Global Short Read Sequencing Market Growth 2024, Forecast To 2033
8 Mar, 2024
The short read sequencing market has seen rapid growth, with a size of $5.74 billion in 2023, expected to grow to $6.82 billion in 2024, at a CAGR of 18.9%. This growth is fueled by factors such as precision medicine advancements and expanding applications in agriculture. Looking ahead, the market is forecasted to reach $12.97 billion in 2028, with a CAGR of 17.4%, driven by rising demand in emerging markets and advancements in sequencing technologies. Major trends include automation in high-throughput sequencing and integration of AI and machine learning.
Global Short Read Sequencing Market Key Driver
The short-read sequencing market is set to grow due to the rising prevalence of genetic diseases globally. Genetic diseases pose significant health challenges, necessitating advanced diagnostic tools like short-read sequencing. With data from organizations like RARE-X highlighting the extensive prevalence of rare diseases, there is a pressing need for accurate and efficient sequencing technologies, driving growth in the short-read sequencing market.
Get A Free Sample Of The Global Short Read Sequencing Market ReportGlobal Short Read Sequencing Market Segments
The short read sequencing market covered in this report is segmented –
1) Product:Instruments, Consumables, Services.
2) Technology:Next-Generation Sequencing, Sanger Sequencing.
3) Workflow:Pre-Sequencing, Sequencing, Data Analysis.
4) Application:Clinical Investigation, Oncology, Reproductive Health, Consumer Genomics, Agri genomics and Forensics, HLA Typing/ Immune System Monitoring.
5) End Users:Academic Research, Hospitals and Clinics, Clinical Research, Pharmaceutical and Biotechnology Companies.
By Geography: 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.
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.
Major Short Read Sequencing Industry Players
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.
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Short Read Sequencing Market Overview
Short-read sequencing, or next-generation sequencing (NGS), is a high-throughput DNA sequencing method that generates short fragments or reads of DNA sequences. It revolutionized genomics by enabling the rapid and cost-effective analysis of entire genomes and transcriptomes.