Dublin, July 03, 2020 (GLOBE NEWSWIRE) -- The "Global Digital Genome Market Forecast to 2027 - COVID-19 Impact and Analysis by Product, Application, End-user, Geography and Company" report has been added to ResearchAndMarkets.com's offering.
The global digital genome market was valued at US$ 11,065.31 million in 2019 and is projected to reach US$ 20,812.81 million by 2027; it is expected to grow at a CAGR of 8.4% during 2020-2027.
The growth of the digital genome market is mainly attributed to factors such as the increasing prevalence of chronic diseases and growing funding for genomics. However, dearth of skilled professionals is likely to restraint the growth of the market during the forecast years.
Genomic sequencing is rapidly transitioning into clinical practice, and implementation into healthcare systems has been supported by substantial government investment, accounting for US$ 4 billion in at least 14 countries. These national genomic medicine initiatives are driving transformative change under real-life conditions while simultaneously addressing barriers to implement and gather evidence for broader adoption.
The UK has announced the world's largest genome project as part of 200 million public-private collaboration between charities and pharmaceutical. The UK has already developed the largest genome database in the world through the 100,000 Genomes Project. Led by Innovate UK as part of UK Research and Innovation, the project will fund researchers and industry to combine data and real-world evidence from UK health services and create new products and services that diagnose diseases efficiently.
Moreover, in August 2018, Boston, a Massachusetts-based company, announced that it landed US$ 4.3 million in seed funding and that it would be partnering with Veritas Genetics, a genome sequencing company. The funds will support the company's mission to usher in the era of personal genome sequencing by creating a trusted, secure, and decentralized marketplace for genomic data.
Cardiovascular diseases (CVDs) such as atherosclerosis, angina pectoris, and acute myocardial infarction are a significant cause for mortality in the world owing to the present day hectic lifestyle. As per the data provided by WHO, CVDs are the number 1 cause of death globally, taking an estimated 17.9 million lives each year. Diabetes is one of the life-threatening chronic diseases with no functional cure. Diabetes of all types can lead to various complications in different parts of the body and can increase the overall risk of premature death.
Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with diabetes. As there is a significant increase in diabetes cases across the world, it results in life-changing complications among the population. According to the International Diabetes Federation (IDF), in 2017, 46 million diabetic patients were reported in North America, which is expected to reach 62 million in 2045. As chronic diseases are increasing at a faster pace, the research on genomics for life-threatening illnesses has progressed rapidly over the last five years, thereby driving the market growth during the forecast period.
Based on product, the digital genome market is segmented into DNA/RNA analysis, sequencing chips, sequencing and analyzer instruments, sample prep instruments, and sequencing and analysis software. The sequencing and analyzer instruments segment held the largest share of the market in 2019; whereas, the sequencing chips segment is estimated to register the highest CAGR in the market during the forecast period.
Based on application, the digital genome market is segmented into diagnostics, agricultural, academic research, drug discovery, personalized medicine, and other applications. The diagnostics segment held the largest share of the market in 2019; however, personalized medicine segment is estimated to register the highest CAGR in the market during the forecast period.
Based on end-user, the global digital genome market is segmented into diagnostics and forensic labs, academic research institutes, hospitals, and others. The diagnostics and forensic labs segment held the highest share of the market in 2019; whereas, the academic research institutes segment is estimated to register the highest CAGR in the market during the forecast period.
Key Topics Covered
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Digital Genome Market - By Product
1.3.2 Global Digital Genome Market - By Application
1.3.3 Global Digital Genome Market - By End-user
1.3.4 Global Digital Genome Market - By Geography
2. Digital Genome Market - Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Global Digital Genome Market - Market Landscape
4.1 PEST Analysis
4.1.1 North America - PEST Analysis
4.1.2 Europe - PEST Analysis
4.1.3 Asia-Pacific - PEST Analysis
4.1.4 Middle East and Africa - PEST Analysis
4.1.5 South and Central America - PEST Analysis
4.2 Expert Opinion
5. Digital Genome Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Funding for Genomics
5.1.2 Increasing Prevalence of Chronic Diseases
5.2 Market Restraints
5.2.1 Dearth of Skilled Professionals
5.3 Market Opportunities
5.3.1 Increasing Technological Advancement in Digital Genome Field
5.4 Future Trends
5.4.1 Increasing Demand for Personalized Medicines
5.5 Impact analysis
6. Digital Genome Market - Global Analysis
6.1 Global Digital Genome Market Revenue Forecast and Analysis
6.2 Global Digital Genome Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Digital Genome Market Analysis - By Product
7.2 Digital Genome Market Revenue Share, by Product (2019 and 2027)
7.3 DNA/RNA Analysis
7.4 Sequencing and Analyzer Instruments
7.5 Sequencing and Analysis Software
7.6 Sequencing Chips
7.7 Sample Prep Instruments
8. Digital Genome Market - By Application
8.2 Digital Genome Market, by Application, 2019 and 2027 (%)
8.4 Drug Discovery
8.5 Academic Research
8.6 Personalized Medicine
9. Digital Genome Market - By End-user
9.2 Digital Genome Market, by End-user, 2019 and 2027 (%)
9.3 Diagnostics & Forensic Labs
9.5 Academic Research Institutes
9.7 Other End-users
10. Digital Genome Market - Geographic Analysis
10.1 North America: Digital Genome Market
10.2 Europe: Digital Genome Market
10.3 Asia-Pacific: Digital Genome Market
10.4 Middle East & Africa: Digital Genome Market
10.5 South and Central America: Digital Genome Market
11. Impact of COVID-19 Pandemic on Global Digital Genome Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment of COVID-19 Pandemic
11.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.4 Rest of the World: Impact Assessment of COVID-19 Pandemic
12. Digital Genome Market - Industry Landscape
12.2 Growth Strategies Done by the Companies in the Market, (%)
12.3 Organic Developments
12.4 Inorganic Developments
13. Company Profiles
13.1 Thermo Fisher Scientific Inc.
13.2 F. Hoffmann-La Roche Ltd.
13.3 Illumina, Inc.
13.6 NanoString Technologies, Inc.
13.8 bioMerieux SA
13.9 GenMark Diagnostics, Inc.
13.10 Perkin Elmer, Inc.
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