Whole Exome Sequencing Market Trend | Rising Number of R&D Activities in Biopharmaceutical Sector and Increasing Adoption of Whole Exome Sequencing to Identify Genetic Variations
The global whole exome sequencing market is expected to grow at a CAGR of over 20% during the forecast period, according to latest analysis by Emergen Research. One of the major factors driving the growth of this market is the increasing demand for personalized medicine. Personalized medicine is a type of medicine that is tailored to the individual patient’s genetic makeup. Whole exome sequencing is being increasingly used in personalized medicine as it can provide insights into the patient’s genetic makeup and help guide treatment decisions.
Another factor driving the growth of this market is the increasing prevalence of genetic disorders. Genetic disorders are caused by changes in the DNA sequence and can be passed down from generation to generation. Whole exome sequencing can help identify these changes and guide treatment decisions.
The increasing availability of whole exome sequencing data is also driving the growth of this market. In recent years, there has been a surge in the number of whole exome sequencing studies being conducted. This has led to the accumulation of large amounts of data, which is being used to drive research and development in this field. However, the high cost of whole exome sequencing is a major challenge for the growth of this market. Whole exome sequencing can cost upwards of $5,000 per person, which is unaffordable for many people. This high cost is preventing the widespread adoption of this technology.
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Whole Exome Sequencing (WES) is a comprehensive sequencing approach to detect all protein-coding variants in the genome. WES is used to identify genetic variants that may be associated with disease. It can also be used for population studies, cancer research, and pharmaceutical drug development.
Some Key Highlights from the Report
- The major players in the global whole exome sequencing market include Illumina, Inc. (U.S.) Life Technologies (acquired by Thermo Fisher Scientific, Inc.) (U.S.), Roche NimbleGen, Inc. (U.S.), Agilent Technologies (U.S.), BGI (Beijing Genomics Institute, China), Eurofins Genomics, Inc. (Germany), Sengenics (U.S.), GENEWIZ, Inc. (U.S.), Knome, Inc. (U.S.), Macrogen, Inc. (South Korea), and Ambry Genetics (U.S.), among others.
- In June 2021, CENTOGENE introduced new CentoXome whole exome sequencing platform to provide crucial clinical insights to researchers and clinicians based on CENTOGENE’s rare disease-centric database to accelerate diagnosis and treatment selection.
- The rapidly declining cost of DNA sequencing is one of the major drivers for the growth of the global whole exome sequencing market. In the last few years, the cost of sequencing a human genome has fallen dramatically and this trend is expected to continue in the coming years. This decline in the cost of sequencing is making whole exome sequencing more affordable and this is expected to fuel the growth of the market.
- Diagnostics segment accounted for the largest market share in 2020 due to the increasing demand for preventative healthcare, the need for early detection of diseases, and government initiatives to promote personalized medicine. However, the services segment is expected to grow at the highest CAGR during the forecast period owing to the increasing number of CROs and core laboratories offering WES services.
- Research Center segment accounted for the largest market share in 2020 due to the availability of funds and resources, and the large number of research projects underway in this region. Also, the implementation of National Cancer Moonshot Initiative by President Barack Obama in 2016 is projected to contribute to the growth of this market segment during the forecast period.
- The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The growing number of research initiatives and projects in genomics and proteomics, the increasing prevalence of genetic disorders, and the rapidly expanding biotechnology and pharmaceutical industries are some of the key factors driving market growth in this region.
- North America is expected to be the second-largest market for whole exome sequencing during the forecast period. The growing demand for personalized medicine and the increasing prevalence of genetic disorders are the key factors driving market growth in this region.
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For the purpose of this report, Emergen Research has segmented the global whole exome sequencing market on the basis of product, application, technology, end-use, and region:
Product Outlook (Revenue, USD Million; 2018-2028)
- Products
- Kits
- DNA Fragmentation End Repair, A-Tailing and Size Selection
- Library Preparation Kits
- Target Enrichment Kits
- Services
- Sequencing Services
- Data Analysis Services
Application Outlook (Revenue, USD Million; 2018-2028)
- Diagnostics
- Cancer
- Monogenic Disorders
- Diabetes
- Others
- Drug Discovery and Development
- Personalized Medicine
- Agriculture and Animal Research
- Others
Technology Outlook (Revenue, USD Million; 2018-2028)
- Sequencing by Synthesis
- Ion Semiconductor Sequencing
- Others
End-Use Outlook (Revenue, USD Million; 2018-2028)
- Academic Institutions & Research Centers
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Others
Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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