RNA sequencing is used in testing for the genome of viruses that cause diseases such as HIV, cancer, and COVID-19. As the prevalence of these diseases rises, so the demand for RNA sequencing also rises. For instance, the World Health Organization (WHO) reported 37.7 million HIV cases worldwide in July 2022. These genomic sequencing methods provide information on genetic variants that can lead to disease, because the prevalence of such diseases is increasing and driving up demand for RNA sequencing.
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Data Bridge Market Research analyses that the Whole Exome Sequencing Market is expected to grow at a CAGR of 19.0% in the forecast period of 2022 to 2029 and is expected to reach USD 933.70 million by 2021 and USD 3,640.59 million by 2029.
Key Findings of the Study
Rising R&D in the field of genomics is expected to drive the market
Rising R&D in the field of genomics, as well as next-generation sequencing, are driving the market. For instance, In May 2022, NanoString Technologies, Inc. launched a cloud-based workflow that improves customers' spatial data analysis experience using Illumina NextSeq 1000 and NextSeq 2000 sequencing systems and the GeoMx Digital Spatial Profiler. This integrated, push-button run planning tool now simplifies the spatial analysis of whole transcriptomes and proteome analytes. As a result, such developments are expected to drive the market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Second-Generation Sequencing and Third-Generation Sequencing), Product and Service (Systems, Kits, and Services), Application (Drug Discovery and Development, Agriculture & Animal Research, Diagnostics, Personalized Medicine, and Others), End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Hospitals and Clinics, Clinical Laboratories, and Others), Distribution Channel (Direct Trade, Retail Sales, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Thermo Fisher Scientific Inc. (U.S.), QIAGEN (Germany), Illumina, Inc. (U.S.), Beckman Coulter, Inc. (U.S.), Eurofins Scientific (Luxembourg), BIONEER CORPORATION (South Korea), ExoDx (U.S.), FOUNDATION MEDICINE, INC. (U.S.), GeneFirst Limited (U.K.), CeGaT GmbH (Germany), Merck KGaA (Germany), SOPHiA GENETICS (Switzerland), Azenta U.S. Inc. (U.S.), CD Genomics (U.S.), PerkinElmer Genomics (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
Global whole exome sequencing market is categorized into three notable segments which are based on component.
- On the basis of component, the global whole exome sequencing market is segmented into whole exome sequencing. Whole exome sequencing further segmented into second generation sequencing and third-generation sequencing.
Second generation sequencing segment is expected to dominate the global whole exome sequencing market
Second generation sequencing segment is expected to dominate the global whole exome sequencing market with the market share of 82.00% in the forecast year of 2022 to 2029. as the second generation sequencing is the major component in whole exome sequencing procedures.
- On the basis of product and service, the global whole exome sequencing market is segmented into systems, kits and services. The systems segment is expected to dominate the global whole exome sequencing market with the market share of 50.03% due to the technological advancements in sequencing systems.
- On the basis of application, the global whole exome sequencing market is segmented into drug discovery and development, agriculture & animal research, diagnostics, personalized medicine and others.
Drug discovery and Development segment is expected to dominate global whole exome sequencing market
Drug discovery and development segment is expected to dominate global whole exome sequencing market with the market share of 38.91% as research and development related to whole exome sequencing for chronic and cancer like diseases and personalized medicine is being conducted mainly by these healthcare institutes and increase in use of WES technology for new scientific applications which is driving the segment growth.
- On the basis of end user, the global whole exome sequencing market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, hospitals, clinical laboratories and others. Pharmaceutical & biotechnology companies segment is expected to dominate global whole exome sequencing market with the market share of 46.81% due to aiding in the understanding of disease mechanisms, the identification of biomarkers, and the development of new drugs.
- On the basis of distribution channel, the global whole exome sequencing market is segmented into direct trade, retail sales and others. Direct trade segment is expected to dominate global whole exome sequencing market with the market share of 59.46% due to increases in direct to customer transport of healthcare products and services, increased revenues, decreased competition, longer product lifespan, easier cash-flow management and better risk management.
Major Players
Data Bridge Market Research recognizes the following companies as the major whole exome sequencing market players in whole exome sequencing market are Thermo Fisher Scientific Inc. (U.S.), QIAGEN (Germany), Illumina, Inc. (U.S.), Beckman Coulter, Inc. (U.S.), Eurofins Scientific (Luxembourg), BIONEER CORPORATION (South Korea), ExoDx (U.S.), FOUNDATION MEDICINE, INC. (U.S.), GeneFirst Limited (U.K.), CeGaT GmbH (Germany), Merck KGaA (Germany), SOPHiA GENETICS (Switzerland), Azenta U.S. Inc. (U.S.), CD Genomics (U.S.), PerkinElmer Genomics (U.S.)
Market Development
- In 2022, Thermo Fisher Scientific, the world leader in serving science, and Qatar Genome Program (QGP), a member of Qatar Foundation (QF), partnered with the goal of accelerating clinical applications AND genomic research of predictive genomics in Qatar as a step toward increasing the benefits of precision medicine across Arab populations globally. This has aided the company's expansion.
- In 2022, several leading genomics companies and laboratories, including Fulgent Genetics, Illumina, Invitae, GeneDx, and PerkinElmer Genomics, formed the CardioGenomic Testing Alliance (CGTA), a collaborative group aimed at increasing awareness and utilisation of genomic testing in cardiology.
Regional Analysis
Geographically, the countries covered in the whole exome sequencing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in whole exome sequencing market the forecast period 2022 - 2029
North America is dominating because of the presence of key market players along the world's largest consumer market with a high GDP. The United States is expected to grow as a result of technological advancement.
COVID-19 Impact Analysis
COVID-19 has resulted in a significant increase in demand for therapeutic supplies from both healthcare professionals and the general public in order to take precautionary measures. Manufacturers of these items can capitalize on the increased demand for medical supplies by ensuring a consistent supply of personal protective equipment on the market. COVID-19 is expected to have a significant impact on the entire exome sequencing market.
The Helix COVID-19 next-generation sequencing (NGS) test was approved by the US Food and Drug Administration (USFDA) in August 2020 under an Emergency Use Authorization (EUA) for use only by the helix laboratory. It is an amplicon-based next-generation sequencing (NGS) test designed to detect nucleic acid from SARS-CoV-2 in upper respiratory specimens from people suspected of having COVID-19 infection. As a result of the increased DNA sequencing-based research and development activities in the development of diagnostic tools or effective COVID-19 therapeutics, the market is expected to maintain its significant growth rate during the forecast period.
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