PUBLISHER: The Business Research Company | PRODUCT CODE: 1428006
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428006
Short-read sequencing, also known as next-generation sequencing (NGS), is a high-throughput DNA sequencing technique that produces short fragments or reads of DNA sequences. It has revolutionized genomics by facilitating the rapid and cost-effective analysis of entire genomes and transcriptomes.
The primary product categories in short-read sequencing comprise instruments, consumables, and services. Short-read sequencing instruments are the platforms or machines employed to generate short DNA fragments for analysis, allowing for the identification of genetic variations, mutations, and gene expression levels. Various technologies, including next-generation sequencing and Sanger sequencing, are utilized in workflows such as pre-sequencing, sequencing, and data analysis. These applications find use in clinical investigation, oncology, reproductive health, consumer genomics, agri genomics, forensics, HLA typing, and immune system monitoring. End users of short-read sequencing encompass academic research, hospitals and clinics, clinical research, and pharmaceutical and biotechnology companies.
The short-read sequencing market research report is one of a series of new reports from The Business Research Company that provides short-read sequencing statistics, including short-read sequencing industry global market size, regional shares, competitors with a short-read sequencing market share, detailed short-read sequencing market segments, market trends, and opportunities, and any further data you may need to thrive in the short-read sequencing industry. This short-read sequencing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The short read sequencing market size has grown rapidly in recent years. It will grow from $5.74 billion in 2023 to $6.82 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth observed in the historical period can be attributed to initiatives in genomic research, a higher prevalence of genetic disorders, research activities in the pharmaceutical and biotechnology sectors, applications in diagnostics, and the decreasing costs associated with sequencing.
The short read sequencing market size is expected to see rapid growth in the next few years. It will grow to $12.97 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The projected growth in the forecast period can be attributed to advancements in precision medicine, the rapid expansion of personalized genomics, increasing applications in agriculture, a surge in microbiome research, and a rising demand in emerging markets. Key trends anticipated in the forecast period encompass automation and high-throughput technologies, the adoption of cloud-based solutions, integration of AI and machine learning, the development of portable sequencing technologies, and the synergy of long-read sequencing.
The anticipated increase in the prevalence of genetic diseases is set to drive the growth of the short-read sequencing market in the foreseeable future. Genetic diseases arise from abnormalities or mutations in an individual's DNA or genes, leading to physical, developmental, or biochemical irregularities that can impact their health. Short-read sequencing is instrumental in the analysis of genomes for identifying disease-associated variants comprehensively. For instance, a report by RARE-X in June 2022 highlighted a total of 10,867 rare diseases, encompassing both genetic and non-genetic conditions. Therefore, the growing prevalence of genetic diseases is a key driver behind the expansion of the short-read sequencing market.
The increasing adoption of personalized medicine is a significant contributor to the anticipated growth of the short-read sequencing market. Personalized medicine customizes medical treatment based on an individual's unique genetic makeup, providing more effective and precise healthcare interventions. Short-read sequencing plays a pivotal role in identifying genetic variations influencing drug response, facilitating the development of personalized treatment plans. For example, data from the Personalized Medicine Coalition in January 2023 indicated that out of the 37 new molecular entities approved by the Food and Drug Administration's Center for Drug Evaluation and Research in 2022, approximately 34%, or 12 of them, are classified as personalized medicines. Hence, the increasing adoption of personalized medicine is poised to drive the short-read sequencing market.
Technological advancements emerge as a key trend gaining momentum in the short-read sequencing market. Major companies in this market are focusing on technological advancements to enhance observation capabilities and maintain their positions. In October 2022, Pacific Biosciences Inc., a US-based producer of highly accurate sequencing technologies, initiated external beta testing of the Onso sequencing system. This system was designed to offer precise data while remaining cost-effective, catering to the needs of oncology researchers for sensitive and specific targeted sequence analysis findings.
Major companies operating in the short-read sequencing market are concentrating on the development of cost-effective short-read sequencers, specifically production-scale sequencers, to efficiently serve their users. Production-scale sequencers are high-throughput DNA sequencing platforms designed for large-scale genomic analysis in fields such as genomics, agriculture, and clinical research. For instance, Illumina, a US-based biotechnology company, launched the NovaSeq X Series in October 2022. This new technology, comprising NovaSeq X and NovaSeq X Plus, features production-scale sequencers designed to advance genomic medicine, providing faster, more powerful, and sustainable sequencing. The NovaSeq X Plus, capable of sequencing over 20,000 whole genomes per year, accelerates genomic discovery and clinical insights, while also demonstrating Illumina's commitment to reducing waste and environmental impact.
In September 2021, Pacific Biosciences of California, Inc., a US-based biotechnology company, acquired Omniome Inc. for $800 million. This strategic acquisition enhances Pacific Biosciences' portfolio by positioning the company as the sole provider of highly accurate long-read and short-read sequencing technologies. Omniome Inc. is a US-based biotechnology company specializing in highly accurate native long-read and short-read sequencing platforms.
Major companies operating in the short read sequencing market report are 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, GnuBIO Inc., Paragon Genomics Inc., Nabsys Inc., GATC Biotech AG, Halcyon Molecular Inc.
North America was the largest region in the Short Read Sequencing market in 2023. 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.
The countries covered in the short read sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The short-read sequencing market includes revenues earned by entities by providing short-read sequencing services such as sequencing services, bioinformatics, sample processing, sequencing runs, data generation, and analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The short-read sequencing market also consists of sales-related products such as sequencing instruments, reagents, and consumables. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Short Read Sequencing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on short read sequencing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for short read sequencing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The short read sequencing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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