 published article titled, "Covid-19 and Artificial Intelligence: Genome sequencing, drug development, and vaccine discovery", the sequence of SARS- CoV-2 was identified with the help of AI and also aids in the prompt identification of variants of concern (VOC) as delta strains and Omicron. In addition, as per a May 2022 update by the Pan American Health Organization (PAHO), the COVID-19 Genomic Surveillance Regional Network was created in 2020 not only to strengthen the sequencing capacity in the participating laboratories but also for them to establish a routine SARS-CoV-2 genomic sequencing, as a strategy to increase the amount of genetic sequence data available to the global community, which is critical to support the development of diagnostic protocols, the information for vaccine development and to better understand the evolution and molecular epidemiology of the SARS-CoV-2. Moreover, with the introduction of vaccines and the upliftment of lockdown restrictions, the market is expected to increase the demand for digital genome products, thereby contributing to market growth.

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Global Digital Genome Market Segmentation

By Product

Sequencing & Analyzer Instruments,
DNA/RNA Analysis Kits
Sequencing Chips
Sequencing & Analysis Software
Sample Preparation Instruments

By Application

Microbiology
Reproductive & Genetic
Transplantation
Livestock and Agriculture
Forensics
Research and Development

By End-user

Diagnostics & Forensic Labs
Academic Research Institutes
Hospitals
Bio-Pharmaceutical Companies

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