Short-read Sequencing Industry is the Next Big Thing| Fortune
Posted by NickyArora on January 7th, 2020
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:
Grand View Research has segmented the global short-read sequencing market on the basis of technology, products, application, workflow, end use, and region:
Short-read Sequencing Technology Outlook (Revenue, USD Million, 2014 - 2025)
Short-read Sequencing Product Outlook (Revenue, USD Million, 2014 - 2025)
Short-read Sequencing Application Outlook (Revenue, USD Million, 2014 - 2025)
Short-read Sequencing Workflow Outlook (Revenue, USD Million, 2014 - 2025)
About Grand View Research:
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 compnies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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