The North America digital genome market is expected to reach US$ 9,594.71 million by 2027 from US$ 4,999.94 million in 2019. The market is estimated to grow at a CAGR of 8.7% during 2020-2027. The digital genome market is growing primarily due to the increasing prevalence of chronic diseases and growing funding for genomics in the North America region. Factors such as security and confidentiality issue damage the growth of the market. Additionally, increasing technological advancement in digital genome field and increasing demand for personalized medicines are likely to fuel the growth of the digital genome market during the forecast period.
The digital genome is advanced progress in understanding animal and plant genetic material is being driven through advancements in DNA sequencing technology.It helps in gathering information related to chronic diseases and utilized to get an understanding of genetic disorders.
A digital genome facilitates instant access to trait sequences to resolve unending custom queries.
The digital revolution in biology, driven by DNA sequencing, enables us to read the genomes of the myriads of microbes and multicellular organisms that populate the world.Today, the DNA sequences of over 200,000 microbial genomes are deposited in digital genome databases and have exponentially increased the understanding of how DNA programs living systems.
Genome engineering has excellent potential but faces many challenges before it can be effectively applied in all contexts. By using digital approaches, such as machine learning and modeling, can help overcome these obstacles.
Increasing technological advancements is expected to drive the growth of the digital genome market.For instance, in February 2018, the National Human Genome Research Institute (NHGRI) launched strategic planning, which will establish a 2020 vision for genomics research aimed at accelerating scientific and medical breakthroughs.
Furthermore, in the development of this strategic planning, the institute will engage experts and diverse public communities to identify various areas of genomics, which will expand the novel applications in human health and disease treatments. Such strategic initiatives are likely to offer growth opportunities for the market players to attain a significant position and grow in the digital genome market. In the United States, due to an increasing number of infected patients, healthcare professionals and leading organizations are conducting robust genomic research on COVID19.MedGenome, located in USA, is offering Covid-19 Research Services like NGS services to study the viral and host genomes for infection and disease for faster discovery of COVID-19 solutions.
Thus, such robust research activities on COVID 19 is likely to favor the growth of the digital genome market.
In 2019, the sequencing and analyzer instruments segment accounted for the largest share of the market.Growth in this segment can be attributed to the increasing adoption of analyzing instruments for sequencing by pharmaceutical and biopharmaceutical companies in advanced economies.
Moreover, companies are focusing on supplying superior quality instruments to research centers and pharmaceutical companies that are involved in developing therapies for genetic diseases, which will offer lucrative opportunities during the forecast period.
A few of the significant secondary sources associated with the North America Digital Genome market report World Health Organization (WHO), Centers of Disease Control and Prevention (CDC), OECD Health Statistics, International Diabetes Federation (IDF), National Human Genome Research Institute (NHGRI), and others.
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