Digital Genome Market Report, Analysis, Opportunities by 2031
The digital genome market size is projected to reach US$ 69.12 billion by 2031 from US$ 20.12 billion in 2023. The market is expected to register a CAGR of 16.7% in 2023–2031. The increasing demand for personalized medicines is likely to remain a key digital genome market trend.
Digital Genome Market Analysis
Chronic diseases like diabetes, heart disease, stroke, cancer, and obesity are the leading causes of death in the world, accounting most of the nation’s healthcare costs. According to the report by the IDF Diabetes Atlas published in 2021, 537 million adults are living with diabetes and the number is projected to rise to 643 million by 2030 and 783 million by 2045. Moreover, the growing geriatric population and their related chronic diseases will also drive the digital genome market growth over the forecast period.
Digital Genome Market Overview
The research institutes carry numerous projects and studies to discover and study different aspects, characteristics, and applicability of digital genome in medical fields. The research institutes and academic centres many times enters into collaborations with the private companies to develop innovative therapies for the treatment of diseases. Additionally, increasing number of investments under research programs are projected to drive the segment growth. Recently, Illumina offers grants and sponsorships to support research that aligns mission to undo the genome power and drive the progress of genomics. Benefits and the accuracy offered by minimally invasive surgeries boost the growth of the digital genome market.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Digital Genome Market: Strategic Insights
Market Size Value in US$ 11,065.31 Million in 2019 Market Size Value by US$ 20,812.81 Million by 2027 Growth rate CAGR of 8.4% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Digital Genome Market: Strategic Insights
| Market Size Value in | US$ 11,065.31 Million in 2019 |
| Market Size Value by | US$ 20,812.81 Million by 2027 |
| Growth rate | CAGR of 8.4% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Digital Genome Market Drivers and Opportunities
Growing Funding for Genomics to Favor Market
Genomic sequencing is rapidly transitioning into clinical practice, and substantial government investment has supported implementation into healthcare systems. For instance, in March 2024, The Genome India Project, funded and coordinated by the Department of Biotechnology, announced they had finished sequencing 10,000 Indian genomes. The completed genomes, i.e., the DNA blueprint constituting and maintaining human bodies was analyzed from 10,000 individuals to create a ‘reference’ Indian human genome. The digital genome market is expected to grow during the forecast period due to funding from manufacturers and the government in the field of genomics.
Advancements in Genomic Technologies – An Opportunity in Digital Genome Market
Unprecedented developments in genomics research and technologies have created the potential for transformation in the healthcare and life sciences sectors. The clinical applications of genomic technologies are infinite and offer opportunities to enhance diagnosis and treatment capabilities for chronic disease. For instance, they offer huge potential in gene discovery and diagnosis of rare monogenic disorders. Genomic technologies also used to diagnose people with high-risk genetic errors leading to rare diseases. Additionally, Genomic technologies are increasingly being used to analyze rare and common genetic factors. For instance, in April 2020, Personal Genome Diagnostics received Food and Drug Administration (FDA) approval for PGDx elio tissue complete test. Personal Genome Diagnostics (PGDx) removes barriers to precision oncology testing to make timely, personalized cancer treatments a reality for all.
Digital Genome Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Digital Genome market analysis are product, application, and end user.
- Based on product, the digital genome market is divided into DNA/RNA analysis, sequencing chips, sequencing and analyzer instruments, sample prep instruments, and sequencing & analysis software. The sequencing and analyzer instruments segment held a larger market share in 2023.
- Based on application, the market is segmented into agricultural, diagnostics, academic research, personalizes medicine, drug discovery, and others. The diagnostics segment held a larger market share in 2023.
- In terms of end user, the market is segmented into academic research institutes, diagnostics and forensic labs, hospitals, and others. The diagnostics and forensic labs segment dominated the market in 2023.
Digital Genome Market Share Analysis by Geography
The geographic scope of the digital genome market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The digital genome market in North America is significant. In North America, the growth of digital genome market is is primarily driven by rapid screening technologies, increasing preference for personalized medicine, high R&D spending for therapeutic products and presence of leading market players in the US are going to accelerate the growth of this market in this country. For instance, in March 2024, US based Nucleus Genomics company, announced the launch of its DNA analysis product to bring the benefits of personalized medicine to everyone. Above factors is expected to positively affect the Digital Genome market growth.
Digital Genome Market Report Scope
Digital Genome Market News and Recent Developments
The digital genome market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- In Janurary 2023, QIAGEN Digital Insights (QDI) launched QIAGEN CLC Genomics Workbench Premium that removes the data-analysis bottleneck of next-generation sequencing (NGS) by to analyze and interpret whole genome sequencing (WGS), large panel sequencing data, and whole exome sequencing (WES). (Source: QIAGEN, Press Release)
- In August 2022, Mount Sinai Health System and the Icahn School of Medicine launched a new human genome sequencing research project called as Mount Sinai Million Health Discoveries Program with the Regeneron Genetics Center (RGC). Goal is to provide unique data set to researchers that will help them assess the true potential of genetics-based, precision medicine approaches to guide everyday patient care. (Source: Mount Sinai Health System, Newsletter)
Digital Genome Market Report Coverage and Deliverables
The “Digital Genome Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
- Digital genome market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Digital genome market trends
- Detailed PEST and SWOT analysis
- Digital genome market analysis covering key market trends, Global and regional framework, major players, regulations, and recent market developments
- Digital genome industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; Application ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Digital Genome Market
May 2024
Ovo-Sexing Technology Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technique (Non-Invasive Imaging, Genetic Editing, Volatile Analysis, Sex Reversal, and Liquid-Based Analysis), End User (Hatcheries and Poultry Farms), and Geography (US, Germany, France, Italy, Spain, Rest of Europe, Israel, and ROW)
May 2024
Dental Laser Treatment Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Hard Tissue, Soft Tissue, and Others), End User (Hospitals, Dental Clinics, Dental-Owned Practices, and Others), Clinical Indication [Conservative Dentistry, Root Canal (Endodontic Treatment), Oral Surgery, Implantology, Peri-Implantitis, Periodontics, and Others], and Geography
May 2024
Microbiology CRO Services Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Clinical, Medical Device, and Others), Service Type (Assay Development, Custom Viral Stock Production, Microbial Testing, and Others), Microorganisms (Bacteria, Fungi, Viruses, and Parasites), End User (Biotech and Pharmaceutical Companies, Medical Device Companies, and Others), and Geography
May 2024
Electronic Patient-Reported Outcomes (ePROS) Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Delivery Mode (Cloud Based and On-Premises), Application (Oncology, Respiratory, and Others), End User [Contract Research Organizations (CROs), Pharmaceutical Companies, and Others], and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
May 2024
Antimicrobial Surgical Suture Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Triclosan Antimicrobial Suture and Chlorhexidine Antimicrobial Suture), Raw Materials (Polyglactin 910 Antimicrobial Suture, Poliglecaprone 25, and Polyglycolic Acid), Application (Cardiovascular Surgery, General Surgery, Ophthalmic Surgery, Gynecological Surgery, Orthopedic Surgery, Plastic Surgery, Veterinary Surgery, Dental Surgery, and Others), End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
May 2024
Organoids Services Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Intestine, Liver, Stomach, Pancreas, Lung, Brain, Kidney, and Others), Application (Developmental Biology Disease, Pathology of Infectious Disease, Regenerative Medicine, Drug Toxicity & Efficacy Testing, Drug Discovery & Personalized Medicine, and Others), Source (Pluripotent Stem Cells and Organ Specific Adult Stem Cell), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
May 2024
Wellbeing Platform Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Service (Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, Comprehensive Wellbeing, and Others), Category (Fitness & Nutrition Consultant, Psychological Therapists, and Organization/Employers), Delivery Model (Onsite and Offsite), End User (Small-Scale Organizations, Medium-Scale Organizations, Large-Scale Organization, and Homecare), and Geography
May 2024
Smart Hospital Beds Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Patient Weight (Less than 70 lb, 70 to 150 lb, 150 to 400 lb, 400 to 500 lb, Greater than 500 lb); Offering (Products and Accessories, Software and Solutions, and Services); Application (Fall Prevention, Pressure Injury Prevention, Patient Deterioration and Monitoring, and Others); End User (Hospitals, Clinics and Nursing Homes, Ambulatory Surgical Centers, Medical Laboratories, Long Term Care Centers, and Others), and Geography
Get Free Sample For