Digital Genome Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Nov 2018 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Digital Genome Market Overview

Digital genome is the complete digital set of genes or genetic material present in a cell or organism. Genome is the branch of biology that deals with the study of genes and their functions. Digital genome allows the conversion of this large volume of data into products and services. A digital genome act as a pivot table that allows instant access to trait combinations to solve seemingly endless custom queries. The development of polymerase chain reaction (PCR) enabled researchers to characterize the genome at gene level. Digital genome allows researchers to study and review a broad range of genome in-depth, base by base interrogation of particular loci, research and development for drug discovery and precision medicine application

Digital genome market is segmented on the basis of component type, application, and end users. On the basis of component, the market is segmented to hardware, software and services. Services and software segment is expected to contribute the major market share in the overall digital genome industry. On the basis of application, digital genome market is segmented into diagnosis, drug discovery, personalized medicine, academic research, and agricultural. Diagnostic and drug discovery application segment of market is expected to contribute major share to the overall market in the foreseeable future.

Global Digital Genome Market Taxonomy

The global digital genome market is classified on the basis of the following segments:

  • Component Type
    • Hardware
    • Software
    • Services
  • Application
    • Diagnostics
    • Drug Discovery
    • Personalizes Medicine
    • Academic Research
    • Agricultural
    • Others
  • End Users
    • Biotechnology and Pharmaceutical Company
    • Forensic Company
    • Academic and research Institute
    • Others

Prevalent Scenario in Digital Genome Market

Increasing technological advancements and growing awareness related to the use of genomes for diagnosis of diseases such as cancer, diabetes, and Attention Deficit Hyperactivity Disorder is expected drive market growth. Cancer creates major disease burden on the society. In 2016, an estimated 1,685,210 new cases of cancer were diagnosed in the U.S.  As per American Diabetes Association in 2012, approximately 1.25 million children and adult in the U.S. suffered from Type 1 diabetes. The growing chronic diseases and increasing geriatric population is creating a focus towards the need of better effective drugs creating opportunity for digital genome service providers. Increasing research in genomics and rising investments, grants, and funds by government in the field genomics is creating opportunity for the digital genome developers and providers. In February 8, 2016, National Human Genome Research Institute launched its new initiative Genes, Environment and Health Initiative (GEI) to support the research that lead to the understanding of genetic contribution and their effect in common diseases. The Genomics R&D Initiative (GRDI) in Canada coordinates with the federal science departments and agencies in the field of genomics. The growing trend towards using genome for pharma to predict reaction of medication for safe and effective treatment and ADHD pharma for personalized and safe treatment to choose most appropriate treatment for ADHD, and nutrition profiling where DNA is used to prevent development of chronic diseases is expected to act as major growth drivers for the digital genome market. High costs associated with the use of digital genome and less awareness about digital genome in emerging economies is expected to hamper growth of this market. North America and Europe are expected to be the growth engines of the global digital genome industry, owing to high awareness and better acceptance of advanced technologies in these regions. The emerging pharmaceutical and biotechnology companies in Europe are also expected to subsequently fuel growth of the market of digital genome in the region. On the other hand, Asia Pacific provides opportunity to digital genome manufacturers due to the increasing incidence of diseases and rising focus on research activities in these regions.

Fragmented Market

The global digital genome market is highly fragmented due to the participation of many established and emerging players in the market. Major players involved in the market include Illumina Inc., Umbel, BiogeniQ, GenomeMe, NanoString Technologies and NanoString.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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