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

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.