Whole Exome Sequencing Market Portrayal
A latest report has been added to Market Research Future’s offering in this COVID 19 pandemic that states, the global whole exome sequencing market 2020 might strike growth at a percent of 19.80 in the period of 2016-2025. With this, in this year also, the market would gain revenue of USD 2,696.03 Million.
Whole Exome Sequencing Market Drivers & Trends
The whole-exome sequencing permits identifying the variations in the protein-coding sites of any gene compared to sequencing a few genes mutually. The whole-exome sequencing is preferred widely owing to its property to identify a mutation in a single exon. Identifying mutation in at the original site makes whole-exome sequencing a capable method and enables to identify possible disease-causing mutation.
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The global whole exome sequencing market might expand at a rapid pace owing to factors such as rapidly declining costs of sequencing, research institutes, strategic alliances among major companies, adoption of WES technology by new consumers, and surge in use of whole exome sequencing technology for new applications.
Surge in acceptance of next generation sequencing methods for treatment, prediction, and monitoring of diverse chronic diseases such as cancer is possible to motivate the market. In fact, the advancement in the field of genomics has also led to a noteworthy reduction in the time and cost of genome sequencing.
Apart from this, the associated cost of sequencing with different sequencing techniques and strategies are of interest as they persuade the scope and scale of the genomic research studies. Thus, it makes whole-exome sequencing much-preferred method than whole-genome sequencing, which has become a well-defined factor for the growth of the market.
On the contrary, the factor of lack of skilled professionals and legal issues linked with the technique might restrain the global whole exome sequencing market. In this case, soaring demand for personalized medicine and development of new innovative products by top players offer numerous opportunities for market expansion in the coming years.
Whole Exome Sequencing Market Segment Review
Global Whole Exome Sequencing Market is studied over the segments of product, technology, application, and end user.
The market, based on product segment, has included sequencer, kits, and services. Kits segment is further segmented into end repair, DNA fragmentation, A-tailing, library preparation, size selection kits, and target enrichment. Services segment is also further sub-segmented into Data Analysis (Bioinformatics), Sequencing Services, and others.
The global whole exome sequencing market, by technology segment, has included ION semiconductor sequencing, Sequencing by Synthesis (SBS), and others.
The market by application segment has included drug discovery, diagnostics, agriculture, development, animal research, and others.
Based on end user segment, the market has included pharmaceutical & biotechnology companies, hospitals and diagnostics centers, research centers and government institutes, and others.
Whole Exome Sequencing Market Regional Framework
The Americas was the prevalent market for whole exome sequencing in the year 2019. The growth of the Americas market happened owing to the towering 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 motivating the market for whole-exome sequencing. In the case of point, in the year 2018, All of Us Research Program, a part of the National Institutes of Health, awarded funds over USD 28.6 million to launch three genome centers in the US. These centers intend 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-prime market for whole exome sequencing. Western Europe holds the leading market share. The European market might record a muscular growth rate during the forecast period owing to intensifying cases of cancer and rising programs for the adoption of genome sequencing. As per the International Agency for Research on Cancer, in the year 2018, there were about 4,229,662 cases of cancer in Europe. These huge cases of cancer and rising genome mapping programs might have a positive impact on the expansion of the whole-exome sequencing market.
Asia-Pacific might represent the maximum market growth potential over the forecast period owing to the increasing patient pool and rising technological advancements. The fast growth of the Asia-Pacific region is owing to the mounting per capita income along with government initiatives to enhance the quality of healthcare. China, India, and Australia have a rewarding market for Whole Exome Sequencing owing to the growing older population.
Whole Exome Sequencing Market Top Players
The top players in the global whole exome sequencing market are BGI (China), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd (Switzerland), Agilent Technologies, Inc. (US), Ambry Genetics (US), Integragen SA (France), and Macrogen, Inc. (South Korea).
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