USD 360.02 million
Global Whole Exome Sequencing Market Size, Share, Growth Analysis, By Technology(Targeted Sequencing, Whole Exome Sequencing and Others), By Application(Oncology, Rare Diseases), By End-user(Research Centers and Academic Institutions, Hospitals and Clinics) - Industry Forecast 2024-2031
Report ID:
SQMIG35H2119 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
92 |
Figures:
76
Global Whole Exome Sequencing Market Insights
Whole Exome Sequencing Market size was valued at USD 360.02 million in 2021 and is poised to grow from USD 422.95 million in 2022 to USD 1534.62 million by 2030, growing at a CAGR of 17.48% during the forecast period (2023-2030).
The market has witnessed significant growth potential due to various factors, including the development of new technologies, increased applications in research and diagnostics, and a reduction in costs associated with these technologies. The demand for precise and early detection methods for genetic and chronic diseases has also contributed to the expansion of the market. Consequently, the utilization of advanced sequencing technologies has greatly propelled market growth, as medical professionals and researchers employ whole exome sequencing to identify genetic variations related to different diseases and develop personalized treatments based on patients' genomic data. A study published in the Journal of Cancer in 2020 exemplifies how exome sequencing has been employed to identify mutations in patients with advanced cancer, predicting their response to immunotherapy and demonstrating its potential to revolutionize personalized medicine. The global demand for whole exome sequencing products is rapidly increasing due to several key factors, primarily driven by the decreasing cost associated with advancements in automation, data analysis tools, and various technologies. These advancements have made whole exome sequencing more accessible and affordable for healthcare facilities and researchers to study genetic information. For example, a partnership between a Chinese healthcare provider and BGI Genomics was established in 2022 to offer whole exome sequencing services for cancer patients, aiming to gain a better understanding of cancer genetics and provide personalized treatment options. Such collaborations highlight the growing popularity of whole exome sequencing in clinical settings due to its affordability and accessibility. The utilization of this technology by medical professionals for diagnosing and treating a range of diseases is increasing, indicating a promising future for genetic medicine and whole exome sequencing. Additionally, the market has experienced significant growth due to the demand for personalized care. Medical professionals can now utilize whole exome sequencing to customize treatment recommendations based on a patient's unique genetic alterations and susceptibility to diseases. This allows healthcare providers to offer specialized and more effective treatments by thoroughly examining a patient's DNA. For example, Natera's Signatera, a test based on whole exome sequencing, has been designated as a breakthrough device by the FDA. This test assists in monitoring tumor recurrence, allowing patients who have undergone treatment for solid tumors to track the presence of any residual disease. By analyzing circulating tumor DNA, Signatera identifies genetic changes associated with cancer and tracks the patient's response to therapy. The FDA's recognition of Signatera as a breakthrough device emphasizes the potential of exome sequencing-based diagnostics in cancer identification and treatment. The whole exome sequencing industry is growing due to the increasing demand for personalized treatment. Further market growth is anticipated with the introduction of new diagnostics and assays. Through whole exome sequencing, medical professionals can now identify a patient's specific genetic anomalies and disease risk factors, enabling them to design treatment plans tailored to each individual's needs. This advancement in individualized medicine holds the potential to revolutionize healthcare practices.
US Whole Exome Sequencing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Consumables
Fastest Growth
Consumables
Growth Rate
17.48% CAGR
Global Whole Exome Sequencing Market ($ Bn)
Country Share for North America Region (%)
Global Whole Exome Sequencing Market Size By Product ($ Bn)
Global Whole Exome Sequencing Market Size By Product (%)
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Global Whole Exome Sequencing Market Segmental Analysis
The Global Whole Exome Sequencing Market is segmented by technology, application, end-User, and region. Based on technology, the market can be segmented into targeted sequencing, whole exome sequencing and others. Based on application, the market is segmented into oncology, rare diseases, cardiovascular diseases, neurological disorders, and other applications. Based on end-user, the market is segmented into research centers and academic institutions, hospitals and clinics, pharmaceutical and biotechnology companies, and contract research organizations (CROs). Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Whole Exome Sequencing Market Analysis by Technology
By Technology, the market can be segmented into targeted sequencing, whole exome sequencing and others. Whole Exome Sequencing is the dominating segment in the global market. It involves sequencing the protein-coding regions of the entire exome, offering a comprehensive analysis of genetic variations. Whole Exome Sequencing provides a broad view of the exome, including both coding and non-coding regions. This enables researchers and clinicians to identify disease-causing mutations, variants, and potential therapeutic targets.
Targeted Sequencing is the fastest-growing segment in the global market. It involves selectively sequencing specific regions of the exome, focusing on genes or genomic regions of interest. Targeted Sequencing offers a cost-effective alternative to Whole Exome Sequencing by specifically targeting relevant genomic regions. This reduces the sequencing and analysis costs, making it more accessible for research and clinical applications.
Whole Exome Sequencing Market Analysis by Application
By application, the market is segmented into oncology, rare diseases, cardiovascular diseases, neurological disorders, and other applications. Oncology is the dominating segment in the global market. Whole Exome Sequencing plays a crucial role in oncology research, diagnostics, and treatment. WES enables the identification of somatic mutations and genetic alterations in tumors, helping to guide personalized treatment approaches. It allows oncologists to understand the underlying genomic characteristics of individual tumors, leading to targeted therapies and improved patient outcomes.
Rare Diseases emerge as the fastest-growing segment in the whole exome sequencing market. WES has revolutionized the diagnosis and understanding of rare genetic disorders. Rare diseases often lack specific diagnostic tests, and their genetic underpinnings remain unknown. WES addresses this unmet medical need by providing a comprehensive analysis of the exome, facilitating the discovery of novel disease-causing genes and variants.
Global Whole Exome Sequencing Market Size By Product (%), 2023 (%)
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Global Whole Exome Sequencing Market Regional Insights
The dominating region in the whole exome sequencing market is North America. This region has been at the forefront of technological advancements and has a well-established healthcare infrastructure, which has contributed to its dominance. In North America, the United States in particular has witnessed significant adoption of whole exome sequencing technology in both research and clinical settings. The presence of major key players, academic institutions, and research organizations focused on genomics research has further fueled the market growth in this region. Additionally, favorable government initiatives and funding for genomic research and precision medicine have played a crucial role in the dominance of North America in the whole exome sequencing market.
The fastest growing region in the whole exome sequencing market is Asia Pacific. The Asia Pacific region has witnessed rapid economic growth and an increasing focus on healthcare advancements. Countries such as China, Japan, and India have made significant investments in genomics research and precision medicine initiatives, leading to the growing adoption of whole exome sequencing technology. The region also benefits from a large population base, increasing awareness about personalized medicine, and rising healthcare expenditure. Furthermore, the availability of cost-effective sequencing technologies and the presence of key market players expanding their presence in the region have contributed to the accelerated growth of the whole exome sequencing market in Asia Pacific.
Global Whole Exome Sequencing Market Size By Geography, 2024-2031
- Largest
- Fastest
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Global Whole Exome Sequencing Market Dynamics
Whole Exome Sequencing Market Drivers
Increasing demand for personalized medicine
- One major driver propelling the growth of the whole exome sequencing market is the increasing demand for personalized medicine. The ability to study an individual's whole exome allows medical professionals to customize treatment plans based on the patient's unique genetic makeup and disease susceptibility. This personalized approach to healthcare offers the potential for more effective and targeted therapies, leading to improved patient outcomes. With advancements in sequencing technologies and data analysis tools, whole exome sequencing has become more accessible and affordable, further driving its adoption in clinical settings. The growing recognition of the value of personalized care is fueling the demand for whole exome sequencing and shaping the future of healthcare.
Whole Exome Sequencing Market Restraints
Complexity and interpretation challenges
- One significant restraint facing the whole exome sequencing market is the complexity and interpretation challenges associated with large amounts of genomic data generated. Analyzing and interpreting this vast amount of genetic information can be time-consuming and requires specialized expertise. Additionally, ensuring the accuracy and reliability of the results is crucial for making informed medical decisions. The need for robust bioinformatics tools and skilled professionals to handle and interpret the data poses a constraint on the widespread adoption of whole exome sequencing, limiting its accessibility and practicality in certain healthcare settings.
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Global Whole Exome Sequencing Market Competitive Landscape
The global whole exome sequencing market is characterized by the presence of various companies offering sequencing platforms, reagents, and analysis software. These companies strive to differentiate themselves by providing innovative and cost-effective solutions to meet the growing demand for whole exome sequencing. Market players focus on research and development activities to enhance their product portfolios and expand their customer base. Additionally, partnerships, collaborations, and acquisitions are common strategies employed by companies to strengthen their market position and gain a competitive edge. The competitive landscape is dynamic, with new entrants continuously emerging and established players seeking to maintain their market share.
Whole Exome Sequencing Market Top Player’s Company Profiles
- Agilent Technologies (US)
- Qiagen N.V. (Netherlands)
- PerkinElmer (US)
- Eurofins Scientific (Luxembourg)
- Macrogen (South Korea)
- Oxford Nanopore Technologies (UK)
- Pacific Biosciences (US)
- F. Hoffmann-La Roche AG (Switzerland)
- GATC Biotech AG (Germany)
- Genomatix GmbH (Germany)
- ArcherDX, Inc. (US)
- Foundation Medicine, Inc. (US)
- Myriad Genetics, Inc. (US)
- GeneDx (US)
- Novogene Corporation (China)
- Ambry Genetics (US)
- Illumina Cambridge Ltd. (UK)
Whole Exome Sequencing Market Recent Developments
- In July 2023, Roche and 23andMe announced a collaboration to develop a new DNA sequencing-based test to identify genetic variants associated with increased risk of hereditary cancers.
- In May 2023, Thermo Fisher Scientific acquired Element Genomics, a company focused on leveraging CRISPR technology for functional genomics research, to strengthen its genomics portfolio.
- In March 2023, Illumina and QIAGEN entered into a partnership to co-develop next-generation sequencing-based in vitro diagnostic (IVD) kits for oncology applications, aiming to enhance cancer diagnostics.
- In January 2023, Agilent Technologies announced the launch of the Agilent Bravo 2.0 Automated Liquid Handling Platform, designed to streamline and automate genomic workflows in research laboratories.
- In September 2022, Genentech announced a collaboration with Adaptive Biotechnologies to develop personalized neoantigen-based vaccines for the treatment of solid tumors.
Global Whole Exome Sequencing Key Market Trends
- Integration of artificial intelligence (AI) and machine learning (ML) algorithms: One key market trend in the whole exome sequencing market is the integration of artificial intelligence (AI) and machine learning (ML) algorithms in data analysis and interpretation. AI and ML technologies are being leveraged to handle the large volumes of genomic data generated by whole exome sequencing and to identify meaningful patterns, genetic variations, and disease associations. These advanced analytical tools can assist in automating data processing, improving accuracy, and enhancing the efficiency of genomic analysis. By enabling faster and more accurate identification of genetic variants, AI and ML have the potential to revolutionize the field of whole exome sequencing, facilitating more precise diagnoses, personalized treatments, and advancements in genomic medicine.
Global Whole Exome Sequencing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global Whole Exome Sequencing market analysis, the global market is poised for a promising future with significant growth opportunities. The increasing demand for personalized medicine and the ability to study individual genetic variations drive the market's expansion. North America dominates the market, particularly the United States, due to advanced technology, established healthcare infrastructure, and government initiatives supporting genomics research. Asia Pacific emerges as the fastest-growing region, fueled by economic growth, rising healthcare expenditure, and investments in precision medicine initiatives. China, in particular, exhibits substantial market potential with its large population and increasing focus on genomic research. As the market progresses, advancements in data analysis tools, automation, and integration of AI and ML technologies will further revolutionize the field of whole exome sequencing, paving the way for personalized healthcare and transformative discoveries in genetic medicine.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 360.02 million |
| Market size value in 2031 | USD 1534.62 million |
| Growth Rate | 17.48% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Whole Exome Sequencing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Whole Exome Sequencing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Whole Exome Sequencing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Whole Exome Sequencing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Whole Exome Sequencing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Whole Exome Sequencing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Whole Exome Sequencing Market Report Snapshots
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