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The increasing demand for data security of unique genomic data and the increased adoption in the clinical workflow of genomic data is driving the demand
VANCOUVER, BRITISH COLUMBIA, CANADA, January 30, 2023 /einpresswire.com / -- The global blockchain in genomics market is forecasted to be worth USD 1,258.3 Million by 2027, according to a current analysis by Emergen Research. Due to the growing demand for data protection for distinctive genomic data, the global blockchain in the genomics market is anticipated to expand exponentially. In addition, increased adoption of genetic information in the medical practice is anticipated to further drive market growth over the forecasted timeframe. Moreover, private entities and venture capitalists' rising funding is anticipated to augment the market growth shortly. The high cost of maintenance is likely to hinder the market growth over the forecasted timeframe.
The latest research report serves as a perfect example of the precise analysis of the global blockchain in genomics market. It includes the ToC, list of tables and figures, research methodology, geographic segmentation, competitive landscape, future developments, and technological innovation. Moreover, the report offers the latest coverage of the massive impact of the COVID-19 pandemic on the worldwide blockchain in genomics industry. The globally-disrupting incidence has impacted nearly every aspect of this business domain. However, the latest study expounds on the present market scenario and forecasts the pandemic's aftermath, with respect to this industry. Furthermore, the major aspects of the market have been discussed in the report, with expert opinions on the current status of the market.
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Some Key Highlights from the Blockchain in Genomics Market Report
In September 2019, Nebula Genomics, Inc. launched blockchain-based DNA sequencing. With the introduction of blockchain-based DNA sequencing, the firm will enhance its market position.
Over the forecast timeline, the utility segment is anticipated to lead the market. It offers a form of digital coupon that can be easily traded in the future for discounted fees or exclusive exposure to a service.
The segment of Business to Business (B2B) is expected to lead the market with a CAGR of 66.0%. The company's adoption of blockchain technology's main benefits entail the unparalleled standards of safety, privacy, and productivity it offers.
In the forecast timeframe, the data sharing and monetization segment are projected to dominate the market. Both sellers and buyers are allowed to connect in a monetized way with personal data with Blockchain technology.
In the forecast period, the segment of Pharmaceutical and Biotechnology will dominate the market. There are a wide variety of feasible implementations in the pharmaceutical and biotechnology industry, like enabling patients, doctors, insurers, and pharmaceutical firms to access health records.
North America is expected to expand as the largest market in the market due to growing consumer awareness, large investments in advancement by federal agencies, and modern healthcare facilities.
The global blockchain in genomics market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global blockchain in genomics market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
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Key Participants in this industry include:
GenoBank.io Inc, Nebula Genomics, Inc., SimplyVital Health, Inc., Zenome.io Ltd., LunaDNA, LLC, Encrypgen Incorporated, Digital DNAtix Ltd, Longenesis Ltd, WuXi Nextcode Genomics, and Shivom Ventures Limited, among others.
Key regions covered in the report:
Middle East & Africa
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With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Emergen Research study is for everybody needing commercial analyses for the blockchain in genomics Market, 2020 to 2027, market-leading companies. You will find data, trends and predictions.
The report considers the following timeline for market estimations:
Historical Years: 2016 – 2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020 – 2027
Key Benefits for Stakeholders:
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A comprehensive analysis of the geographical landscape provides detailed information about various regions across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report offers a competitive landscape of the minimally invasive surgical systems market to assist players to gain insights into the competition scenario. Key companies operating in the market are profiled to provide valuable insights.
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