Europe Digital Genome Market Growth and Analysis by 2027

The Europe digital genome market is expected to reach US$ 5,994.09 million by 2027 from US$ 3,250.04 million in 2019; it is estimated to grow at a CAGR of 8.1% from 2020 to 2027.

The key factors driving the growth of digital genomeare increasing prevalence of chronic diseases and growing funding for genomics in the region. However, security and confidentiality issue of the patient datais the major factor hindering the Europe Digital Genome market growth.

The digital genome is advanced progress in understanding animal and plant genetic material is being driven through advancements in DNA sequencing technology. It helps in gathering information related to chronic diseases and utilized to get an understanding of genetic disorders. A digital genome facilitates instant access to trait sequences to resolve unending custom queries.

A majority of older adults (>60%) suffer from two or more chronic conditions. Twin studies have long established that genes are the contributors to chronic conditions such as cardiovascular disease, diabetes, obesity, RA, Alzheimer's disease (AD), and depression. Recently, however, it has become possible to measure individual-level risks for these chronic diseases using molecular genetic data from genome-wide association studies (GWAS). Therefore, genetic sequencing makes them desirable for the screening of chronic diseases. According to World Health Organization (WHO), in 2005, almost 488,00 people died in UK due to chronic disease.

Cardiovascular diseases (CVDs) such as atherosclerosis, angina pectoris, and acute myocardial infarction are a significant cause of mortality owing to the present-day hectic lifestyle. Diabetes is one of the life-threatening chronic diseases with no functional cure. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with diabetes. As chronic diseases are increasing at a faster pace, the research on genomics for life-threatening illnesses has progressed rapidly over the last five years, thereby driving the market growth in the review period.

The outbreak of COVID-19 has led to thorough research on COVID-19 in the Europe. The European Commission and the European Bioinformatics Institute (EBI) have launched the European COVID-19 Data Portal. This brings together relevant datasets for sharing and analysis in an effort to accelerate COVID-19 research. Furthermore, ELIXIR provides a range of services that to the genomic researchers for studying the SARS-CoV-2 coronavirus and the COVID-19 disease. Thus, growing efforts for COVID19 research is expected to enhance the market growth of digital genome during the forecast period.

Rest of Europe Digital Genome Market,Revenue and Forecast to 2027 (US$ Mn)

EUROPE DIGITAL GENOME MARKET SEGMENTATION

By Product

• Sequencing and Analyzer Instruments
• DNA/RNA Analysis
• Sequencing and Analysis Software
• Sequencing Chips
• Sample Prep Instruments

By Application

• Diagnostics
• Drug Discovery
• Academic Research
• Personalized Medicine
• Agricultural
• Other

By End-User

• Diagnostics and Forensic Labs
• Academic Research Institutes
• Hospitals
• Other

By Country

• Germany
• UK
• France
• Italy
• Spain

Company Profiles

• THERMO FISHER SCIENTIFIC INC
• Illumina, Inc
• F. HOFFMANN-LA ROCHE LTD
• QIAGEN
• bioMerieux SA

Europe Digital Genome Report Scope