Whole Exome Sequencing Global Market Report 2023
Major players in the whole exome sequencing market are Thermo Fisher Scientific Inc., Illumina Inc., Eurofins Genomics, Azenta US Inc., CD Genomics, Psomagen Inc., Agilent Technologies, BGI Genomics, F.
New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Whole Exome Sequencing Global Market Report 2023" - https://www.reportlinker.com/p06486536/?utm_source=GNW
Hoffmann-La Roche Ltd., Qiagen Inc., Macrogen Inc., Ambry Genetics, Bio-Rad Laboratories Inc., Bioneer Corporation, and Foundation Medicine Inc.,.
The global whole exome sequencing market is expected to grow from $1.95 billion in 2022 to $2.34 billion in 2023 at a compound annual growth rate (CAGR) of 20.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The whole exome sequencing market is expected to reach $4.84 billion in 2027 at a CAGR of 20.0%.
The whole exome sequencing market consists of revenues earned by entities by providing services such as exome capture, library construction, deep sequencing, raw data quality control, and bioinformatics analysis.The market value includes the value of related goods sold by the service provider or included within the service offering.
The whole exome sequencing market also includes sales of instruments, comparison tools, and sequencing reagents which are used in providing whole exome sequencing services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods
Whole exome sequencing refers to a genomic sequencing technique in which all of the protein-coding regions in a genome are sequenced. It is used in the laboratory to identify the mutations that may be responsible for a specific disease.
North America was the largest region in the whole exome sequencing market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the whole exome sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa
The main products of whole exome sequencing are systems, kits, and services.The system refers to the examination of how biological elements such as molecules, cells, and organs interact and behave.
The various technologies used are sequencing by synthesis, ion semiconductor sequencing, and others that are used for diagnostics, drug discovery and development, personalized medicine, agriculture, and animal research applications by hospitals and clinics, pharmaceutical and biotechnology companies, academic and research institutes, clinical laboratories, and others.
Increasing HIV (human immunodeficiency virus) prevalence is expected to propel the growth of the whole exome sequencing market going forward.HIV refers to a virus that targets the immune system of the body.
Whole exome sequencing is used to provide genomic structures of viruses that are useful for personalized treatment and vaccine designs for HIV. For instance, in April 2023, according to the World Health Organization, a Switzerland-based United Nations agency, HIV remains a major global public health issue, with 38.4 million patients globally in 2021 and 650 000 deaths from HIV-related causes. Therefore, the increasing HIV prevalence is driving the growth of the whole exome sequencing market.
Innovative diagnostic techniques are a key trend gaining popularity in the whole exome sequencing market.Companies operating in the whole exome sequencing market are working on new product innovations to sustain their position in the market.
For instance, in February 2023, Illumina Inc., a US-based biotechnology company launched NovaSeqX Plus, the most powerful sequencing technology, delivering an unprecedented combination of high throughput and accuracy and featuring streamlined informatics, sustainability advancements, and economical sequencing. The innovations built into the NovaSeq X Plus systems have the power to generate tens of thousands of whole genomes per year, maximize productivity, and minimize turnaround time.
In January 2022, Exact Sciences, a US-based molecular diagnostics company, acquired Prevention Genetics for a deal value of $190 million.The acquisition helped Exact Sciences develop and strengthen its advanced cancer testing portfolio.
Prevention Genetics is a US-based clinical DNA testing laboratory that provides high-quality genetic testing and services to patients and researchers.
The countries covered in the whole exome sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The whole exome sequencing market research report is one of a series of new reports that provides whole exome sequencing market statistics, including the whole exome sequencing industry global market size, regional shares, competitors with a whole exome sequencing market share, detailed whole exome sequencing market segments, market trends, and opportunities, and any further data you may need to thrive in the whole exome sequencing industry. This whole exome sequencing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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