Global Whole Exome Sequencing [WES] Market - 2022-2029

Market Overview

Whole Exome Sequencing [WES] Market is expected to grow at a CAGR of 18.6% during the forecasting period (2022-2029).

Whole exome sequencing is a commonly used next-generation sequencing (NGS) procedure that involves sequencing protein-coding regions of the genome. The human exome represents less than 2% of the genome but contains about 85% known disease-related variants, making this method a cost-effective alternative to whole-genome sequencing. Exome sequencing is widely used to identify and determine genetic variants causing various diseases, such as Miller syndrome and Alzheimer's disease. It also provides a cost-effective screening approach for the diagnosis of genetic disorders. It presents a less resource-intensive alternative to whole-genome sequencing in several applications, including drug discovery and development.

Market Dynamics

The global whole exome sequencing [WES] market growth is driven by several factors, such as increasing demand for the diagnosis of rare diseases, rising research and development in the genomics and next-generation sequencing field, and growing demand for personalized medicine.

The increasing adoption of Whole Exome Sequencing [WES] propels the global market growth.

The rising adoption of next-generation sequencing methods for predicting, treating, and monitoring various chronic diseases, such as cancer, is boosting the market's growth globally. Sequencing the cancer exome provides valuable information about the coding mutations contributing to tumor progression. As the exome represents less than 2% of the genome, cancer exome sequencing is a cost-effective alternative to whole-genome sequencing. Exome sequencing also produces a more convenient data set compared to whole-genome approaches. In addition, the low cost and high speed associated with whole-exome sequencing technology, technological advancements in whole-exome sequencing techniques, and strategic alliances among leading research institutes globally, are also driving the growth of the whole-exome sequencing market. For instance, In May 2021, Baylor Genetics introduced Rapid Trio Whole Exome Sequencing, reducing its turnaround time from seven to five days. Moreover, according to the New York University research, Whole Exome Sequencing Predicts Whether Patients Respond to Cancer Immunotherapy.

The lack of skilled personnel and deprived government support are hurdles to the global Whole Exome Sequencing [WES] market growth.

However, the lack of skilled professionals and high dependability on government grants are restraining the growth of the whole-exome sequencing market.

Industry analysis.

The global whole exome sequencing [WES] market report will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, innovations, new product launches, pricing analysis, Etc.

COVID-19 Impact Analysis

COVID-19 has provided the Whole Exome Sequencing [WES] market with emerging opportunities. For instance, COVID-19 has encouraged us to practice the new reality of digital care. During the pandemic, it was revealed that there is an urgency for virtual care interventions to reduce the interruptions to a minimum and to minimize compromised access to healthcare, which caused increased focus on the sequencing methods for identification of relationships between particular genotypes with the risk of infection. Furthermore, post-pandemic, there is a rise in funding for digital healthcare solutions, positively impacting the global Whole Exome Sequencing [WES] market growth.

Segment Analysis

The Whole Exome Sequencing [WES] application in personalized medicine is predicted to have the largest global market share during the forecast period (2022-2029).

Personalized medicine is expected to grow at the highest rate during the forecast period (2022-2029). Since it aims to provide tailor-made therapies to individual patients, depending on the molecular basis of the disease, it has become popular over recent years. The rising demand for personalized medicine has created tremendous opportunities in genetic medicine. To exploit these opportunities, novel diagnostic and therapeutic technologies must be developed, resulting in the rapid expansion of the global whole exome sequencing market. Growing research & development in precise detection and diagnosis of the disease is expected to minimize the cost of treating chronic conditions. Advancements in whole genome sequencing and molecular diagnostics have given health sciences a better understanding of the precise nature of diseases and pathways to develop personalized treatments.

Geographical Analysis

The North American region commands the global Whole Exome Sequencing [WES] market during the forecast period (2022-2029).

North America is dominating the global whole exome sequencing [WES] market, accounting for the largest market share in 2021. Because of the increasing prevalence of genetic and chronic disorders, such as Cancer, the aging population, increasing demand for targeted and personalized medicine, advanced technological healthcare framework, and favorable government initiatives. For instance, the American Hospital Association estimated that by 2030 around 170 million Americans will be suffering from at least one chronic disease. Furthermore, Cancer is second among the leading cause of death in the U.S. Every year in the United States, over 1.6 million people are diagnosed with Cancer, and nearly 600,000 die from it, making it the second leading cause of death. In addition, rising research activities and investment is estimated to drive industry size in the coming years. Investments in medical health R&D are on a surge, with an 11.1% growth in spending registered between 2019 to 2020. Moreover, United States (U.S.) medical and health research and development (R&D) investment reached $245.1 billion in 2020.

Competitive Landscape

The global whole exome sequencing market is highly competitive with many players. Some of the major players in the market are Illumina Inc., Bio-Rad Laboratories Inc., Agilent Technologies Inc., Macrogen Inc., Beijing Genomics Institute, Ambry Genetics Corp., Eurofins Scientific Group, F. Hoffmann-La Roche AG, GENEWIZ Inc., Pacific Biosciences of California Inc., among others. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the growth of the Whole Exome Sequencing [WES] market globally. For instance, on 5 May 2022, Illumina partnered with Deerfield Management to accelerate drug development. Also, on August 03, 2022, Bio-Rad Acquired Curiosity Diagnostics.

Agilent Technologies, Inc.

Overview:

Agilent Technologies, Inc. is a leading life sciences company that provides instruments, software, services, and consumables for laboratory workflow. Agilent was established in 1999 and is headquartered in Santa Clara, California, United States.

Product Portfolio:

Agilent Technologies, Inc.'s product portfolio for Whole Exome Sequencing [WES] has a SureSelect Human All Exon V8, SureSelect Focused Exome, SureSelect Clinical Research Exome V2 and SureSelect non-human Exomes.

The global whole exome sequencing [WES] market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.