The global digital genome market is prognosticated by Transparency Market Research (TMR) to be bolstered by the rapidly emerging nature of the technology. In a report by TMR, titled “Digital Genome Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025,” the researchers are expected to provide an all-inclusive and in-depth analysis while taking into account verifiable projections, historical information, and qualitative and quantitative insights.
As per the intelligence report, the world digital genome market is anticipated to gain a large impetus due to the rise in funding directed toward digitalization, augmented research in genomics, and global growth in geriatric population. However, there could be other factors driving the demand in the world digital genome market, such as high demand for accuracy in the treatment and diagnosis of several diseases and elevating count of chronic disorders.
However, the stigma of the risk of side effects with the use of new products, lack of awareness, and high usage costs are expected to delay growth in the world digital genome market.
Nevertheless, novel initiatives such as Genes, Environment, and Health Initiative (GEI) proposed by the National Human Genome Research Institute in February 2016 could be a crucial factor escalating the growth of the world digital genome market. Government funding is prophesied to give a strong momentum to the world digital genome market and emerge as an unwavering growth driver. For instance, federal science agencies and departments receive a sturdy support from Canada’s Genomics R&D Initiative (GRDI) for the advancement of genome research.
Based of components, both services and software classifications of the international digital genome market are predicted to showcase dominance until the end of the forecast period. In respect of application, the analysts envisage the international digital genome market to be divided into academic research, personalized medicine, diagnosis, drug discovery, and other segments. Amongst these, drug discovery and diagnosis could register a substantial growth in the international digital genome market by securing a larger share. By end user, the international digital genome market could see academic and research institutes, forensic companies, and biotechnology and pharmaceutical companies as top classifications.
Followed by other dominating regions such as Europe and Asia Pacific, North America is envisioned to secure a commanding share in the international digital genome market. North America could ride on critical growth factors such as increasing availability of research subsidies and allowances, gene therapy developments in the U.S., implementation of point of care (POC) devices, and rising usage of sophisticated genome techniques.