The Short Read Sequencing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Short Read Sequencing Global Market Report 2024, 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 in the historic period can be attributed to genomic research initiatives, increased prevalence of genetic disorders, pharmaceutical and biotech research, diagnostic applications, declining sequencing costs..
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 growth in the forecast period can be attributed to precision medicine advancements, rapid growth in personalized genomics, expanding applications in agriculture, surge in microbiome research, rising demand in emerging markets.. Major trends in the forecast period include automation and high-throughput, cloud-based solutions, integration of ai and machine learning, portable sequencing technologies, long-read sequencing synergy..
The rising prevalence of genetic diseases is expected to propel the growth of the short-read sequencing market going forward. 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 impact their health and well-being. Short-read sequencing is used in genetic diseases to analyze the genome and identify disease-associated variants comprehensively. For instance, in June 2022, according to a report published by RARE-X, an Australia-based patient support platform, there were a total of 10,867 rare diseases, encompassing both genetic and non-genetic conditions. Therefore, the rising prevalence of genetic diseases is driving the growth of the short-read sequencing market.
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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/ Immune System Monitoring.
5) By End Users: Academic Research, Hospitals and Clinics, Clinical Research, Pharmaceutical and Biotechnology Companies.
Technology advancements are the key trend gaining popularity in the short-read sequencing market. Major companies involved in the short-read sequencing market are focused on technology advancements to improve their observation power and sustain their position in the market. For instance, in October 2022, Pacific Biosciences Inc, a US-based producer of excellent, highly accurate sequencing technologies, launched external beta testing of the Onso sequencing system. The system was designed to provide precise data while also being cost-effective. The short-read platform was developed to give oncology researchers sensitive and specific targeted sequence analysis findings.
The short read sequencing market report table of contents includes:
1. Executive Summary
2. Short Read Sequencing Market Characteristics
3. Short Read Sequencing Market Trends And Strategies
4. Short Read Sequencing Market analysis
5.Short Read Sequencing Market Size And Growth
6. Short Read Sequencing Segmentation
7. Short Read Sequencing Regional And Country Analysis
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27. Short Read Sequencing Competitive Landscape And Company Profiles
28.Short Read Sequencing Key Mergers And Acquisitions
29.Short Read Sequencing Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- F. Hoffmann-La Roche AG
- Thermo Fisher Scientific Inc.
- GE HealthCare Technologies Inc.
- Cytiva Lifesciences
- Eurofins Scientific SE,
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