Whole Genome Sequencing Market Size, Share, Forecast, & Trends Analysis by Offering (Library Preparation, DNA Extraction) Sequencing Type (Large, Small, Phased), Technology (SBS, SMRT, Nanopore, Nanoball) Application, End User – Global Forecast to 2031

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.

Whole Genome Sequencing Market Size & Forecast

The growth of this market can be attributed to 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.

Furthermore, increasing applications of whole genome sequencing, government support for large-scale genomic sequencing projects, and emerging economies are expected to offer significant market growth opportunities.

Whole Genome Sequencing Market Growth Drivers

Increasing Prevalence of Cancer & Genetic Disorders

Whole-genome sequencing is frequently conducted in clinical settings, particularly for genetic diseases and chronic diseases like cancer. In the case of rare genetic diseases where no specific mutations have been observed using other molecular tests, advanced sequencing technologies are used for whole-genome sequencing. The global burden of genetic diseases and cancer is increasing. For instance,

• According to Global Genes, there are more than 10,000 distinct types of genetic and rare diseases. and 10 in 8 rare diseases are genetic.
• According to WHO report of February 2023, approximately 240,000 newborns die within 28 days and death of 170,000 children of age between 1 month and 5 years causes due to congenital disorders in the world.
• According to World Economic Forum (Switzerland) around 21 million people in China are suffering from rare disease.
• According to National Institutes of Health (NIH) around 20 million people in the world are suffering from sickle cell disease and 100,000 people in U.S. are affected by sickle cell disease.
• According to the International Agency for Research on Cancer (IARC), a specialized agency of the World Health Organization (WHO), cancer incidence is expected to increase from 26.9 million in 2022 to 39.5 million in 2040. Moreover, mortalities due to cancer are estimated to increase from 9.7 million in 2022 to 35 million in 2050. Nearly 70% of the total deaths due to cancer occur in low and middle-income countries.

Thus, increasing prevalence of cancer genetic disorders is increasing the demand for diagnosis of genetic disorders which in turn is expected to drive the growth of whole genome sequencing market.

Advantages of Whole Genome Sequencing Such as High-Resolution, and Base-By-Base View of The Genome.

Whole Genome sequencing helps in capturing large and small variants in the genome and assists in analysis of individuals entire genome. High resolution of whole genome sequencing helps in identification of variations in the genome including translocations and copy number variations which makes it a powerful tool for studying genetic basis of various health conditions and diseases. Furthermore, whole genome sequencing is commonly used in sequencing the entire human genome but with the advent of next generation sequencing technology it can now be used for sequencing several species which includes plants, livestock, or diseases related to microorganism.

Base by base view offered by whole genome sequencing further helps in the detection of structural rearrangements, which allows the detection of variants in both coding and non-coding region, as interpretation of non-coding variants is difficult in conventional sequencing methods. Thus, advantages offered by whole genome sequencing increases its adoption in clinical settings driving the growth of whole genome sequencing market.

Whole Genome Sequencing Market Opportunity

Government Initiatives Supporting Large Scale Genomic Sequencing Projects

The availability of advanced sequencing technologies has lowered sequencing costs and significantly reduced the time required for genome sequencing. With the availability of safe and accurate genetic tests governments around the world aim to promote their use for better healthcare management by investing in genomic research. For instance,

• According to a report of February 2024 by Commonwealth of Australia, the Genomics Health Futures Mission invested USD 500.1 million in genomic research. This investment aims to deliver better testing, diagnostics, and treatment.
• In October 2023, Government of Canada invest USD 15 million for creating a Pan-Canadian Genome Library which allows easier sharing of genomic data across the country.
• In December 2022, Government Of U.K invested USD 217 million for boosting genomic research.

Thus, such initiatives are expected to support the growth of genomic research which is further expected to offer significant opportunities for the growth of the whole genome sequencing market.

Increasing Applications of Whole Genome Sequencing

Whole genome sequencing allows close analysis of gene mutations for diagnosis of disease and can be opted in critical situations where rapid diagnosis is important. Whole genome sequencing can be used to discover an original diagnosis of some unexplained conditions including intellectual disability, brain abnormalities, developmental issues such as delays in walking or talking, hearing or vision problems, severe skeletal abnormalities, immune deficiencies and others. Furthermore, increasing prevalence of genetic diseases in infants have increased the demand for prenatal screening, for preventing birth defects and whole genome sequencing shows an ability in detection of aneuploidies, microdeletions, which helps in reducing birth defects.

Whole Genome Sequencing Market Analysis: Key Findings

By Offering: In 2024, the Consumables Segment to Dominate the Whole Genome Sequencing Market

Based on offering, the whole genome sequencing market is segmented into consumables, sequencing instruments, software, and services. In 2024, the consumables segment is expected to account for the largest share of 70.1% of the whole genome sequencing market. The largest share of the segment is attributed to the recurring use of consumables, continuous advancements in reagents and target enrichment protocols and associated consumables, the increasing applications of whole genome sequencing in clinical settings driving the demand for consumables, Additionally, many companies are focusing on organic and inorganic strategies to enhance their consumable offerings which is contributing to the largest share of the segment.

By Sequencing Type: In 2024, the Large whole-genome sequencing Segment to Dominate the Whole Genome Sequencing Market

Based on sequencing type, the whole genome sequencing market is segmented into large whole-genome sequencing, small whole-genome sequencing, human whole-genome sequencing¸, and other whole-genome sequencing types. In 2024, the large whole genome sequencing segment is expected to account for the largest share of 76.7% of the whole genome sequencing market. Largest share of the segment is attributed to factors including large whole genome sequencing provides high resolution and base by base view of the genome, helps in sequencing large genome for providing population level studies. Furthermore whole genome sequencing is more often used for tumor analysis, investigation of disease cause, selection of animals and plants for breeding and identification of common genetic variations which is contributing to the largest share of the segment.

By Technology: In 2024, the Sequencing by Synthesis Segment to Dominate the whole genome Sequencing Market

Based on technology, the whole genome sequencing market is segmented into sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing (SMRT), nanopore sequencing, DNA nanoball (DNB) sequencing. In 2024, the sequencing by synthesis segment is expected to account for the largest share of 56.5% of the whole genome sequencing market. The largest share of the segment is attributed to wide adoption of sequencing by synthesis technology, high accuracy offered by the technology it supports both paired-end and single-read libraries offers high resolution genome sequencing are the factors contributing to the largest share of the segment.

By Application: In 2024, the Research and Other Applications Segment to Dominate the Whole Genome Sequencing Market

Based on application, the whole genome sequencing market is segmented into research applications and clinical applications. In 2024, the research applications segment is expected to account for the largest share of the whole genome sequencing market. The research applications segment is further sub segmented into drug discovery, agriculture & animal research, and other applications. The largest share of the segment is attributed to the factors including the increasing utilization of whole genome for identifying novel drug targets, increasing demand for gene-based medicines, growing investments in drug research and development activities, and increasing research programs for personalized medicine. Additionally, whole genome sequencing is widely used in the research space to identify specific genes and their sequences, which is involved in developing targeted medicines, food microbiology, microbiota analysis in the beverage industry, and environmental studies.

By End User: In 2024, the Pharmaceutical & Biotechnology Companies Segment to Dominate the Whole Genome Sequencing Market

Based on end user, the whole genome sequencing market is segmented into pharmaceutical & biotechnology companies, hospitals and diagnostic laboratories, academic institutes & research centers, and other end users. In 2024, the pharmaceutical & biotechnology companies’ segment is expected to account for the largest share of the whole genome sequencing market. The largest market share of this segment is attributed to factors such as the increasing R&D spending by pharmaceutical & biotechnology companies and the rising incidence of genetic diseases which drive the adoption of whole genome sequencing among pharmaceutical & biotechnology companies and the extensive utilization of advanced sequencing products for cancer studies.

Geographical Analysis

In 2024, North America is expected to account for the largest share of 52.1% of the whole genome sequencing market. The large market share of this region is primarily attributed to the high research investments by pharmaceutical and biopharmaceutical companies, presence of leading whole genome sequencing providers in the region, high awareness of whole genome sequencing, favorable government initiatives for genomics research applications, growing applications of NGS-based research, declining cost of sequencing, high cancer prevalence, and favorable reimbursement scenario in the region.

Moreover, the market in Asia-Pacific is slated to register the highest growth rate of 16.4% during the forecast period. Asia-Pacific is becoming an increasingly active market for healthcare product manufacturers & service providers due to the improving healthcare infrastructure in the region. Asia-Pacific’s growing population is the key factor driving the region’s healthcare and pharmaceutical sectors, drawing a lot of investments from market players and government organizations. China, Japan, India, and Singapore aim to become competitive in the global biotech market, paving the way for many research and development activities in next-generation sequencing market. Such factors are supporting the fastest growth rate of the region.

Whole Genome Sequencing Market: Key Companies

The report offers a competitive landscape based on an extensive assessment of the product offerings and geographic presence of leading market players and the key growth strategies adopted by them over the past few years (2021–2024). The key players operating in the 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)

Whole Genome Sequencing Industry Overview: Latest Developments from Key Industry Players

• In May 2024, QIAGEN N.V. (Netherland) launched QIAseq Multimodal DNA/RNA Library Kit. The kit enables the preparation of RNA and DNA libraries for NGS, which includes whole transcriptome sequencing (WTS) and whole genome sequencing (WGS).
• In November 2023, QIAGEN N.V. (Netherland) launched a research workflow that includes high-quality DNA extraction kits, library preparation for whole genome metagenomics, and user-friendly bioinformatics analysis.
• In October 2023, Pacific Biosciences of California Inc. (U.S.) launched the Pacific Biosciences of California WGS variant pipeline. It is a complete, standardized computational method for HiFi Whole Genome Sequencing (WGS) data analysis.
• In March 2023, Illumina, Inc. (U.S.) launched Connected Insights, a cloud-based software for tertiary analysis of clinical next-generation sequencing data, including somatic oncology applications, whole genome sequencing for rare

diseases, and reduced turnaround time of clinical reporting via integration of third-party knowledge bases.

• In July 2022, Beijing Genomics Institute (BGI) (China), BGI Genomics partnered with the Serbian Genome Sequencing and Bioinformatics Center to enhance and develop the center's whole exome sequencing (WES), whole genome sequencing (WGS), and genomic analysis capabilities.

Whole Genome Sequencing Market Research Summary

Key questions answered in the whole genome sequencing market report: