USD 347.62 Million
Long Read Sequencing Market Size, Share, Growth Analysis, By Product(Instruments, Consumables, and Services), By Technology(Single Molecule Real Time Sequencing, Nanopore Sequencing, and Others), By Workflow(Pre-sequencing, Sequencing, and Data Analysis), By Application(Whole Genome Sequencing, Targeted Sequencing, Metagenomics, RNA Sequencing), By End-use(Academic & Research Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2219 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
148
|Figures:
78
Long Read Sequencing Market Insights
Long Read Sequencing Market size was valued at USD 455.10 Million in 2022 and is poised to grow from USD 595.81 million in 2023 to USD 5142.14 million by 2031, at a CAGR of 30.92% during the forecast period (2024-2031).
The rising prevalence of genetic disorders, such as cancers and chromosomal disorders, the popularity of personalized medicine, and technological advancements that have led to the development of novel methods, such as third-generation sequencing, are the main factors propelling market growth. The demand for cutting-edge sequencing methods for use in diagnostics & drug development research has increased as a result of the COVID-19 pandemic. Long read sequencing may also be used to create high-quality genome assemblies and find therapeutically significant genomic elements that are difficult to see using other techniques. Due to these benefits, Single Molecule Real Time (SMRT) reading and Nanopore methods have become more widely used in a variety of applications. The long read method is mainly used to look into genetic conditions if the disease region is either known or strongly suspected.
Clinical disease research based on next-generation DNA sequencing have some limitations that can be overcome by long read sequencing (LSR) techniques. Because LSR approaches use longer reads that originate from a single DNA molecule, they have an advantage over alternatives. Because batch sampling is not as necessary with real-time sequencing, sequencing runs are less expensive. This makes the approach appropriate for both urgently needed examinations of fresh, fresh-frozen, or fresh materials.
The long read sequencing technique has enabled accurate analysis of complicated genomic regions and detection of large-range abnormalities due to the aforementioned feature. LRS is being employed in more applications since it provides several advantages over traditional sequencing techniques. Examples include short read sequencing's inability to detect structural variants, distinguish highly homologous genomic regions, sequence repetitive parts, or sequence phase alleles. The diagnostic gap for patients with genetic disorders is widened by such brief read restrictions.
On the other hand, LRS has the potential to be used to produce high-quality genome assemblies and discover therapeutically important genomic elements that are challenging to spot using conventional methods. It is also anticipated that improvements in long read genomics will benefit the market expansion for clinical sequencing & analysis. The technique, for instance, can swiftly locate vast differences and intricate structural characteristics that may be connected to a number of clinical issues and rare diseases. Long read sequencing also makes it simple to detect reorganizations of chromosomes and gene fusing events, which are frequently seen in a variety of cancer types.
Increasing investment from major players in the creation of cutting-edge, efficient equipment is likely to fuel market expansion throughout the projected period. For instance, Illumina Inc. and Nashville Biosciences struck a multi-year deal in January 2022 for the creation of drugs based on advanced genomic technology. In order to create companion diagnostics, the business also worked with the German pharmaceutical company Boehringer Ingelheim. Such business initiatives are anticipated to promote market growth in the ensuing years.
US Long Read Sequencing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Consumables
Fastest Growth
Consumables
Growth Rate
30.92% CAGR
Global Long Read Sequencing Market ($ Bn)
Country Share for North America Region (%)
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Long Read Sequencing Market Segmental Analysis
The global long read sequencing market is segmented on the basis of product, technology, workflow, application, end-use and region. Based on product the market is segmented into Instruments, Consumables, and Services. Based on technology, the market is segmented into Single Molecule Real Time Sequencing, Nanopore Sequencing, and Others. Based on workflow, the market is segmented into Pre-sequencing, Sequencing, Data Analysis. Based on Application the market is segmented into Whole Genome Sequencing, Targeted Sequencing, Metagenomics, RNA Sequencing, Epigenetics, and Others. Based on End-use the market is segmented into Academic & Research Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Others. Based on region the global Long Read Sequencing Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Long Read Sequencing Market Analysis by Product
The consumables market share in 2022 was 63.37%, which was the highest. Consumables are required for frequent purchases by end users who do genome sequencing because they are used up over numerous sequence runs. The market is driven by the numerous applications of consumables including assay kits, reagents, etc. in sequencing techniques. In addition, the segment's expansion is anticipated to be aided by the growing availability of high-quality reagents from businesses like PacBio and Oxford Nanopore.
As sequencing services have numerous applications in cancer research, human genomes, epigenetics, and transcriptome analysis, the services category is anticipated to grow at the fastest CAGR of 34.69% from 2023 to 2030. Furthermore, significant companies like Oxford Nanopore provide certification programmes for their service providers to ensure that high-quality service is offered through their platforms, increasing the chances for the services segment to generate income.
Long Read Sequencing Market Analysis by Technology
The nanopore sequencing sector led the overall market in 2022 with a share of 63.15%. The long-read sequencing market is expected to undergo a full transformation as a result of upcoming technological developments. Oxford Nanopore is currently developing array chips with protein nanopores connected to a polymer that is electrically resistive. With this setup, several experiments can run concurrently on a single chip. The industry is currently making a number of attempts to expand the potential applications of nanopore technology.
The single molecular real time sequencing market is anticipated to grow significantly between 2023 and 2030, at a CAGR of 27.26%. Its longer read lengths and lack of systematic bias, which produce high consensus accuracy, account for this. The scientific community is more accepting of SMRT because it does not require amplification when processing samples. These factors are likely to hasten the adoption of technology in the near future.
Global Long Read Sequencing Market By Product
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Long Read Sequencing Market Regional Insights
North America held a 50.85% share of the global market in 2022 as a result of the existence of significant players like Pacific Biosciences, the accessibility of a strong informatics network, and established laws for the approval and marketing of goods and services for genetic testing. Furthermore, it is projected that the growing academic and clinical use of genomic methods in the US will speed up market expansion there.
Asia Pacific is expected to grow at the quickest CAGR of 35.09% from 2023 to 2030 as a result of increased investments in the development of cutting-edge diagnostic procedures as well as improved major player presence in the region's emerging markets. In the Asia-Pacific area, Japan is a rising country with a booming genomics industry. It is predicted that in the near future, the Japanese market for long-read sequencing would grow greatly as a result of the increased demand for precision medicine and the need for more thorough genetic knowledge. For instance, Pacific Biosciences and the Japanese organizations iLAC and Robotic Biology Institute worked together in 2022 to examine the possibility of automating the sample preparation procedure for Sequel II & IIe long read sequencing with the aid of a robotic laboratory worker.
Global Long Read Sequencing Market By Geography
- Largest
- Fastest
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Long Read Sequencing Market Dynamics
Long Read Sequencing Market Drivers
Rise in NGS-based Research
- Next-generation sequencing (NGS) technologies are widely adopted in research applications across various fields, including genomics, transcriptomics, and epigenomics. Long read sequencing provides additional insights into genome assembly, gene expression, and DNA modification patterns, driving its adoption in NGS-based research.
Long Read Sequencing Market Restraints
High Cost
- Long read sequencing technologies often involve higher costs compared to traditional short read sequencing methods. The cost of instruments, reagents, and data analysis can be significant, limiting the adoption of long read sequencing technologies in certain settings, such as clinical diagnostics or resource-constrained research laboratories.
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Long Read Sequencing Market Competitive Landscape
The primary operational players have used a number of measures to increase their market presence because this is a market that is expanding quickly. As an example, Illumina will introduce its powerful Illumina Complete Long Read Prep, Human assay for human whole-genome sequencing in March 2023.
Long Read Sequencing Market Top Player’s Company Profiles
- Oxford Nanopore Technologies Ltd.
- BGI Genomics Co., Ltd.
- Qiagen N.V.
- Roche Holding AG
- Agilent Technologies, Inc.
- Bio-Rad Laboratories, Inc.
- PerkinElmer, Inc.
- F. Hoffmann-La Roche Ltd.
- ZS Genetics, Inc.
- GenapSys Inc.
- 10x Genomics, Inc.
- GENEWIZ
- Paragon Genomics, Inc.
- Nabsys, Inc.
- Genia Technologies, Inc.
- MGI Tech Co., Ltd.
- Biomatters Ltd.
Long Read Sequencing Market Recent Developments
- In May 2022, Oxford Nanopore Technologies launched its GridION X5 system, a high-throughput long read sequencing platform. The system allows simultaneous sequencing of up to five flow cells, offering increased throughput and scalability for long read sequencing applications.
- In July 2022, Pacific Biosciences (PacBio) announced the introduction of its Sequel IIIe System, the latest version of its long read sequencing platform. The system provides improved performance in terms of read length, accuracy, and throughput, enabling researchers to explore complex genomic regions with greater precision.
Long Read Sequencing Key Market Trends
- Increasing Adoption of Long Read Sequencing: Long read sequencing technologies are gaining significant traction in the market due to their ability to provide more comprehensive and accurate genomic information compared to short read sequencing. This trend is driven by the increasing demand for applications such as genome assembly, structural variant analysis, and transcriptomics.
- Advancements in Sequencing Technologies: The market is witnessing continuous advancements in long read sequencing technologies, leading to improved sequencing accuracy, throughput, and cost-effectiveness. This includes the development of new sequencing platforms, improved sample preparation methods, and enhanced data analysis tools.
- Growing Applications in Genomic Research: Long read sequencing is being increasingly used in various genomic research applications, such as human genetics, cancer research, agriculture, and microbiology. The ability to generate long reads enables researchers to study complex genomic structures, identify structural variations, and understand gene expression patterns in greater detail.
- Increasing Demand for Personalized Medicine: The growing focus on personalized medicine and precision healthcare is driving the demand for long read sequencing. Long read sequencing enables the identification of rare genetic variants and structural variations that are associated with various diseases. This information is crucial for accurate diagnosis, prognosis, and personalized treatment selection.
- Collaborations and Partnerships: Key players in the market are forming collaborations and partnerships to leverage their expertise and resources in developing and commercializing long read sequencing technologies. These collaborations aim to accelerate research and development activities, enhance product portfolios, and expand market reach.
- Growing Focus on Sustainable Agriculture: Long Read Sequencings are utilized in agriculture as soil conditioners and fertilizer additives. They improve nutrient retention, water-holding capacity, and cation exchange capacity of soils, leading to enhanced crop yield and sustainability. The increasing adoption of sustainable agricultural practices has boosted the demand for Long Read Sequencings in the agricultural sector.
Long Read Sequencing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Long Read Sequencing Market analysis, the rising prevalence of genetic disorders, such as cancers and chromosomal disorders, the popularity of personalized medicine, and technological advancements that have led to the development of novel methods, such as third-generation sequencing, are the main factors propelling market growth. However, Asia Pacific is projected to emerge as the fastest growing region during the forecast period due to increased investments in the development of cutting-edge diagnostic procedures as well as improved major player presence in the region's emerging markets. In the Asia-Pacific area, Japan is a rising country with a booming genomics industry. It is predicted that in the near future, the Japanese market for long-read sequencing would grow greatly as a result of the increased demand for precision medicine and the need for more thorough genetic knowledge.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 455.10 Million |
| Market size value in 2031 | USD 5142.14 million |
| Growth Rate | 30.92% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Long Read Sequencing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Long Read Sequencing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Long Read Sequencing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Long Read Sequencing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Long Read Sequencing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Long Read Sequencing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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