Market Overview
Global Whole Exome Sequencing Market size is expected to register a CAGR of 19.80% to reach USD 2,696.03 Million by 2025.
Synopsis
Whole exome sequencing is a widely used next-generation sequencing (NGS) method to determine the nucleotide sequence primarily of the protein-coding regions of an individuals related sequences, representing approximately 1% of the complete DNA sequence. The human exome represents less than 2% of the genome but contains ~85% of known disease-related variants. This is the key reason for the usage of exome in the identification and the determination of genetic variants causing various diseases such as Miller syndrome and Alzheimer’s.
Factors that drive the market growth are the decreasing cost of sequencing, the use of whole-exome sequencing technology for varied applications, and strategic alliances amongst key players & research institutes. However, the lack of skilled professionals and ethical & legal issues related to whole-exome sequencing are hampering the growth of the market.
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Market Dynamics
Market players operating in the global whole exome sequencing market are focusing on product launches, approvals, and partnerships to gain market dominance and keep their product updated and in demand. For instance, in November 2019, NantHealth, Inc. (US), a next-generation, personalized healthcare company, received FDA authorization of Omics CoreSM, the first whole-exome sequencer used to analyze both tumor and somatic gene to measure overall tumor mutational burden (TMB) in cancer tissue.
Segmentation
Global Whole Exome Sequencing Market has been segmented on the basis of Product, Technology, Application, and End User. The market, based on product, has been segmented into kits, sequencer, and services. Kits are further segmented into DNA Fragmentation, End Repair, A-Tailing, And Size Selection Kits, Library Preparation, and Target Enrichment. Services are further sub-segmented into Sequencing Services, Data Analysis (Bioinformatics), and Others. The global whole exome sequencing market, by technology, has been categorized as Sequencing by Synthesis (SBS), ION Semiconductor Sequencing, and others. The market by application is segmented into diagnostics, drug discovery, and development, agriculture and animal research, others. Based on end user, the market is segmented into research centers and government institutes, hospitals and diagnostics centers, pharmaceutical & biotechnology companies, and others.
Regional Analysis
The Americas was the largest market for whole exome sequencing in 2019. The growth of the Americas market is due to the high prevalence rate of cancer and other chronic disorders and rising healthcare expenditure. Additionally, favorable initiatives by the government and other organizations for the development and adoption of whole-exome sequencing technologies are driving the market for whole-exome sequencing. For instance, in 2018, All of Us Research Program, a part of the National Institutes of Health, awarded funds over USD 28.6 million to establish three genome centers in the US. These centers aim to produce genome data for researchers and the program’s precision medicine research platform, a national resource to support studies on a variety of important health questions.
Europe is the second-largest market for whole exome sequencing with Western Europe, holding the largest market share. The European market is expected to register a sturdy growth rate during the forecast period due to rising cases of cancer and increasing programs for the adoption of genome sequencing. According to the International Agency for Research on Cancer, in 2018, there were about 4,229,662 cases of cancer in Europe. This huge cases of cancer and rising genome mapping programs are expected to have a positive impact on the growth of the whole-exome sequencing market.
Asia-Pacific is expected to represent the highest market growth potential over the forecast period due to the growing patient pool and increasing technological advancements. The fast growth of the Asia-Pacific region is due to the increasing per capita income along with government initiatives to enhance the quality of healthcare. China, India, and Australia have a lucrative market for Whole Exome Sequencing due to the growing older population. Moreover, according to the report published by the United Nations in 2015, the number of older people aged 60 years or above in the world is predicted to grow by 56% between 2015 and 2030. 66% of the older population out of the total global population would also reside in the Asia-Pacific region.
In the Middle East & Africa, the whole exome sequencing market accounts for significant market share. Countries such as Kuwait, the UAE, and Saudi Arabia are likely to show steady growth due to increasing cancer cases, rising initiatives by governments to improve patient care, and favorable reimbursement policies. However, the rest of the Middle East and Africa might show an inactive growth due to affordability and accessibility issues.
Key Players
The Prominent Players in the Global Whole Exome Sequencing Market are Illumina Inc. (US), BGI (China), Eurofins Scientific (Belgium), Thermo Fisher Scientific (US), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), GENEWIZ (US), Ambry Genetics (US), Macrogen, Inc. (South Korea), Integragen SA (France), and others.
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