DUBLIN–(BUSINESS WIRE)–The “Digital Genome Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)” report has been added to ResearchAndMarkets.com’s offering.
The global digital genome market is expected to register a CAGR of more than 10% over the forecast period, 2022-2027.
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 introduction of vaccines and upliftment of lockdown restrictions, the market is expected to increase the demand for digital genome products, thereby contributing to the market growth.
The major factors fueling the market growth are the increasing technological advancements pertaining to digital genome, growing adoption personalized medicine, constantly evolving disease patterns as well as rising research and development activities pertaining to digital genome.
The increasing technological advancement pertaining to digital genome is proliferating the market growth. For instance, in July 2021, GE Healthcare and SOPHiA GENETICS, a global healthcare data-sharing network collaborated on advancing cancer care by developing genomic-based AI. The integration of genomics-based artificial intelligence into oncology workflow solutions would be a major breakthrough for integrated cancer medicine and for future clinical research, which increasingly depend on the ability to select those patients most likely to respond to new therapies.
In addition, in April 2021, Genome Medical, a digital health company bringing genetics and genomics into everyday care expanded its technology offering to augment the clinical services provided by its nationwide team of genetics specialists. Genome Medical will automate the collection of a patient’s comprehensive family health history and incorporate the findings into an accurate and timely genetic risk assessment rough an exclusive licensing of Health Heritage, a family medical history and genomic decision support application.
However, high capital expenditure and lack of skilled workforce are the factors hindering the market growth.
Key Market Trends
- Sequencing and Analysis Software Segment Expected to Hold a Major Market Share
- North America Expected to Hold a Significant Share in the Market
Competitive Landscape
The digital genome market is competitive with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. Some of the key players in the market are bioMerieux, Agilent Technologies, Inscripta, Inc., GE Healthcare and Invitae Corporation.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Technological Advancements, and Research and Development Pertaining to Digital Genome
4.2.2 Growing Adoption of Personalized Medicine
4.2.3 Constantly Evolving Disease Patterns
4.3 Market Restraints
4.3.1 High Capital Expenditure
4.3.2 Lack of Skilled Workforce
4.4 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION (Market Size by Value – USD million)
5.1 By Product
5.1.1 Sequencing and Analyzer Instruments
5.1.2 DNA/RNA Analysis Kits
5.1.3 Sequencing Chips
5.1.4 Sequencing and Analysis Software
5.1.5 Sample Preparation Instruments
5.2 By Application
5.2.1 Clinical
5.2.1.1 Reproductive Health
5.2.1.2 Oncology
5.2.1.3 Others
5.2.2 Forensics
5.2.3 Drug Discovery and Development
5.2.4 Other Applications
5.3 By End-user
5.3.1 Hospitals
5.3.2 Diagnostic Centers and Forensic Labs
5.3.3 Research Institutes
5.3.4 Other End-users
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Middle East and Africa
5.4.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Agilent Technologies
6.1.2 Inscripta, Inc.
6.1.3 bioMerieux
6.1.4 GE Healthcare
6.1.5 Invitae Corporation
6.1.6 GenMark Diagnostics, Inc.
6.1.7 Illumina
6.1.8 NanoString Technologies, Inc.
6.1.9 Pacific Bioscience
6.1.10 PerkinElmer Inc.
6.1.11 Quest Diagnostics
6.1.12 Qiagen
6.1.13 Thermo Fisher Scientific
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/rdkfdd
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