Absolute Market Insights recent analysis of the Whole Genome Sequencing (WSG) Market finds that the increasing demand from the rapid advancement in technology for identifying genome sequencing is expected to witness maximum growth in the Whole Genome Sequencing (WSG) Market during the forecast period. The global Market revenue stood at a value USD 5.2 Bn in the year 2021.
Market Synopsis
The process of determining the completeness of the sequence of DNA of any organism’s genome at one time is known as whole genome sequencing. This process which is also termed as full genome sequencing or complete genome sequencing follows sequencing total chromosomal DNAs of any organism and also the one in mitochondria. In case of plants, sequencing is done by following the chloroplast. Whole genome sequencing has been in the picture since long but was only used as a tool for research. The clinics started using this technique post 2014 and since then the whole genome sequencing (WSG) market has only gone upwards in terms of growth.
Whole Genome Sequencing (WSG) Market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behaviour such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Whole Genome Sequencing (WSG) Market is predicted to grow at a CAGR of roughly 18.60% during the forecast period.
- The Whole Genome Sequencing (WSG) Market was estimated to be worth roughly 5.2 Bn in 2021 and is expected to reach USD 28.6 Bn by 2028; based on primary research.
- On the basis of region, is projected to dominate the worldwide Whole Genome Sequencing (WSG) Market.
Market Dynamics:
Industry Analysis:
The report covers exhaustive analysis on the global Whole Genome Sequencing (WSG) Market. Industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.
Drivers:
The rising number of cancer patients and genetic disorders are the primary growth drivers of the Global Whole Genome Sequencing (WGS) Market.Whole genome sequencing (WSG) market was immensely benefited by the coronavirus pandemic as genome sequencing gained massive popularity as it was used in clinical diagnostic tests and also to determine the impact of dreadful CoV-2 virus on the organisms.
Restraint:
The high cost of sequencing procedures and the medical treatments associated with them, stringent regulatory standards, and high capital requirements are expected to hamper the growth of the Global Whole Genome Sequencing (WGS) Market over the forecast period.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities worldwide were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pervasive might lead to a significant delay in the commercial roll-out of the packaging industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Quarterly Market Revenue Forecast 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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The Report on Whole Genome Sequencing (WSG) Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historical Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America accounted for a lion’s share of the revenue generated by the whole genome sequencing (WSG) market in 2021. The United States government led by President Joe Biden had announced a huge amount of $1 billion towards development of genomic sequencing and this is driving the growth of this market.
List of Prominent Players in Whole Genome Sequencing (WSG) Market:
- 10x Genomics
- Agilent Technologies
- BGI
- Eurofins Genomics, Inc.
- GENEWIZ
- Illumina, Inc.
- Macrogen Europe B.V
- Oxford Nanopore
- Qiagen N.V.
- Simplify Genomics
- Thermo Fisher Scientific, Inc.
- Veritas
- Other Market Participants
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Whole Genome Sequencing (WSG) Market?
- How will the Whole Genome Sequencing (WSG) Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Whole Genome Sequencing (WSG) Market?
- What is the Whole Genome Sequencing (WSG) Market drivers and restrictions?
- What will be the CAGR and size of the Whole Genome Sequencing (WSG) Market throughout the forecast period?
This market titled Whole Genome Sequencing (WSG) Market will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Market Size Provided for Years: 2016-2028
Base Year: 2021
Historic Years: 2016-2020
Forecast Years: 2022-2028
Segmentation Covered:
- 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
Region & Counties Covered
- North America
- The U.S.
- Canada
- Mexico
- 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
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Report Coverage
- Market growth drivers
- restraints, opportunities
- Porter’s five forces analysis
- PEST analysis
- Value chain analysis
- Regulatory landscape
- Technology landscape
- Patent analysis
- Market attractiveness analysis by segments and Regional
- Company market share analysis
- COVID-19 impact analysis
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