The Global Whole Exome Sequencing Market Size is valued at 1361.18 million in 2022 and is predicted to reach 7308.82 million by the year 2031 at a 20.7% CAGR during the forecast period for 2023-2031.
The entire exome sequencing has a wide range of clinical applications since it can distinguish between disease-causing mutations or disease variants while identifying exon regions' alterations. The market is expanding due to the increasing use of whole exome sequencing in clinical diagnostics to determine the underlying genetic causes of various disorders. In the upcoming years, the whole exome sequencing industry will rise due to the rising prevalence of chronic diseases and the growing emphasis on finding a cure for untreated medical conditions.
Additionally, the business worked with genomics firm Helix to use their clinical Exome+ sequence analysis tool for the study. Such initiatives give producers of whole exome analysis products and services additional ways to generate income. A cost-effective substitute to conventional sequencing techniques, whole exome sequence analysis also allows for thorough coverage of all genomic areas of medicinal relevance. As opposed to other next-generation sequencing methods, the methodology also has the advantage of quickly identifying rare and low-frequency mutations. Because of this, several end users are implementing whole exome analysis techniques to enhance the sequencing industry. Furthermore, the market for whole exome sequencing is expanding as the infrastructure for providing healthcare continues to advance.
The development of technology for remote surveillance for cancer testing, in order personalized medicine, and other purposes; growing government initiatives aimed at raising awareness of cancer detection and therapy among cancer, Alzheimer's disease, and Miller Syndrome patients; and the heavy emphasis major market players place on providing affordable products.
Recent Developments:
- In February 2023: According to Illumina Inc., the Broad Institute has just received the company's first NovaSeqX Plus machine. The platform will assist parties wishing to access the company's human whole genome product, blended genome/exome product, and sequencing service.
- In May 2022: Thermo Fisher Scientific and The Qatar Genome Programme (QGP), a Qatar Foundation (QF) division, partnered to advance genomic research and clinical applications of predictive genomics in Qatar as a step towards expanding the advantages of precision medicine to Arab populations.
Competitive Landscape:
Some of the Whole Exome Sequencing market players are:
- Agilent Technologies, Inc
- Ambry Genetics
- Azenta US Inc. (GENEWIZ)
- BGI
- CD Genomics
- Eurofins Genomics.
- Hoffmann-La Roche Ltd (Switzerland)
- GENEWIZ (US)
- Illumina Inc. (US)
- Integragen SA (France)
- Knome, Inc. (U.S.)
- Macrogen Inc. (South Korea)
- Novogene Co, Ltd
- Psomagen
- Thermo Fisher Scientific, Inc
Market Segmentation:
The Whole Exome Sequencing market is segmented based on product, technology, workflow, application and end users. The market is segmented as Instruments, Consumables and Services based on product. By technology, the market is segmented into sequencing by synthesis, ion semiconductor sequencing and others. By workflow, the market is segmented into pre-sequencing, sequencing and data analysis. By application, the market is segmented as clinical diagnostics, drug discovery & development, personalized medicine and others. By end users, the market is segmented as academic & research institutes, hospitals & clinics, pharmaceutical & biotechnology companies and others.
Based On End Users, The Hospitals & Clinics Segment Is A Major Contributor In The Whole Exome Sequencing Market
The hospitals & clinics category will hold a major share of the Whole Exome Sequencing market in 2022. The sales revenues generated by various cutting-edge medical institutions primarily fuel medical innovation. The market for medical services is anticipated to expand as awareness and affordability rise, as is already the case in numerous developed nations where healthcare services have a significant positive impact on GDP development.
The Personalized Medicine Segment Witnessed Growth At A Rapid Rate
The personalized medicine segment is projected to grow rapidly in the whole exome sequencing market. Depending on the molecular cause of the condition, personalized medicine seeks to offer each patient a treatment plan that is uniquely designed for them. The previous few years have seen a rise in its popularity. In contrast to traditional medicine, precision medicine is a new field of study called "individualized medicine," which bases healthcare decisions on each patient's genetic profile.
Medical experts may create safer and more efficient treatment plans and medications for various health disorders thanks to advancements in genetics and a deeper understanding of how human genetic composition and health influences development, reaction to treatments, and health. In various ways, precision is advantageous to health and healthcare. The rising incidence of various cancer types, the accessibility of tailored medicine therapy in cancer medications, and a number of other causes are causing this personalized medicine.
The North America Whole Exome Sequencing Market Holds A Significant Revenue Share
The North America Whole Exome Sequencing market position is expected to register the highest market share in revenue shortly. Due to the high frequency of genetic abnormalities, the existence of major market players, and the availability of financing in the public and private sectors. Additionally, advanced research facilities, rising funding for cancer- and genomics-related studies, and widespread use of exome sequencing to detect uncommon illnesses are anticipated to propel market expansion in North America throughout the projected period. In addition, the Asia Pacific region is projected to increase at a prompt rate in the global whole exome sequencing market due to growing concerns about the environment, rapid industrialization, government initiatives, and increasing funding in various industries.
Whole Exome Sequencing Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 1361.18 Mn |
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Revenue forecast in 2031 |
USD 7308.82 Mn |
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Growth rate CAGR |
CAGR of 20.7 % from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Type, Type of Project, And Application |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Thermo Fisher Scientific, Inc.; Illumina, Inc.; Agilent Technologies, Inc.; BGI; Psomagen; Hoffmann-La Roche Ltd; Azenta US Inc. (GENEWIZ); CD Genomics; Novogene Co, Ltd; Eurofins Genomics |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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