Whole Genome Sequencing Market to Be Worth $7.17 Billion by 2031 - Exclusive Report by Meticulous Research®

Whole Genome sequencing is a method for analyzing entire genome. It determines precise order of every base pair in a genome. Whole genome sequencing provides information about protein coding and non-coding regions. With the advent of next generation sequencing whole genome sequencing have become cheaper, faster and powerful. Whole genome sequencing has wide applications including genetic disease research, cancer research, genotyping and epidemiology. Whole Genome sequencing is a method for...

REDDING, Calif., 11/11/2024 (informazione.it - comunicati stampa - salute e benessere)

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The growth of this market can be attributed the declining costs of sequencing, the increasing prevalence of cancer & genetic disorders, the growing utilization of whole genome sequencing in disease diagnostics & precision medicine, increasing pharmaceutical R&D expenditures, improvements in regulatory & reimbursement scenarios for whole genome sequencing, rising healthcare expenditures, increasing funding for research activities, the growing need for the early detection & prevention of diseases, technological advancements in sequencing products, and government initiatives promoting the use of sequencing in clinical & research applications. However, the high costs of whole genome sequencing consumables, the low chances of identifying positive actionable mutations for precision medicine, and the ethical & legal issues related to whole genome sequencing-based diagnosis restrain the market's growth.

Furthermore, increasing applications of whole genome sequencing, government support for large-scale genomic sequencing projects, and emerging economies are expected to generate growth opportunities for the players operating in this market. However, uncertainties in the regulatory landscape, the limited expertise & sequencing capabilities of small & medium-sized laboratories, the lack of sequencing professionals in developing countries, and the high capital investments required for NGS setups are major challenges impacting market growth.

Emerging whole genome sequencing companies' focus on improving technologies and reducing costs and key market players' emphasis on portable and real-time sequencing technologies are prominent trends in the whole genome sequencing market.

The Growing Utilization of Whole Genome Sequencing in Disease Diagnostics & Precision Medicine is Driving the Market.

The utilization of sequencing technologies is rapidly growing in precision medicine. Advancements in genome sequencing technologies are changing how doctors diagnose and treat cancer. New targeted cancer treatments that use genomic data to provide patient-specific treatments are known as precision oncology, a rapidly developing field that has already become a part of mainstream clinical practices. It involves the molecular profiling of cancer cells to identify targetable alterations, also known as biomarkers. Quick and reliable simultaneous sequencing of multiple genes has become possible with the availability of sequencing technologies such as NGS and nanopore sequencing.

The advent of NGS has helped develop precision medicine, which involves tailoring treatments based on disease-causing molecular changes in a person's body. While whole genome sequencing is conducted in various scenarios, oncologists are currently using it to sequence patients' biopsy samples to determine the right medicines that can target the genetic abnormalities driving tumor growth.

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The key players operating in the whole genome sequencing market are Illumina, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S), QIAGEN N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), PerkinElmer, Inc. (U.S) Agilent Technologies, Inc. (U.S), Pacific Biosciences of California Inc. (U.S), Danaher Corporation (U.S), Bio-Rad Laboratories, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K),MGI Tech Co., Ltd. (China), Beijing Genomics Institute (BGI) (China).

Whole Genome Sequencing Industry Overview: Latest Developments from Key Industry Players (INSTANT DOWNLOAD FREE PDF SAMPLE)

Based on offerings studied in this report, in 2024, the consumables segment is slated to register the highest CAGR of 15.4% during the forecast period. Growing demand for whole genome sequencing kits and reagents and increasing whole genome sequencing product launches by key market players. Furthermore, recurring demand for whole genome sequencing consumables, and increase in number of sequencing projects are factors expected to support the segment's high growth.

Based on sequencing types studied in this report in 2024, the large whole-genome sequencing segment is slated to register the highest CAGR of 15.8% during the forecast period. The large whole-genome sequencing helps in identification of causative variants which helps in further studies of regulation mechanism and gene expression, helps in sequencing large genome for providing population level studies which increases the adoption of large whole genome sequencing in research are factors expected to support the segment's high growth.

Based on technologies studied in this report, in 2024, the sequencing by synthesis segment is slated to register the highest CAGR of 16.2% during the forecast period. The sequencing by synthesis technology offers long-insert paired-end reads for de novo sequencing and sequence assembly, it supports both paired end and single read libraries. Furthermore, its cost effectiveness, and high-resolution genome sequencing offered by the technology increases the adoption of the sequencing by synthesis technology are factors expected to support the segment's high growth.

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Based on applications studied in this report, the clinical applications segment is slated to register the highest CAGR of 17.3% during the forecast period. The growing cases of infectious diseases, and rising number of cancer cases. According to the World Health Organization, the global burden of cancer is expected to increase from 19.3 million cases in 2020 to 24.6 million cases by 2030 are factors expected to support the segment's high growth.

Based on end users studied in this report, in 2024, hospitals & Diagnostic Laboratories segment is slated to register the highest CAGR of 16.7% during the forecast period. Hospitals & diagnostic laboratories are dedicated facilities for various diagnostic procedures. These facilities are involved in genetic disease testing, infectious diseases testing, NIPT, carrier screening, in-vitro fertilization, and newborn screening. All these procedures require whole genome sequencing products to obtain critical insights for treatment purposes. The growing adoption of NGS in diagnostic laboratories are factors expected to support the segment's high growth.

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa.

Among all regions studied in this report, Asia-Pacific is expected to register the highest CAGR of 16.4% during the forecast period. The growth of this segment is attributed to the increasing investments from market players and government organizations in healthcare sector, rising focus on medical tourism and becoming competitive in the global biotech market. Additionally, governments in this region are aiming to make considerable developments in genomic research. For instance, in March 2024, the Genome India Project, started by Department of Biotechnology in India completed sequencing of 10,000 Indian genomes. Also, the bioeconomy of India is expected to grow approximately to USD 130 billion in 2024 from USD 10 billion of 2014.

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Scope of the Report:

Whole Genome Sequencing Market Assessment— by Offering

Note: Other consumables include vials, pipettes, containers, trays, sequencing reagents, flow cells, and tubes.

Whole Genome Sequencing Market Assessment— by Sequencing Type

Note: Other Whole-genome sequencing types include De novo sequencing, Phased sequencing, Long-read sequencing, Clone-by-clone sequencing.

Whole Genome Sequencing Market Assessment— by Technology

Note: Other whole genome sequencing technologies include nanopore sequencing and AVITI sequencing (Avidity base chemistry (ABC).

Whole Genome sequencing Market Assessment—by Application

Note: Other applications include food microbiology, microbiota analysis in the beverage industry, and environmental studies.

Other clinical applications include the detection of genetic aberrations in neurological disorders, rare diseases, metabolic and immune disorders, and food-borne illnesses.

Whole Genome Sequencing Market Assessment—by End User

Note: Other end users primarily include forensic laboratories & security agencies, food & beverage companies, and agriculture companies.

Whole Genome Sequencing Market Assessment—by Geography

Read More Related Reports:-

Next Generation Sequencing (NGS) Informatics Market is projected to reach $4.3 billion by 2030, at a CAGR of 15.4% from 2023 to 2030 - https://www.meticulousresearch.com/product/ngs-informatics-market-3483

Next Generation Sequencing Services Market is expected to register a CAGR of 19.8% from 2024 to 2031 to reach $24.44 billion by 2031 - https://www.meticulousresearch.com/product/next-generation-sequencing-services-market-5041

Next generation sequencing market is expected to reach $27.5 billion by 2030, at a CAGR of 15.8% from 2023–2030 - https://www.meticulousresearch.com/product/next-generation-sequencing-market-5040

Sequencing Kits Market is projected to reach $25.29 billion by 2031, at a CAGR of 15.5% from 2024 to 2031- https://www.meticulousresearch.com/product/sequencing-kits-market-5656

DNA Sequencing Market, valued at $9.14 Billion in 2023, is projected to reach $21.30 Billion by 2031, growing at a CAGR of 11.8% from 2024 to 2031 - https://www.meticulousresearch.com/product/dna-sequencing-market-5992

NGS Automation Market is expected to grow at a CAGR of 13.4% from 2022–2029 to reach $1.33 billion by 2029 - https://www.meticulousresearch.com/product/ngs-automation-market-5271

Whole Genome Sequencing Market Research Summary -

by Technology

by Application

by End User

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