Press release
Research and Development led the Digital Genome Market share to exceed $23bn by 2024
Global Market Insights, Inc.
Digital genomics is taking smart analytics to next level. In an attempt to better assess concerns over lifestyle induced diseases and predict optimal therapy, healthcare experts have adopted precision medicine technologies such as gene sequencing and big data analytics, which has led to rapid growth in the precision medicine market. The urge for genomics and proteomics technologies has influenced researchers to explore the field of central nervous system disease and rare genetics. The escalating demand for genomics for cancer, diabetes, and HIV diagnostics is anticipated to fuel digital genome industry share.
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Surge in research funds & capitals with rising public and private investments is likely to augment digital genome market. Research & development was the leading application of the digital genome industry, and is anticipated to exceed USD 23 billion by 2024. Academic research is also estimated to observe significant growth with heavy funding for life science research projects.
Rising application of microbes for biological, industrial, and clinical applications will fast-track the growth of microbiology applications over the coming seven years. Digital genome market share in microbiology applications is predicted to exceed USD 10 billion by 2024. Other industry segments such as biopharmaceutical companies, drug discovery, forensics, and transplantation are likely to seize huge business opportunities and reap significant profits.
Browse key industry insights spread across 150 pages with 95 market data tables & around 8 figures & charts from this 2017 report Digital Genome Market in detail along with the table of contents at:
https://www.gminsights.com/industry-analysis/digital-genome-market
What are the major product segments in the digital genome market?
Sequencing & analyzer instruments market is holding a firm grip in the business space, having had 40% of the digital genome industry share in 2015.
Increasing data automation and technological improvements in software tools is likely to boost sequencing and analysis software market at a rate of 9.8% over the period of 2016-2024.
Sequencing chips market is anticipated to register a CAGR of over 10%, owing to its usage for in-depth research in nanotechnology, microfluidics, etc.
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Why is the digital genome industry likely to witness better growth avenues in developed economies compared with emerging economies?
Availability of abundant funds and presence of established healthcare infrastructure with advanced & effective treatment facilities is the key driver for the prosperous growth of digital genome market in the U.S. and Germany. U.S. industry accounted for over 80% of the overall revenue share in 2015, owing to regular break-through innovations in genomics. The completion of Human Genome Project (HGP) has reached a major milestone, having attracted positive achievements and significant public & private initiatives in the region. Likewise, Germany digital genome market worth USD 1.4 billion in 2015, is also foreseen to exhibit lucrative growth avenues.
However, in the next few years, Asia Pacific region is poised to witness significant developments due to strengthening economies of developing countries such as India and China. China digital genome industry is poised to witness a CAGR 10% over 2016-2024, owing to the favorable government initiatives and increasing collaborations between research institutes for creating genomic biobanks and databases.
The key participants are investing heavily in R&D to develop an innovative products’ portfolio, which would provide a competitive edge in the market. Major digital genome industry players include Perkin Elmer, Sigma Aldrich, Fluidigm, Veracyte, Trovagene, Affymetrix, Qiagen, Illumina, Becton Dickinson, Pacific Biosciences, Agilent, and Neogen.
Browse Related Reports:
Gene Editing Market Size By Technology (CRISPR/Cas9, Zinc Finger Nucleases (ZFNs), Meganucleases, TALENS), By Application (Hematology, Infectious Disease, Oncology, Muscular Disorders), By End User (Biotech and Pharma, CRO, Research Institutes), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Spain, Russia, Poland, China, Japan, India, Australia, Malaysia, Mexico, Brazil, Argentina, South Africa, Saudi Arabia, Israel), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
https://www.gminsights.com/industry-analysis/gene-editing-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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