Increasing Prevalence of Chronic Diseases is Propelling the Growth of the Digital Genome Instrument Market in the APAC Region!
- Vikas Kumar
- November 24, 2023
- HEALTHCARE, NEWS
- Digital Genome Instrument Market Analysis, Digital Genome Instrument Market Forecast, Digital Genome Instrument Market Growth, Digital Genome Instrument Market Outlook, Digital Genome Instrument Market Share, Digital Genome Instrument Market Size, Digital Genome Instrument Market Trends
- 0 Comments
The Asia-Pacific digital genome instrument market is expected to witness significant growth in the coming years, driven by factors such as increasing investments in research and development, growing demand for personalized medicine, and rising awareness about genetic testing. The market is expected to be led by countries such as China, Japan, and India, which are home to some of the world’s largest and most advanced academic research institutes and pharmaceutical companies. For instance, as per the data of Ministry of Science and Technology, India’s spending on R&D is consistently increasing in the 10 years and has nearly tripled from USD 4778 million in 2007-08 to USD 13790.5 million in 2018-19.
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Further, the Asia-Pacific Digital Genome Instrument Market is expected to grow at a strong CAGR of 14% during the forecast period (2023-2030). The increasing healthcare expenditure in the region is the major reason for the market growth of digital genome instrument in the Asia-Pacific.
APAC Digital Genome Instrument Market Revenue (2020-2030)- USD Mn
Based on product type, the market is segmented into sequencing & analyzer instruments, DNA/RNA analysis kits, sequencing & analysis software, sample preparation instruments, and others. As per our analysis, the sequencing & analyzer instruments segment held a dominant share in 2022. The sequencing & analyzer instruments segment is a critical part of the digital genome instrument market. This segment includes a range of instruments such as next-generation sequencing (NGS) and Sanger sequencing instruments that are used to analyze genetic data and identify patterns and variations in DNA sequences. Due to the presence of a wide range of instruments in the segment, the sequencing & analyzer segment is witnessing dominating share of the market.
Based on the application, the market is segmented into microbiology, reproductive & genetic, transplantation & agriculture, and forensics. The microbiology segment is expected to grow with a higher CAGR in the digital genome instrument market during the forecast period. The human microbiome is a complex community of microorganisms that live on and inside the human body. Research into the microbiome is increasing, as scientists seek to understand the role of these microorganisms in human health and disease. This is driving the demand for digital genome instruments that can analyze microbial genomes.
Based on end-users, the market is segmented into academic research institutes, diagnostics & forensics labs, hospitals, and biopharmaceutical companies. As per our analysis, the hospital’s segment held a dominant share in 2022. The growth of the hospital segment is being driven by the increasing adoption of advanced technology, the growing demand for genetic technology, and the need for more efficient and cost-effective healthcare.
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Global Digital Genome Instrument Market Segmentation
Market Insight, by Application
- Microbiology
- Reproductive & Genetic
- Transplantation & Agriculture
- Forensics
Market Insight, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- APAC
- China
- Japan
- India
- Rest of APAC
- Rest of the World
Top Company Profiles
- Thermo Fisher Scientific Inc.
- BD
- Agilent Technologies, Inc
- Illumina, Inc.
- PacBio
- BIOMÉRIEUX
- Genomic Health, Inc.
- PerkinElmer Inc
- Quest Diagnostics.
