Global Whole Exome Sequencing Market 2023-2030

Dublin, Sept. 26, 2023 (GLOBE NEWSWIRE) — Whole Exome Sequencing Market Size, Share and Trend Analysis Report by Product (Instruments, Consumables, Services), Technology, Workflow, Applications, End Use, Regions and Segments Forecast to 2023 Report -2030 added at ResearchAndMarkets.com offer.

The global total exome sequencing market is on a significant growth trajectory and is expected to reach a significant value of US$ 1.27 billion by 2030, representing a significant Compound Growth Rate (CAGR) of 17.48% during the forecast period. This robust expansion is primarily fueled by advances in whole-exome sequencing technology, making it an important tool in clinical diagnostics and research. The technology’s high throughput allows for a deeper understanding of exome sequencing disorders, facilitating more precise treatments. In addition, the increasing prevalence of genetic conditions has leveraged the deployment of whole exome sequencing, providing valuable information about genetic variants.

Technological advancements are driving the growth of the market

A pivotal driver for the growth of this market is the availability of data analysis and interpretation software. These tools simplify the study of genetic data and provide new insights into the root causes of genetic abnormalities and diseases. An illustrative example is the partnership between Illumina’s subsidiary Grail and the US Department of Veterans Affairs, which adopted Galler’s early detection test for multiple cancers in May 2022. This test uses whole-exome sequencing to detect a variety of cancers at their earliest stages, exemplifying the transformative potential of whole-exome sequencing and advanced data analysis tools in large-scale genomic research and precision medicine.

Impact of the COVID-19 pandemic

The entire exome sequencing market was significantly impacted by the COVID-19 pandemic. In particular, a study by the COVID-19 Genomics UK consortium shows an example of how whole-exome sequencing has been used to understand the virus and its spread. The challenges of the pandemic also highlighted the promise of exome sequencing in the fight against infectious diseases, prompting increased investment in this field of study. Despite the hurdles ahead in 2020, the entire market is expected to flourish in the coming years.

Key market highlights:

• Consumer goods dominate: In 2022, the consumables segment accounted for a significant market share of 62.91%, driven by increased demand for genetic testing and research, which necessitates larger supplies such as kits, reagents, and laboratory supplies.
• Sequencing by synthesis: In 2022, the sequencing by synthesis technology segment dominated the market with a share of 73.50% due to its higher accuracy and throughput, making it the preferred choice in various applications.
• Sequence workflow: Sequencing segment, which accounted for 49.94% in 2022, was a critical step involving raw data generation, thus increasing the demand for sequencing workflow in research and clinical applications.
• Drug discovery and development: Drug discovery and development applications took the lead with a dominant market share of 48.18% in 2022. The ability of whole-exome sequencing to provide valuable information on the genetic basis of disease and drug response will facilitate the development of personalized and targeted therapies.
• Academic and research institutes: In 2022, the academic and research institutes segment accounted for the largest market share of 47.32%, driven by significant investments in genomic research and growing demand for this technology in academia and research.
• North-America: North America secured a strong regional position, achieving a share of 50.52% in 2022. This can be attributed to the region’s highly developed healthcare infrastructure and favorable government policies.

Market dynamics:

Market leaders:

1. Increasing prevalence of genetic diseases
2. Technological advances in sequencing platforms and data analysis tools
3. Reduction in sequencing costs

Market restriction:

• Complexity and cost associated with data storage, interpretation and analysis

Main market participants:

Prominent companies operating in the global whole exome sequencing market include Thermo Fisher Scientific, Inc., Illumina, Inc., Agilent Technologies, Inc., BGI, PacBio, Oxford Nanopore Technologies plc., Azenta US Inc. (GENEWIZ), CD Genomics, Novogene Co, Ltd and Eurofins Genomics.

Conclusion:

The entire global exome sequencing market is poised for significant expansion owing to technological advancements, increasing prevalence of genetic diseases, and robust applications across sectors. Despite the challenges posed by the COVID-19 pandemic, the market is expected to thrive, with North America leading the way.

Main attributes:

Mentioned companies

• Thermo Fisher Scientific, Inc.
• Illumina, Inc.
• Agilent Technologies, Inc
• BGI
• PacBio
• Oxford Nanopore Technologies plc.
• Azenta US Inc. (Genewiz)
• Genomics of CD
• Novogene Co., Ltd
• Eurofins Genomics

Read more about this report at https://www.researchandmarkets.com/r/7i2ya9

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• Global Whole Exome Sequencing Market