Market Trends of Global Digital Genome Industry
This section covers the major market trends shaping the Digital Genome Market according to our research experts:
Sequencing and Analysis Software Segment is Expected to Hold a Major Market Share in the Digital Genome Market Over the Forecast Period
By product, sequencing and analysis software segmented is expected to hold a major market share. Sequence analysis is the process of subjecting a DNA, RNA, or peptide sequence to any of a wide range of analytical methods to understand its features, function, structure, or evolution, and methodologies used include sequence alignment and searches against biological databases and others. The major factors fueling the market growth are the increasing research in sequence analysis as well as growing technological advancements.
Several market players are also contributing to the market growth. For instance, in July 2020, Illumina, Inc. introduced turn-key data analysis solutions to accelerate and facilitate the adoption of whole-genome sequencing with the launch of the TruSight Software Suite.
Also, in May 2022, NanoString Technologies, Inc. launched a seamless, cloud-based workflow that improves the spatial data analysis experience of customers using Illumina NextSeq 1000 and NextSeq 2000 sequencing systems and the GeoMx Digital Spatial Profiler.
Thus, due to the above-mentioned developments, the market is expected to witness significant growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall genomics market throughout the forecast period due to the rising incidence of chronic diseases, such as cancer, increasing government entities' investment in research, raising awareness of patients, and the availability of advanced healthcare infrastructure, contributing to the growing technological advances in this sector and rising demand for biotechnological practices in the region, is anticipated to drive the growth in the region. The domicile presence of some of the major players in the region also ensures the dominance of the region.
The current global pandemic created considerable opportunities for the domestic market players operating in the space. For instance, in March 2021, Applied DNA Sciences Inc. launched the Linea COVID-19 Selective Genomic Surveillance Mutation Panel to enhance the utility of limited Next Generation Sequencing (NGS) resources in the United States to track the SARS-CoV-2 Variants of Concern (VOCs) better at local, state, and federal levels.
In April 2021, Inscripta, a digital genome engineering company, announced the first commercial shipment of its Onyx platform. The platform is the world's first fully automated benchtop instrument for genome-scale engineering. Inscripta also announced its Series E funding of USD 150 million.
Thus, due to the above-mentioned developments, the market is expected to witness significant growth over the forecast period.
