RISE IN PREVALENCE OF CANCER AND SINGLE-GENE DISEASES IS PROJECTED TO FAVOR THE WHOLE EXOME SEQUENCING MARKET GROWTH

Whole Exome Sequencing Market Size, Share, Trends, Growth, Analysis, Research

Global Whole Exome Sequencing Market: Key Highlights

  • According to the new market research report Whole Exome Sequencing Market by Type (Product and Service), by application (Clinical Diagnostic, Drug Discovery and Academic Research), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2019 to 2027)”, the global whole exome sequencing market is predicted to witness significant growth with CAGR of over 15% and reach USD 3,963.14 Million by 2027.
  • Exome sequencing is referred to as the subset of whole genome sequencing specifically targeting the protein coding region (exon) of the genome.

Whole Exome Sequencing Market

Global Whole Exome Sequencing Market: Key Market Dynamics

  • Rising incidences of chronic diseases such as monogenic diseases and cancer is driving demand for whole exome sequencing
  • Exome sequencing is used for specific sequencing of exon portion of genomes, reducing the overall cost, which is projected to push the market growth
  • Higher dependency on approval from regulatory authority along with lack of skilled laboratory professional hinders the growth of whole exome sequencing market
  • Growing funding in next generation sequencing and exome sequencing projects is expected to foster the market growth in the forecast timespan
  • Technical and implementation challenges associated with the whole exome sequencing acts as key challenge for the market growth

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Global Whole Exome Sequencing Market: Regional Overview

  • North America

North America is expected to witness remarkable growth owing to favorable support from the government to promote next-generation sequencing. In 2019, the National Institute of Health approved a funding of USD 7 million for one year dedicated for DNA sequencing technologies in order to improve disease diagnosis and treatment. In addition to this, growing prevalence of cancer in the region, is promoting the demand for next-generation DNA sequencing methods for rapid and accurate cancer diagnosis.

  • Europe

In Europe, the whole exome sequencing market is growing on the grounds of rise in adoption of genomic sequencing for precision medicine. Rising count of geriatric population, increasing prevalence of chronic medical conditions including genetic diseases and cancer, is driving the market growth. In 2018, approximately 3.91 million new cancer cases were diagnosed in Europe accounting for 1.93 million deaths from the disease, as stated by European Network of Cancer Registries (ENCR) and the European Commission's Joint Research Centre (JRC)

Global Whole Exome Sequencing Market: Key Players Overview

  • Illumina Inc.:

Illumina Inc. is a biotechnology company that operates globally through designing, manufacturing and commercialization of products and solutions in genetic research. The company offers a range of products such as sequencing instruments, microarray scanners, library preparation kits, sequencing reagents, microarray kits and software and services for genetic research. In May 2017, the company signed an agreement with Integrated DNA Technologies, Inc. to offer library preparation multiplexing and target enrichment solutions. The agreement includes co-marketing of complete workflow for exome capture through coupling of Illumina’s TruSeq & Nextera library prep kits with IDT’s xGen Exome Research Panel.

PerkinElmer, Inc. is engaged in providing technology, services, and solution globally. The company manufactures and markets consumables, accessories, informatics, reagents., instruments, software mostly for diagnostics, microbial analysis, and life science research. It provides Whole Exome Sequencing (WES) tests with better coverage of region with disease causing genes. In April 2018, PerkinElmer, Inc. partnered with personal genomics company, Helix for development and marketing of whole exome sequencing-based tests to promote better health management decision.

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Rep Id : HC 09

Published : 2020-03-11

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