The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Short Read Sequencing Global Market Report 2023, the short read sequencing market is expected to show significant growth in the forecast period.

The global short-read sequencing market is poised for impressive growth, with expectations of expanding from $4.82 billion in 2022 to $5.74 billion in 2023, representing a robust compound annual growth rate (CAGR) of 19%. Looking ahead, the market is projected to reach an even more substantial figure, hitting $11.08 billion by 2027, with a CAGR of 17.9%. This market’s trajectory is driven by several factors, including the prevalence of genetic diseases and technology advancements.

Challenges Amidst Growth
Before delving into the growth drivers, it’s essential to acknowledge the global economic challenges that have emerged in recent years. The Russia-Ukraine war has disrupted the chances of global economic recovery from the COVID-19 pandemic, leading to economic sanctions, surging commodity prices, and supply chain disruptions. These issues have caused inflation across goods and services, impacting many markets worldwide, including the short-read sequencing market.

Rising Prevalence of Genetic Diseases
One of the primary drivers of the short-read sequencing market is the rising prevalence of genetic diseases. Genetic diseases are conditions caused by abnormalities or mutations in an individual’s DNA or genes, leading to physical, developmental, or biochemical abnormalities that can significantly impact their health and well-being. Short-read sequencing plays a crucial role in analyzing the genome and identifying disease-associated variants comprehensively.

For instance, the report from MedlinePlus in 2021 highlighted that syndrome A affects about 1 in 200,000 Americans each year, with approximately 100,000 children suffering from syndrome B. Moreover, nearly 12,000 people died globally from syndrome C in 2020, and approximately 1% of people in the United States develop disorder D during their lifetimes. This data underscores the growing prevalence of genetic diseases and the need for advanced sequencing technologies to understand and address these conditions, driving the growth of the short-read sequencing market.

Technology Advancements Fueling Growth
Technology advancements are a key trend gaining popularity in the short-read sequencing market. Major companies in the field are consistently focused on advancing their sequencing technologies to improve accuracy and sustain their competitive edge. For example, in October 2022, Pacific Biosciences Inc, a US-based producer of highly accurate sequencing technologies, launched external beta testing of the Onso sequencing system. This system is designed to provide precise data while also being cost-effective, particularly tailored for oncology researchers seeking sensitive and specific targeted sequence analysis findings.

Short Read Sequencing Market Segmentation
The global short-read sequencing market is divided into various segments, including:

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/ Immune System Monitoring

5) By End Users:

• Academic Research
• Hospitals and Clinics
• Clinical Research
• Pharmaceutical and Biotechnology Companies

Regional Trends
In 2022, North America emerged as the largest region in the short-read sequencing market, reflecting the region’s significant role in this industry. On the other hand, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The continued growth in genetic research, clinical investigations, and applications of short-read sequencing technologies are driving the market’s expansion in this dynamic region.

View More On The Short Read Sequencing Market Report 2023 – https://www.thebusinessresearchcompany.com/report/short-read-sequencing-global-market-report

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The Short Read Sequencing Global Market Report 2023  provides an in-depth analysis on the short read sequencing market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the short read sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Next Generation Sequencing Global Market Report 2023
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