Whole Exome Sequencing Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period.
The report on the Global Whole Exome Sequencing Market provides at the close goings-on and shakeups caused by COVID-19 pandemic. Further, the report also takes into account the impact of the novel COVID-19 pandemic on the Whole Exome Sequencing Market and offers suggestions objectively based on conditions of the market. The customized versions of the market report contain strategies according to region and country as per the request of the user.
Also Read : https://www.medgadget.com/2020/05/covid-19-impact-on-whole-exome-sequencing-market-2020-global-industry-analysis-by-size-growth-merger-share-trends-competitive-landscape-and-regional-forecast-to-2025.html
Whole Exome Sequencing Market Highlights
Global Whole Exome Sequencing Market is estimated to be valued at USD 2,696.03 Million by 2025 and is expected to register a CAGR of 19.80% during the forecast period.
Whole Exome Sequencing Market Segment Analysis
The 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.
Whole Exome Sequencing Market 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 4,229,662 cases of cancer in Europe. This increasing number of 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 and rising diabetes being the major concern in this region. 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 is driven by increasing obesity issues, rising initiatives by governments to improve patient care, and favorable reimbursement policies.
Whole Exome Sequencing Market Key Players
Market Research Future (MRFR) 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), as the Key Players in the Global Whole Exome Sequencing Market.
Key Findings of the Study
- The Global Whole Exome Sequencing Market is projected to reach over USD 2,696.03 Million by 2025 at a 80% CAGR during the review period of 2019 to 2025.
- The US held a market share of 87.55% in 2019. Initiatives of major players and rising product launches are driving the market growth. For instance, In January 2020, Illumina (US) announced the launch of NextSeq 1000 and NextSeq 2000 Sequencing Systems offering breakthrough system design, chemistry innovations, and on-instrument integrated informatics for rapid secondary analysis.
- Based on product, the kits segment accounted for the largest market share of 60.9% in 2019.
- On the basis of end user, the hospitals & diagnostic laboratory segment accounted for a significant market share of 33.4% in 2018.
- Key manufacturers in the whole exome sequencing market, such as Illumina Inc., Eurofins Scientific, Thermo Fisher Scientific, Agilent Technologies, Inc. are adopting strategies such as geographic expansions, corporate acquisitions, and product launches as growth strategies.