Global Whole Genome Sequencing Market is valued approximately at USD 1,642 million in 2022 and is anticipated to grow with a healthy growth rate of more than 20.6% over the forecast period 2023-2030. Whole Genome Sequencing (WGS) is a method that involves determining the entire DNA sequence of an organism’s genome, encompassing chromosomal DNA, mitochondrial DNA, and chloroplast DNA in plants. Genomic data obtained through WGS aids in the identification of genetic disorders, monitoring disease outbreaks, and understanding variations that influence the progression of cancer. Additionally, WGS can be employed to detect diseases in newborns and children, study uncommon tumor types, analyze familial disease patterns, and facilitate drug trials, among other applications. The driving factors that are boosting the market growth are growing prevalence of genetic disorders, rise in funding received by government organizations and the increasing demand to identify treatable genetic disorders.
According to the Centers for Disease Control and Prevention Statistics, approximately 1 in every 707 newborn children in U.S. is affected by Down syndrome, resulting in an estimated total of 5,568 children with the condition. The funding received by the government is also a major driving factor. In March 2022, the U.K. Government initiated the COVID-19 Genomics U.K. Consortium, an alliance aimed at sequencing the genomes of the SARS-CoV-2 virus, comprising the NHS, Wellcome Sanger Institute, Public Health Agencies, and academic institutions. With an investment of around USD 22 million (EUR 20 million), the consortium is focused on mapping the virus’s genetic information. Moreover, the development of low-cost method for whole genome sequencing and the increasing demand for Biomarker Discovery that could show a disease conditions may create lucrative opportunities for the market. However, the high cost of sequencing procedures stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Whole Genome Sequencing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the well-developed research and development infrastructure and growing government funding which is influencing the rising whole genome sequencing research activity in the region. The presence of prominent industry players such as Illumina, Inc., known for their robust research and development capabilities and manufacturing facilities in the region is also anticipated to drive the regional market growth. However, Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as increasing R&D investment and government initiatives supporting private companies engaged in whole genome sequencing. For instance, in February 2022, the Government of India authorized five laboratories to conduct whole genome sequencing specifically for detecting the SARS-CoV-2 virus.
Major market player included in this report are:
Pacific Bioscience of California, Inc.
Oxford Nanopore Technologies
Thermo Fisher Scientific, Inc.
F. Hoffman-La Roche Ltd
Eurofins Scientific Societe Europeenne
Recent Developments in the Market:
Ø In January 2023, PacBio collaborated with the University of Tokyo, Graduate School of Medicine to study rare diseases in the Japanese population using long-read sequencing and novel bioinformatics methods.
Ø In September 2022, Eurofins partnered with Ginkgo Bioworks to expand their COVID-19 response by implementing wastewater testing for a traveler-focused SARS-CoV-2 genomic surveillance program at U.S. airports.
Global Whole Genome Sequencing Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Type, Workflow, Application, End-Use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Large Whole Genome Sequencing
Small Whole Genome Sequencing
Human Whole Genome Sequencing
Plant Whole Genome Sequencing
Animal Whole Genome Sequencing
Microbial Whole Genome Sequencing
Academic & Research Institutes
Hospitals & Clinics
Pharmaceutical & Biotechnology Companies
Middle East & Africa
Rest of Middle East & Africa