Short Read Sequencing Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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How has the short read sequencing market size evolved in recent years?
The market size for short read sequencing has witnessed a swift expansion recently. Projects starting at $6.66 billion in 2024, it’s projected to surge to $7.86 billion in 2025 with an 18.0% compound annual growth rate (CAGR). The growth during the historical period can be associated with factors such as initiatives in genomic research, rising incidents of genetic disorders, research in pharmaceuticals and biotechnology, diagnostic applications, and falling costs of sequencing.
What are the predictions for the short read sequencing market size in the coming years?
In the coming years, the short read sequencing market is projected to witness swift expansion. The market size is anticipated to reach $15.21 billion by 2029, with a compound annual growth rate (CAGR) of 17.9%. The observed growth in this period is due to progress in precision medicine, swift expansion in personalized genomics, broader applications in agriculture, an increase in microbiome research, and rising demand in emerging markets. Key trends that will shape the forecast period include automation and high throughput, cloud-based solutions, the incorporation of artificial intelligence and machine learning, mobile sequencing technologies, and the synergy of long-read sequencing.
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What key factors are fueling the growth of the short read sequencing market?
The increasing incidences of genetic illnesses are predicted to fuel the expansion of the short-read sequencing market in the future. Genetic disorders, which are marked by abnormalities or mutations in a person’s genes or DNA, result in physical, developmental, or biochemical issues affecting their health and general well-being. Short-read sequencing is utilized in the diagnosis of genetic disorders to carry out a comprehensive analysis of the genome and detect disease-related variants. Take for example a report from RARE-X, an Australian patient assistance platform, in June 2022, which reported a total of 10,867 rare diseases, including both genetic and non-genetic conditions. Hence, the escalating rates of genetic disorders are catalyzing the growth of the short-read sequencing market.
How is the global short read sequencing market divided into key segments?
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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Who are the key firms paving the way for growth 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
Which trends are expected to transform the short read sequencing market?
Technological development is becoming a central trend in the short-read sequencing field. Leading players in this market are directing their focus on advancing their technologies, with the aim of enhancing their observational prowess and maintaining their market status. In a specific example from October 2022, Pacific Biosciences Inc., a renowned US brand known for its exceptional and highly precise sequencing technologies, began external beta testing for the Onso sequencing system. This system was created with the aim of delivering accurate data in a cost-effective manner. The short-read sequencing system was also created to provide sensitive and specific targeted sequence analysis results to researchers in the field of oncology.
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What regions are contributing significantly to the growth of 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.
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