It is estimated that, by 2025, around 15% of the world’s population will have had their genomes sequenced, resulting in the generation of several zettabytes of data. However, currently, there are not many reliable and secure data management resources that offer secure storage, seamless exchange of information, and a reliable transaction platform, for large volumes of genomic and clinical data. The market landscape of blockchain in healthcare has emerged as a viable option to store / exchange genomic data. The decentralized information management model used in blockchains has demonstrated significant benefits in banking and the fintech industry. Moreover, cryptocurrencies, which are based on the blockchain technology, are considered to be a powerful tool for peer-to-peer transactions without involving a third party to track the exchange.
Blockchain has emerged as a viable solution for efficient storage and management of genomic data; this is evident from the various initiatives undertaken by players in this domain.
The market landscape features several new entrants offering blockchain-based genomic data related services
The rising interest in this field is also apparent in opinions expressed by industry stakeholders on prominent social media platforms, such as Twitter.
In developing effective go-to-market strategies, companies are focusing on highlighting the key features of their blockchain products across a range of marketing / distribution platforms.
Several pharmaceutical players and government bodies are already leveraging blockchain-based platforms to manage genomic data and related insights
Such insights have demonstrated the potential to address a variety of current and future needs of different entities involved in this domain.
Ongoing promotions and development activity indicate that the blockchain in genomic data management marketwill experience commendable growth as blockchain platforms will likely witness wide adoption across various healthcare practices
Arun is an enthusiastic professional and has been associated with Roots Analysis since the very early years. He has led multifaceted roles over the years be it business research, consulting, competitive intelligence, IT & technology, sales and marketing. He currently drives strategic thinking and execution within the sales and marketing domain. With educational background in life sciences from Thapar University and digital marketing credentials from Indian School of Business, he has led a lot of critical initiatives at the organization. His background in life sciences has been one of the key reasons for quick understanding and implementation of customized marketing strategies. During his early years, he has led multiple consulting assignments for global clients ranging from competitive landscaping, deal structuring and preparing go-to-market strategy for his clients.