The Global Whole Exome Sequencing Market is expected to reach USD 525.74 million by 2027, growing from USD 219.89 million in 2019, delivering a CAGR of 11.6% through the forecast period. The increasing utilization of whole exome sequencing in clinical diagnostics is the key driving force behind the growth of the market.
This technique enables the identification of the underlying genetic causes of various diseases, making it particularly suitable for managing complex conditions such as autism spectrum disorder, neuropathy, epilepsy, and other genetic disorders. Whole exome sequencing is extensively used in clinical settings because it can identify disease-causing mutations or variants in exon regions. Additionally, the market for personalized medicine is expected to reach a value of USD 131.70 billion by 2027, creating lucrative growth opportunities for the whole exome sequencing market.
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The growth in the market is also attributed to the increasing prevalence of chronic diseases and growing focus on developing a treatment for unmet medical conditions. However, legal issues linked with the whole exome sequencing technique and lack of skilled professionals may hamper industry growth.
Based on product type, the kits segment is anticipated to contribute significantly towards the whole exome sequencing market share, delivering the highest growth rate through 2027. The growth can be attributed to the frequent use of kits in various research processes and a large number of manufacturers involved in product development, including Illumina, Thermo Fisher Scientific, and others.
In the regional landscape, North America dominates the whole exome sequencing market share and is anticipated to exhibit a notable CAGR through 2027 due to the growing prevalence of chronic diseases like cancer, diabetes, HIV, neurological disorders, along with the rise in overall healthcare expenditure. Europe is estimated to be a major regional ground for the whole exome sequencing market revenue share through 2027 due to a rise in the number of cancer cases and a rise in genome mapping programs.
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Some of the major players dominating the global whole exome sequencing market are BGI, Ambry Genetics, Eurofins Genomics Inc., Life Technologies, Illumina, Inc., and GENEWIZ, Inc. These industry players are adopting several strategies such as acquisitions, mergers, collaborations, new product development, and capacity expansion, thereby supporting the overall growth of the market. Moreover, rising investments by the key industry players for the R&D activities will further bolster the whole exome sequencing market growth over the analysis period.
This report forecasts revenue growth at the global, regional, and country-level and provides an analysis of the industry trends in each of the sub-segments from 2017 to 2027. For the purpose of this study, the whole exome sequencing market is segmented on the basis of product type, technology, application, end-user, and region.
The report states that the Kits segment is anticipated to contribute significantly to the whole exome sequencing market share, delivering the highest growth rate through 2027. The growth can be attributed to the frequent use of kits in various research processes and a large number of manufacturers involved in product development, including Illumina, Thermo Fisher Scientific, and others.
The report also identifies that North America dominates the whole exome sequencing market share and is anticipated to exhibit a notable CAGR through 2027. This growth is due to the growing prevalence of chronic diseases like cancer, diabetes, HIV, neurological disorders, along with the rise in overall healthcare expenditure. Europe is estimated to be a major regional ground for the whole exome sequencing market revenue share through 2027 due to a rise in the number of cancer cases and a rise in genome mapping programs.
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