Whole Exome Sequencing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Whole Exome Sequencing Market Analysis

The Whole Exome Sequencing Market size is estimated at USD 1.99 billion in 2024, and is expected to reach USD 4.53 billion by 2029, growing at a CAGR of 17.89% during the forecast period (2024-2029).

Key factors propelling the global whole exome sequencing market include its rising applications in clinical diagnostics, heightened demand for rare disease diagnoses, intensified R&D efforts in genomics and next-generation sequencing, and an increasing appetite for personalized medicine. For example, a March 2022 article in the British Medical Journal highlighted that whole exome sequencing is routinely available for a select group of patients diagnosed with rare childhood genetic diseases. The article further emphasized that next-generation sequencing can rapidly sequence hundreds or even thousands of genes at a significantly reduced cost. Given these advantages, the market for whole exome sequencing is poised for growth in the coming years.

Additionally, whole exome sequencing plays a pivotal role in testing the genomes of viruses linked to diseases like HIV, cancer, and COVID-19. As the prevalence of these diseases rises, so does the demand for whole-exome sequencing. For instance, according to the World Health Organization (WHO) HIV Statistics, around 39.9 million people globally were living with HIV in 2023. Such genomic sequencing methods shed light on genetic variants that may lead to diseases, further amplifying the demand for RNA sequencing.

Moreover, the surge in R&D within genomics and next-generation sequencing is fueling market growth. For instance, in May 2022, NanoString Technologies Inc. unveiled a cloud-based workflow designed to enhance spatial data analysis for users of the Illumina NextSeq 1000, NextSeq 2000 sequencing systems, and the GeoMx Digital Spatial Profiler. This innovation streamlines the spatial analysis of whole transcriptomes in tandem with proteome analytes due to its integrated, user-friendly run planning tool. Such advancements are expected to bolster the market further.

In conclusion, the aforementioned factors indicate a robust growth trajectory for the market. The intricate nature of the technique, a pressing need for skilled professionals, and the legal and ethical dilemmas surrounding whole exome sequencing may restrain the market's expansion.

Whole Exome Sequencing Market Trends

Personalized Medicine Segment is Expected to Witness Significant Growth Over the Forecast Period

Whole Exome Sequencing Industry Segmentation

As per the scope of the report, exome sequencing is a technique for sequencing all the exome and protein-coding genes in a genome. This technique includes the selection of the subset of DNA that encodes proteins or exons, followed by sequencing of the exonic DNA using high-throughput DNA sequencing methods. It also provides a cost-effective screening approach for the diagnosis of genetic disorders. It presents itself as a less resource-intensive alternative to whole-genome sequencing in several applications, including drug discovery and development processes.

The whole exome sequencing market is segmented by product type, technology, application, and geography. By product type, the market is segmented into systems, kits, and services. By technology, the market is segmented into second-generation sequencing and third-generation sequencing. By second-generation sequencing, the market is segmented into sequencing, by synthesis (SBS) and sequencing, by hybridization and ligation (SBL). By application, the market is segmented into diagnostics, drug discovery and development, personalized medicine, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report offers the value (USD) for the above segments.