PUBLISHER: Grand View Research | PRODUCT CODE: 1587793
PUBLISHER: Grand View Research | PRODUCT CODE: 1587793
The global whole exome sequencing market size is expected to reach USD 1,272.5 million by 2030, registering to grow at a CAGR of 18.44% from 2024 to 2030 according to a new report by Grand View Research, Inc. One of the primary factors driving the market is the advancement in technology for whole exome sequencing. High throughput technology is becoming more widely used in clinical diagnostics and research which helps doctors to better understand the exome sequence disorders and made a treatment accordingly. Additionally, the rising prevalence of genetic conditions has enabled the adoption of whole exome sequencing for the investigation of protein coding regions and the derivation of valuable output about genetic variants.
Additionally, the significant increase in research including whole exomes is driven by the availability of data analysis and interpretation software. The use of these tools and software to examine genetic data is easy and it provides a fresh insight into the underlying causes of genetic abnormalities and diseases. For instance, in May 2022, Illumina's subsidiary Grail, announced a partnership with the U.S. Department of Veterans Affairs, to provide their Galleri multi-cancer early detection test to U.S. veterans. This test utilizes whole exome sequences to detect multiple types of cancer in the early stages. This partnership exemplifies how the usage of whole exome sequencing and advanced data analysis tools can enable large-scale genomic research and transform the future of precision medicine.
The market has been significantly impacted by the COVID-19 pandemic. An example of how whole exomes have been used to better understand the virus and its dissemination is the COVID-19 Genomics UK Consortium study. The pandemic has also brought attention to the promise of exome sequence in the fight against infectious diseases, spurring additional investment in this field of study. The entire market is anticipated to develop in the upcoming years despite difficulties brought on by the pandemic in 2020.