The publisher predicts that the global market for digital genome would witness a CAGR of 9.57% over the forecast period 2021-2028. It garnered $10061.6 million in 2020, and is estimated to generate net revenue of approximately $20902.1 million by 2028.
In recent years, the incidence of chronic diseases has amplified, in turn creating a huge burden on the healthcare system. This has majorly created the demand for the adoption of the digital genome technology. Further, support by the government in the form of funds for development in the field of genomics is also contributing to market growth.
However, there are certain risks associated with digital genomes, which act as hindrances in the process of growth. Also, the lack of skilled professionals in the field of genome technology is negatively impacting the market growth. On the positive side though, the advancements in technology and the growing awareness in developing economies are creating avenues for the growth of the studied market in the forthcoming years.
The global digital genome market encompasses the regions of North America, Latin America, Europe, the Asia-Pacific, and the Middle East and Africa.
North America dominates the global market at present, and is expected to continue its reign till the end of the forecasting period. This is attributable to the higher incidence rates of monogenic diseases in the region as well as the high adoption of advanced techniques in genomics. Also, the presence of well-established research institutes in the United States, with experts working continuously to further develop this technology, is aiding the growth of North America's digital genome market.
- Proliferating Burden of Chronic Diseases
- Continuous Funding by the Manufacturers and Government in the Field of Genomics
- Security Risks Associated With Digital Genome
- Lack of Skilled Professionals in the Field of Genome Technology
- Technological Advancements
- Prevailing Awareness in the Developing Economies Regarding DNA Sequencing Technologies
- Qiagen Nv
- Oxford Nanopore Technologies Ltd
- Becton, Dickinson, and Company (Bd)
- Illumina Inc
- Thermo Fisher Scientific Inc
- Pacific Bioscience
- Bio-Rad Laboratories Inc
- F. Hoffmann-La Roche
- Perkinelmer Inc
- Regeneron Pharmaceuticals
- Biomerieux Sa
- Abbott Laboratories
- Agilent Technologies Inc.
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