Global Whole Genome and Exome Sequencing Market: Analysis and Forecast, 2019-2029
Global Whole Genome and Exome Sequencing Market to Reach $7,303.0 Million by 2029
Market Report Coverage - Whole Genome and Exome Sequencing
- Product – Kits, Instruments
- Workflow – Sample Extraction/Purification, Library Preparation, Library Quantification, Analysis (Bioinformatics)
- Application – Oncology Sequencing, Microbial Sequencing, NIPT Sequencing, Rare Disease Sequencing, Translational Research Sequencing
- End User – Research Centers, Academia and Government Institutes, Diagnostic Labs, Pharmaceutical and Biotechnology Companies
- North America - U.S., Canada, Mexico
- Europe – Germany, France, Italy, U.K., Spain, Russia, Netherlands
- Asia-Pacific – Japan, China, India, Australia, Singapore
- Latin America – Brazil, Mexico
- Rest-of-the-World – Kingdom of Saudi Arabia (K.S.A.), U.A.E., Palestine, Algeria
- Rising Prevalence of Genetic Disorders
- Increasing Prevalence of Various Types of Cancer, Globally
- Increasing Research Funding in the Field of Genomics
- Expensive Sequencing Procedures and Their Applications in Medical Treatments
- High Capital Requirement Hampering the Expansion of Global Reach
- Stringent Regulatory Standards
- Technological Advancements in Sample Preparation for Whole Genome and Exome Sequencing
- Opportunity (by Product)
- Opportunity (by Application)
- Opportunity (by Region)
Key Companies Profiled
- Agilent Technologies, Inc., Beijing Genomics Institute (BGI), Bio-Rad Laboratories, Inc. , Cancer Genetics, Inc., Eurofins Scientific SE, F. Hoffmann-La Roche Ltd, General Electric Company, GENEWIZ, Inc., Illumina, Inc., Laboratory Corporation of America Holdings, NoVo gene Corporation, Oxford Nanopore Technologies, Inc., Pacific Biosciences of California, Inc., QIAGEN N.V., Thermo Fisher Scientific Inc.
Key Questions Answered:
- What are the long-term and short-term impacts of whole genome and exome sequencing on the human health continuum?
- What are the major market drivers, challenges, and opportunities in the whole genome and exome sequencing?
- What are the key development strategies which are implemented by the major players in order to sustain in the competitive market?
- What are the key regulatory implications in the developed and developing regions for the global whole genome and exome sequencing market?
- How are service-based companies impacting the growth of the global whole genome and exome sequencing industry and further shaping up future trends?
- How each segment of the market is expected to grow during the forecast period from 2019 to 2029?
- Who are the leading players with significant offerings to the global whole genome and exome sequencing market? What is the expected market dominance for each of these leading players?
- Which companies are anticipated to be highly disruptive in the future, and why?
- What are challenges that are yet to be met by the global whole genome and exome sequencing market?
The whole genome and exome sequencing have grown significantly since the technology was first commercialized, but it is important to quantify that growth and describe future trends. The whole genome and exome industry is proliferating and the growth is expected to continue at its torrid pace. However, there are significant challenges that may dampen future growth if not addressed.
Our healthcare experts have found whole genome and exome sequencing to be one of the most rapidly evolving technologies, and the global market for whole genome and exome is predicted to grow at a CAGR of 26.94% over the forecast period of 2019-2029.
The combination of unmet clinical needs for better tools to predict, diagnose, treat, and monitor disease are significant factors driving the growth of sequencing industry. Other factors driving growth include the increased understanding of the molecular basis of disease, patient demand, industry investment, and regulations that allow marketing of tests without FDA approval.
Despite rapid advanced sequencing industry growth, there are several key issues that will need to be addressed to facilitate future growth. The still relatively high total costs of delivering sequencing test results compared with other technology platforms, and limited coverage by payers, are the key challenges to the growth of this industry. Whole genome and exome sequencing remain relatively costly requiring initial equipment investment, specialized workforce requirements, and time-intensive variant interpretation.
Within the research report, the market is segmented on the basis of product, workflow, application, end users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
The exponential rise in the application of next generation sequencing on the global level has created a buzz among companies to invest in the products and services of whole genome and exome sequencing. Due to the diverse product portfolio and intense market penetration, whole genome and exome has been a pioneer in this field and been a significant competitor in this market.
On the basis of region, North America holds the largest share, due to improved healthcare infrastructure, rise in per capita income, and improvized reimbursement policies in the region. Apart from this, Latin America and the Asia-Pacific region are anticipated to grow at the fastest CAGR during the forecast period.
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