Digital genome companies are at the forefront of the genomics revolution, specializing in the acquisition, analysis, and interpretation of genomic data through advanced digital technologies. These companies leverage cutting-edge computational and bioinformatics tools to decode and interpret the information contained within an individual's genetic material.
Latest Digital genome Companies Update
Apr 2023: To enhance its health and service continuum, Beneva is incorporating BiogeniQ's pharmacogenetic tests into its best practices for managing disability and rehabilitation. Therefore, Beneva wants to expand the scope of its healthcare offering to encompass various health conditions, particularly those related to chronic pain, to support its plan members better. It also wants to improve the deployment of this solution by making it more accessible to more Canadians. Adding BiogeniQ's ground-breaking tool to our support plans is a testament to our dedication to offering our covered plan members cutting-edge, compassionate options to enhance their health. Research has demonstrated that by increasing the likelihood of rehabilitation, a customized approach based on pharmacogenomic studies shortens the duration of impairment brought on by long-term illnesses or mental health issues.
A $20 million capital commitment has been made to Genomes.io, a biotech company based in London specializing in the secure monetization of genomic data, by GEM Digital Limited, a digital asset investment corporation established in the Bahamas. According to Genomes.io, the money will be used to boost the company's technological advancement and increase the number of customers who may use its reporting and vault services. With the support, they will be able to democratize the genetics market by utilizing their decentralized technology to make it far more transparent and egalitarian.
The Digital Genome Market size is expected to reach USD 32.5 Billion by 2032 at 10.5% CAGR during the forecast period 2023-2032. The digital genome market is expected to witness tremendous growth during the forecast period. Digital genome can be used in the diagnosis of rare diseases, genetic diseases, cancer, neurological disorders and others. The rising prevalence of chronic diseases such as breast cancer is driving the market growth. Other essential factors influencing the growth of the market are increasing geriatric population, need for efficient diagnosis and treatment, increasing number of drug discoveries, growing biotech sector, increasing research in the field of genomics and rise in funding related to digitalization. Variants of Presenilin gene lead to Alzheimer’s disease. According to Alzheimer's Association in 2018, 5.7 million people are from Alzheimer’s disease in the Americas. With the help of digital genome identifying genomic variants is easy.
However, factors such as high costs of digital genome techniques, lack of knowledge about the digital genome, security issues and inaccurate results are some of the factors expected to hinder the market growth during the forecast period.
Digital Genome Market, by Key Players
The digital genome market is segmented on the basis of product, application, and end-user. The digital genome market, by product, is segmented into sequencing services, sequencing instruments, sequencing consumables, bioinformatics and sample preparation kits and reagents. The application segment is segmented into diagnostics, agriculture & animal research, personalized medicine, drug discovery and treatment analysis. On the basis of end-user, the market is categorized into research centers and government institutes, academic institutions, pharmaceutical & biotechnology industries, hospitals, and diagnostic centers. On the basis of region, the digital genome market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
The Americas is sub-segmented into North America and South America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, the Republic of Korea, and the rest of Asia-Pacific. The Middle Eastern and African region is sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the Middle East and Africa.
Regional Market Summary
Digital Genome Market Share (%), by Region
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Sources: Alzheimer's Association, European Commission, American Diabetes Association, Ministry of Finance - KSA
The digital genome market is dominated by America owing increasing prevalence of chronic diseases like cancer and diabetes. The Breastcancer.org estimated 266,120 new cases of invasive breast cancer and 63,960 new cases of non-invasive breast cancer in America in 2018. Thus, this provides favorable backgrounds for the market to grow.
It is estimated that Europe stood second in the digital genome market. The rising demand for personalized medicine and targeted therapy is driving the growth of the market. The European Alliance for Personalized Medicine (EAPM) founded in March 2012, is involved in enhancing patient care for chronic diseases through personalized medicine. According to the European Commission in April 2018, 13 European countries have signed a declaration to share the genomic data to allow personalized treatments against cancer, rare diseases, and neurological diseases.
The digital genome market in Asia-Pacific is expected to witness growth owing to rising diabetes in this region. According to the American Diabetes Association in 2016, the Western Pacific has more than 138.2 million diabetic patients. Also, the rising healthcare spending and growing biotech sector drive the market growth in this region.
The Middle East and Africa holds the least share in the digital genome market due to low funding in medical and health research. However, the rising prevalence of chronic diseases and increasing healthcare spending favors market growth in this region. According to the Ministry of Finance - KSA (Kingdom of Saudi Arabia) in 2018, 147 billion riyals (USD 39.2 billion) have been allocated for the Health and Social Development Sector. This enhances the market growth of digital genome in this region.
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