Covid-19 Impact on Short-read Sequencing Market Size to surge at 11.32% CAGR is expected to reach $18.64 Billion in 2025

The global short-read sequencing market size is expected to reach USD 18.64 billion by 2025, at a 11.32% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Rising demand for personalized medicine and companion diagnostics is anticipated to drive the growth.

In addition, initiatives taken by key players to enhance their market presence are expected to boost revenue generation in the market for short-read sequencing. For instance, in March 2019, Illumina partnered with Boai NKY Medical Holdings, a China-based producer of polyvinylpyrrolidone, to develop NGS-based systems for in-vitro diagnosis of hereditary diseases. The novel systems would be developed by using NKY’s library prep kits and analysis software and Illumina’s MiniSeq system.

Other major market players have also entered into partnerships and collaborations for expansion in the Asian market as Asia Pacific offers a wide customer-base of patients suffering from chronic disorders that can be diagnosed easily using sequencing methods.

Major application areas of short-read sequencing include reproductive screening, oncology, noninvasive prenatal testing, infectious disease, and pharmacogenomics. A rise in adoption of sequencing platforms for diagnosis of the aforementioned clinical conditions is expected to have a positive impact on the overall market growth.

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Further key findings from the report suggest:

  • Next-generation Sequencing (NGS) accounted for the largest revenue share in 2018 and is expected to maintain its dominance over the forecast period, owing to the presence of substantial platforms and services offered by prominent participants in NGS is anticipated to add to the market revenue
  • Consumables product segment is expected to witness lucrative growth over the forecast period, since these products are short-lived and exhibit higher usability
  • Short read methods are most commonly adopted in the field of oncology owing to an increase in the adoption of NGS technology to advance personalized treatment for different types of cancer
  • Sequencing step dominated with the largest market share in 2018 as it is the important step of the protocols implemented in terms of time as well as consumables
  • Academic research held the largest market share in 2018 as a consequence of higher usage of these protocols in research, academic workshops, and on-site bioinformatics courses offered by universities
  • Illumina, Inc.; Thermo Fisher Scientific Inc.; 10x Genomics; and Qiagen N.V. are the prominent participants operating in the short-read sequencing market. These participants engage in new product development and strategic alliances to maintain the market share

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