Market Trends of Short-Read Sequencing Industry
The Whole Genome Sequencing (WGS) Application Segment is Expected to Have a Significant Share in the Market During the Forecast Period
Whole genome sequencing (WGS) involves determining the complete DNA sequence of an organism’s genome. This includes all its genes (coding regions) and non-coding regions, such as regulatory sequences, intergenic regions, and repetitive elements. WGS, using short-read sequencing technologies, has revolutionized genomics research and clinical diagnostics by providing comprehensive insights into an organism’s entire DNA sequence.
The application of short-read sequencing in whole genome sequencing is propelled by its cost-effectiveness, high throughput, accuracy, versatility, clinical relevance, and continuous advancements in research and technology. In addition, the growing research on WGS and growing funding on genome sequencing is expected to propel the segment growth during the forecast period.
For instance, in January 2024, the UK Biobank made the world's largest whole-genome dataset, covering all 500,000 participants, accessible to approved researchers through its UK Biobank Research Analysis Platform. Similarly, in 2023, the Alliance for Genomic Discovery (AGD) completed whole-genome sequencing of around 86,000 DNA samples, a significant milestone toward their goal of 250,000 samples from VUMC's BioVU biobank. This large whole-genome data set helps global research using short-read sequencing, boosting segment growth during the forecast period.
Hence, the whole genome sequencing segment is expected to witness significant growth in the upcoming years due to the factors above, such as widespread applications and growing research activities.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
North America is expected to hold a significant market share due to growing research funding on genomics. Rapid acceptance and penetration of short-read sequencing for research studies also contributed to the segment's dominance during the study period. In addition, a strong presence of established players offering a wide range of solutions and access to developed healthcare infrastructure is anticipated to drive market growth across the region.
For instance, according to data published by the National Institutes of Health (NIH) in May 2024, research funding for human genome projects was reported to be USD 4,946 million in 2023, and it is estimated to be USD 5,228 million by 2025 in the United States. This shows the growing research funding for genome projects, which is expected to raise the demand for short-read sequencing, thereby boosting the market growth during the forecast period.
Also, establishing new sequencing services with equipment in the region is expected to propel the market growth during the forecast period. For instance, in October 2023, GIFS’ Omics and Precision Agriculture Laboratory (OPAL) in Western Canada offered genomics analysis services using PacBio’s new Revio DNA sequencer. This includes long- and short-read DNA sequencing technology. Hence, the widespread availability of these services in the region is expected to propel the market growth in the coming years.
Therefore, the market in North America is expected to grow due to factors such as research funding and the widespread availability of services.
