Short-read Sequencing Market Size, Share & Trends Analysis Report By Product (Instruments, Consumables), By Workflow, By Application, By End-Use, By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global short-read sequencing market size was exhibited at USD 5.85 billion in 2022 and is projected to hit around USD 31.86 billion by 2032, growing at a CAGR of 18.47% during the forecast period 2023 to 2032.

Short-read Sequencing Market

Key Pointers:

  • The Consumables segment held the major share of 62.65% of the short-read sequencing industry in 2022.
  • The services segment is expected to become the fastest-growing segment in the short-read sequencing industry by 2032. It is expected to grow at a CAGR of 21.98% between 2023 and 2032.
  • The sequencing segment accounted for the largest market share of 56.72% in the workflow segment in 2022. 
  • Data Analysis is projected to be the fastest-growing segment in the short-read sequencing industry and is expected to grow at a CAGR of 20.53% between 2023 and 2032. 
  • The academic & research institutes segment accounted for the largest market share of 48.69% in 2022
  • The targeted sequencing & resequencing segment had the largest market share of 68.25% in 2022.
  • North America accounted for the largest share of the short-read sequencing industry in 2022 and accounted for around 49.78% of the market size.
  • Asia Pacific is estimated to grow at the fastest rate during the forecast period. 

Short-read Sequencing Market Report Scope

Report Coverage Details
Market Size in 2023 USD 6.93 Billion
Market Size by 2032 USD 31.86 Billion
Growth Rate from 2023 to 2032 CAGR of 18.47%
Base year 2022
Forecast period 2023 to 2032
Segments covered Product, workflow, Application, End-use
Regional scope North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa
Key companies profiled Illumina, Inc.; Thermo Fisher Scientific, Inc.; Pacific Biosciences of California, Inc.; BGI; QIAGEN; Agilent Technologies; PerkinElmer, Inc.; ProPhase Labs, Inc. (Nebula Genomics); Psomagen; Azenta US, Inc. (GENEWIZ)

 

Increasing demand for personalized medicine and companion diagnostics is anticipated to boost the industry growth. Short reads are generated massively in a single run and the technology is easy to use and inexpensive. These advantages are projected to further fuel growth. Moreover, the COVID-19 pandemic involved increased exposure to the new strains of the SARS-CoV-2 virus which displayed a high level of contagiousness and resistance to drugs and treatment. Early detection of the virus variant lineage was essential to treat the viral infection and improve public health prospects. Although the market was negatively affected in 2020 due to the lockdown strictures, genome sequencing methods witnessed robust demand for virus characterization and this had a positive impact on the global short-read sequencing industry in 2021. In addition, the pandemic led to increased awareness about short-read techniques, which coupled with the development of cost-effective genome sequencing approaches is expected to boost the market revenue.

The increase in demand and usage of cancer therapeutics has significantly enhanced the adoption of short-read technologies for companion diagnostics. Short-read sequencing is a rapid method for the detection of genetic abnormalities. It is useful in the diagnosis of genetic deformities. Moreover, the high throughput nature of the short-reads enables the sequencing of millions of genome fragments simultaneously in each run, which is projected to drive the adoption of short-read sequencing-based approaches. These methods are also considered to be an ideal choice for targeted therapies and precision medicine due to the competence of short-read platforms to measure different biomarkers and map genomic sequences in a single test.

Strategic initiatives undertaken by key market players are expected to boost the market in the near future. For instance, in June 2022, Element Biosciences launched its AVITI 150-Cycle Sequencing Kit, designed for short-read sequencing applications including single-cell RNA-seq, and bulk RNA-seq, among others.

The increase in the demand for drug discovery and development for chronic illnesses such as cancer boosts the demand for short-read technologies. Similarly, a rise in the R&D for genomic research drives the market. Moreover, increasing adoption of short-read techniques due to their cost-effectiveness and short run times boosts the global market. For instance, in October 2022, Illumina, Inc. launched the NovaSeq X sequencing system for genomic and clinical discoveries generating 20000+ genomes per year. The cost of the machine was reduced to USD 200.

Some of the prominent players in the Short-read Sequencing Market include:

  • Illumina, Inc.
  • Thermo Fisher Scientific, Inc.
  • Pacific Biosciences of California, Inc.
  • BGI
  • QIAGEN
  • Agilent Technologies
  • Psomagen
  • Azenta US, Inc. (GENEWIZ)
  • PerkinElmer, Inc.
  • ProPhase Labs, Inc. (Nebula Genomics)

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Short-read Sequencing market.

By Product 

  • Instruments
  • Consumables
  • Services

By Workflow 

  • Pre-Sequencing
  • Sequencing
  • Data Analysis

By Application 

  • Whole Genome Sequencing
  • Whole Exome Sequencing
  • Targeted Sequencing & Resequencing
    • DNA-based
    • RNA-based
  • Others

By End-Use 

  • Academic & Research Institutes
  • Hospitals & Clinics
  • Pharmaceutical & Biotechnology Companies
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

The global short-read sequencing market size was exhibited at USD 5.85 billion in 2022 and is projected to hit around USD 31.86 billion by 2032,

The global short-read sequencing market is expected to grow at a compound annual growth rate of 18.47% from 2023 to 2032

Targeted sequencing & resequencing dominated the short read sequencing market with a share of 68.25% in 2022. This is because this technology serves as a rapid and cost-effective method for the detection of genetic abnormalities.

Some key players operating 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. (Nebula Genomics); Psomagen; Azenta US, Inc. (GENEWIZ)

Key factors that are driving the market growth include higher adoption of short-read sequencing over long read sequencing, decrease in cost for genetic sequencing, rise in adoption of personalized medicine and companion diagnostics, and rise in collaborations & partnerships for genetic sequencing.

Chapter 1. Methodology and Scope
                   1.1. Information Procurement
                   1.2. Information or Data Analysis
                   1.3. Market Scope & Segment Definition
                   1.4. Market Model
                       1.4.1. Market Study, By Company Market Share
                       1.4.2. Regional Analysis
Chapter 2. Executive Summary
                   2.1. Market Snapshot
                   2.2. Segment Snapshot
                   2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
                   3.1. Market Segmentation and Scope
                   3.2. Market Lineage Outlook
                       3.2.1. Parent Market Outlook
                       3.2.2. Related/Ancillary Market Outlook
                   3.3. Market Trends and Outlook
                   3.4. Market Dynamics
                       3.4.1. Increasing adoption of Short-read sequencing due to its cost - effectiveness and short run times
                       3.4.2. Decreasing costs for genetic sequencing
                       3.4.3. Rise in the adoption of Short-read sequencing for personalized medicine and companion diagnostics
                   3.5. Market Restraint Analysis
                       3.5.1. Limitation of Short-read sequences to resolve complex genomic
                       3.5.2. Ethical and legal challenges associated with genomic sequencing
                   3.6. Penetration and Growth Prospect Mapping 2023
                   3.7. Business Environment Analysis
                       3.7.1. SWOT Analysis; By Factor (Political & Legal, Economic And Technological)
                       3.7.2. Porter’s Five Forces Analysis
                   3.8. COVID - 19 Impact Analysis
Chapter 4. Product Business Analysis
                   4.1. Short-read sequencing market: Product Movement Analysis
                   4.2. Instruments
                       4.2.1. Instruments Market, 2020 - 2032
                   4.3. Consumables
                       4.3.1. Consumables Market, 2020 - 2032
                   4.4. Services
                       4.4.1. Services Market, 2020 - 2032
Chapter 5. Workflow Business Analysis
                   5.1. Short-read sequencing market: Workflow Movement Analysis
                   5.2. Pre - Sequencing Market, 2020 - 2032
                   5.3. Sequencing
                       5.3.1. Sequencing Market, 2020 - 2032
                   5.4. Data Analysis
                       5.4.1. Data Analysis Market, 2020 - 2032
Chapter 6. Application Business Analysis
                   6.1. Short-read sequencing market: Application Movement Analysis
                   6.2. Whole Genome Sequencing
                       6.2.1. Whole Genome Sequencing Market, 2020 - 2032
                   6.3. Whole Exome Sequencing
                       6.3.1. Whole Exome Sequencing Market, 2020 - 2032
                   6.4. Targeted Sequencing & Resequencing
                       6.4.1. Targeted Sequencing & Resequencing Market, 2020 - 2032
                       6.4.2. DNA - based, Market, 2020 - 2032
                       6.4.3. RNA - based, Market, 2020 - 2032
                   6.5. Others
                       6.5.1. Others Market, 2020 - 2032
Chapter 7. End - Use Business Analysis
                   7.1. Short-read sequencing market: End - Use Movement Analysis
                   7.2. Academic & Research Institutes
                       7.2.1. Academic & Research Institutes Market, 2020 - 2032
                   7.3. Hospitals & Clinics
                       7.3.1. Hospitals & Clinics Market, 2020 - 2032
                   7.4. Pharmaceutical & Biotechnology Companies
                       7.4.1. Pharmaceutical & Biotechnology Companies Market, 2020 - 2032
                   7.5. Others
                       7.5.1. Others Market, 2020 - 2032
Chapter 8. Regional Business Analysis
                   8.1. Short-read Sequencing Market Share By Region, 2023 & 2032
                   8.2. North America
                       8.2.1. SWOT Analysis
                       8.2.2. North America Short-read Sequencing Market, 2020 - 2032
                       8.2.3. U.S.
                            8.2.3.1. Key Country Dynamics
                            8.2.3.2. Competitive Scenario
                            8.2.3.3. Regulatory Framework
                            8.2.3.4. U.S. Short-read Sequencing Market, 2020 - 2032
                       8.2.4. Canada
                            8.2.4.1. Key Country Dynamics
                            8.2.4.2. Competitive Scenario
                            8.2.4.3. Regulatory Framework
                            8.2.4.4. Canada Short-read Sequencing Market, 2020 - 2032
                   8.3. Europe
                       8.3.1. SWOT Analysis
                       8.3.2. Europe Short-read Sequencing Market, 2020 - 2032
                       8.3.3. Germany
                            8.3.3.1. Key Country Dynamics
                            8.3.3.2. Competitive Scenario
                            8.3.3.3. Regulatory Framework
                            8.3.3.4. Germany Short-read Sequencing Market, 2020 - 2032
                       8.3.4. U.K.
                            8.3.4.1. Key Country Dynamics
                            8.3.4.2. Competitive Scenario
                            8.3.4.3. Regulatory Framework
                            8.3.4.4. U.K. Short-read Sequencing Market, 2020 - 2032
                       8.3.5. France
                            8.3.5.1. Key Country Dynamics
                            8.3.5.2. Competitive Scenario
                            8.3.5.3. Regulatory Framework
                            8.3.5.4. France Short-read Sequencing Market, 2020 - 2032
                       8.3.6. Italy
                            8.3.6.1. Key Country Dynamics
                            8.3.6.2. Competitive Scenario
                            8.3.6.3. Regulatory Framework
                            8.3.6.4. Italy Short-read Sequencing Market, 2020 - 2032
                       8.3.7. Spain
                            8.3.7.1. Key Country Dynamics
                            8.3.7.2. Competitive Scenario
                            8.3.7.3. Regulatory Framework
                            8.3.7.4. Spain Short-read Sequencing Market, 2020 - 2032
                       8.3.8. Denmark
                            8.3.8.1. Key Country Dynamics
                            8.3.8.2. Competitive Scenario
                            8.3.8.3. Regulatory Framework
                            8.3.8.4. Denmark Short-read Sequencing Market, 2020 - 2032
                       8.3.9. Sweden
                            8.3.9.1. Key Country Dynamics
                            8.3.9.2. Competitive Scenario
                            8.3.9.3. Regulatory Framework
                            8.3.9.4. Sweden Short-read Sequencing Market, 2020 - 2032
                       8.3.10. Norway
                            8.3.10.1. Key Country Dynamics
                            8.3.10.2. Competitive Scenario
                            8.3.10.3. Regulatory Framework
                            8.3.10.4. Norway Short-read Sequencing Market, 2020 - 2032
                   8.4. Asia Pacific
                       8.4.1. SWOT Analysis
                       8.4.2. Asia Pacific Short-read Sequencing Market, 2020 - 2032
                       8.4.3. Japan
                            8.4.3.1. Key Country Dynamics
                            8.4.3.2. Competitive Scenario
                            8.4.3.3. Regulatory Framework
                            8.4.3.4. Japan Short-read Sequencing Market, 2020 - 2032
                       8.4.4. China
                            8.4.4.1. Key Country Dynamics
                            8.4.4.2. Competitive Scenario
                            8.4.4.3. Regulatory Framework
                            8.4.4.4. China Short-read Sequencing Market, 2020 - 2032
                       8.4.5. India
                            8.4.5.1. Key Country Dynamics
                            8.4.5.2. Competitive Scenario
                            8.4.5.3. Regulatory Framework
                            8.4.5.4. India Short-read Sequencing Market, 2020 - 2032
                       8.4.6. South Korea
                            8.4.6.1. Key Country Dynamics
                            8.4.6.2. Competitive Scenario
                            8.4.6.3. Regulatory Framework
                            8.4.6.4. South Korea Short-read Sequencing Market, 2020 - 2032
                       8.4.7. Australia
                            8.4.7.1. Key Country Dynamics
                            8.4.7.2. Competitive Scenario
                            8.4.7.3. Regulatory Framework
                            8.4.7.4. Australia Short-read Sequencing Market, 2020 - 2032
                       8.4.8. Thailand
                            8.4.8.1. Key Country Dynamics
                            8.4.8.2. Competitive Scenario
                            8.4.8.3. Regulatory Framework
                            8.4.8.4. Thailand Short-read Sequencing Market, 2020 - 2032
                   8.5. Latin America
                       8.5.1. SWOT Analysis
                       8.5.2. Latin America Short-read Sequencing Market, 2020 - 2032
                       8.5.3. Brazil
                            8.5.3.1. Key Country Dynamics
                            8.5.3.2. Competitive Scenario
                            8.5.3.3. Regulatory Framework
                            8.5.3.4. Brazil Short-read Sequencing Market, 2020 - 2032
                       8.5.4. Mexico
                            8.5.4.1. Key Country Dynamics
                            8.5.4.2. Competitive Scenario
                            8.5.4.3. Regulatory Framework
                            8.5.4.4. Mexico Short-read Sequencing Market, 2020 - 2032
                       8.5.5. Argentina
                            8.5.5.1. Key Country Dynamics
                            8.5.5.2. Competitive Scenario
                            8.5.5.3. Regulatory Framework
                            8.5.5.4. Argentina Short-read Sequencing Market, 2020 - 2032
                   8.6. MEA
                       8.6.1. SWOT Analysis
                       8.6.2. MEA Short-read Sequencing Market, 2020 - 2032
                       8.6.3. South Africa
                            8.6.3.1. Key Country Dynamics
                            8.6.3.2. Competitive Scenario
                            8.6.3.3. Regulatory Framework
                            8.6.3.4. South Africa Short-read Sequencing Market, 2020 - 2032
                       8.6.4. Saudi Arabia
                            8.6.4.1. Key Country Dynamics
                            8.6.4.2. Competitive Scenario
                            8.6.4.3. Regulatory Framework
                            8.6.4.4. Saudi Arabia Short-read Sequencing Market, 2020 - 2032
                       8.6.5. UAE
                            8.6.5.1. Key Country Dynamics
                            8.6.5.2. Competitive Scenario
                            8.6.5.3. Regulatory Framework
                            8.6.5.4. UAE Short-read Sequencing Market, 2020 - 2032
                       8.6.6. Kuwait
                            8.6.6.1. Key Country Dynamics
                            8.6.6.2. Competitive Scenario
                            8.6.6.3. Regulatory Framework
                            8.6.6.4. Kuwait Short-read Sequencing Market, 2020 - 2032
Chapter 9. Competitive Landscape
                   9.1. Company Categorization
                   9.2. Strategy Mapping
                   9.3. Company Profiles/Listing
                       9.3.1. Illumina, Inc.
                            9.3.1.1. Overview
                            9.3.1.2. Financial Performance
                            9.3.1.3. Product Benchmarking
                            9.3.1.4. Strategic Initiatives
                       9.3.2. Thermo Fisher Scientific, Inc.
                            9.3.2.1. Overview
                            9.3.2.2. Financial Performance
                            9.3.2.3. Product Benchmarking
                            9.3.2.4. Strategic Initiatives
                       9.3.3. Pacific Biosciences of California, Inc.
                            9.3.3.1. Overview
                            9.3.3.2. Financial Performance
                            9.3.3.3. Product Benchmarking
                            9.3.3.4. Strategic Initiatives
                       9.3.4. BGI
                            9.3.4.1. Overview
                            9.3.4.2. Financial Performance
                            9.3.4.3. Product Benchmarking
                            9.3.4.4. Strategic Initiatives
                       9.3.5. QIAGEN
                            9.3.5.1. Overview
                            9.3.5.2. Financial Performance
                            9.3.5.3. Product Benchmarking
                            9.3.5.4. Strategic Initiatives
                       9.3.6. Agilent Technologies
                            9.3.6.1. Overview
                            9.3.6.2. Financial Performance
                            9.3.6.3. Product Benchmarking
                            9.3.6.4. Strategic Initiatives
                       9.3.7. PerkinElmer, Inc.
                            9.3.7.1. Overview
                            9.3.7.2. Financial Performance
                            9.3.7.3. Product Benchmarking
                            9.3.7.4. Strategic Initiatives
                       9.3.8. ProPhase Labs, Inc. (Nebula Genomics)
                            9.3.8.1. Overview
                            9.3.8.2. Financial Performance
                            9.3.8.3. Product Benchmarking
                            9.3.8.4. Strategic Initiatives
                       9.3.9. Psomagen
                            9.3.9.1. Overview
                            9.3.9.2. Financial Performance
                            9.3.9.3. Product Benchmarking
                            9.3.9.4. Strategic Initiatives
                       9.3.10. Azenta US, Inc. (GENEWIZ)
                            9.3.10.1. Overview
                            9.3.10.2. Financial Performance
                            9.3.10.3. Product Benchmarking
                            9.3.10.4. Strategic Initiatives

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