Digital Genome Global Market Report 2024

The digital genome market size has grown rapidly in recent years. It will grow from $32.25 billion in 2023 to $39.25 billion in 2024 at a compound annual growth rate (CAGR) of 19.7%. The expansion observed during the historic period can be attributed to several key factors, including increased funding for genomics research, advancements leading to reduced costs and higher speeds of DNA sequencing, the entry of new players and startups in developing economies, a rising number of drug discoveries, and the growth of the biotechnology sector.

The digital genome market size is expected to see rapid growth in the next few years. It will grow to $80.93 billion in 2028 at a compound annual growth rate (CAGR) of 19.8%. The anticipated growth in the forecast period can be attributed to several significant factors, including the rising prevalence of genetic disorders, increasing research and development efforts focused on digital genome technologies, the growing adoption of personalized medicine approaches, advancements in biotechnology, and the increasing incidence of chronic diseases. Major trends expected during this period encompass the increasing adoption of next-generation sequencing technologies, continuous technological advancements, widespread utilization of microorganisms in the diagnostics industry, growing demand for personalized medicines, and the rising adoption of digital genomic technologies by hospitals and clinics.

The growing prevalence of genetic disorders is poised to drive the expansion of the digital genome market in the foreseeable future. Genetic disorders, stemming from abnormalities or mutations in an individual's DNA, pose significant health challenges, necessitating accurate diagnosis and timely intervention. Digital genome technologies play a pivotal role in this landscape by facilitating the identification of genetic mutations and variations associated with these disorders. This enables precise and early diagnosis, thereby enabling prompt intervention and treatment strategies. For instance, data from the National Library of Medicine in August 2023 highlighted the impact of sickle cell anemia, affecting approximately 1 in 500 African Americans in the United States, with about 1 in 12 carrying the autosomal recessive mutation responsible for the disease. With approximately 300,000 infants born with sickle cell anemia annually, there is a critical need for advanced diagnostic tools, underscoring the significance of the digital genome market.

Key players within the digital genome market are actively engaged in the development of innovative products aimed at revolutionizing disease understanding and patient outcomes. One such innovation is the NovaSeq X Series, comprising the NovaSeq X and NovaSeq X Plus systems. Notably, the NovaSeq X Plus system stands out for its ability to sequence over 128 genomes per run and generate more than 20,000 whole genomes annually. For instance, in September 2022, Illumina, Inc., a leading US-based biotechnology company, introduced the NovaSeq X Series, marking a significant advancement in whole-genome sequencing technology. This system prioritizes cost-efficiency across the workflow, boasting streamlined informatics, operational simplicity, sustainability enhancements, and comprehensive support services. Additionally, it facilitates broader and deeper sequencing, enabling users to scale up applications, process more samples efficiently, and analyze data effectively. Engineered for sustainability, the NovaSeq X Series minimizes data footprint, reducing storage and energy consumption costs while enhancing reagent stability and accelerating data transfers through optimized genomics data compression. As a purpose-built solution, the NovaSeq X Series represents a paradigm shift towards potent and cost-effective sequencing platforms, poised to drive significant advancements in genomic research and clinical diagnostics.

In August 2021, Genome Medical, a leading US-based company specializing in genomic care delivery, finalized the acquisition of GeneMatters for $60 million. This strategic acquisition was undertaken to reinforce Genome Medical's presence within the virtual genetics counseling sector and to broaden its scope in offering genetic services to a wider range of patients and providers. Furthermore, the acquisition facilitated the amalgamation of two distinguished teams comprising industry innovators and clinical experts, establishing Genome Medical as a prominent leader in digital health for genomic medicine. GeneMatters, also headquartered in the US, is renowned for its telehealth genetic counseling services and software solutions, contributing to the expansion of digital genome services.

Major companies operating in the digital genome market report 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.

North America was the largest region in the digital genome market in 2023. 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. The countries covered in the digital genome market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The digital genome represents the digitized and systematically organized collection of an organism's genetic material, encompassing its DNA (deoxyribonucleic acid) and RNA (ribonucleic acid) sequences. This digital format enables the storage, analysis, and interpretation of genetic data utilizing computational tools and technologies. Digital genomes play a crucial role in comprehending genetic variations, disease mechanisms, and evolutionary relationships.

The primary types of digital genome comprise sequencing and analyzer instruments, along with data analysis and management tools. Sequencing and analyzer instruments encompass equipment utilized in genomic sequencing and analysis procedures, crucial for decoding the genetic information contained within DNA and RNA molecules. These instruments find applications across various fields such as diagnostics, agriculture, animal research, personalized medicine, drug discovery, and treatment analysis. They are utilized by research centers, government institutes, academic institutions, pharmaceutical and biotechnology industries, as well as hospitals and diagnostic centers.

The digital genome market research report is one of a series of new reports that provides digital genome market statistics, including digital genome industry global market size, regional shares, competitors with a digital genome market share, detailed digital genome market segments, market trends and opportunities, and any further data you may need to thrive in the digital genome industry. This digital genome market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The digital genome market consists of revenues earned by entities by providing services such as DNA (deoxyribonucleic acid) and RNA (ribonucleic acid) isolation, profiling, qPCR, next-generation sequencing, and advanced bioinformatics data analysis pipelines. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital genome market also includes sales of sequencing and analyzer instruments, sequencing chips, sample preparation instruments, and sequencing and analysis software. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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