Whole Genome Sequencing Market Research 2024 - Global Forecast to 2031: Precision Medicine and Whole Genome Sequencing Integration Elevate $7+ Bn Market Potential - ResearchAndMarkets.com

The "Whole Genome Sequencing Market Size, Share, Forecast, & Trends Analysis by Offering Sequencing Type, Technology Application, End User - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.

The global whole genome sequencing market is projected to reach $7.17 billion by 2031 at a CAGR of 15.2% from 2024 to 2031.

The growth of the spirometers market is driven by the declining costs of sequencing, the increasing prevalence of cancer & genetic disorders, the growing utilization of whole genome sequencing in disease diagnostics & precision medicine, increasing pharmaceutical R&D expenditures, improvements in regulatory & reimbursement scenarios for whole genome sequencing, rising healthcare expenditures, increasing funding for research activities, the growing need for the early detection & prevention of diseases, technological advancements in sequencing products, and government initiatives promoting the use of sequencing in clinical & research applications.

However, the high costs of whole genome sequencing consumables, the low chances of identifying positive, actionable mutations for precision medicine, and the ethical & legal issues related to whole genome sequencing-based diagnosis restrain the growth of this market.

In 2024, North America is expected to account for the largest share of over 52.1% of the whole genome sequencing market. In the region in 2024, the U.S. is expected to account for the largest share of the whole genome sequencing market in North America. North America's significant market share can be attributed to factors such as high awareness of whole genome sequencing, favorable government initiatives supporting genomics research, increasing applications of NGS-based research, decreasing sequencing costs, a high prevalence of cancer, and a supportive reimbursement scenario.

Furthermore, increasing applications of whole genome sequencing, government support for large-scale genomic sequencing projects, and emerging economies are expected to generate growth opportunities for the players operating in this market. However, the uncertainties in the regulatory landscape, the limited expertise & sequencing capabilities of small & medium-sized laboratories, the lack of sequencing professionals in developing countries, and the high capital investments required for NGS setups pose a major challenge to market growth.

The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over four years (2021-2024). The key players operating in the global whole genome sequencing market are Illumina, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S), QIAGEN N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), PerkinElmer, Inc. (U.S) Agilent Technologies, Inc. (U.S), Pacific Biosciences of California Inc. (U.S), Danaher Corporation (U.S), Bio-Rad Laboratories, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K),MGI Tech Co., Ltd. (China), Beijing Genomics Institute (BGI) (China).

Among all the offerings studied in this report, the consumables segment is expected to account for the largest share of over 70.1% of the whole genome sequencing market. This segment's large market share can be attributed to the recurring use of consumables, continuous advancements in reagents and target enrichment protocols and associated consumables, and the increasing applications of whole genome sequencing in clinical settings.

Among all the sequencing types studied in this report, in 2024, the whole genome sequencing segment is expected to account for the largest share of the whole genome sequencing market. This segment's large market share can be attributed to the large whole genome sequencing provides high resolution and base-by-base view of the genome and helps in sequencing large genome for providing population-level studies.

Among all the technologies studied in this report, in 2024, the sequencing by synthesis segment is expected to account for the largest share of the whole genome sequencing market. This segment's large market share can be attributed to the widespread adoption of sequencing by synthesis technology, which offers high accuracy and supports both paired-end and single-read libraries, enabling high-resolution genome sequencing.

Among all the applications studied in this report, in 2024, the research applications segment is expected to account for the largest share of the whole genome sequencing market. This segment's large market share is attributed to the increasing use of whole genome sequencing to identify novel drug targets, the rising demand for gene-based medicines, and growing investments in drug research and development activities.

Among all the end users studied in this report, in 2024, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the whole genome sequencing market. This segment's large market share can be attributed to increased R&D spending by pharmaceutical and biotechnology firms, along with the rising incidence of genetic diseases, which is fueling the adoption of whole genome sequencing in these industries.

Market Insights

• Factors Affecting Market Growth
• Impact Analysis of Market Dynamics
• Factor Analysis
• Pricing Analysis
• Technology Trends
• Emerging Sequencing Companies' Focus on Improving Technologies and Reducing Costs
• Singular Genomics Systems, Inc. (U.S.)
• Ultima Genomics, Inc. (U.S.)
• Element Biosciences (U.S.)
• Key Market Players' Emphasis on Portable and Real-Time Sequencing Technologies
• Regulatory Analysis

Competition Analysis

• Key Growth Strategies
• Competitive Benchmarking
• Competitive Dashboard
• Industry Leaders
• Market Differentiators
• Vanguards
• Emerging Companies
• Market Share Analysis (2023)
• Illumina, Inc. (U.S.)
• Thermo Fisher Scientific Inc. (U.S.)
• MGI Tech Co., Ltd. (China)

Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments, and SWOT Analysis)

• Illumina Inc. (U.S.)
• Thermo Fisher Scientific Inc. (U.S)
• QIAGEN N.V. (Netherlands)
• F. Hoffmann-La Roche Ltd (Switzerland)
• PerkinElmer Inc. (U.S) Agilent Technologies Inc. (U.S)
• Pacific Biosciences of California Inc. (U.S)
• Danaher Corporation (U.S)
• Bio-Rad Laboratories Inc. (U.S.)
• Oxford Nanopore Technologies Plc. (U.K)
• MGI Tech Co.
• Ltd. (China)
• Beijing Genomics Institute (BGI) (China)

Scope of the Report:

Whole Genome Sequencing Market Assessment - by Offering

• Consumables
• Sample Preparation Kits & Reagents
• Nucleic Acid Extraction & Amplification
• Library Preparation & Target Enrichment
• Quality Control
• Other Consumables
• Instruments
• Software
• Services

Note: Other consumables include vials, pipettes, containers, trays, sequencing reagents, flow cells, and tubes.

Whole Genome Sequencing Market Assessment by Sequencing Type

• Large Whole-Genome Sequencing
• Small Whole-Genome Sequencing
• Human Whole-Genome Sequencing
• Other Whole-Genome Sequencing Types

Note: Other Whole-genome sequencing types include De novo sequencing, Phased sequencing, Long-read sequencing, and Clone-by-clone sequencing.

Whole Genome Sequencing Market Assessment by Technology

• Sequencing by Synthesis
• Ion Semiconductor Sequencing
• DNA Nanoball Sequencing
• Single-molecule Real-time Sequencing
• Other NGS Technologies

Note: Other whole genome sequencing technologies include nanopore sequencing and AVITI sequencing (Avidity base chemistry (ABC).

Whole Genome Sequencing Market Assessment by Application

• Research and Other Applications
• Drug Discovery
• Agriculture and Animal Research
• Other Applications
• Clinical Applications
• Reproductive Health
• Oncology
• Infectious Diseases
• Other Clinical Applications

Note: Other applications include food microbiology, microbiota analysis in the beverage industry, and environmental studies.

Other clinical applications include the detection of genetic aberrations in neurological disorders, rare diseases, metabolic and immune disorders, and food-borne illnesses.

Whole Genome Sequencing Market Assessment by End User

• Pharmaceutical & Biotechnology Companies
• Hospitals & Diagnostic Laboratories
• Academic Institutes & Research Centers
• Other End Users

Note: Other end users primarily include forensic laboratories & security agencies, food & beverage companies, and agriculture companies.

Whole Genome Sequencing Market Assessment by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K
• Italy
• Spain
• Rest of Europe (RoE)
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Rest of Asia-Pacific (RoAPAC)
• Latin America
• Brazil
• Mexico
• Rest of Latin America (RoLATM)
• Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/l9e5eq

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