Short-read Sequencing Market Size & Share, By Product (Instruments, Consumables), Workflow, Application, End-Use, Regional Forecast, Industry Players, Growth Statistics Report 2023-2030

Market Outlook:

Short Read Sequencing Market size surpassed USD 5.03 Billion in 2022 and is poised to reach USD 20.53 Billion, growing at over 21.22% CAGR between 2023 and 2030. This market segment is witnessing increased adoption across various industries such as research institutions, pharmaceutical companies, diagnostic laboratories, and academic centers. Short read sequencing technology enables rapid sequencing of millions of short DNA fragments, playing a crucial role in genomics, transcriptomics, and epigenomics research.

• Base Year Value (2022): USD 5.03 Billion
• CAGR (2023-2030): 21.2%
• Forecast Year Value (2030): USD 20.53 Billion
• Historical Data Period: 2018-2021
• Largest Region: North America
• Forecast Period: 2023-2030

Market Dynamics:

Growth Drivers & Opportunities:

One of the primary growth drivers of the short read sequencing market is the increasing demand for personalized medicine and precision diagnostics. Short read sequencing facilitates the identification and understanding of genetic variations associated with diseases and enables targeted treatment approaches. Moreover, the decreasing cost of sequencing and technological advancements have made it more accessible and feasible for a wider range of applications.

Another significant driving factor is the continuous advancements in genetic research and the development of novel sequencing platforms. Increasing research activities, particularly in areas such as cancer genomics, rare diseases, and infectious diseases, are driving the demand for short read sequencing technologies.

Additionally, the rising prevalence of genetic disorders and the urgent need for early diagnosis and effective treatment are fueling the growth of the short read sequencing market. The ability to accurately detect and analyze genetic abnormalities, such as mutations or deletions, has significant implications for early disease detection and management.

 

Industry Restraints & Challenges:

Report Scope

Report Coverage	Details
Segments Covered	Product, Workflow, Application, End-Use, Region
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Illumina, Thermo Fisher Scientific, Pacific Biosciences of California, BGI, QIAGEN, Agilent Technologies, PerkinElmer, ProPhase Labs, (Nebula Genomics), Psomagen, Azenta US, (GENEWIZ)

Despite the market's promising growth potential, there are certain restraints and challenges that need to be addressed. One of the major challenges is the complexity and scalability of data analysis. Short read sequencing generates large volumes of data, requiring sophisticated computational tools and bioinformatics capabilities for accurate interpretation. The need for skilled professionals who can efficiently analyze and interpret sequencing data poses a challenge to the market's growth.

Furthermore, the lack of standardization in sequencing protocols and data analysis pipelines hinders the seamless integration of short read sequencing into clinical practice. Establishing standardized protocols and analytical methods will be crucial in ensuring reproducibility and reliability of results.

Moreover, the ethical and legal concerns surrounding genetic privacy and data security present additional challenges. As short read sequencing becomes more widespread, protecting individual privacy and securing sensitive genetic data will require stringent regulations and robust data protection measures.

In conclusion, the short read sequencing market is poised for significant growth in the coming years, driven by increasing demand for personalized medicine, technological advancements, and the rise in genetic research activities. However, addressing challenges related to data analysis, standardization, and data security will be vital to unlocking the market's full potential.

Regional Forecast:

The global Short Read Sequencing Market is anticipated to experience substantial growth across different regions, including North America, Asia Pacific, and Europe.

North America:

This region is expected to dominate the market due to the increasing adoption of Next-Generation Sequencing (NGS) technologies and the presence of well-established healthcare infrastructure. The rising prevalence of chronic diseases, along with the active involvement of government initiatives in advancing genetic research and personalized medicine, has propelled the expansion of the short-read sequencing market in North America.

Asia Pacific:

The short-read sequencing market in Asia Pacific is expected to witness rapid growth during the forecast period. Factors such as the increasing geriatric population, rising healthcare expenditure, and advancements in the field of genomics have contributed to the expansion of the market in this region. Additionally, the growing awareness about cancer genomics and the availability of cost-effective sequencing solutions have further propelled market growth in Asia Pacific.

Europe:

Europe is projected to hold a significant share in the short-read sequencing market owing to the increasing demand for NGS technologies in clinical diagnostics, research, and drug discovery. The region also benefits from the presence of key market players and the availability of innovative genomic technologies. Moreover, favorable government policies and increasing investment in genomic research are expected to drive market growth in Europe.

Segmentation Analysis:

- Technology Segment:

The short-read sequencing market can be segmented based on technology into Illumina Sequencing, Ion Semiconductor Sequencing, and others. Among these, Illumina Sequencing holds the largest market share. Illumina sequencing technology effectively utilizes reversible terminators, allowing the read lengths to be increased, making it an ideal choice for several applications such as whole-genome sequencing, transcriptomics, and exome sequencing.

- Application Segment:

The short-read sequencing market can be categorized based on applications into drug discovery, clinical diagnostics, agricultural applications, and others. Clinical diagnostics, as a sub-segment, is witnessing significant growth due to the increasing adoption of sequencing technologies for the diagnosis of genetic disorders, infectious diseases, and cancer. The ability of short-read sequencing to provide rapid and precise results has made it a preferred choice in clinical settings.

- End-User Analysis:

The market can be segmented based on end-users into hospitals and clinics, research centers, pharmaceutical and biotechnology companies, and others. Research centers, as a sub-segment, dominate the market due to the extensive use of short-read sequencing technologies in genome research, genetic studies, and drug development. The increasing demand for personalized medicine and advancements in genomic medicine have further contributed to the growth of this sub-segment.

Competitive Landscape:

The short-read sequencing market is highly competitive, with several key players vying for market share. Some prominent players in the market include Illumina, Thermo Fisher Scientific, Pacific Biosciences, Oxford Nanopore Technologies, and Roche. These companies focus on research and development activities, strategic partnerships, mergers and acquisitions, and product innovations to maintain their market position. The intense competition among these market players is expected to drive technological advancements, further propelling market growth.