Current Developments in Biotechnology to Fuel the Growth of Global Digital Genome Market
Market Overview:
The penetration of advanced technology in the healthcare sector has developed various
techniques for studying different parameters in this sector. Digital genome is one such
emerging technology that avails the complete set of genes in digital format which aid in the
detailed understanding of genes and their biological functions. According to the report that
has been published by Market research Future (MRFR), the global digital genome market is
anticipated to project significant growth in the coming years.
Top Key Players:
Digital Genome Market Has the major players that are highlighted in the report by MRFR
are
Umbel
BiogeniQ
GenomeMe
NanoString
Illumina, Inc.
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Market Drivers and Restraints:
The high prevalence of various genetic disorders has generated the emergence of advanced
techniques to study the issues and find remedies to them. The digital genome technology
allows the scientists to convert a large amount of data into more sorted and simpler format
which help them in solving the problems. The digital genome technology provides overall
genetic make-up of the disease which aids in making critical decisions regarding the
treatment procedures. The high demand for simplified genetic information in order to
shorten the time required for understanding the diseases and providing relevant treatments
is majorly driving the growth of the global digital genome market.
The rapidly increasing geriatric population, current developments in the biotech sector,
increasing prevalence of Alzheimer's disease and increasing research in the field of
genomics are some of the major factors that are fueling the growth of the global digital
genome market. However, the high cost of digital genome technology, lack of knowledge
regarding digital genome, security issues and inaccuracy of the results are likely to create
hindrance in the expansion of the global digital genome market.
Market Segmentation:
The global digital genome market has been segmented on the basis of product, application
and end-users. Based on product, the digital gnome market is segmented into sequencing
services, sequencing instruments, sequencing consumables, bioinformatics and sample
preparation kits and reagents.
Based on application, the global digital genome market is segmented into diagnostics,
agriculture & animal research, personalized medicine, drug discovery and treatment
analysis. Based on end-users, the digital genome market is segmented into research centers
and government institutes, academic institutions, pharmaceutical & biotechnology
industries, hospitals, and diagnostic centers.
Regional Analysis:
Geographically, the global digital genome market is segmented into four major regions such
as Americas, Asia Pacific, Europe and the Middle East and Africa. The global digital genome
market is currently dominated by the Americas, owing to the high prevalence of chronic
diseases such as cancer and diabetes and increasing research expenditure for development
of proper treatments in this region
The skyrocketing demand for personalized medication and targeted therapy in the Europe
region is fueling the growth of the digital genome market in this region. Whereas, the Asia
Pacific region is anticipated to witness significant growth in the global digital genome market
owing to the rapid development in the field of biotechnology and rising healthcare spending
in this region.