Seattle, WA -- (SBWIRE) -- 09/23/2019 -- Digital Genome Market - Insights
One of the emerging technologies in DNA sequencing, digital genome aids to conduct human genome be sequencing and digitization. The process requires very less time and is cost-effective. Digital genome sequencing is more efficient compared to the first sequencing of the 3.2 billion base pairs of a DNA that make up the human genome. The sequencing of the 3.2 billion base pairs consumed several years and accounted for several million dollars in expenditure. Such continuous development in the field of digital genome aids in rapid and cost-effective delivery of DNA sequencing, which in turn can assist in development of personalized medicine and clinical treatments.
The Global Digital Genome Market is estimated to be valued at US$ 7,594.8 million in 2018, and is expected to witness a CAGR of 10.9% during the forecast period (2018–2026).
Get Sample Copy of Digital Genome Market Research Report @ https://www.coherentmarketinsights.com/insight/request-sample/136
Increasing technological developments in the field of digital genome is expected to boost the market growth
Rapid technological developments in digital genome and increasing awareness regarding role of genomes in the diagnosis of diseases such as cancer, diabetes, and Attention Deficit Hyperactivity Disorder (ADHD) is expected to boost the growth of the digital genome market. For instance, in February 2018, the National Human Genome Research Institute (NHGRI) launched a strategic planning, which will establish a 2020, vision for genomics research aimed at accelerating scientific and medical breakthroughs. Furthermore, the institute is expected to entertain experts and diverse public communities to recognize various areas of genomics, which will expand the novel applications in human health and disease treatments.
The use of Artificial Intelligence and Machine Learning has increased for various issues that arise in genomics such as annotating genomic sequence elements, recognizing splice sites, promoters, enhancers, and positioned nucleosomes. For instance, Sapientia: a clinical genomics analysis platform from Congenica, uses algorithms to annotate and priorities variants from whole-exome sequencing to assist in the diagnosis of rare disease.
In December 2017, Google released DeepVariant: an Artificial Intelligence (AI) tool, which uses AI techniques to build more precise picture of any individual's genome from sequencing data. DeepVariant automatically identifies small insertion and deletion mutations and single base-pair mutations in sequencing data.
In February 2018, the Canadian Genomics Cloud launched an advanced public cloud platform that allows researchers from Canada to securely store, share, and analyze genomics data for further discoveries.
Increasing Adoption of Personalized Medicine is expected to propel the Market Growth
The preference for adoption of genomes to project reactions of medication is increasing in order to promote safe and effective treatment of cancer, Attention Deficit Hyperactivity Disorder (ADHD), and diabetes. This in turn is expected to boost the market growth. Moreover, increasing adoption of nutrition profiling where DNA is used to prevent development of chronic diseases is also expected to drive the market growth.
According to the World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality across the world, with around 14 million new cases reported worldwide in 2012. The World Health Organization (WHO) also suggests that 30-50% deaths caused due to cancer can be prevented by adequate treatment in early stages and can drastically reduce risk factors. In these scenario, personalized medicine offers most promising approaches to tackle diseases, which have far eluded effective treatments or cures.
Personalized medicine is an emerging approach for disease treatment and prevention, which takes into account individual variability in genes, environment, and lifestyle for each person. In September 2018, Congenica: a diagnostic decision support platform provider entered into an agreement with Digital China Health Technologies Cooperation Limited (DCHealth) to introduce the genomic medicine in the Chinese market. In this partnership, Congenica will develop a version of its Sapientia platform is designed to enable healthcare professionals and patients in China to benefit from the clinical genomics and personalized medicine. DCHealth will offer its significant commercial network and experience in the Chinese hospital market to accelerate the commercialization of this locally-adapted version of Sapientia.
Among region, North America is expected to be the most attractive region for digital genome market due to presence of key players in the region, which are majorly involved in gaining regulatory product approvals and launches of innovative digital genome-based products and technologies in this market. Increasing awareness regarding personalized medicines and its effectiveness in the targeted treatment of cancer and various other infectious diseases, will lead to generate increased demand for digital genome technologies in near future, in these region.
Expanding healthcare infrastructure in emerging economies such as India and growing incidence of disease burden in this country are contributing to growth of the digital genome market in Asia Pacific. For instance, in October 2017, Genome India Project was launched in the northeast region of India, which involves Whole Genome Sequencing (WGS) of over 2,000 individuals of different ethnic, linguistic, and social-cultural section of the northeastern states. This genetic information will be helpful in reducing disease burden by the application of personalized medicine.
Key players operating in the global digital genome market include, Illumina, Inc., PerkinElmer, Inc., Pacific Biosciences of California, Inc., Thermo Fisher Scientific Inc., Oxford Nanopore Technologies Limited, Nanostring Technologies, Inc., IBM Corporation, Google LLC, Amazon.com, Inc., Deep Genomics, Deep Genomics, Deep Genomics, Desktop Genetics Ltd., and Ancestry.com LLC.
Look Insights Of Global Digital Genome Market Research Report @ https://www.coherentmarketinsights.com/market-insight/digital-genome-market-136
Global Digital Genome Market, By Product Type:
Sequencer & Analyzers
Reagents & Kits
Sequencing & Analysis Software
Global Digital Genome Market, By Application:
- Reproductive Health
Drug Discovery and Development
Global Digital Genome Market, By End User:
Biotechnology and Pharmaceutical Companies
Global Digital Genome Market, By Geography:
We Offer Customized Report, Click @ https://www.coherentmarketinsights.com/insight/request-customization/136
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.