Short-Read Sequencing Market by Product (Instruments, Consumables, and Services), Workflow (Pre-Sequencing, Sequencing, and Data Analysis), Application (Whole Genome Sequencing, Whole Exome Sequencing, Targeted Sequencing & Resequencing, and Others), End Use (Academic & Research Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032

Short-read Sequencing Overview

Next-generation sequencing (NGS), commonly referred to as short-read sequencing, is a high-throughput DNA sequencing method that has transformed molecular biology and genomics. It produces billions to billions of small DNA sequences concurrently, enabling quick and economical study of DNA or RNA molecules. Getting the relevant DNA or RNA sample is the initial step. The sample might come from a variety of sources, including plants, microbes, human or animal tissues, and plants. To get rid of impurities, the DNA or RNA is extracted and purified.

Global Short-read Sequencing Market Analysis

The global short-read sequencing market size was $5.4 billion in 2022 and is predicted to grow with a CAGR of 18.3%, by generating a revenue of $28.9 billion by 2032.

COVID-19 Impact on Global Short-read Sequencing Market

Due to the pandemic's disruption of global supply networks and financial unpredictability, research initiatives were delayed and funds were limited. The acceptance and investment in short-read sequencing technology may have been hampered by the operational difficulties and resource constraints that many academic institutions and research labs experienced.

The COVID-19 pandemic brought to light the value of genomes and sequencing in comprehending infectious illnesses and creating efficient medicines and diagnostics. As researchers and healthcare professionals increasingly see the utility of genomics in fields like personalised medicine, cancer research, agriculture, and microbiology, these increased knowledge and acceptance of sequencing technologies are expected to continue after the pandemic.

Advancements in Sequencing Technologies to Drive the Market Growth

The market for short-read sequencing has been significantly fueled by the ongoing developments in sequencing technologies. New platforms have boosted sequencing capacity, decreased cost per base, and enhanced data quality. Examples include Illumina's HiSeq and NovaSeq systems. Short-read sequencing now has more uses and capacities thanks to technological advancements like single-cell sequencing and long-read sequencing, which has further fueled industry expansion. Over time, sequencing costs have dropped significantly, making sequencing technology more widely accessible. For researchers, clinical laboratories, and other end users, sequencing is now more accessible and inexpensive because to the decreased cost per base. Short-read sequencing has been widely adopted in a variety of sectors, including genomics, agriculture, and microbiology, thanks to its cost.

Data Management and Analysis to Restrain Market Growth

Even if the price of short-read sequencing has drastically dropped over the years, certain researchers and organisations may still find it to be a barrier. Sequencing platforms and related equipment can need a substantial initial cost outlay. The price of reagents and consumables, data storage, and bioinformatics analysis are additional costs that could be included in the overall cost. Short-read sequencing adoption may be hampered by economic considerations, particularly in environments with constrained resources or for researchers with restricted funding. Large volumes of data are produced by short-read sequencing, and maintaining and analysing this data can be difficult. Sequencing data might have significant storage and processing needs, necessitating a strong computational environment and knowledge of bioinformatics analysis.

Advancements in Sequencing Technologies to Drive Excellent Opportunities

Short-read sequencing technologies will continue to progress, resulting in increased expansion and usage. Future research may concentrate on increasing read lengths, throughput, and cost per base, as well as improving sequencing accuracy. Short-read sequencing has the potential to expand its capabilities and get around some of the present constraints by utilising emerging technologies like nanopore sequencing and single-molecule sequencing. Short-read sequencing has some limits, and long-read sequencing technologies overcome these problems by producing significantly longer DNA fragments. Combining short-read and long-read sequencing methods can provide a more thorough understanding of complicated genomic areas, genomic architecture, and structural changes.

Global Short-read Sequencing Market Share, by Product, 2022

The consumables sub-segment accounted for the highest share in 2022. Consumables are significantly influenced by the expanding use of short-read sequencing technology in a variety of industries, including genomics, clinical diagnostics, agriculture, and research. Consumables such sequencing reagents, adapters, library preparation kits, and flow cells are in higher demand as more researchers and institutions incorporate short-read sequencing into their workflows. Short-read sequencing methods are now more accessible and widely used as a result of the falling cost of sequencing. More researchers and institutions are able to fund sequencing projects as the price per base continues to drop, which in turn raises demand for consumables.

Global Short-read Sequencing Market Share, by Workflow, 2022

The sequencing sector accounted for the highest market size in 2022. The demand for sequencing technology is driven by ongoing improvements in sequencing platforms. The broad adoption of short-read sequencing has been greatly aided by the development of platforms that are more effective, accurate, and affordable, like as Illumina's NovaSeq, HiSeq, and MiSeq systems. As read length, throughput, and data quality of sequencing platforms increase, researchers and institutions look to update or buy the newest technologies to boost their sequencing capabilities.

Global Short-read Sequencing Market Share, by Application, 2022

The targeted sequencing & resequencing sector accounted for the highest market size in 2022. By concentrating on certain regions of interest, targeted sequencing and resequencing provide a more affordable alternative to whole-genome sequencing (WGS). Researchers can drastically cut the quantity of sequencing necessary, cutting expenses, by selectively sequencing only the desired regions. Targeted sequencing and resequencing are appealing for large-scale studies and therapeutic applications because of their cost-effectiveness.

Global Short-read Sequencing Market Share, by End Use, 2022

The academic & research institutes sector accounted for the highest market size in 2022. The field of genomic research is being led by academic and research institutions, and short-read sequencing technologies are now essential resources for understanding the genome. There is a persistent need for short-read sequencing methods to produce huge amounts of genomic data as these institutes work to comprehend disease causes, unravel the complexity of the genome, and find genetic variants.

Global Short-read Sequencing Market Share, by Region, 2022

North America region accounted for the highest global market share in 2022. Due to the presence of top sequencing technology vendors, research centres, and clinical laboratories, the region commands a large market share. Recent years have seen consistent market expansion, driven by improvements in sequencing technology, increased genomics research, and growing use of sequencing in therapeutic settings.

Competitive Scenario in the Global Short-read Sequencing Market

Product development and geographic expansion are major strategies in the highly competitive global market. To increase the detection of somatic variants, QIAGEN partnered with SOPHiA GENETICS and introduced the QIAseq Platform Partnership programme in March 2023.

Some of the leading short-read sequencing market players are Illumina, Inc., Pacific Biosciences of California, Inc., Thermo Fisher Scientific, Inc., BGI, QIAGEN, Azenta US, Inc., Agilent Technologies, Psomagen, ProPhase Labs, Inc., and PerkinElmer, Inc.