Whole Exome Sequencing Market Future Trends and Scope Analysis Report 2023-2030

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Whole Exome Sequencing Market Size, Share & Trends Analysis Report By Product (Instruments, Consumables, Services), By Technology (synthesis, ion semiconductor sequencing), By Workflow (pre-sequencing, sequencing and data analysis), By Application (Clinical Diagnostics, Drug Discovery & Development, Personalized Medicine), By End-User (Academic & Research Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies)- Market Outlook And Industry Analysis 2031″

The Global Whole Exome Sequencing Market is estimated to reach over USD 7.30 billion by 2031, exhibiting a CAGR of 20.7% during the forecast period. 

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A genome’s whole-exome and protein-coding genes can be sequenced using the exome sequencing technique. Using high-throughput DNA sequencing techniques, the exonic DNA is sequenced after the DNA segments that code for proteins or exons have been chosen. Miller Syndrome and Alzheimer’s disease are two illnesses caused by genetic changes that can be found using the exome sequencing approach.

The main factors propelling the global whole exome sequencing market are the desire to identify uncommon diseases, the expansion of genomics and next-generation sequencing R&D, and the demand for personalized medication.

Global market revenue growth will continue to be fueled by increasing funding in research-based projects, expanding alliances among top companies and research institutions for drug discovery, and a growing preference for next-generation sequencing techniques for diagnosing, treating, and monitoring chronic diseases.

New exome sequencing kits, software, and systems are projected to be available over the projection period, and ongoing research on rare illnesses is another factor that will support global market expansion. Additionally, the market’s expansion is supported by whole-exome sequencing technology’s low cost and quick speed, technological advances in whole-exome sequencing methodology, and strategic alliances among major research institutes worldwide.

List of Prominent Players in the Whole Exome Sequencing Market:

• Thermo Fisher Scientific, Inc
• Illumina, Inc.
• Agilent Technologies, Inc
• BGI
• Psomagen
• Hoffmann-La Roche Ltd
• Azenta US Inc. (GENEWIZ)
• CD Genomics
• Novogene Co, Ltd
• Eurofins Genomics.

Market Dynamics:

Drivers-

The primary reasons propelling the worldwide Whole Exome Sequencing Market are the growing applications in clinical diagnostics, increased demand for the detection of uncommon diseases, expanding genomics R&D, next-generation sequencing, and rising need for personalized medicine. The acceptance of next-generation sequencing methods for the diagnosis, prognosis, therapy, and follow-up of numerous chronic diseases, including cancer, is expanding, driving the industry. The acceptance of next-generation sequencing methods for the diagnosis, prognosis, therapy, and follow-up of numerous chronic diseases, including cancer, is expanding, driving the industry.

Challenges:

A lack of qualified professionals, high investment costs, and ethical and legal questions concerning the market’s practices and results in various countries are some of the market’s challenges. High reliance on government funding is a couple of the issues restricting the growth of the total exome sequencing sector.

Regional Trends:

The North America whole exome sequencing market position is predicted to record a major market share in revenue and is projected to rise at a high CAGR shortly. The main drivers of the growth of the whole-exome sequencing market are the rising prevalence of hereditary and chronic diseases, such as cancer, the increasing demand for personalized and customized medication, and supportive government initiatives. Besides, Asia Pacific had a substantial market

share due to the augmented healthcare spending and the increasing prevalence of chronic diseases like diabetes, HIV, and neurological disorders. Favorable government measures for adopting and advancing whole-exome sequencing technology will also boost regional expansion.

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Recent Developments:

• In February 2023: According to Illumina Inc., the Broad Institute has just received the company’s first NovaSeqX Plus machine. The platform will assist parties wishing to access the company’s human whole genome product, blended genome/exome product, and sequencing service.
• In May 2022: Thermo Fisher Scientific and The Qatar Genome Programme (QGP), a Qatar Foundation (QF) division, partnered to advance genomic research and clinical applications of predictive genomics in Qatar as a step towards expanding the advantages of precision medicine to Arab populations.

Segmentation of Whole Exome Sequencing Market-

By Product

• Instruments
• Consumables
• Services

By Technology

• Sequencing by Synthesis
• ION Semiconductor Sequencing
• Others

By Workflow

• Pre-sequencing
• Sequencing
• Data Analysis

By Application

• Clinical Diagnostics
• Drug Discovery & Development
• Personalized Medicine
• Others

By End-use

• Academic & Research Institutes
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Others

By Region-

North America-

• The US
• Canada
• Mexico

Europe-

• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-

• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-

• Brazil
• Argentina
• Rest of Latin America

 Middle East & Africa-

• GCC Countries
• South Africa
• Rest of Middle East and Africa

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