Whole Genome Sequencing Market Size, 2023–2030; Industry Statistics & Growth Analysis
Whole Genome Sequencing Market size surpassed USD 1.55 Billion in 2022 and is poised to reach USD 7.33 Billion, growing at over 23.06% CAGR between 2023 and 2030. Increased adoption of precision medicine, advancements in sequencing technologies, and declining sequencing costs are the primary factors contributing to the market’s growth.
Growth Drivers & Opportunities:
1. Increasing prevalence of genetic disorders: The rising incidences of genetic diseases, such as cancer, cardiovascular disorders, and rare genetic conditions, are driving the demand for whole genome sequencing. It allows healthcare providers to identify disease-causing mutations and develop personalized treatment plans.
2. Growing application in precision medicine: Whole genome sequencing plays a crucial role in precision medicine by enabling healthcare professionals to identify genetic variations that influence an individual’s response to specific drugs. This personalized approach helps in optimizing treatments and improving patient outcomes.
Request free Sample: https://www.fundamentalbusinessinsights.com/request-sample/1305
3. Declining sequencing costs: The costs associated with whole genome sequencing have significantly reduced over the years, making it more accessible to a wider population. The decreasing cost of sequencing will further drive market growth and encourage its adoption in routine clinical practices.
4. Advancements in sequencing technologies: Technological advancements, such as next-generation sequencing (NGS) and nanopore sequencing, have revolutionized the field of genomics. These technologies offer faster, cost-effective, and high-throughput sequencing capabilities, enhancing the efficiency and accuracy of whole genome sequencing.
Segmentation Analysis:
By Technology:
Next-Generation Sequencing, Sequencing by Synthesis, Single Molecule Real-Time Sequencing, NanoPore Sequencing, Other Technologies.
Among the various technologies used in whole genome sequencing, Next-Generation Sequencing (NGS) is the most widely adopted. NGS enables high-throughput sequencing and provides a cost-effective and faster method for sequencing whole genomes. It has revolutionized genomic research and is increasingly used in various applications such as diagnostics, drug discovery, and personalized medicine.
By Application:
Clinical Diagnostics, Drug Discovery, Personalized Medicine, Agricultural Genomics, Research Others.
Clinical diagnostics is considered a significant sub-segment within the application segment. Whole genome sequencing plays a vital role in diagnosing genetic diseases, identifying genetic variants, and predicting the risk of developing certain conditions. It offers valuable insights into an individual’s genomic makeup, aiding in the identification of disease-causing mutations and informing personalized treatment approaches.
Regional Forecast:
North America
North America is expected to dominate the market due to the presence of numerous key players and well-established healthcare infrastructure. The region’s strong focus on research and development activities also contributes to its leading position.
Request for customization in this report @
https://www.fundamentalbusinessinsights.com/request-for-customization/1305
Asia Pacific
Asia Pacific is projected to witness substantial growth due to the increasing adoption of advanced technologies and rising healthcare expenditure. The region is witnessing a shift towards personalized medicine and precision healthcare, which is expected to boost the demand for whole genome sequencing.
Europe
Europe is also expected to contribute significantly to the market growth. The availability of well-developed healthcare systems and the presence of major pharmaceutical companies are driving the market in this region. Additionally, supportive government initiatives and increasing investments in research and development activities further propel the whole genome sequencing market in Europe.
Table of Contents (TOC) of Report:
Chapter 1. Methodology
- Market Definition
- Study Assumptions
- Market Scope
- Segmentation
- Regions Covered
- Base Estimates
- Forecast Calculations
- Data Sources
- Primary
- Secondary
Chapter 2. Executive Summary
Chapter 3. Whole Genome Sequencing Market Insights
- Market Overview
- Market Drivers & Opportunity
- Market Restrains & Challenges
- Regulatory Landscape
- Ecosystem Analysis
- Technology & Innovation Outlook
- Key Industry Developments
- Partnership
- Merger/Acquisition
- Investment
- Product Launch
- Supply Chain Analysis
- Porter’s Five Forces Analysis
- Threat of New Entrants
- Threat of Substitutes
- Industry Rivalry
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- COVID-19 Impact
- PESTLE Analysis
- Political Landscape
- Economic Landscape
- Social Landscape
- Technology Landscape
- Legal Landscape
- Environmental Landscape
- Competitive Landscape
- Introduction
- Company Market Share
- Competitive Positioning Matrix
About Fundamental Business Insights:
Fundamental Business Insights is global market research and consulting company which is engaged in providing in depth market reports to its various types of clients like industrial sectors, financial sectors, universities, non-profit, and corporations. Our goal is to offer the correct information to the right stakeholder at the right time, in a format that enables logical and informed decision making. We have a team of consultants who have experience in offering executive level blueprints of markets and solutions. Our services include syndicated market studies, customized research reports, and consultation.
Contact us:
Fundamental Business Insights and Consulting.
USA: +1–415–800–3393
India: +91–845–965–4589
