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Global Whole Genome Sequencing (WSG) Market was Valued at US$ 5.20 Bn in 2021, Growing at an Estimated CAGR of 18.6% over the Forecast Period (2022 – 2030): A Report by Absolute Markets Insights

Published On 30 Jun 2022 03:07 PM


Human DNA is a complex structure and researchers are yet to understand it completely, irrespective of the level of advancement witnessed by science. Scientists are finding new ways to get into the detail of genetics of almost every organism including human, animals and plants. This would help them in getting answers for several questions like response to any new drug or change in environment. This is exactly where; genome sequencing plays an important role. It is basically showcasing abilities to not only treat diseases but also their management and prevention. As the world of modern medical science is now heavily inclined towards precision medicine instead of traditional treatment, and genome sequencing is facilitating this change by showcasing supreme clinical properties, the global whole genome sequencing (WSG) market is propelling. Whole genome sequencing has proven to be a boon for cancer patients as it not only helps in diagnosis but also in understanding the root cause of this dreadful ailment.

The healthcare sector was tremendously dented by the coronavirus pandemic. In the times of global adversity, majority of government-affiliated pharma companies and research institutions ramped up their research activities in an attempt for the development of the vaccine or effective treatment for the novel disease. Genome sequencing was used by researchers to not only track the origin of CoV-2 but also track its spread and impact. The demand for single cell sequencing has gone up drastically over the period of last few years and this rampantly is driving the growth of whole genome sequencing (WSG) market. Similarly, surging number of genome projects that have been aided by the government bodies across the globe is also contributing to the growth of this market. The study of genome is a great help in developing treatment for several ailments.

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Irrespective of the efficiency of this treatment, the lack of technicians who are trained in conducting plays a big restraining factor in the growth of whole genome sequencing (WSG) market. Despite better instruments, many nations are having lesser number of technicians. Meanwhile, the introduction of portable genome sequencing devices is forecasted to take the global whole genome sequencing (WSG) market to a new level. These devices are not just efficient but also are highly affordable and this is driving the the growth of this market.

Report Highlights - Global Whole Genome Sequencing (WGS) Market:

  • Human whole-genome sequencing section is forecasted to witness fastest growth over the period of next few years. The extensive research in terms of cancer and post COVID-19 will help this segment to grow.
  • The paradigm shift towards medicines that are personalized along with plunging costs of sequencing courtesy of the introduction of NGS technology is immensely contributing in the growth of whole genome sequencing (WSG) market.
  • Despite huge funding from various government bodies, stringent regulatory framework towards development of latest products is likely to hinder the growth of this market.
  • The region of Asia Pacific is forecasted to witness growth at the fastest rate for the whole genome sequencing (WSG) market. Presence of leading pharmaceutical companies along with government affiliated research institutes in Japan, South Korea, India and China will contribute to the growth of this market.

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Global Whole Genome Sequencing (WSG) Market Key Players:

  • 10x Genomics
  • Agilent Technologies
  • BGI
  • Eurofins Genomics, Inc.
  • Illumina, Inc.
  • Macrogen Europe B.V
  • Oxford Nanopore
  • Qiagen N.V.
  • Simplify Genomics
  • Thermo Fisher Scientific, Inc.
  • Veritas
  • Other Market Participants

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Global Whole Genome Sequencing (WSG) Market

By Procedures/ Techniques

  • Large Whole Genome Sequencing (>5Mb)
  • Small Genome Sequencing (<=5Mb)
  • Phased Sequencing
  • Human Whole Genome Sequencing
  • De Novo Sequencing

By Genome Type

  • Human
  • Plant
  • Animal Microorganism
  • Virus
  • Others

By Application

  • Food Safety Management
  • Identification
  • Drug Trials and Pharmacogenomics
  • Rare Disease Diagnosis
  • Others

By End Use

  • Hospitals
  • Academic Institutions and Research Institutions
  • Pharmaceutical and Biotechnology Companies
  • Others

By Region

  • North America (U.S., Canada, Mexico, Rest of North America)
  • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America)

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Press Release Provided By: Absolute Markets Insights