The Asia Pacific digital genome market is expected to reach US$ 4,118.86 million by 2027 from US$ 2,077.27 million in 2019. The market is estimated to grow at a CAGR of 9.1% during 2020-2027. The digital genome market is growing primarily due to the increasing prevalence of chronic diseases and growing funding for genomics in the Asia Pacific region. Factors such as dearth of skilled professional damage the growth of the market. Additionally, increasing technological advancement in digital genome field and increasing demand for personalized medicines are likely to fuel the growth of the digital genome market during the forecast period.
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. According to National Health Commission (NHC), China has over 180 million elderly citizens suffering from chronic diseases, of whom 75 percent have more than one. In addition, population aging in China and India will likely be accompanied by an increase in chronic disease burden. 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.
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. Cardiovascular diseases (CVDs) became the leading cause of mortality in India. This epidemiological transition is largely because of the increase in the prevalence of CVDs and CVD risk factors in India. In 2016, the estimated prevalence of CVDs in India was estimated to be 54.5 million. These diseases tend to affect patients in the most productive years of their lives and result in catastrophic social and economic consequences. 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.
Asia Pacific countries are expecting to witness huge challenge due to growing COVID-19. Considering the economic operations and geographic condition, the outbreak of disease has affected the healthcare infrastructure in Asia Pacific low-income countries. The Countries in Asia have started studying the genome of corona virus. Similarly, Indian scientists have started genome sequencing of the strains of the coronavirus This is the part of large sequencing project led by the New Delhi-based National Centre for Disease Control. Thus, such genome sequencing activities is expected to favour the growth of digital genome in Asia Pacific region.
In 2019, the sequencing and analyzer instruments segment accounted for the largest share of the market. Growth in this segment can be attributed to the increasing adoption of analyzing instruments for sequencing by pharmaceutical and biopharmaceutical companies in advanced economies. Moreover, companies are focusing on supplying superior quality instruments to research centers and pharmaceutical companies that are involved in developing therapies for genetic diseases, which will offer lucrative opportunities during the forecast period.
A few of the significant secondary sources associated with the Asia Pacific Digital Genome market report World Health Organization (WHO), National Health Commission (NHC), Globocan 2019 report and others.