(MENAFN- GlobeNewsWire - Nasdaq) Dublin, March 17, 2023 (GLOBE NEWSWIRE) -- The 'whole genome sequencing market size, share & trends analysis report by product (instruments, consumables, services), by type, 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 genome sequencing market size is projected to reach USD 6.67 billion by 2030, expanding at a CAGR of 20.06% from 2023 to 2030.
The market growth can be attributed to the rising adoption of whole genome sequencing for genome mapping programs and the increasing prevalence of inherited disorders, including rare genetic disorders. According to the study published in the New England Journal of Medicine in November 2021, whole genome sequencing could lead to the early diagnosis of a wide range of rare diseases and a reported transition to precision medicine.
Furthermore, the growing investment in R&D for the early detection and treatment of disorders with the aid of WGS is expected to propel the growth of the market. For instance, in February 2023, the government of Indonesia and the Genome Science Initiative, with the aid of a USD 30 million investment from the Global Fund, established a network of facilities to perform the method for the early detection and treatment of disorders, including COVID-19, tuberculosis, cancer, genetic disorders, brain diseases, and metabolic disorders.
Whole genome sequencing has a wide range of applications, and government bodies are adopting these technologies for sequencing the genomes of humans, plant, animal, and microbes, which is expected to drive market growth. For instance, U.S. Food & Drug Administration (FDA) adopted the method to identify foodborne pathogens during foodborne disease outbreaks across the countries. The FDA has adopted this technology since 2008 under the Whole Genome Sequencing (WGS) program as it enables it to distinguish all strains of foodborne pathogens more efficiently than pulse-field gel electrophoresis (PFGE).
The rising technological advancements have led to the launch of innovative whole genome sequencing products that offer an affordable, accurate, and timely diagnosis of various diseases and infections. This is contributing to the growth of the market. For instance, in December 2022, LifeCell International Pvt. Ltd. collaborated with HaystackAnalytics to launch TB, a whole genome sequencing test to identify the diagnostic information on tuberculosis infections and tackle the drug resistance challenge.
The COVID-19 pandemic led to an increased demand for the method globally, which enabled the rapid identification of SARS-CoV-2 and the development of possible diagnostic tests to manage the outbreak. Hence, governments across the globe collaborated with research organizations and the corporate sector to use the method to identify and diagnose SARS-CoV-2. Several companies have launched genomic services and rapid solutions for the surveillance of the SARS-CoV-2 virus. For instance, QIAGEN offers the whole genome sequencing services SARS-CoV-2 surveillance for the identification of potent mutants, tracing of possible outbreaks, and advancement of vaccine research and drug development.
Market Dynamics
Market Drivers
Rising Prevalence of Inherited Disorders Decreasing Costs for Genetic Sequencing Rising Demand for Whole Genome Sequencing for Genome Mapping Programs
Market Restraints
Ethical and Legal Challenges Associated With Genomic Sequencing
Whole Genome Sequencing Market Report Highlights
Consumables segment held the largest share of 61.56% in 2022, owing to the availability of a wide range of consumables and increased adoption of these products due to the shorter duration of use of these products By type, the large whole genome sequencing segment accounted for the largest share of 77.32% in the whole genome sequencing market in 2022. This can be attributed to the growing applications for analyzing cancerous tumors and identifying genetic variations in rare diseases By workflow, the sequencing segment held the largest market share of 52.12% in 2022, owing to the growing involvement of major companies and the launch of novel products to boost the adoption of the process By application, the human whole genome sequencing segment dominated the market in 2022 with a share of 62.91%. This can be attributed to the growing prevalence of rare inherited disorders and growing investment in R&D for the method to identify possible causative agents of these disorders By end-use, the academic & research institutes segment dominated the global market with the largest share of 48.72%. The large share of the segment can be attributed to the growing demand for high-throughput technologies at these facilities to conduct comprehensive research in this field North America held the largest market share of 51.34% in 2022. The large share can be attributed to the presence of a well-established healthcare system and pharmaceutical industry in the region, which has created a significant demand for whole genome sequencing for clinical and research purposes
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, & Scope
Chapter 4. Whole Genome Sequencing Market: Product Business Analysis
4.1. Whole Genome Sequencing Market: Product Market Share Analysis
4.2. Whole Genome Sequencing Market Estimates & Forecast, By Product (USD Million)
4.3. Instruments
4.4. Consumables
4.5. Services
Chapter 5. Whole Genome Sequencing Market: Type Business Analysis
5.1. Whole Genome Sequencing Market: Type Market Share Analysis
5.2. Whole Genome Sequencing Market Estimates & Forecast, By Type (USD Million)
5.3. Large Whole Genome Sequencing
5.4. Small Whole Genome Sequencing
Chapter 6. Whole Genome Sequencing Market: Workflow Business Analysis
6.1. Whole Genome Sequencing Market: Workflow Market Share Analysis
6.2. Whole Genome Sequencing Market Estimates & Forecast, By Workflow (USD Million)
6.3. Pre-Sequencing
6.4. Sequencing
6.5. Data Analysis
Chapter 7. Whole Genome Sequencing Market: Application Business Analysis
7.1. Whole Genome Sequencing Market: Application Market Share Analysis
7.2. Whole Genome Sequencing Market Estimates & Forecast, By Application (USD Million)
7.3. Human Whole Genome Sequencing
7.4. Plant Whole Exome Sequencing
7.5. Animal Whole Exome Sequencing
7.6. Microbial Whole Exome Sequencing
Chapter 8. Whole Genome Sequencing Market: End-Use Business Analysis
8.1. Whole Genome Sequencing Market: End-Use Market Share Analysis
8.2. Whole Genome Sequencing Market Estimates & Forecast, By End-Use (USD Million)
8.3. Academic & Research Institutes
8.4. Hospitals & Clinics
8.5. Pharmaceutical & Biotechnology Companies
8.6. Others
Chapter 9. Whole Genome Sequencing Market: Regional Business Analysis
Chapter 10. Competitive Landscape
Companies Mentioned
Illumina, Inc. Thermo Fisher Scientific, Inc. Oxford Nanopore Technologies Pacific Biosciences of California, Inc. BGI QIAGEN Agilent Technologies ProPhase Labs, Inc. (Nebula Genomics) Psomagen Azenta US, Inc. (GENEWIZ)
For more information about this report visit
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Tags genetic disorder genome genome sequencing genomic sequencing genomics precision medicine whole genome sequencing