How Has the Digital Genome Market Evolved Historically and What is its Current Size?
The digital genome market has seen considerable growth due to a variety of factors.
• The size of the digital genome market has significantly expanded in recent times. It is projected to increase from $39.25 billion in 2024 to $46.94 billion in 2025, boasting a compound annual growth rate (CAGR) of 19.6%.
The surge during the previous period can be traced back to increasing financial support for genomics, the decline in the cost and acceleration of DNA sequencing, the introduction of fresh players and start-ups in emerging economies, a rise in the discovery of drugs, and expansion of the biotech sector.
What Does Future Hold for The Digital Genome Market By 2029?
The digital genome market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the size of the digital genome market is anticipated to experience swift expansion, increasing to $97.13 billion by 2029 with a compound annual growth rate (CAGR) of 19.9%.
This predicted growth during the forecast span is due to factors such as higher incidence of genetic disorders, expanded research and development in the field of digital genome, rising utilization of personalized medicine, progress in biotechnology, and an increased prevalence of chronic illnesses. Key trends for this expected period encompass the growing use of next-generation sequencing technologies, innovative technological breakthroughs, widespread application of microorganisms in the diagnostic industry, escalating needs for personalized medication, and an increasing adoption of digital genomic technology in medical institutions like hospitals and clinics.
What Are The Primary Growth Drivers In The Digital Genome Market?
The rise in genetic disorders is anticipated to push the expansion of the digital genome market. Genetic disorders are hereditary illnesses that result from deformities or alterations in a person's DNA, which is the genetic data needed for body growth and functioning. The digital genome technology can pinpoint genetic changes and variations that connect with genetic disorders. This data is vital in diagnosing these disorders at an early stage, permitting timely actions and treatment. For example, the National Library of Medicine, a medical library based in the US, reported in August 2023 that sickle cell anemia, a genetically inherited disease, impacts around 1 in every 500 African Americans in the United States. Moreover, out of every 12 African Americans, approximately 1 carries the autosomal recessive mutation linked to this disease and around 300,000 infants are born with sickle cell anemia on an annual basis. Hence, the escalating prevalence of genetic disorders is propelling the growth of the digital genome market.
What Is The Segmentation Of The Global Digital Genome Market?
The digital genome market covered in this report is segmented –
1) By Type: Sequencing And Analyzer Instruments, Data Analysis And Management Tools
2) By Application: Diagnostics, Agriculture And Animal Research, Personalized Medicine, Drug Discovery, Treatment Analysis
3) By End User: Research Centers And Government Institutes, Academic Institutions, Pharmaceutical And Biotechnology Industries, Hospitals, Diagnostic Centers
Subsegments:
1) By Sequencing And Analyzer Instruments: Next-Generation Sequencing (NGS) Systems, Sanger Sequencing Systems, Single-Cell Sequencing Instruments, Third-Generation Sequencing Instruments
2) By Data Analysis And Management Tools: Bioinformatics Software, Data Management Platforms, Cloud-Based Analysis Solutions, Workflow Management Tools
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How Are Emerging Trends Reshaping The Dynamics Of The Digital Genome Market?
Leading businesses in the digital genome market, such as Illumina, Inc., are focusing on the creation of revolutionary products like the NovaSeq X Series. These products aim to enhance our understanding of diseases and bring a transformative impact on patients' lives. Part of the NovaSeq X Series are the NovaSeq X and NovaSeq X Plus systems, with the latter providing the capability to sequence over 128 genomes per run, and over 20,000 complete genomes annually. In September 2022, Illumina, Inc., based in the US and specializing in biotechnology, introduced the NovaSeq X Series, marking a significant leap forward in whole-genome sequencing technology. This system boasts several benefits, including cost-effectiveness throughout the process, simplified informatics, easy operation, advances in sustainability, and unparalleled support. It facilitates a more extensive and in-depth sequencing procedure, enabling users to expand any application to accommodate more samples and analyze data more efficiently. The NovaSeq X Series is engineered to be the most powerful and economical sequencing system, featuring enhanced reagent stability and quicker data transfers resulting from optimized genomics data compression. Moreover, with its reduced data footprint, this system significantly lowers storage and energy expenses, evidencing its design focus on advanced sustainability.
Who Are the Key Players In The Digital Genome Market?
Major companies operating in the digital genome market are:
• Roche Holding AG
• Thermo Fisher Scientific Inc.
• GE HealthCare Technologies Inc.
• Quest Diagnostics
• Eurofins Scientific SE
• Agilent Technologies Inc.
• Illumina Inc.
• bioMerieux SA
• PerkinElmer Inc.
• Bio-Rad Laboratories Inc.
• Qiagen N.V.
• BGI Genomics
• Myriad Genetics Inc.
• Foundation Medicine Inc.
• ArcherDx Inc.
• Invitae Corporation
• Oxford Nanopore Technologies Ltd.
• Luminex Corporation
• GenMark Diagnostics Inc.
• NanoString Technologies Inc.
• Pacific Biosciences of California Inc.
• Genewiz
• Inscripta Inc.
• Genomic Health Inc.
• Becton Dickinson and Company
• GenomeMe
• Regeneron Pharmaceuticals Inc.
What Are The Regional Insights Into The Digital Genome Market?
North America was the largest region in the digital genome market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital genome market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
