Emerging digital genome technologies market

Posted 2023-10-20 10:03:21

Market key trends:

Some of the key trends in the digital genome market include increasing use of genome sequencing in precision medicine and diagnostics. Precision medicine is a medical model using genomic data to guide clinical decision making for disease prevention, diagnosis, and treatment. With sequencing costs reducing significantly, genome and exome sequencing can be used to understand disease risk, diagnosis, and develop targeted therapies. This is expected to drive increased genome sequencing and analysis needs.

Key Takeaways

The Global Digital Genome Market Size was valued at US$ 7,594.8 million in 2023. It is expected to witness high growth, exhibiting a CAGR of 10.9% over the forecast period, due to increasing adoption of genome sequencing in diagnostics and precision medicine.
The North America region dominated the market in 2023 due to high adoption of genome sequencing technologies and presence of key market players in the region. However, Asia Pacific is expected to witness the highest growth during the forecast period supported by increasing healthcare investments, expansion of key market players into emerging markets, and growing genomics research.
Regional analysis
Asia Pacific region is projected to showcase the highest growthduring the forecast period, owing to growing healthcare expenditure, rising incidence of chronic diseases, increasing research activities andgrowing demand for advanced genomic diagnostic techniques. Furthermore, expanding operations of key market players along with upcoming trade agreements in various countries arealso expected to contribute to the growth of digital genome market in Asia Pacific.
Key players operating in the 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, Desktop Genetics Ltd., and Ancestry.com LLC.