Short-read Sequencing Market Size Worth .67 Billion By 2030Posted by Neha Bora on July 6th, 2023 San Francisco, 6 July 2023: The Report Short-read Sequencing Market Size, Share & Trends Analysis Report By Product (Instruments, Consumables), By Workflow, By Application, By End-Use, By Region, And Segment Forecasts, 2023 - 2030 The global short-read sequencing market size is expected to reach USD 18.67 billion by 2030, expanding at 18.46% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The rising demand for personalized medicine and companion diagnostics is anticipated to drive the demand for short-read technologies. In addition, initiatives taken by key players to enhance their market presence are expected to boost revenue generation opportunities in the short-read sequencing industry. For instance, in January 2023, Illumina Inc. collaborated with Nashville Biosciences LLC and Amgen to conduct the whole-genome sequencing of around 35,000 DNA samples. Other major players have also entered into partnerships and collaborations for the expansion of short-read technologies in the Asia Pacific. The region offers a large customer pool of patients suffering from chronic disorders that can be diagnosed easily using short-read methods. Major application areas of short-read methods include reproductive screening, oncology, noninvasive prenatal testing, infectious disease, and pharmacogenomics. Furthermore, a rise in the adoption of sequencing platforms for genomic research purposes is expected to have a positive impact on the overall market growth.For instance, in July 2022, IISc, Bengaluru launched a sequencing lab for virus genome sequence analysis studies. The lab also received funding from CryptoRelief to combat the COVID-19 pandemic. Moreover, the COVID-19 pandemic resulted in increased exposure to the new strains of the SARS-CoV-2 virus which displayed a high level of contagiousness and resistance to drugs and treatments. 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 lockdowns, short-read genome analysis methods were in the growing demand for virus characterization and had a positive impact on the global short-read sequencing industry in 2021. In addition, the pandemic also led to increasing awareness about short-read techniques, which coupled with the development of cost-effective genome sequencing approaches is expected to boost revenue. Access Research Report of Short-read Sequencing Market @ https://www.grandviewresearch.com/industry-analysis/short-read-sequencing-market Short-read Sequencing Market Report Highlights
Short-Read Sequencing Market Report Scope
List of Key Players in Short-read Sequencing Market
Access Press Release of Short-read Sequencing Market @ https://www.grandviewresearch.com/press-release/global-short-read-sequencing-market Like it? Share it!More by this author |