Whole Exome Sequencing Market Growth Driven by Increasing Number of Strategic Alliances Among Research Institutes and Pharmaceutical Companies, according to Emergen Research
Emergen Research has published its latest report titled “Whole Exome Sequencing Market, By Product & Service Type (Products, Services), By Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Others), By Application (Diagnostics, Cancer, Diabetes, Monogenic Disorders, Drug Discovery and Development, Personalized Medicine, Agriculture and Animal Research, Others), By End-use (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Research Centers and Academic Institutions, Others), and By Region, Forecast to 2028”
The global whole exome sequencing market revenue growth has gained momentum over the recent past due to many favorable factors. Key factors such as rapid adoption of leading-edge technologies in the life sciences industry, growing awareness of the advantages of whole exome sequencing technology over the whole genome sequencing technology, significant advancements in genomic research, and increasing research & development activities in the pharmaceutical and biotechnology industries have led to exponential market revenue growth.
Whole exome sequencing, abbreviated as WES, is a widely used next-generation sequencing (NGS) technique that involves sequencing of the protein-coding regions of the genome, as well as screening and identifying mutations and variations in these regions. Whole exome sequencing aids in diagnosis of chronic and rare diseases and is widely being used by researchers for the study of exome and genome sequences. Furthermore, increasing government investments in healthcare R&D activities and growing need for development of advanced disease diagnostic methods are other key factors expected to drive market revenue growth over the upcoming years.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Services Segment Accounted for Largest Revenue Share in 2020:
The services segment accounted for the largest revenue share in the global market in 2020. Services is further segmented into sequencing and data analysis services. Increase in demand for high-throughput sequencing and data analysis services due to their advantages such as advanced bioinformatics visualization and low-cost sequencing and data management is a key factor driving this segment’s growth. Sequence analysis services usually include experimental design, library generation from samples, and downstream analysis of DNA sequences.
Research Centers & Academic Institutions Segment to Account for Fastest Revenue CAGR:
Based on end-use, the global whole exome sequencing market is segmented into hospitals & clinics, pharmaceutical & biotechnology companies, research centers & academic institutions, and others. The research centers & academic institutions segment is projected to register the fastest revenue growth rate over the forecast period. Factors contributing to this segment’s growth are growing demand for advanced therapeutics and personalized medicine, increasing investments by government bodies in genomic research programs, growing use of whole exome sequencing in clinical genetic laboratories, and increasing use of the technology in diagnosis and treatment of cancer and other chronic illnesses.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America whole exome sequencing market accounted for the largest revenue share in the global market in 2020. Growing prevalence of chronic and genetic disorders, rising demand for personalized medicine, increasing adoption of whole exome sequencing technology for development of develop advanced diagnostics, and increasing genomic R&D activities are major factors bolstering the North America market revenue growth. Revenue growth is further driven by factors such as increased government funding for cancer research and presence of leading market players in the region, including Illumina, Inc., Agilent Technologies, and Life Technologies.
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Major Companies in the Global Whole Exome Sequencing Market Include:
- Illumina, Inc.
- Life Technologies
- Roche NimbleGen, Inc.
- Agilent Technologies
- BGI (Beijing Genomics Institute)
- Eurofins Genomics, Inc.
- GENEWIZ, Inc.
- Knome, Inc.
- Macrogen, Inc.
- Ambry Genetics
For the purpose of this report, Emergen Research has segmented the global whole exome sequencing market based on product & service type, technology, application, end-use, and region:
Product & Service Type Outlook (Revenue, USD Billion; 2018-2028)
- DNA Fragmentation End Repair, A-Tailing and Size Selection
- Library Preparation Kits
- Target Enrichment Kits
- Sequencing Services
- Data Analysis Services
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Sequencing by Synthesis
- Ion Semiconductor Sequencing
Application Outlook (Revenue, USD Billion; 2018-2028)
- Monogenic Disorders
- Drug Discovery and Development
- Personalized Medicine
- Agriculture and Animal Research
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals & Clinics
- Pharmaceutical and Biotechnology Companies
- Research Centers & Academic Institutes
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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