by The global Digital Genome Market is estimated to be valued at US$ 26.59 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Digital genomes provide comprehensive digital profiling of an individual’s genome sequence data. By applying artificial intelligence and machine learning techniques to digital genome data, researchers are able gain new insights into disease pathways and accelerate discovery of new therapies. The application of AI in digital genomics helps identify disease-causing genomic variants, discover links between genomic data and clinical outcomes, extract knowledge from biomedical literature and more. The integration of AI and digital genomics is emerging as one of the fastest growing market segments.
Market Overview:
Digital genomes enable detailed analysis and secure storage of an individual’s genome sequence. Unlike traditional genome sequencing methods, digital genomes provide an easy to access digital representation of genetic information. By digitizing genomic data, institutions and researchers can securely share and pool genomic datasets to accelerate genomic research and discovery.
Market key trends:
One of the major trends in the Global Digital Genome Market is the use of artificial intelligence and machine learning tools for genomic data analysis. AI tools help identify patterns, relationships and insights hidden in huge genomic datasets. They can discover new disease subtypes and pathways by analyzing patterns across millions of genomic sequences and clinical records. AI also speeds up genome analysis and variant identification. It extracts knowledge from literature and links genomic data to outcomes. Deep learning models further improve disease risk prediction and therapeutic guidance. AI is revolutionizing genomic research by detecting hidden patterns at scale.
Segment Analysis
The global digital genome market is segmented by product & services, technology, application, and end user. Based on product & services, sequencing & analyzer instruments dominated in 2023 due to continuous decline in the cost of DNA sequencing and increased usage of next-generation sequencing technologies for whole-genome sequencing applications. Based on technology, sequencing dominates owing to continuous decline in the cost of DNA sequencing and increased usage of next-generation sequencing technologies for whole-genome sequencing applications.
Key Takeaways
The global digital genome market is expected to witness high growth, exhibiting CAGR of 18% over the forecast period, due to increasing demand for personalized medicine. The digital genome market size for 2023 is US$ 26.59 Bn.
Regional analysis
North America dominated the global digital genome market in 2023 owing to presence of major players, increasing funds for genomics research and personalized medicine from private and government bodies. Asia Pacific is anticipated to grow at the highest CAGR over the forecast period due to growing genomics research activities and rising awareness about personalized medicine in developing countries like China and India.
Key players
Key players operating in the digital genome market are Illumina (US),Thermo Fisher Scientific (US),Pacific Biosciences (US),Oxford Nanopore Technologies (UK),BGI Genomics (China),PerkinElmer (US),Qiagen (Netherlands),Roche Holding AG (Switzerland),Agilent Technologies (US),Bio-Rad Laboratories (US),Eurofins Scientific (Luxembourg),Genomic Health (US),Myriad Genetics (US),Foundation Medicine (US),GE Healthcare (US),Genewiz (US),Luminex Corporation (US),NanoString Technologies (US),ArcherDX (US),F. Hoffmann-La Roche Ltd (Switzerland).
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
