Whole Genome Sequencing Market Size, Share & Trends Analysis Report By Product (Instruments, Consumables, Services), By Type, By Workflow, By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global whole genome sequencing market was valued at USD 1,645.2 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 20.06% from 2023 to 2030. Whole Genome Sequencing (WGS) is the method of analyzing the entire genome sequence. Hence, the method is used for the characterization of cancer mutations, identification of inherited disorders, and tracking of disease outbreaks. The growth of the market can thus be attributed to the growing prevalence of genetic disorders and mutations that lead to cancer progression. For instance, according to the Centers for Disease Control and Prevention statistics, around 1 in every 707 newborn children in the U.S. suffer from Down syndrome, which accounts for approximately 5,568 children in the U.S.

The COVID-19 pandemic positively impacted the global market as it was used for the early detection of the virus and identification of mutations in the virus. Hence, many government organizations received funding and investment for the establishment of facilities to conduct the method for fueling the advancements in early detection of COVID-19. In March 2022, the U.K. Government launched the whole genome sequence alliance, named the COVID-19 Genomics U.K. Consortium, for the sequencing of genomes of the SARS-CoV-2 virus. The consortium consists of NHS, Wellcome Sanger Institute, Public Health Agencies, and other academic institutions. The alliance received approximately USD 22 million (EUR 20 million) in investment to map the spread of the virus.

Moreover, the demand for whole genome sequencing is growing, and several government and non-government organizations are adopting this method for the early detection of genetic & rare disorders in newborns. This method can be used to identify treatable genetic disorders to avoid disability and complications and to improve quality of life. For instance, in December 2022, the U.K. Government launched the Newborn Genomes Program led by the NHS and Genomics England, which uses this method to detect rare disorders in newborn children.

Furthermore, several hospitals and organizations are adopting this method to enhance the identification and diagnosis of targeted diseases. This is expected to propel the growth of the market during the forecast period. For instance, in February 2021, Stanford Medicine launched its whole genome sequencing in-house service for the identification of the cause of disease, specifically cardiovascular disease, and aids in the identification of target treatments.

Whole genome sequencing costs have substantially reduced in the past few years. This can be attributed to the advances in genetics with the launch of high-throughput technologies. The cost of the method differs from institute to institute and is calculated based on the sequence finishing, sequence data generations, and upfront activities, including equipment amortization, mapping, data analysis, and others. For instance, in February 2020, Nebula Genomics launched lower-cost whole genome sequencing, which is available direct-to-consumer at USD 299. Hence, the development of a lower-cost method is expected to increase the adoption rate of the method and drive the growth of the market during the forecast period.

Product Insights

Based on the product, the consumables segment dominated the market with the largest market share of 61.56% in 2022. Different types of consumables are available for whole genome sequencing, including sample preparation, application kits, sequencing consumables, library preparation and barcoding, and others. The segment's growth can be attributed to the availability of a wide range of consumables for studying disease-related mutations, genetic characterizations, and diverse species. Moreover, these products have a shorter duration of use and hence are required to be replaced by new ones, which is expected to increase the adoption rate of such products. These products represent the highest revenue share of the majority of the companies. For instance, Illumina, Inc. generated around 63%, 64%, and 65% of its total revenue from the sale of sequencing consumables in 2020, 2021, and 2022, respectively.

The services segment is expected to witness the fastest CAGR of 22.40% during the forecast period. The major players in the market offer a wide range of services, including genotyping services, whole genome sequencing services, instrument support services, and noninvasive prenatal testing (NIPT) services. For instance, in April 2021, Sedia Biosciences Corporation launched the Sedia COVID-19 whole genome sequencing service, which provides whole genome sequencing of SARS-CoV-2 samples for the detection of novel variants and their surveillance.

Type Insights

Based on type, the large whole genome sequencing held the largest market share of 77.32% in 2022 owing to its benefits, such as a base-by-base view of the genome and the ability to identify disease-causing alleles in large genomes that might not be identified with alternative methods. This type of method is commonly intended for identifying common genetic variations among the population, analyzing tumors, identifying the cause of the disorder, and selecting animals and plants for agricultural breeding. For instance, the Okinawa Institute of Science and Technology (OIST), Japan, is utilizing the NovaSeq 6000 System, a large whole genome sequencing system for studying the evolutionary genomics of various ocean species and chordates.

The small whole genome sequencing segment is expected to witness the fastest growth at a CAGR of 22.24% during the forecast period. This type is intended for sequencing small organisms such as bacteria, viruses, or other microbes. The growing application of small whole genome sequencing in food testing, environmental metagenomics, infectious disease surveillance, and molecular epidemiology studies is expected to drive the growth of the market during the forecast period.

Workflow Insights

Based on the workflow, the sequencing segment held the largest market share of 52.12% in 2022. The largest revenue share of the segment could be attributed to the high involvement of the key market players in this workflow step. Hence, the key market players are launching novel products dedicated to this step of the workflow. For instance, in September 2022, Illumina, Inc. launched its NovaSeq X series platforms, including NovaSeq X Plus and NovaSeq X. The production-scale sequencers can generate around 20,000 whole genomes in a year, which provides 2.5 times more throughput than existing sequencers.

Data analysis is projected to witness the fastest growth with a CAGR of 21.37% during the forecast period. This can be attributed to the growing advancement in data analysis for the method to provide accurate and quick analysis of the raw data. Genomics analysis is time-consuming; hence, companies are launching innovative products that offer fast-paced data analysis. For instance, in January 2023, Qiagen Digital Insights (QDI) launched Qiagen CLC Genomics Workbench Premium software that analyses the whole genome data in 25 minutes for around USD 1 in cloud computing costs.

Application Insights

The human whole genome sequencing segment dominated the market with the largest revenue share of 62.91% in 2022. This can be attributed to the increasing application of the method in the identification and diagnosis of rare genetic diseases. The prevalence of rare inherited diseases is growing, hence researchers are adopting whole genome sequencing to identify the genes responsible for these conditions. Hence, companies are offering services for sequencing potential causative genes for rare genetic diseases. For instance, BGI offers human whole genome sequencing services for the detection of genome sequences, identification of the potential causative genes, and conducting regulation mechanism studies. Moreover, the declining cost of the method recently has increased the adoption of the method for human genome sequencing, thus contributing to the growth of the market during the forecast period.

The microbial whole genome sequencing market is expected to witness the fastest growth at a CAGR of 21.20% during 2023-2030. This process involves sequencing the entire genome of microbes, including bacteria, viruses, and other microbes, to generate accurate and rapid data of microbial genome sequencing for the detection of low-frequency mutations. Moreover, the COVID-19 pandemic boosted the growth of the segment as the method is used for the identification of the mutations in the SARS-CoV-2 virus.

End-Use Insights

The academic & research institutes segment held the largest market share of 48.72% in 2022. The rising R&D infrastructure at these facilities and growing investment and funding opportunities available are contributing to the rising demand for high-throughput technologies at these facilities. For instance, in December 2022, the Indian Institute of Science Education and Research (IISER) Bhopal researchers carried out whole genome sequencing of Peepal and Banyan leaf tissue samples. Around 19 genes of the Peepal and 17 genes of the Banyan tree have been identified with the method.

Hospitals & clinics are projected to witness the fastest growth at a CAGR of 22.21% during the forecast period. The growth of the segment can be attributed to the benefits associated with whole genome sequencing for infection prevention and hospital surveillance. Hence, many hospital systems and clinics are adopting this technology to combat foodborne diseases more effectively. For instance, in 2019, PulseNet laboratories shifted to whole genome sequencing from pulse-field gel electrophoresis (PFGE) to combat foodborne diseases by identifying the data related to foodborne pathogen characterization.

Regional Insights

North America held the largest market share of 51.34% in 2022 owing to the presence of developed R&D infrastructure and rising government funding which is contributing to the increased research activities for whole genome sequencing in the region. In March 2022, the All of Us Research Program of the National Institutes of Health in the U.S. revealed the first genomic dataset of around 100,000 diverse human whole genome sequences. In addition, around 50% of the data is collected from the participants who identify with racial or ethnic groups and are underrepresented in previous research. Moreover, the presence of major players such as Illumina, Inc., with well-established R&D and manufacturing facilities in the region, is expected to boost the growth of the market.

Asia Pacific region is anticipated to witness the fastest CAGR of 22.61% during the forecast period. The growth of the market in the region can be attributed to the growing investment in R&D and the rising initiatives by governments to support private companies to perform whole genome sequencing. For instance, in February 2022, the Government of India approved five laboratories to perform whole genome sequencing for the detection of the SARS-CoV-2 virus. The laboratories approved include Eurofins Genomics India, Genotypic Technologies Pvt Ltd, Strand Life Sciences, Neuberg Supratech Reference Labs Pvt Ltd, and CARINGdx.

Key Companies & Market Share Insights

The global whole genome sequencing market is highly consolidated, with the key players holding a major market share. Companies are adopting various strategies, such as the launch of advanced and innovative products, mergers & acquisitions, partnerships & collaborations to stay competitive in the market. For instance, LetsGetChecked, an at-home diagnostics startup, entered into the genomics business with the acquisition of Veritas Genetics and Veritas Intercontinental. The acquisition will provide whole genome sequencing capabilities to the company. Some of the key players in the global whole genome sequencing market include:

• Illumina, Inc.

• Thermo Fisher Scientific, Inc.

• Oxford Nanopore Technologies

• Pacific Biosciences of California, Inc.

• BGI

• QIAGEN

• Agilent Technologies

• ProPhase Labs, Inc. (Nebula Genomics)

• Psomagen

• Azenta US, Inc. (GENEWIZ)

Whole Genome Sequencing Market Report Scope

Global Whole Genome Sequencing Market Segmentation

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the whole genome sequencing market based on product, type, workflow, application, end-use, and regions.

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Instruments

  • Consumables

  • Services

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Large Whole Genome Sequencing

  • Small Whole Genome Sequencing

• Workflow Outlook (Revenue, USD Million, 2018 - 2030)

  • Pre-sequencing

  • Sequencing

  • Data Analysis

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Human Whole Genome Sequencing

  • Plant Whole Genome Sequencing

  • Animal Whole Genome Sequencing

  • Microbial Whole Genome Sequencing

• End-Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Academic & Research Institutes

  • Hospitals & Clinics

  • Pharmaceutical & Biotechnology Companies

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait