Blockchain in Genomic Data Management: Market Landscape and Competitive Insights, 2018-2030
The market for blockchain platforms for genomic data management is likely to grow at a CAGR of ~43.5%, predicts roots analysis
By: Roots Anlaysis
Nancy Kapila, the principal analyst, stated, "The blockchain technology is considered to be a viable solution for managing the vast volumes of genomic data that is anticipated to be generated as more individuals opt to undergo genome sequencing in the near future. With several proven benefits, such as data security and provisions for the seamless exchange of information, the growing importance of the blockchain is also evident in recent tweets (~1,750) posted on the social media platform, Twitter."
The report presents opinions on several key aspects of the market. Among other elements, it includes:
1. An overview of the current status of the market with respect to companies providing blockchain platforms. It is worth noting that, of the total number of players involved, more than 35% are based in North America, primarily in the US. Examples of players based in this region include (in alphabetical order, no specific selection criteria) EncrypGen, GnoMine, LunaDNA and Nebula Genomics.
2. Tabulated profiles of all the players engaged in this field, featuring a brief overview of the company, and details on funding (if available), type of service(s) offered, proprietary blockchain platforms and utility tokens, key historical milestones, information on partnership(
3. An analysis of the prevalent and emerging trends related to this domain as represented on the social media platform, Twitter, highlighting the most frequently talked about utility tokens, active players, and influential authors. It includes an insightful sentiment analysis, summarizing the impact / influence of various tweets posted on the platform. A detailed sentiment analysis highlighted that 85% of the total tweets were positive, suggesting that, at this stage, stakeholders are optimistic regarding the future potential of blockchain platforms for managing genomic data.
4. A comparative analysis of the needs of different stakeholders (pharmaceutical companies, research institutes, patients, healthy individuals, insurers and government agencies) in this industry. Majority of the companies (86%) are involved in offering services primarily to pharmaceutical players and research institutes. In addition, the companies also offer genomic data management through blockchain platforms to other key stakeholders such as data owners, software developers and insurers.
5. A detailed analysis highlighting the various business models and go-to-market strategies adopted by companies involved in this space. The most popular marketing strategies that are being implemented include the use of social media platforms to spread awareness related to blockchain platforms, online media and increasing participation in global events, such as conferences, to gain the required visibility in the market.
6. An informative bubble analysis, highlighting the market capitalization of the utility tokens of different companies engaged in this domain, based on total maximum supply, circulating supply and token price. The overall coin market capitalization is currently estimated to be around USD 400 million-USD 750 million.
7. A list of recent use cases of blockchain platforms, by pharmaceutical companies, highlighting the ways in which such tools / services have been used to manage and analyze genomic data.
8. An insightful opportunity analysis, featuring an estimation of the existing market size, in terms of the revenues generated from both data owners and data users, based on multiple parameters.
9. An analysis of various developments / recent trends related to companies offering blockchain platforms for genomic data management, offering insights on [A] instances wherein companies have raised funds to support their respective initiatives, [B] partnership and collaborations established within the industry, [C] other initiatives undertaken by different companies, [D] recent global events (summits, conferences and annual meetings), and [E] views expressed / opinions of selected key opinion leaders / industry experts on social media platforms, such as YouTube.
The report features inputs from a number of eminent industry stakeholders. Kapila remarked, "Most of the experts we spoke to mentioned that the decentralized nature of the blockchain provides additional security to the storage and exchange of genomic data." The report features detailed transcripts of discussions held with the following experts:
1. David Koepsell (Chief Executive Officer, EncrypGen)
2. Jake Dreier (Director of Growth and Operations, SimplyVital Health)
3. Aldo de Pape (Chief Executive Officer, Genomes.io) and Louis Gooden (Analyst, Genomes.io)
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Page Updated Last on: Dec 03, 2018