Market Size of Whole Exome Sequencing Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 1.99 Billion |
Market Size (2029) | USD 4.53 Billion |
CAGR (2024 - 2029) | 17.89 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Whole Exome Sequencing Market Analysis
The Whole Exome Sequencing Market size is estimated at USD 1.99 billion in 2024, and is expected to reach USD 4.53 billion by 2029, growing at a CAGR of 17.89% during the forecast period (2024-2029).
Key factors propelling the global whole exome sequencing market include its rising applications in clinical diagnostics, heightened demand for rare disease diagnoses, intensified R&D efforts in genomics and next-generation sequencing, and an increasing appetite for personalized medicine. For example, a March 2022 article in the British Medical Journal highlighted that whole exome sequencing is routinely available for a select group of patients diagnosed with rare childhood genetic diseases. The article further emphasized that next-generation sequencing can rapidly sequence hundreds or even thousands of genes at a significantly reduced cost. Given these advantages, the market for whole exome sequencing is poised for growth in the coming years.
Additionally, whole exome sequencing plays a pivotal role in testing the genomes of viruses linked to diseases like HIV, cancer, and COVID-19. As the prevalence of these diseases rises, so does the demand for whole-exome sequencing. For instance, according to the World Health Organization (WHO) HIV Statistics, around 39.9 million people globally were living with HIV in 2023. Such genomic sequencing methods shed light on genetic variants that may lead to diseases, further amplifying the demand for RNA sequencing.
Moreover, the surge in R&D within genomics and next-generation sequencing is fueling market growth. For instance, in May 2022, NanoString Technologies Inc. unveiled a cloud-based workflow designed to enhance spatial data analysis for users of the Illumina NextSeq 1000, NextSeq 2000 sequencing systems, and the GeoMx Digital Spatial Profiler. This innovation streamlines the spatial analysis of whole transcriptomes in tandem with proteome analytes due to its integrated, user-friendly run planning tool. Such advancements are expected to bolster the market further.
In conclusion, the aforementioned factors indicate a robust growth trajectory for the market. The intricate nature of the technique, a pressing need for skilled professionals, and the legal and ethical dilemmas surrounding whole exome sequencing may restrain the market's expansion.
Whole Exome Sequencing Industry Segmentation
As per the scope of the report, exome sequencing is a technique for sequencing all the exome and protein-coding genes in a genome. This technique includes the selection of the subset of DNA that encodes proteins or exons, followed by sequencing of the exonic DNA using high-throughput DNA sequencing methods. It also provides a cost-effective screening approach for the diagnosis of genetic disorders. It presents itself as a less resource-intensive alternative to whole-genome sequencing in several applications, including drug discovery and development processes.
The whole exome sequencing market is segmented by product type, technology, application, and geography. By product type, the market is segmented into systems, kits, and services. By technology, the market is segmented into second-generation sequencing and third-generation sequencing. By second-generation sequencing, the market is segmented into sequencing, by synthesis (SBS) and sequencing, by hybridization and ligation (SBL). By application, the market is segmented into diagnostics, drug discovery and development, personalized medicine, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report offers the value (USD) for the above segments.
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Third-generation Sequencing |
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Diagnostics | |
Drug Discovery and Development | |
Personalized Medicine | |
Other Applications (Agriculture, Animal Research, etc.) |
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Whole Exome Sequencing Market Size Summary
The whole exome sequencing market is experiencing significant growth, driven by its expanding applications in clinical diagnostics and the increasing demand for rare disease diagnoses. The market is further bolstered by intensified research and development efforts in genomics and next-generation sequencing, alongside a growing interest in personalized medicine. Whole exome sequencing is becoming a standard practice for diagnosing rare childhood genetic diseases and is instrumental in understanding the genomes of viruses associated with conditions such as HIV, cancer, and COVID-19. The advancements in next-generation sequencing technologies, like those introduced by NanoString Technologies, are enhancing the capabilities of genomic analysis, thereby propelling market expansion. However, the market's growth may be tempered by the complexity of the techniques, the need for skilled professionals, and the legal and ethical challenges associated with genomic sequencing.
The personalized medicine segment is poised for substantial growth, driven by the rising prevalence of various cancers and the affordability of tailored therapies. The shift towards precision medicine, which focuses on individual genetic profiles, is gaining traction due to its potential to offer safer and more effective treatments. Strategic initiatives, such as the Medical Device Innovation Consortium's pilot project and Illumina's Global Health Access Initiative, are expected to further fuel this segment's expansion. North America emerges as a leading regional market, supported by an aging population, increasing demand for targeted therapies, and supportive government policies. The market is moderately consolidated, with key players like Eurofins Scientific Group, Bio-Rad Laboratories Inc., and Illumina Inc. actively engaging in partnerships and product launches to enhance their market presence.
Whole Exome Sequencing Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Applications in the Clinical Diagnosis and Growing Demand for the Diagnosis of Rare Diseases
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1.2.2 Increasing R&D in the Field of Genomics and Next-generation Sequencing
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1.2.3 Increasing Demand for Personalized Medicine
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1.3 Market Restraints
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1.3.1 High Complexity of Technique and Lack of Skilled Personnel
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1.3.2 Legal and Ethical Issues Associated with Whole Exome Sequencing
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value in USD)
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2.1 By Product Type
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2.1.1 System
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2.1.2 Kits
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2.1.3 Services
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2.2 By Technology
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2.2.1 Second-Generation Sequencing
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2.2.1.1 Sequencing by Synthesis (SBS)
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2.2.1.2 Sequencing by Hybridization and Ligation (SBL)
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2.2.2 Third-generation Sequencing
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2.3 By Application
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2.3.1 Diagnostics
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2.3.2 Drug Discovery and Development
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2.3.3 Personalized Medicine
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2.3.4 Other Applications (Agriculture, Animal Research, etc.)
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Whole Exome Sequencing Market Size FAQs
How big is the Whole Exome Sequencing Market?
The Whole Exome Sequencing Market size is expected to reach USD 1.99 billion in 2024 and grow at a CAGR of 17.89% to reach USD 4.53 billion by 2029.
What is the current Whole Exome Sequencing Market size?
In 2024, the Whole Exome Sequencing Market size is expected to reach USD 1.99 billion.