Whole Exome Sequencing Market Analysis & Opportunity Outlook 2023-2035

Global Whole Exome Sequencing Market Size, Forecast, and Trend Highlights Over 2023 – 2035

The global whole exome sequencing market size is estimated to reach ~USD 43.36 Billion by the end of 2035 by growing at a CAGR of ~25.00% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of whole exome sequencing was ~USD 2.98 Billion. The growth of the market can be attributed to growing number of people having genetic mutation. A mutation, often known as a change in a gene, is the cause of more than about 9000 human diseases. About 9 out of every 1000 persons are impacted. According to this, between approximately 60 million and 80 million people worldwide are afflicted by one of these illnesses. Hence, the demand for whole exome sequencing is estimated to increase. Exome sequencing has been proven to be able to identify genetic variants linked to developmental and birth abnormalities. Hence, exome sequencing may allow patients who have a family history of disease or are looking for a diagnosis to explain their symptoms to forego unnecessary diagnostic procedures.

Moreover, the market is also being driven by rising R&D in the fields of genomics and next-generation sequencing. For instance, in May 2022 NanoString Technologies, Inc. released a cloud-based process that enhances the spatial data analysis experience for users of the GeoMx Digital Spatial Profiler and Illumina NextSeq 1000 and NextSeq 2000 sequencing equipment. With the help of this integrated, push-button run planning tool, the geographical analysis of whole transcriptomes and proteome analytes has been made simpler. Hence, the market is anticipated to be driven by such advancements. Also, the government spending on R&D for whole exome sequencing is also growing which is also estimated to boost the growth of the market over the forecast period.

Global Whole Exome Sequencing Market: Growth Drivers and Challenges

Growth Drivers

Growing Prevalence of Rare Disease

According to National Center for Advancing Translational Sciences, one in ten Americans, or 30 million people, are thought to be affected by one of the more than 10,000 identified rare diseases. Heuristic methods, which combine the clinical knowledge gained from earlier unusual disease presentations with the body of medical literature, are a significant part of traditional diagnostic techniques. Several people with rare diseases go years without receiving a diagnosis, and many even pass away. Hence, exome sequencing has made it possible to pinpoint the underlying molecular mechanism of such uncommon and undetected disorders. Therefore, this factor is estimated to boost the growth of the market.

An Increase in Funding for Genomics Research

The government has announced money for the development of the world's most cutting-edge healthcare system for genomics, which would assist to save lives and enhance health outcomes. The UK's Health and Social Care Secretary announced an investment of about USD 174 million for innovative genomics research in 2022.

Reduction in Cost of Sequencing

The price of sequencing one million DNA bases—just the raw data from a sequencer—has decreased from over USD 1,100 in 2004 to roughly about USD 0.09 in 2011, and it was more or less at approximately USD 0.02 in 2019.

Growth in Number of Children Born with Genetic Defect

Birth defects are frequent. A baby with a birth defect is born in the United States every four and a half minutes. This translates to about 110,000 births every year, or approximately 2 out of every 33.

Upsurge in Healthcare Infrastructure

In 2021, the amount spent on health care in the United States increased by about 3 percent reaching approximately USD 3 trillion, or about USD 12,913 per person.

Challenges

Lack of Skilled Professional
Whole Exome Sequencing Ethical & Legal Issue
Growing Demand for WGS - Certain exons may not be captured. Current standard annotations of the human genome may not include the important exon, and using the WES technology currently available, it is simply difficult to cover the entire exome. Hence, disease-causing mutations in these "missing" exons won't be noticed. If the most thorough exon coverage is required, WGS has proven to offer more thorough exome coverage than WES. Hence, this factor is estimated to hinder the growth of the market.

Global Whole Exome Sequencing Market Segmentation

The global whole exome sequencing market is segmented and analyzed for demand and supply by application into diagnostics, drug discovery & development, personalized medicine, and agriculture & animal research. Out of which, the personalized medicine segment is anticipated to garner the highest revenue by the end of 2035. The growth of the segment can be attributed to growing prevalence of multiple cancer forms. Since, more people than ever before are receiving their initial cancer diagnosis later in life, second cancers are becoming more prevalent. One in about five individuals with a cancer diagnosis have already experienced another type of malignancy in America. Hence, a greater focus is being placed on personalized medicine. Moreover, this is also driven by a fundamental change from the "one size fits all" model for treating individuals with disorders or a propensity for diseases, and towards one that embraces novel approaches, including personalized target medicines, to get the greatest results. In order to profit from personalized treatment, a number of national and international genome initiatives have been launched. In contrast to whole genome sequencing, exome and targeted sequencing offer a compromise between cost and utility.

The global whole exome sequencing market is also segmented and analyzed for demand and supply by product into systems, kits, and services. Amongst which, services segment is anticipated to have a significant growth over the forecast period. Researchers could devote more time to their work rather than tedious analytical tasks as a result of the sophisticated bioinformatics visualization capabilities given by Next-Generation Sequencing (NGS) and data analysis services. These sequence analysis services provide a variety of services, including experimental planning, library construction from a variety of samples, and downstream DNA sequence analysis. The complexity of a number of bioinformatics-related problems has been reduced for scientists and researchers owing to these services, which have also decreased the amount of time and money required for sequencing and data management. Using whole exome sequencing, which focuses on the most crucial portion of the genome, enables researchers to more effectively utilize sequencing and analytical resources.

Our in-depth analysis of the global whole exome sequencing market includes the following segments:

By Product	Systems Kits Services
By Technology	Sequencing by Synthesis ION Semiconductor Sequencing
By Application	Diagnostics Drug Discovery & Development Personalized Medicine Agriculture & Animal Research
By End-User	Hospitals Clinics Research Centers Academia & Government Institutes Pharmaceutical & Biotechnology Companies

Global Whole Exome Sequencing Market Regional Synopsis

The market share of whole exome sequencing in North America, amongst the market in all the other regions, is projected to have the highest growth, backed by growing prevalence of hereditary and chronic disease, along with surge in demand for targeted and precision medicine. About half of all Americans (around 45%, or 133 million) experienced at least one chronic illness in 2018, and the number is rising. Chronic illnesses are a particular category of silent illness that, if not treated in a timely manner, could harm individuals irreversibly. Hence, the market for whole exome sequencing in North America is growing. Moreover, next-generation sequencing (NGS) is becoming a potent tool for delivering a deeper and more precise insight at the molecular underpinnings of individual tumors and specific receptors as genomics-focused pharmacology continues to play a greater role in the treatment of various chronic diseases, particularly cancer in North America.

The European whole exome sequencing market is estimated to be the second largest, to have the highest growth over the forecast period. The Human Immunodeficiency Virus (HIV) and rising cancer rates have both had a big positive impact on the European market. The increased use of genetics in medicine has also significantly impacted the next-generation sequencing market in Europe's future expansion. Genome editing, gene synthesis, and next-generation sequencing are just a few of the technologies employed in genomics. Given the consistently falling cost of sequencing and strategic alliances between top corporations and premier research universities, the Germany market accounted for the greatest revenue share. A further factor in this region's market revenue increase is the rising prevalence of genetic diseases.

Additionally, the market in Asia Pacific region is estimated to have the significant growth over the forecast period. The growth of the market in this region can be attributed to growing genetic abnormalities in this region. However, given the significant socioeconomic differences in the region and the paucity of research, knowledge, and health policies for those with rare diseases, managing rare diseases is particularly difficult in Asia and the Pacific. The area also struggles with a lack of medical knowledge and momentum when it comes to recognizing and meeting patients' unmet needs. Most crucially, these shortcomings are made worse by the paternalistic health systems in the area, where patients' opinions are rarely valued or heard. Hence, government are taking initiatives in order to spread awareness among people and also investing highly on research & development of exome sequencing.

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Top Featured Companies Dominating the Global Whole Exome Sequencing Market

Illumina, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Bio-Rad Laboratories Inc.
Ambry Genetics
Eurofins Discovery
Thermo Fisher Scientific, Inc.
F. Hoffmann-La Roche Ltd.
Agilent Technologies Inc.
BGI Group
Macrogen Inc.
Azenta US Inc.

In The News

The first blood virological profile of the Chinese population was created in October 2022 by BGI Group, Ruijin Hospital, and Shanghai Jiao Tong University Institute of Translational Medicine using BGI's DNBSEQ sequencing platform. This analysis involved a thorough examination of non-human genetic sequences in the whole genome sequencing (WGS) data of about 10,584 individuals from the China Metabolic Analysis Program (ChinaMAP). The findings, which were published in the journal Cell Discovery, serve as a resource for viral infection epidemiology and prevention.
The SEQuoia RiboDepletion Kit, which increases test efficiency by removing pointless ribosomal RNA (rRNA) fragments from an RNA-Seq library, has been introduced by Bio-Rad Laboratories, Inc., a world leader in life science research and clinical diagnostic products.

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the whole exome sequencing market?

Ans: The major factors driving the growth of the market are growing prevalence of rare disease, an increase in funding for genomics research, reduction in cost of sequencing, and others.

2) What would be the CAGR of whole exome sequencing market over the forecast period?

Ans: The market size of whole exome sequencing is anticipated to attain a CAGR of ~25.00% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the whole exome sequencing market growth?

Ans: Lack of skilled professional, whole exome sequencing ethical & legal issue, and growing demand for WGS are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of whole exome sequencing market in future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the whole exome sequencing market?

Ans: The major players in the market are Illumina, Inc., Bio-Rad Laboratories Inc., Ambry Genetics, Eurofins Discovery, and more.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the whole exome sequencing market?

Ans: The market is segmented by product, technology, application, end-user and by region.

8) Which segment captures the largest market size in the product segment in the whole exome sequencing market?

Ans: The services segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Base Year	2022
Forecast Year	2023-2035
CAGR	~25.00%
Base Year Market Size (2022)	~ USD 2.98 Billion
Forecast Year Market Size (2035)	~ USD 43.36 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)