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Soaring Demand Set to Propel Whole Exome Sequencing Market to $7.27 Billion by 2029
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Is the Expected CAGR for the Whole Exome Sequencing Market Through 2025?
The expanse of the whole exome sequencing market has experienced swift augmentation lately, projected to see an increase from its 2024 valuation of $2.82 billion to $3.36 billion by 2025, reflecting a compound annual growth rate (CAGR) reaching 19.1%; fundamental drivers behind this expansion during the past period encompass breakthroughs in genomic investigation, the increasing adoption of personalized healthcare strategies, advancements in identifying infrequent illnesses, expanded utilization within the pharmaceutical and biotechnology sectors, alongside a reduction in the expenses associated with sequencing technologies.
What's the Projected Size of the Global Whole Exome Sequencing Market by 2029?
The total valuation of the exome sequencing sector is projected to experience rapid expansion over the approaching years, climbing to reach seven point two seven billion US dollars by the year 2029, demonstrating a compound annual growth rate (CAGR) of twenty-one point three percent. This upward trajectory anticipated through the projection timeframe is fueled by an increase in use cases within cancer research, its incorporation into standard clinical testing procedures, escalating consumer interest in genetic screening, global population genomics projects, and the introduction of novel gene-based treatments. Key developments shaping this market during the forecast include improved practical application and wider acceptance, the continuous reduction in sequencing expenditure, heightened attention given to safeguarding data confidentiality and privacy, seamless linkage with established electronic health record systems, and technological leaps in single-cell analysis methods.
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Top Growth Drivers in the Whole Exome Sequencing Industry: What's Accelerating the Market?
The burgeoning spread of HIV, the virus that attacks the body's immune defenses, is projected to be a primary catalyst for the expanded whole exome sequencing market in the future. Whole exome sequencing techniques are instrumental in determining the genomic blueprints of viruses, which subsequently aids in developing tailored treatment regimens and vaccination strategies for HIV. To illustrate this trend, data released in August 2024 by the Minority HIV/AIDS Fund (MHAF), a US government entity, indicated that worldwide, roughly 39.9 million people were contending with HIV in 2023, encompassing 38.6 million adults and 1.4 million minors, a figure that reflects an increase over prior estimates. Consequently, the rising incidence of HIV infections is directly fueling the expansion within the whole exome sequencing market.
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What Trends Will Shape the Whole Exome Sequencing Market Through 2029 and Beyond?
A significant current in the whole exome sequencing market involves the adoption of advanced diagnostic methodologies. Entities engaged in the whole exome sequencing sector consistently strive for novel product developments as a means of maintaining competitive standing. As an illustration, in February of 2023, Illumina Inc., an American biotechnology firm, introduced the NovaSeq X Plus, which represents their paramount sequencing innovation, offering a matchless blend of superior throughput and precision, alongside benefits like simplified data processing, enhancements to environmental responsibility, and cost-effectiveness in sequencing operations. The inherent advancements engineered into the NovaSeq X Plus platforms possess the capability to produce results equivalent to tens of thousands of complete genome sequences annually, thereby optimizing output and substantially reducing the time required to complete sequencing tasks.
What Are the Main Segments in the Whole Exome Sequencing Market?
The whole exome sequencingmarket covered in this report is segmented -
1) By Product: Systems; Kits; Services
2) By Technology: Sequencing By Synthesis; Ion Semiconductor Sequencing; Other Technologies
3) By Application: Diagnostics; Drug Discovery And Development; Personalized Medicine; Agriculture And Animal Research
4) By End-User: Hospitals And Clinics; Pharmaceutical And Biotechnology Companies; Academic and Research Institutes; Clinical Laboratories; Other End-Users
Subsegments:
1) By Systems: Sequencing Systems; Data Analysis Systems
2) By Kits: Library Preparation Kits; Exome Enrichment Kits; Sequencing Kits
3) By Services: Data Analysis Services; Consulting Services; Custom Sequencing Services
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Which Top Companies are Driving Growth in the Whole Exome Sequencing Market?
Major companies operating in the whole exome sequencing market include Thermo Fisher Scientific Inc., Illumina Inc., Eurofins Genomics, Azenta US Inc., CD Genomics, Psomagen Inc., Agilent Technologies, BGI Genomics, F. Hoffmann-La Roche Ltd., QIAGEN Inc., Macrogen Inc., Ambry Genetics, Bio-Rad Laboratories Inc., Bioneer Corporation, Foundation Medicine Inc., KONICA MINOLTA INC., Otogenetics Corporation, Geneyx Genomex Ltd., ArcherDX Inc., Blueprint Genetics Oy, Bionano Genomics Inc., Centogene AG, Fulgent Genetics Inc., Natera Inc., GeneDx Inc., GENEWIZ Inc., Novogene Corporation, PerkinElmer Inc., Personalis Inc.
Which Regions Will Dominate the Whole Exome Sequencing Market Through 2029?
North America was the largest region in the whole exome sequencing market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global whole exome sequencing market report during the forecast period. The regions covered in the whole exome sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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