Global Whole Exome Sequencing Market 2023-2030: High-Throughput Whole Exome Sequencing Platforms Enable In-Depth Genetic Analysis, Propelling Market Growth

Dublin, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The "Whole Exome Sequencing Market Size, Share & Trends Analysis Report By Product (Instruments, Consumables, Services), By Technology, By Workflow, By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global whole exome sequencing market is on a significant growth trajectory and is expected to reach a substantial value of USD 1.27 billion by 2030, marking a remarkable compound annual growth rate (CAGR) of 17.48% over the forecast period. This robust expansion is primarily fueled by advancements in whole exome sequencing technology, making it a vital tool in clinical diagnostics and research. The technology's high throughput capabilities enable a deeper understanding of exome sequence disorders, facilitating more precise treatments. Furthermore, the rising prevalence of genetic conditions has amplified the adoption of whole exome sequencing, providing valuable insights into genetic variants.

Technological Advancements Drive Market Growth

A pivotal driver of this market growth is the availability of data analysis and interpretation software. These tools simplify the examination of genetic data and offer fresh insights into the underlying causes of genetic abnormalities and diseases. An illustrative example is the partnership between Illumina's subsidiary, Grail, and the U.S. Department of Veterans Affairs, which introduced the Galleri multi-cancer early detection test in May 2022. This test leverages whole exome sequences to detect various cancers in their early 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 COVID-19 pandemic significantly affected the whole exome sequencing market. Notably, the COVID-19 Genomics UK Consortium study exemplifies how whole exome sequencing has been employed to understand the virus and its dissemination. The pandemic's challenges also underscored the promise of exome sequencing in combating infectious diseases, prompting increased investments in this field of study. Despite the hurdles faced in 2020, the entire market is anticipated to flourish in the coming years.

Key Market Highlights:

• Consumables Dominate: In 2022, the consumables segment held a substantial market share of 62.91%, driven by increased demand for genetic testing and research, necessitating higher volumes of consumables such as kits, reagents, and lab supplies.
• Sequencing by Synthesis: The sequencing by synthesis technology segment dominated the market in 2022, accounting for a share of 73.50%, owing to its higher accuracy and throughput capabilities, making it a preferred choice across various applications.
• Sequencing Workflow: The sequencing segment, accounting for 49.94% in 2022, held sway as a critical step involving the generation of raw data, consequently fueling demand for sequencing workflow in research and clinical applications.
• Drug Discovery & Development: With a dominant market presence of 48.18% in 2022, drug discovery & development applications took the lead. Whole exome sequencing's ability to provide valuable insights into the genetic basis of disease and drug response facilitates the development of personalized and targeted therapies.
• Academic & Research Institutes: In 2022, the academic & research institutes segment commanded the largest market share at 47.32%, attributed to substantial investments in genomic research and growing demand for the technology in academia and research.
• North America: North America secured a strong regional position, capturing a 50.52% share in 2022. This can be attributed to the region's highly developed healthcare infrastructure and favorable government policies.

Market Dynamics:

Market Drivers:

1. Growing Prevalence of Genetic Diseases
2. Technological Advancements in Sequencing Platforms and Data Analysis Tools
3. Decreasing Costs of Sequencing

Market Restraint:

• High Complexity and Costs Associated with Data Storage, Interpretation & Analysis

Key Market Players:

The 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 global whole exome sequencing market is poised for significant expansion driven by technological advancements, increasing genetic disease prevalence, and robust applications across various sectors. Despite challenges posed by the COVID-19 pandemic, the market is expected to thrive, with North America leading the charge.

Key Attributes:

Companies Mentioned

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

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• Global Whole Exome Sequencing Market