Asia Pacific Long Read Sequencing Market to Grow at a CAGR of 23.5% to reach US$ 1,095.21 Mn Million from 2021 to 2028

The long read sequencing market in APAC is expected to grow from US$ 250.33 million in 2021 to US$ 1,095.21 million by 2028; it is estimated to grow at a CAGR of 23.5% from 2021 to 2028. Japan, China, India, South Korea, and Australia are major economies in APAC. Five years ago, genomic sequencing was restricted to the research environment. At present, it is increasingly used in clinical practice, and over the next five years, genomic data from over 60 million patients are expected to be generated within healthcare. Genomic sequencing is rapidly transitioning into clinical practice, and implementation into healthcare systems has been supported by substantial government investment, totaling over US$ 4 billion in at least 14 countries. These national genomic-medicine initiatives drive transformative change under real-life conditions while addressing barriers to implementation and gathering evidence for broader adoption, thereby driving the market growth.

In January 2020, after a series of pneumonia cases in Wuhan, the Chinese health authorities, the capital city of Hubei province (China), announced that a novel coronavirus, officially known as severe acute respiratory syndrome coronavirus (SARS-CoV)-2, was responsible for these cases. In mid-January 2020, researchers in China and Australia published the whole genome sequence of SARS-CoV-2. The genomics helped understand SARS-CoV-2, which enabled governments and researchers to track the emergence of Covid-19 outbreaks in their country. The World Health Organization demands an increase in genomic sequencing of the coronavirus after the detection of the new virus strain. For instance, in India, the health ministry has installed the Indian SARS-CoV-2 Genomics Consortium (INSACOG) for laboratory and epidemiological surveillance and develops the virus's whole-genome sequencing, helping in understanding the virus transmission and evolution. Market players realized the importance of genomics in the treatment of COVID 19, which is expected to raise demand for genomic during the forecast period. For instance, the Singapore-incorporated medtech company Cell ID Pte. Ltd. developed a palm-sized portable genetic test kit that uses an app on a laptop to detect, anywhere, anytime, if a person is affected COVID-19. Dubbed the Quiz PCR Biochip, the test uses biotechnology to perform two tests at a time outside of the laboratory. The rising research activities on the COVID-19 virus are paving the way for potential opportunities for start-ups and established businesses. For instance, Haystack Analytics, a start-up company in Mumbai, Maharashtra, is using genomics to study the transmission of the virus and help the government of India. Thus, the increasing demand for genomics is due to rising cases of COVID-19 is driving the growth of the market in the forecasted period.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the long read sequencing market. The APAC long read sequencing market is expected to grow at a good CAGR during the forecast period.

APAC Long Read Sequencing Market Segmentation

APAC Long Read Sequencing Market – By Technology

• Single-Molecule Real-Time Sequencing (SMRT)
• Nanopore Sequencing
• Loop Genomics Long-Read Sequencing

APAC Long Read Sequencing Market – By Product

• Instruments
• Consumables
• Services

APAC Long Read Sequencing Market – By Application

• Identification and fine mapping of structural variation
• Tandem Repeat Sequencing
• Pseudogene discrimination
• Resolving allele phasing
• Reproductive genomics
• Cancer
• Viral and Microbial Sequencing
• Others

APAC Long Read Sequencing Market – By Workflow

• Pre-sequencing
• Sequencing
• Data Analysis

APAC Long Read Sequencing Market – By End User

• Academic Research Institutes
• Hospitals and Clinics
• Pharma and Biotechnology Companies

APAC Long Read Sequencing Market- By Country

• Japan
• China
• India
• South Korea
• Australia
• Rest of APAC

APAC Long Read Sequencing Market-Companies Mentioned

• Bionano Genomics
• F. HOFFMANN-LA ROCHE LTD.
• Illumina, Inc.
• Longas Technologies
• Oxford Nanopore Technologies
• Pacific Biosciences of California, Inc.
• PerkinElmer, Inc.

Asia Pacific Long Read Sequencing Report Scope