Inkwood Research estimates that the Global Digital Genome Market is evaluated to project a CAGR of 9.43% in terms of revenue during the forecasting years of 2021-2028.
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The digital genome is characterized by a comprehensive
digital set of genetic material that occurs in an organism or cell or. It
entails implementing computational methods, in order to overcome challenges
through optimizing and modeling genome engineering applications. Moreover,
digital genomics deals with genes, in addition to their functionality. The
approach also helps find the causes associated with chronic disorders as well
as resolve them. In this regard, the technology has sparked an uprising in
terms of invention-centered research and systems biology, to accelerate the
most complex genetic systems’ insights.
Technical
Advancements to Drive Market Growth
The digital revolution in the avenue of biology, essentially
fueled by DNA sequencing, enables reading the genomes of multicellular
organisms and other microbes populating the world. Presently, the DNA sequences
of more than 200,000 microbial genomes are recorded in digital genome databases.
This has remarkably enhanced the understanding of how DNA contributes to
programming living systems.
Although genome engineering possesses excellent potential,
it continues to face numerous challenges before being effectively applied across
all frameworks. However, using digital approaches, including modeling and
machine learning, can significantly help overcome these difficulties. As a
result, the augmenting technical advancements are anticipated to propel the
global digital genome market growth.
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Diagnostics
was the Dominating Application in 2020
Unprecedented developments across genomics technologies and
research have generated the potential for transforming the life sciences field
as well as the healthcare industry. The vast clinical applications of genomic
technologies provide several opportunities to improve the diagnosis and
treatment competencies, especially in terms of chronic conditions. For
instance, they offer tremendous possibilities regarding the diagnosis of rare
monogenic disorders and gene discovery.
Genomic technologies can also be utilized for diagnosing
patients with high-risk genetic errors, resulting in rare conditions. Moreover,
they are also used across applications like, the analysis of customary and rare
genetic aspects influencing the development of common diseases, including
diabetes, cancer, and high blood pressure.
North
America to Hold the Highest Market Share by 2028
North America is projected to dominate the global digital
genome market over the forecast period. The region’s market growth is mainly
fueled by the increased adoption of advanced technologies by the United
States-based research institutions, the growing prevalence of monogenic
conditions, high investments associated with gene therapy, and the surging
prevalence of dementia, Alzheimer’s disease, and cancer.
The demand for digital genome products is rising, owing to
the increasing occurrence of chronic conditions. This factor has led to
numerous pharmaceutical companies entering the industry for R&D purposes.
Moreover, domestic as well as multinational firms also attempt to introduce
technologically advanced products in the market, thereby enhancing the
company’s bottom line. As a result, the threat of competitive rivalry within
the global market is high.
Some of the distinguished companies operating in the market
are, F. Hoffmann-la Roche, PerkinElmer Inc, Biomerieux SA, etc.
About Inkwood Research
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technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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