Short-Read Sequencing Market Research Report Information By Product (Instruments, Consumables and Services), By Workflow (Pre-Sequencing, Sequencing and Data Analysis), By Application (Whole Genome Sequencing, Whole Exome Sequencing, Targeted Sequencing & Resequencing (-DNA-based, -RNA-based) and Others), By End-Use (Academic & Research Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

Global Short-Read Sequencing Market Overview

Short-Read Sequencing Market Size was valued at USD 5.6 Billion in 2022. The Short-Read Sequencing market industry is projected to grow from USD 6.7 Billion in 2023 to USD 27.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.20% during the forecast period (2024 - 2032). Increased demand for genomic data across various fields is one of the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Short-Read Sequencing Market Trends

• Growth in genomic research is driving the market growth

Market CAGR for Short-Read Sequencing is being driven by the growth in genomic research. With the increasing demand for comprehensive genetic data across diverse fields such as personalized medicine, agriculture, and evolutionary biology, short-read sequencing technologies have become indispensable tools. Researchers leverage these techniques to delve into genetic variations, disease mechanisms, and evolutionary patterns at an unprecedented scale and resolution. As genomic research expands, so does the need for efficient and cost-effective sequencing solutions, thus fueling the adoption of short-read sequencing platforms. This dynamic landscape fosters continuous innovation, driving the development of faster, more accurate, and scalable sequencing technologies to meet the evolving demands of genomic research across academia, industry, and clinical settings.

Rapid technological advancements are pivotal in propelling the Short-Read Sequencing Market forward. Continuous innovation in sequencing technologies, particularly next-generation sequencing (NGS) platforms, has revolutionized the field by enhancing sequencing speed, accuracy, and scalability. These advancements enable researchers to efficiently analyze genetic data with unprecedented depth and breadth, opening new frontiers in genomics, transcriptomics, and beyond. Faster turnaround times and reduced costs associated with these technologies have democratized access to sequencing, attracting a broader range of users across academic, clinical, and industrial sectors. Moreover, ongoing technological improvements drive the development of novel applications and workflows, further expanding the market's potential. As short-read sequencing platforms evolve, they are increasingly integrated into research, diagnostics, drug discovery, and precision medicine initiatives, underscoring their indispensable role in advancing scientific knowledge and improving human health.

Bioinformatics advancements play a crucial role in driving the Short-Read Sequencing Market forward. As the volume and complexity of sequencing data continue to increase exponentially, sophisticated bioinformatics tools and algorithms are essential for analyzing, interpreting, and managing this wealth of genetic information. Advancements in bioinformatics enable researchers to extract meaningful insights from short-read sequencing data, such as identifying genetic variations, predicting gene functions, and unraveling complex biological pathways. These tools enhance the efficiency, accuracy, and scalability of genomic data analysis, empowering researchers to address diverse research questions and accelerate scientific discoveries. Moreover, bioinformatics advancements facilitate the development of customized solutions tailored to specific applications and research needs, thereby expanding the market's potential and driving adoption across academic, clinical, and industrial sectors. As bioinformatics continues to evolve, it will remain a critical driver of innovation and growth in the Short-Read Sequencing Market. Thus, driving the Short-Read Sequencing market revenue.

For instance, the Element Biosciences unveiled technical specifications for its highly anticipated Aviti DNA sequencer. The novel benchtop device utilizes a variation of sequencing-by-synthesis chemistry, which, according to Element, minimizes reagent consumption, resulting in an estimated cost of around USD 7 per Gb.

Short-Read Sequencing Market Segment Insights

Short-Read Sequencing Product Insights

The Short-Read Sequencing Market segmentation, based on product, includes Instruments, Consumables and Services. In 2023, the Instruments segment dominated the market, accounting for 30% of market revenue due to their critical role in facilitating the sequencing process. Advancements in sequencing platforms, such as next-generation sequencing (NGS) instruments, offer high throughput, accuracy, and scalability, making them indispensable tools for genomic research, clinical diagnostics, and drug discovery. Additionally, ongoing innovations in instrument design, automation, and data analysis capabilities enhance their efficiency and usability, further solidifying their dominance in the market.

Consumables are experiencing the highest compound annual growth rate (CAGR) in the Short-Read Sequencing Market due to their recurring nature and essential role in the sequencing workflow. With the increasing adoption of short-read sequencing technologies across various sectors, there is a continuous demand for consumables such as reagents, cartridges, and sample preparation kits. Additionally, advancements in consumable technologies, such as reagent efficiency and compatibility with different sequencing platforms, further drive their growth, reflecting their critical contribution to the sequencing process.

Figure 1: Short-Read Sequencing Market, by Product, 2023 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Short-Read Sequencing Workflow Insights

The Short-Read Sequencing Market segmentation, based on workflow, includes Pre-Sequencing, Sequencing and Data Analysis. In 2023, the Pre-Sequencing category generated the most income due to its pivotal role in preparing samples for sequencing. This segment encompasses various processes such as DNA extraction, library preparation, and target enrichment, which are essential for generating high-quality sequencing data. As researchers and clinicians prioritize the accuracy and reliability of sequencing results, investments in pre-sequencing technologies and services have surged, driving the dominance of this segment in the market.

The Sequencing Workflow segment is experiencing the highest compound annual growth rate (CAGR) in the Short-Read Sequencing Market due to several factors. Technological advancements have led to the development of faster, more accurate, and scalable sequencing platforms, driving the adoption of short-read sequencing technologies across various applications. Additionally, the increasing demand for high-throughput sequencing and comprehensive genomic analysis further propels the growth of this segment. Investments in sequencing workflow solutions continue to increase, contributing to its rapid CAGR.

Short-Read Sequencing Application Insights

The Short-Read Sequencing Market segmentation, based on application, includes Whole Genome Sequencing, Whole Exome Sequencing, Targeted Sequencing & Resequencing (-DNA-based, -RNA-based) and Others. In 2023, the Whole Genome Sequencing category generated the most income due to its broad range of applications across various sectors. WGS provides comprehensive insights into an organism's entire genome, enabling researchers to study genetic variations, identify disease-causing mutations, and understand complex biological processes. The versatility of WGS makes it indispensable for personalized medicine, agricultural genomics, and basic research. As demand for comprehensive genomic analysis continues to rise, WGS remains a preferred choice, driving its dominance in the market.

Whole Exome Sequencing (WES) Application is experiencing the highest compound annual growth rate (CAGR) in the Short-Read Sequencing Market due to its focused approach on sequencing the protein-coding regions of the genome. WES offers a cost-effective alternative to whole genome sequencing (WGS) while still providing valuable insights into genetic variations associated with diseases. Its ability to target clinically relevant regions makes it particularly attractive for clinical diagnostics, oncology research, and rare disease identification, driving its rapid growth in the market.

Short-Read Sequencing End-Use Insights

The Short-Read Sequencing Market segmentation, based on end-use, includes Academic & Research Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies and Others. In 2023, the Academic & Research Institutes category generated the most income due to its pivotal role in driving scientific discovery and innovation. These institutes have been at the forefront of genomic research, leveraging short-read sequencing technologies for a wide range of applications, including genomics, transcriptomics, and metagenomics. The demand for sequencing solutions is fueled by academic research projects, government grants, and collaborations with industry partners, solidifying the dominance of Academic & Research Institutes as the largest end-user segment in the market.

Hospitals & Clinics End-Use is experiencing the highest compound annual growth rate (CAGR) in the Short-Read Sequencing Market due to the increasing adoption of sequencing technologies for clinical diagnostics and personalized medicine. Short-read sequencing enables clinicians to identify genetic mutations associated with diseases, tailor treatments to individual patients, and enhance patient outcomes. As precision medicine approaches gain prominence, hospitals and clinics are investing in sequencing solutions to integrate genomic information into routine clinical practice, driving the rapid growth of this segment.

Short-Read Sequencing Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Short-Read Sequencing market area will dominate this market, which is a robust research ecosystem. North America dominates the Short-Read Sequencing Market due to several factors. The region boasts advanced healthcare infrastructure, a robust research ecosystem, and significant investments in genomic research and technology. Additionally, the presence of key market players and academic institutions drives innovation and adoption of short-read sequencing technologies. Moreover, favorable government initiatives, such as funding for research projects and precision medicine initiatives, further contribute to the region's leadership position in the market.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: SHORT-READ SEQUENCING MARKET SHARE BY REGION 2023 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Short-Read Sequencing market accounts for the second-largest market share due to the coupled with significant investments in healthcare. Europe holds the second-largest market share in the Short-Read Sequencing Market due to its strong presence of academic and research institutions, coupled with significant investments in healthcare and biotechnology. The region benefits from a well-established healthcare infrastructure, skilled workforce, and supportive regulatory environment conducive to genomic research and innovation. Moreover, collaborations between academia, industry, and government entities drive advancements in short-read sequencing technologies, further solidifying Europe's position in the market. Further, the German Short-Read Sequencing market held the largest market share, and the UK Short-Read Sequencing market was the fastest growing market in the European region.

The Asia-Pacific Short-Read Sequencing Market is expected to grow at the fastest CAGR from 2024 to 2032. The Asia Pacific region is experiencing the highest compound annual growth rate (CAGR) in the Short-Read Sequencing Market due to several factors. Rapid economic development, increasing healthcare expenditure, and growing investments in biotechnology research are driving the adoption of short-read sequencing technologies across various sectors. Moreover, the region's large population base, rising prevalence of genetic disorders, and expanding pharmaceutical and biotechnology industries contribute to the significant growth opportunities in the Asia Pacific short-read sequencing market. Moreover, China’s Short-Read Sequencing market held the largest market share, and the Indian Short-Read Sequencing market was the fastest growing market in the Asia-Pacific region.

Short-Read Sequencing Key Market Players & Competitive Insights

Leading players are focusing in the Short-Read Sequencing Market, on innovation, strategic partnerships, and expansion efforts. Companies like Illumina, Thermo Fisher Scientific, and Oxford Nanopore Technologies are investing in R&D to market developments in advanced sequencing platforms with improved speed, accuracy, and cost-effectiveness. Additionally, strategic collaborations and acquisitions are employed to expand market reach and enhance product portfolios. These players are also investing in customer support services and marketing initiatives to maintain their competitive edge in the market.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Short-Read Sequencing industry to benefit clients and increase the market sector. In recent years, the Short-Read Sequencing industry has offered some of the most significant advantages to instruments. Major players in the Short-Read Sequencing market, including Illumina, Inc., Thermo Fisher Scientific, Inc., Pacific Biosciences of California, Inc., BGI, QIAGEN, Agilent Technologies, PerkinElmer, Inc., ProPhase Labs, Inc., Psomagen, Azenta US Inc. and others, are attempting to increase market demand by investing in research and development operations.

Thermo Fisher Scientific Inc. is a global leader in providing analytical instruments, laboratory equipment, reagents, consumables, software, and services for scientific research, healthcare, and applied markets. The company operates through four business segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services. In the field of short-read sequencing, Thermo Fisher Scientific offers a range of innovative products and solutions, including next-generation sequencing (NGS) platforms, library preparation kits, sequencing reagents, and bioinformatics software. With a focus on quality, reliability, and customer satisfaction, Thermo Fisher Scientific continues to drive advancements in genomic research, clinical diagnostics, and drug discovery, catering to the diverse needs of researchers, clinicians, and biotechnology companies worldwide.

Illumina, Inc. is a leading provider of DNA sequencing and array-based technologies, offering a broad portfolio of products and services for genetic analysis. The company's innovative sequencing platforms, including the NovaSeq, NextSeq, and MiSeq systems, enable researchers, clinicians, and pharmaceutical companies to conduct a wide range of genomic applications, from basic research to clinical diagnostics and personalized medicine. Illumina's comprehensive product offering encompasses sequencing instruments, reagents, consumables, and bioinformatics software, providing end-to-end solutions for genomics research and analysis. With a commitment to driving scientific advancements and improving human health, Illumina continues to push the boundaries of genomic technology, empowering customers to unlock the potential of the genome in understanding disease, developing novel therapies, and advancing precision medicine.

Key Companies in the Short-Read Sequencing market include

• Illumina, Inc.


• Thermo Fisher Scientific, Inc.


• Pacific Biosciences of California, Inc.


• BGI


• QIAGEN


• Agilent Technologies


• PerkinElmer, Inc.


• ProPhase Labs, Inc.


• Psomagen


• Azenta US Inc.

Short-Read Sequencing Industry Developments

October 2022: PacBio recently unveiled two genome sequencing platforms: the Revio long-read sequencing system and the Onso short-read sequencing system. The Revio system incorporates deep-learning techniques to identify DNA methylation patterns directly from standard sequencing libraries.

September 2022: Illumina Inc. introduced the NovaSeq X Series, consisting of the NovaSeq X and NovaSeq X Plus, which are advanced next-generation sequencers designed to enhance sequencing speed, capabilities, and sustainability.

Short-Read Sequencing Market Segmentation

Short-Read Sequencing Product Outlook

• Instruments


• Consumables


• Services

Short-Read Sequencing Workflow Outlook

• Pre-Sequencing


• Sequencing


• Data Analysis

Short-Read Sequencing Application Outlook

• Whole Genome Sequencing


• Whole Exome Sequencing


• Targeted Sequencing & Resequencing
  
  
  
  • -DNA-based
  
  
  • -RNA-based
  
  
  
  


• Others

Short-Read Sequencing End-Use Outlook

• Academic & Research Institutes


• Hospitals & Clinics


• Pharmaceutical & Biotechnology Companies


• Others

Short-Read Sequencing Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America