The Global Digital Genome Market, by Product Type (Sequencer & Analyzers, Reagents & Kits, and Sequencing & Analysis Software), by Application (Clinical (Reproductive Health, Oncology, and Others), Forensics, Drug Discovery and Development, and Other Applications), by End User (Hospitals, Diagnostic Centers, Research Institutes, Biotechnology and Pharmaceutical Companies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 7.5 billion in 2018, and is projected to exhibit a CAGR of 10.9% during the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Key players in the market are engaged in development of digital genome, owing to greater future prospects of digital genome in the detection of chronic and infectious disease, birth anomalies, drug discovery & development, and diverse clinical applications. Also, market players are adopting inorganic growth strategies to increase their market presence.
For instance, in October 2016, IBM Corporation collaborated with Quest Diagnostics, an American clinical laboratory, launched IBM Watson Genomics, which can be used for Quest Diagnostics. The service is intended to be used for precise medicine for cancer.
In December 2017, PerkinElmer collaborated with Neuromuscular Disease Foundation for launching Whole Genome Sequencing research conducted for the rare muscle disease.
Furthermore, in July 2018, Google partnered with National Institutes of Health for developing Google Cloud for the biomedical research.
Browse 22 Market Data Tables and 26 Figures spread through 161 Pages and in-depth TOC on ‘Digital Genome Market, by Product Type (Sequencer & Analyzers, Reagents & Kits and Sequencing & Analysis Software), by Application (Clinical (Reproductive Health, Oncology, and Others), Forensics, Drug Discovery and Development and Other Applications), by End User (Hospitals, Diagnostic Centers, Research Institutes, Biotechnology and Pharmaceutical Companies and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026’
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Furthermore, key players in these market are focused on acquisition strategies to expand their geographical presence.
For instance, in January 2016, Thermo Fisher Scientific acquired Affymetrix in order to obtain its chips used for genotyping, cytogenetics and gene expression and array-based platforms for around US$ 1.3 billion.
In June 2018, Roche made definitive merger agreement to acquire Foundation Medicine, Inc. This merger agreement enable both companies to accelerate the broad availability of comprehensive genome profiling in oncology.
In October 2017, Eurofins Scientific signed an agreement to acquire Forensics and Security division of LGC (LGC Forensics).
Key Takeaways of the Digital Genome Market:
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