Whole Exome Sequencing Market: 2020 Global Industry Share, Size, Key Players
Global Whole Exome Sequencing Market Report by MRFR extends precise and unmistakable points of interest through the scope of years 2019-2025. The Industry report includes inside and outside investigation and bits of understanding of Whole Exome Sequencing Market.
Whole Exome Sequencing Market Overview
As per Market Research Future (MRFR) analysis, the global whole exome sequencing market is estimated to reach USD 2,696.03 million with a CAGR of 19.80% from 2019 to 2025 (forecast period).
Whole exome sequencing is a broadly used next-generation sequencing (NGS) method to determine the nucleotide sequence primarily of protein-coding regions of individual-related sequences, reflecting approximately 1% of the complete DNA sequence. Human exome accounts for less than 2% of the genome but contains -85% of known disease-related variants. This is the primary explanation for the use of exome in the detection and determination of genetic variants that cause different diseases, such as Miller syndrome and Alzheimer's.
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Whole Exome Sequencing Market Dynamics
Factors driving market growth include decreasing sequencing costs, the use of whole exome sequencing technology for a variety of applications, and strategic alliances between key players and research institutes.
Moreover, market players are operating in the global exome sequencing market emphasis on product launches, approvals, and collaborations to gain market dominance and keep their product updated and in demand. For example, in November 2019, NantHealth, Inc. (US), a next-generation, personalized healthcare company, received FDA approval from Omics CoreSM, the first whole exome sequencer used to examine both tumor and somatic genes to determine the overall tumor mutation burden (TMB) in cancer tissue.
However, the lack of qualified professionals and ethical and legal concerns related to whole exome sequencing are hindering the growth of the industry.
Whole Exome Sequencing Market Segmentation
The global market for whole exome sequencing market has been segmented based on the product, technology, application, and end-user.
Based on the product, the global market for whole exome sequencing has been segmented into kits, sequencer, and services. Kits are further divided into DNA Fragmentation, A-Tailing, End Repair, Size Selection Kits, Target Enrichment, and Library Preparation. Services are further sub-segmented into Data Analysis (Bioinformatics), Sequencing Services, and Others.
Based on technology, the global market for whole exome sequencing has been classified as Sequencing by Synthesis (SBS), ION Semiconductor Sequencing, and others.
Based on application, the global market for whole exome sequencing has been segmented into diagnostics, drug discovery, development, agriculture, animal research, and others.
Based on end-user, the global market for whole exome sequencing has been segmented into research centers, government institutes, hospitals and diagnostics centers, pharmaceutical and biotechnology companies, and others.
Whole Exome Sequencing Market Regional Analysis
The global market for whole exome sequencing is segmented into the Americas, Europe, the Asia Pacific, and the Middle East & Africa.
The Americas were the biggest whole exome sequencing market in 2019. The expansion of the Americas market is due to the increasing prevalence of cancer and other chronic disorders and rising healthcare expenditure. In addition, favorable initiatives by the government and other organizations for the development and adoption of whole exome sequencing technologies are fueling the market growth for whole exome sequencing. For example, in 2018, the All Us Research Program, part of the National Institutes of Health, received more than USD 28.6 million in funding to establish three genome centers in the US.
Europe is the second-largest whole exome sequencing market in Western Europe, with the largest market share. The European market is projected to have a steady growth rate during the forecast period due to growing cancer cases and increasing genome sequencing programs. As per the International Agency for Cancer Research, there were nearly 4,229,662 cases of cancer in Europe in 2018. These huge cancer cases and increasing genome mapping programs are expected to have a significant impact on the growth of the whole exome sequencing market.
The Asia Pacific is projected to show the highest potential for market growth over the forecast period due to the rising patient pool and growing technological advancements. The rapid growth of the Asia Pacific region is due to an increase in per capita income and government initiatives to improve the quality of healthcare. China, India, and Australia have a profitable market for whole exome sequencing due to the growing elderly population.
In the Middle East & Africa, the whole exome sequencing market accounts for a substantial market share. Countries such as Kuwait, Saudi Arabia, and the UAE are expected to see steady growth due to a rise in cancer cases, increasing government efforts to enhance health care, and favorable reimbursement policies. Nevertheless, the rest of the Middle East and Africa may show inactive growth due to affordability and accessibility issues.
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Whole Exome Sequencing Market Key Players
The prominent participants in the global whole exome sequencing market are Illumina Inc. (US), BGI (China), Eurofins Scientific (Belgium), Agilent Technologies, Inc. (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd (Switzerland), Ambry Genetics (US), GENEWIZ (US), Macrogen, Inc. (South Korea), Integragen SA (France), and others.
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