Whole Genome Sequencing Market to be Dominated by the Diagnostics Segment by 2028

According to TechSci Research report, “Whole Genome Sequencing Market –Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, the Global Whole Genome Sequencing Market is anticipated to grow at a steady rate in the forecast period, 2024-2028. This can be attributed to the increased utilization of whole genome sequencing in research and genetic disease diagnosis.

Whole genome sequencing is a technique that includes the complete genome sequence of an organism, all at the same time. This technique includes the study of genetic sequence and thereby has a wide application in identifying genetic disorders, study and track disease outbreaks, mutations among the genetic sequence, and is thereby a wide application in disease diagnosis and is anticipated to increase the market demand with the growing prevalence of infectious, microbial, and genetic disease.

Additionally, whole genome sequencing is utilized for microbial identification, create reliable reference genomes, and other comparative genomic investigations, Also, it is required to sequence the full bacterial, viral, and other microbial genomes with providing quick and precise results and is thus anticipated to propel the demand for whole genome sequencing market in the forecast period.

Moreover, in whole genome sequencing, factors such as complementing sequencing with AI, Cloud computing, usage of other updated technology, and is thus utilized for identifying newborn and pediatric diseases, family disease pedigrees, rare tumor types, and drug trials, among the people.

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Based on sequencing type, the market is segmented into large whole-genome sequencing and small genome sequencing. The large whole-genome sequencing segment is dominating the market in 2022 and is expected to hold the highest market share in the forecast period. This is on account of increased adoption of large whole-genome sequencing and its several applications for population genetics and research, Moreover, the sequencing of large genomes i.e., more than 5 Mb as in plants, animals, and humans are highly significant to study the genome and develop identification of several diseases in them.

Based on application, the market is segmented into diagnostics, drug discovery and development, personalized medicine, and others. The diagnostics segment dominated in 2022 and is expected to hold the highest share in the forecast period. This is due to the increase in research & development in the disease diagnosis for several genetic, infectious, pedigree diseases by undergoing methods such as microbial resequencing, DNA sequencing of whole genome, alongwith the growing public and governmental funding for research & development in the chronic disease research.

Besides the high cost of sequencing procedures and the associated medical treatments along with stringent governmental regulatory standards are the restraining factors that are expected to hamper the growth of the Global Whole Genome Sequencing (WGS) Market over the forecast period.

Major companies operating in the Global Whole Genome Sequencing Market are:

• GE Healthcare, Inc.
• Illumina, Inc.
• QIAGEN N.V.
• Thermo Fisher Scientific
• Agilent Technologies
• 10 x Genomics
• BGI
• Oxford Nanopore
• Nebula Genomics
• Veritas Genetics

Companies operating in the market are following strategies such as continuously innovating tools to improve image quality and create specialized clinical tools to help the patients see more anatomical detail with greater certainty, enabling them to provide the best possible patient care, to stay competitive and have an edge over other players operating in the industry.

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“North America region is expected to dominate the Whole Genome Sequencing Market attributed on account of rising investment in Research & development activities for the expansion of technologically advanced molecular diagnostic tests regarding the early diagnosis of several genetic disorders. Besides, increasing number in genetic and chronic disease, rising R&D investments, well-established healthcare system and high number of skilled professionals are further expected to support the market growth in the region” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Whole Genome Sequencing Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028. Segmented By Sequencing Type (Large Whole-Genome Sequencing and Small Genome Sequencing), By Product Type (Instrument, Kits, and Service), By Application (Diagnostics, Drug Discovery and Development, Personalized Medicine, and Others), By End User (Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, and Others), By Region and Competition”, has evaluated the future growth potential of Whole Genome Sequencing Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global Live Cell encapsulation Market.

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