PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1211741
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1211741
Whole Genome Sequencing Market size was valued at USD 5,307.6 Million in 2022, expanding at a CAGR of 20.2% from 2023 to 2030.
Whole genome sequencing (WGS) appears to be the method of simultaneously determining the whole DNA sequence of an organism's genome. This covers the sequencing of the mitochondrial, chloroplast, and chromosomal DNA of all living things. They are mostly utilised for research. Genomic data is used to pinpoint genetic diseases, monitor disease outbreaks, and describe changes that advance malignancy.
Market Dynamics
WGS is considerably more recent than targeted sequencing and resequencing, and as large capacity sequencing technologies are developed, its deployment is becoming easier. Genome, microbial resequencing, and de novo genome sequencing are among the uses for WGS. It is anticipated that it will greatly grow. The increased use of this technology against COVID-19 is anticipated to fuel market expansion. For instance, a Frontiers paper from March 2022 stated that SARS-CoV-2 infection might be detected using WGS. Additionally, it assisted kids with cancer in distinguishing between infections acquired in a hospital and those acquired in the community. Additionally, in response to the COVID-19 pandemic, the Department of Defense created a SARS-CoV-2 Whole Genome Sequencing Action Plan for the Military Health System in December 2022. Thus, driving the growth of the market during the forecast period.
In addition, there are probably prospects for market expansion due to several efforts taken by significant industry participants and continuous technological development. For instance, Stanford Medicine researchers will sequence a patient's entire genome in under five hours in November 2022 utilising Nanopore Genome Sequencing, AI, and Cloud Computing. In less than eight hours, they also discovered a youngster who had a rare genetic illness. On the other hand, the iHope Genetic Health programme, a USD 120 million worldwide initiative, was unveiled by Illumina and Genetic Alliance in November 2021. With the help of this programme, people throughout the world who are affected by genetic illnesses will have access to WGS.
Segmental Analysis:
The market is divided into two categories based on the type of sequencing: large whole-genome sequencing and small genome sequencing. Due to its widespread use in research and population genetics, the Large Whole-Genome Sequencing segment has the biggest revenue share in the Global Whole Genome Sequencing (WGS) market as of 2020. This segment is predicted to continue to dominate the market during the projected period. Additionally, the sequencing of big genomes with sizes greater than 5Mb, such as those of humans, animals, or plants, offers important medical insights that are fueling the expansion of this market.
Regional Analysis:
The worldwide Whole Genome Sequencing (WGS) Market is dominated by North America in terms of revenue share as of 2021, and this dominance is anticipated to continue during the forecast period. The increased investment in R&D efforts for the creation of novel and cutting-edge molecular diagnostic tests for the early diagnosis of various genetic disorders is primarily responsible for the revenue growth in the North American market. The region's market is primarily supported by factors such as the rising prevalence of various genetic disorders and chronic diseases, rising consumer awareness of early diagnosis, expanding R&D sectors, a well-established healthcare system, the presence of qualified professionals, and the widespread availability of technologically cutting-edge molecular diagnostic tests.
Recent Development:
In September 2020, to further solidify its position as the industry leader in automated molecular testing, QIAGEN acquired NeuMoDx Molecular. NeuMoDx automation solutions for medium- and high-throughput PCR testing are now a part of the QIAGEN product line.
Key features of the study:
This proposed research study on the Whole Genome Sequencing market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Whole Genome Sequencing market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Whole Genome Sequencing market
The impact of COVID-19 on the Whole Genome Sequencing market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Whole Genome Sequencing market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Whole Genome Sequencing market, we have also included a competitive landscape and key innovator analysis for the Whole Genome Sequencing market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Whole Genome Sequencing market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Whole Genome Sequencing market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL WHOLE GENOME SEQUENCING MARKET KEY PLAYERS
Thermo Fisher Scientific
GE Healthcare
Illumina, Inc.
QIAGEN N.V.
Agilent Technologies
10 x Genomics
BGI
Oxford Nanopore
Nebula Genomics
Veritas Genetics
GENEWIZ
GLOBAL WHOLE GENOME SEQUENCING MARKET, BY SEQUENCING TYPE
Large Whole-Genome Sequencing
Small Genome Sequencing
GLOBAL WHOLE GENOME SEQUENCING MARKET, BY PRODUCT
Instrument
Kits
Service
GLOBAL WHOLE GENOME SEQUENCING MARKET, BY APPLICATION
Diagnostics
Drug Discovery and Development
Personalized Medicine
Others
GLOBAL WHOLE GENOME SEQUENCING MARKET, BY END USER
Hospitals and Clinics
Pharmaceutical and Biotechnology Companies
Others
GLOBAL WHOLE GENOME SEQUENCING MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA