Whole Genome Sequencing Market

Whole Genome Sequencing Market Size

Whole Genome Sequencing (WGS) Market size was valued to be USD 5.5 billion in 2022 and is expected to reach USD 30.1 billion in 2032 with a CAGR of 18.7% from 2023 to 2032. The market is largely driven increasing prevalence of genetic disorders is contributing to the expansion of market.

For instance, according to the Centers for Disease Control and Prevention statistics, around 1 in every 707 newborn children in the U.S. suffer from down syndrome, which accounts for approximately 5,568 children in the U.S. alone Therefore, whole genome sequencing is widely used for the early detection of genetic diseases. Thus, WGS plays a vital role in identifying the most effective treatment options for individual cancer patients, thereby driving the market’s expansion.

Whole genome sequencing (WGS) is a laboratory procedure that determines the order of bases in the genome of an organism in one process. It is a comprehensive method for analysing entire genomes and is used to obtain detailed information about bacteria, plants, and mammals using just one test. They can detect single nucleotide variants, insertions/deletions, copy number changes, and large structural variants.

COVID-19 Impact

The COVID-19 pandemic positively impacted the global whole genome sequencing market in 2020, as whole genome sequencing was widely used for the early detection of the virus and identification of mutations in the virus. The emergence of the virus led to an urgent need for understanding its genetic makeup. Globally, scientists quickly sequenced the virus's genome, allowing researchers to track its mutations and understand how the virus was spreading. This rapid sequencing helped in the development of diagnostic tests and vaccines. Thus, owing to such aforementioned factors, the market had a positive impact during the pandemic.

Whole Genome Sequencing Market Trend

• The increasing incidence of cancer is a significant driver influencing the market progress. Cancer has emerged as a global health challenge, with a steadily increasing burden of new cancer cases reported each year. For instance, according to the American Cancer Society, around 1.9 million new cancer cases are expected to be diagnosed in the U.S. alone in 2023, and approximately 609,820 cancer-related fatalities, which is about 1,670 deaths per day. Thus, usage of whole genome sequencing enables the identification of genetic mutations associated with an increased risk of developing certain types of cancer.
  
• Also, by studying the genomic data of individuals with a family history of cancer or those diagnosed at a young age, researchers can identify cancer susceptibility genes. This information is crucial for understanding cancer diagnostics, and implementing preventive measures or treatment regimes. Furthermore, the pharmaceutical companies also rely on genomic information to develop and test oncology drugs, leading to an increasing demand for whole genome sequencing.
  

Whole Genome Sequencing Market Analysis

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Based on the products & services, the global market is segmented into instruments, consumables, and services. The consumables segment accounted for majority revenue share in 2022 and is expected to reach USD 18.1 billion by 2032.

• This leading market share is due to the use of consumables in large quantities in every step of the sequencing process. Whether it's sample preparation, DNA extraction, amplification, or sequencing reactions, these consumables are essential, leading to significant sales volumes.
  
• Further, consumables are widely utilized in each sequencing run and each application might require specific consumables tailored to its needs. Therefore, laboratories and research institutions engaged in genomic research and diagnostics must continuously purchase these consumables to sustain their operations.
  
• Thus, this frequent repurchasing pattern ensures a steady revenue stream for companies commercializing these products, thereby contributing to the high segment demand.

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Based on the type, the global whole genome sequencing market is classified into large whole genome sequencing and small whole genome sequencing. The large whole genome sequencing segment dominated the market with 63.2% revenue share in 2022. There is a growing focus on large whole genome sequencing technologies which aim to sequence the genomes of thousands or even millions of individuals. This contributes to population genomics research, allowing scientists to study genetic variations on a large scale and understand the genetic basis of diseases across different populations.

• Further, studying the genomes of large populations helps researchers understand genetic variations within and between populations. This knowledge is crucial for investigating and tracking population migrations and understanding human evolution.
  
• Moreover, various government initiatives, research organizations, and pharmaceutical companies invest in large-scale genomic research projects to identify potential drug targets and improve healthcare outcomes. Thus, all these factors will help to boost the growth of this segment.
  

Based on the technology, the whole genome sequencing market is classified into sanger sequencing, polymerase chain reaction, microarray, next generation sequencing and other technologies. The next generation sequencing segment dominated the market with 42.6% revenue share in 2022.

• There is a growing focus on Next-generation sequencing (NGS) technologies leading to their widespread adoption and prominence in genomic research and clinical applications. It can sequence millions of DNA fragments simultaneously. This high throughput significantly accelerates the sequencing process, enabling the rapid analysis of large genomes and multiple samples in a relatively short time.
  
• Also, high throughput is crucial for large-scale genomics projects, as these technologies drastically reduce the cost per base pair of sequencing compared to earlier methods. This cost-effectiveness makes genomic sequencing more accessible, allowing researchers and clinicians to conduct extensive sequencing projects within budget constraints.
  

Based on the application, the whole genome sequencing market is fragmented into diagnostics, drug discovery & development, precision medicine and other applications. In 2022, the drug discovery & development segment reached a market revenue of USD 1.9 billion. As identifying genes associated with diseases is a fundamental step in drug discovery, WGS helps researchers to identify disease-related genetic variations, mutations, and pathways, providing potential drug targets. Also, understanding the genetic basis of diseases facilitates the identification and validation of drug targets, guiding researchers toward proteins or pathways that can be modulated for therapeutic benefit.

Based on the end-user, the whole genome sequencing market is divided into hospitals & clinics, academic institutes & research centers, pharmaceutical & biotechnology companies, and other end-users. The academic and research institutes segment is expected to reach USD 12.4 billion by 2032. Academic and research institutes that offer whole genome sequencing services have several advantages, including:

• Whole genome sequencing delivers a comprehensive view of the entire genome, unlike focused approaches such as exome sequencing or targeted resequencing, which analyze a limited portion of the genome. This makes it ideal for discovery applications, such as identifying causative variants and novel genome assembly.
  
• Further, whole genome sequencing provides a high-resolution, base-by-base view of the genome, capturing both large and small variants that might be missed by other sequencing methods. Therefore, utilization of WGS in such institute will significantly contribute to the market growth.

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 In 2022, the North American region dominated the global whole genome sequencing market with market revenue of 2.5 billion.

• The significant growth is majorly attributed to the increasing research institutions, universities, and medical centers in the region. These institutions have advanced research infrastructure, including cutting-edge sequencing technologies and skilled researchers, enabling significant contributions to genomics research.
  
• Additionally, the region hosts numerous leading biotechnology & pharmaceutical companies focused on genomics and personalized medicine. These companies invest significantly in genomic research and development, including large-scale sequencing projects. Therefore, this trend drives innovation in whole genome sequencing and its application in cancer treatments, thereby augmenting the regional market trends.
  

Whole Genome Sequencing Market Share

Within the whole genome sequencing industry, major industry players along with small and mid-size companies compete to offer advanced services in this space. Illumina, Inc, Thermo Fisher Scientific, Inc, and Danaher Corporation accounts for largest market share in the overall market. By meticulously assessing the market share of company considering factors such as the breadth of service offerings and customer satisfaction, one can unveil valuable insights into the competitive landscape of this market and strategically position themselves for success in this sector.

Major players operating in the whole genome sequencing is as mentioned below:

• Thermo Fisher Scientific, Inc
• Danaher Corporation
• Illumina, Inc
• QIAGEN N.V.
• Merck KGaA
• Eurofins Scientific
• Siemens Healthineers
• Macrogens, Inc
• Bio-Rad Laboratories, Inc
• Agilent Technologies, Inc
• F. Hoffmann-La Roche Ltd
  

Whole Genome Sequencing Market Industry News:

• In July 2021, Illumina, Inc., re-acquired GRAIL, a health company focusing on the early detection of cancer using new and rich genome sequencing techniques. This helped the company to grow its product portfolio and increase its reach.
  
• In July 2021, QIAGEN N.V., collaborated with Sysmex Corporation for global cancer companion diagnostic development and commercialization using NGS and genomic technologies. The alliance aimed at fostering the product’s growth and increasing the revenue.
  

 The whole genome sequencing market report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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By Products & Services, 2018 – 2032 (USD Million)

• Instruments
• Consumables
• Services

By Type, 2018 – 2032 (USD Million)

• Large whole genome sequencing
• Small whole genome sequencing

By Technology, 2018 – 2032 (USD Million)

• Sanger sequencing
• Polymerase chain reaction
• Microarray
• Next generation sequencing
• Other technologies

By Application, 2018 – 2032 (USD Million)

• Diagnostics
• Drug discovery and development
• Precision medicine
• Other applications

By End-user, 2018 – 2032 (USD Million)

• Hospitals & clinics
• Academic institutes & research centers
• Pharmaceutical and biotechnology companies
• Other end-user

The above information is provided for the following regions and countries:

• North Americ
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of Middle East & Africa