What Has Driven the Growth of the Short Read Sequencing Market in Recent Years?
The short read sequencing market has seen considerable growth due to a variety of factors.
•The market size of short read sequencing has seen rapid expansion in the past few years. With an impressive compound annual growth rate (CAGR) of 18.0%.
its value is set to increase from $6.66 billion in 2024 to $7.86 billion in 2025. Factors such as initiatives in genomic research, a rising incidence of genetic disorders, research by pharmaceutical and biotech firms, diagnostic applications, as well as falling costs of sequencing have contributed significantly to the growth observed during this historical period.
What is the Market Size Forecast for the Short Read Sequencing Market?
The short read sequencing market is expected to maintain its strong growth trajectory in upcoming years.
• Over the next few years, the market size for short read sequencing is set for impressive expansion. It's predicted to balloon to a value of $15.21 billion by 2029, with an annual growth rate of 17.9%.
The expected growth during the forecast period is due to advancements in precision medicine, an accelerated expansion in personalized genomics, increased use in agriculture, a boom in microbiome research, and growing demand from budding markets. Noteworthy trend predictions for the future include automation and high-capacity throughput, adoption of cloud-based solutions, incorporation of artificial intelligence and machine learning, portable sequencing technologies and the synergy of long-read sequencing.
Which Factors Are Boosting Growth In The Short Read Sequencing Market?
Growth in the short-read sequencing market is anticipated to be driven by the increasing prevalence of genetic diseases. Genetic disorders, which are marked by irregularities or mutations in a person's DNA or genes, result in physical, developmental or biochemical abnormalities, influencing their health and quality of life. Short-read sequencing is employed in the study of genetic diseases to thoroughly analyze the genome and detect variants associated with diseases. For example, in June 2022, RARE-X, a patient support platform based in Australia, issued a report stating that there were 10,867 rare diseases, which included both genetic and non-genetic conditions. As such, the growing occurrence of genetic diseases is fuelling the expansion of the short-read sequencing market.
What Key Areas Define The Segmentation Of The Global Short Read Sequencing Market?
The short read sequencing market covered in this report is segmented –
1) By Product: Instruments, Consumables, Services.
2) By Technology: Next-Generation Sequencing, Sanger Sequencing.
3) By Workflow: Pre-Sequencing, Sequencing, Data Analysis.
4) By Application: Clinical Investigation, Oncology, Reproductive Health, Consumer Genomics, Agri genomics And Forensics, HLA Typing Or Immune System Monitoring.
5) By End Users: Academic Research, Hospitals And Clinics, Clinical Research, Pharmaceutical And Biotechnology Companies.
Subsegments:
1) By Instruments: Next-Generation Sequencing (NGS) Systems, Sequencing Platforms, Library Preparation Systems
2) By Consumables: Reagents And Kits, Flow Cells, Sample Preparation Consumables
3) By Services: Sequencing Services, Data Analysis Services, Bioinformatics Services
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How Are Emerging Trends Reshaping The Dynamics Of The Short Read Sequencing Market?
The proliferation of technological improvements is a crucial trend escalating in the short-read sequencing industry. Large corporations in the market are zeroing in on these advancements to elevate their observational abilities and maintain their foothold. For example, Pacific Biosciences Inc., an American firm renowned for creating exceptional, highly accurate sequencing technologies, initiated external beta testing for the Onso sequencing system in October 2022. The system was engineered to offer consistent and cost-effective data. The short-read platform was created specifically to provide oncology researchers with accurate and specific targeted sequence analysis results.
Who Are the Key Players in the Short Read Sequencing Market?
Major companies operating in the short read sequencing market include:
• F. Hoffmann-La Roche AG
• Thermo Fisher Scientific Inc.
• GE HealthCare Technologies Inc.
• Cytiva Lifesciences
• Eurofins Scientific SE
• Agilent Technologies Inc.
• Beckman Coulter Inc.
• Illumina Inc.
• QIAGEN N.V.
• PerkinElmer Inc.
• BGI Genomics Co Ltd
• MGI Tech Co. Ltd.
• GenScript Biotech Corporation.
• 10x Genomics Inc.
• Novogene Co. Ltd
• Oxford Nanopore Technologies Ltd.
• Pacific Biosciences of California Inc.
• Macrogen Inc.
• Genewiz Inc.
• Zymo Research Corporation
• GenapSys Inc.
• Fasteris SA
• Paragon Genomics Inc.
• Nabsys Inc.
• GATC Biotech AG
What Is The Most Dominant Region In The Short Read Sequencing Market?
North America was the largest region in the Short Read Sequencing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the short read sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
