Market Drivers
One of the major drivers for the digital genome market is the growing application of genomic data in the development of therapeutics based on a patient's molecular profile through techniques like pharmacogenomics. Genomic information can help determine suitable drug targets and predict drug response variability. This is positively impacting R&D spending on precision medicines. Additionally, the use of digital genomes is growing through applications in disease research via initiatives involving biobanks, electronic health records integration and national genome projects. Digital Genome Market Demand of genomic information with broader omics datasets through platforms relying on artificial intelligence and cloud computing is further poised to drive future demand over the forecast period.
The current geopolitical situation is impacting the growth of the digital genome market.
The ongoing Russia-Ukraine conflict and increased tensions between major global economies like the US and China have disrupted supply chains and made cross-border collaboration more difficult. This is hampering genome research activities that require international teams and access to genomic data from multiple countries. The restrictions on travel and trade are limiting the transfer of technology, expertise and biological samples needed for genome sequencing and analysis.
Rising nationalism and protectionist policies pursued by some nations pose a challenge for a field like genomics that greatly benefits from open data sharing and a collaborative approach. Going forward, market players will need to diversify their supply networks, find alternatives to imports from conflict-affected regions and seek new collaborative partnerships to offset geopolitical risks. Developing local expertise, establishing regional genomic databases and investing in pandemic preparedness infrastructure can also help mitigate dependence on global cooperation in times of strained international relations.
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