Global Digital Genome Market to Reach USD 68.92 Billion by 2031 | CAGR of 13.2%
Category : Healthcare | Published Date : Oct 2024 | Type : Press Release
Digital Genome Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Digital Genome Market was valued at USD 26.03 Billion in 2023 and is projected to reach USD 68.92 Billion by 2031, growing at a CAGR of 13.2% from 2024 to 2031. A digital genome represents an individual's entire genetic information in a digital format, enabling advancements in analysis, medical research, and healthcare applications. This technology facilitates personalized treatment approaches and has applications across healthcare, forensics, agriculture, and bio-pharmaceutical research.
The report comprises the Digital Genome Market Share, Size & Industry Analysis, By Product (Sequencing Services, Sequencing Instruments, Software, Consumables, Bioinformatics Tools), Technology (Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Microarray Technology, Others), Application (Microbiology, Clinical, Industrial, Diagnostics, Drug Discovery and Development, Personalized Medicine, Agriculture & Animal Research, Forensics, Others), End-User (Academic Research Institutes, Diagnostics and Forensic Labs, Hospitals, Bio-pharmaceutical Companies), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Digital Genome Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Increasing demand for personalized medicine and advances in genomics technology are key drivers for market growth. Additionally, direct-to-consumer genomic services provide significant growth opportunities.
Segmental Analysis :
Based on product, the market includes sequencing services, sequencing instruments, software, consumables, and bioinformatics tools.
- Sequencing services held the largest share in 2023, driven by the need for genetic data in clinical diagnostics, genetic disorder identification, and disease research.
- Software is expected to grow at the fastest CAGR due to advancements in bioinformatics and the need to analyze large volumes of genomic data, facilitated by cloud computing and AI.
Based on technology, the market is divided into next-generation sequencing (NGS), polymerase chain reaction (PCR), microarray technology, and others.
- Next-generation sequencing (NGS) held the largest share in 2023, primarily due to its high-throughput capabilities and integration into clinical diagnostics.
- Microarray technology is anticipated to grow at the highest CAGR, driven by its utility in gene expression profiling and large-scale genetic studies.
Based on application, the market spans microbiology, clinical, industrial, diagnostics, drug discovery and development, personalized medicine, agriculture & animal research, forensics, and others.
- Diagnostics held the largest share in 2023, as genomic data is used extensively to identify genetic conditions, cancers, and infectious diseases.
- Personalized medicine is projected to witness the highest growth, with genomic data facilitating tailored healthcare solutions and preventive measures based on individual genetic profiles.
Based on end-user, the market includes academic research institutes, diagnostics and forensic labs, hospitals, and bio-pharmaceutical companies.
- Hospitals held the largest share in 2023, leveraging genomic data for precision medicine, especially in oncology, cardiology, and neurology.
- Bio-pharmaceutical companies are expected to grow at the fastest CAGR, driven by the demand for targeted therapies in oncology and rare diseases, supported by AI-driven bioinformatics tools.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America led the market in 2023 with a 41.65% share, driven by advanced healthcare infrastructure and leading genomics research initiatives.
- Asia-Pacific is expected to grow at the highest CAGR of 13.9%, fueled by increasing genomic research, advancements in healthcare infrastructure, and demand for personalized medicine, particularly in countries like Japan and South Korea.
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 68.92 Billion |
| CAGR (2024-2031) | 13.2% |
| By Product | Sequencing Services, Sequencing Instruments, Software, Consumables, Bioinformatics Tools |
| By Technology | Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Microarray Technology, Others |
| By Application | Microbiology, Clinical, Industrial, Diagnostics, Drug Discovery and Development, Personalized Medicine, Agriculture & Animal Research, Forensics, Others |
| By End-User | Academic Research Institutes, Diagnostics and Forensic Labs, Hospitals, Bio-pharmaceutical Companies |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Digital Genome Industry:
- Illumina, Inc. (USA)
- Thermo Fisher Scientific, Inc. (USA)
- QIAGEN N.V. (Germany)
- Agilent Technologies, Inc. (USA)
- Pacific Biosciences of California, Inc. (USA)
- F. Hoffmann-La Roche AG (Switzerland)
- Bio-Rad Laboratories, Inc. (USA)
- Oxford Nanopore Technologies Ltd. (UK)
- PerkinElmer, Inc. (USA)
- BGI Genomics Co., Ltd. (China)
Recent Industry Developments :
- In April 2024, Health Data Research UK and the Global Alliance for Genomics and Health formed a strategic partnership to integrate genetic data with medical records, facilitating collaborative research and advancing healthcare applications.
- In September 2024, Variantyx introduced Genomic Unity 2.0, a whole-genome diagnostic test combining long-read and short-read sequencing for comprehensive genetic analysis.
