Worldwide Whole Exome Sequencing Market 2023 Report: Rising Prevalence of Genetic Diseases Drives Adoption of Whole Exome Sequencing for Diagnosis and Treatment

DUBLIN, Sept. 14, 2023 /PRNewswire/ -- The "Whole Exome Sequencing Market Size, Share & Trends Analysis Report By Product (Instruments, Consumables, Services), By Technology, By Workflow, By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to  ResearchAndMarkets.com's offering.

The global whole exome sequencing market is expected to reach USD 1.27 billion by 2030, with a projected CAGR of 17.48% over the forecast period. This growth is driven by several key factors, including technological advancements in whole exome sequencing, the rising prevalence of genetic conditions, and the availability of data analysis and interpretation software. Here are the key highlights from the report:

Market Drivers:

1. Technological Advancements: Advances in high-throughput technology for whole exome sequencing have made it more accessible for clinical diagnostics and research. These technologies aid in understanding exome sequence disorders, enabling more precise treatments.

2. Rising Prevalence of Genetic Conditions: The increasing incidence of genetic diseases has led to a growing adoption of whole exome sequencing. It offers a comprehensive view of protein-coding regions and provides valuable insights into genetic variants.

3. Data Analysis and Interpretation Software: The availability of sophisticated software tools for data analysis and interpretation has facilitated the examination of genetic data. These tools provide fresh insights into the causes of genetic abnormalities and diseases.

4. Impact of COVID-19: The COVID-19 pandemic has highlighted the potential of whole exome sequencing in understanding infectious diseases. Initiatives like the COVID-19 Genomics UK Consortium have demonstrated the value of exome sequencing in studying viruses.

Market Segmentations:

• Product: Consumables (62.91% market share), Instruments, Services.
• Technology: Sequencing by Synthesis (73.50% market share), ION Semiconductor Sequencing, Others.
• Workflow: Sequencing (49.94% market share), Pre-Sequencing, Data Analysis.
• Application: Drug Discovery & Development (48.18% market share), Clinical Diagnostics, Personalized Medicines, Others.
• End-Use: Academic & Research Institutes (47.32% market share), Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Others.

Regional Insights:

North America holds a strong position in the market, with a 50.52% share in 2022. This is due to its highly developed healthcare infrastructure and favorable government policies.

Key Companies:

• Thermo Fisher Scientific, Inc.
• Illumina, Inc.
• Agilent Technologies, Inc
• BGI
• PacBio
• Oxford Nanopore Technologies plc.
• Azenta US Inc. (GENEWIZ)
• CD Genomics
• Novogene Co, Ltd
• Eurofins Genomics

These companies are actively involved in innovations and collaborations to drive the market's growth.

The whole exome sequencing market is expected to continue to develop in the coming years, despite challenges brought about by the COVID-19 pandemic in 2020.

For more information about this report visit https://www.researchandmarkets.com/r/ogortx

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SOURCE Research and Markets