Long Read Sequencing Market to Grow at a CAGR of 22.3% to reach US$ 5,334.68 million from 2020 to 2028

The long read sequencing market was valued at US$ 1,101.15 million in 2020 and it is projected to reach US$ 5,334.68 million by 2028; it is expected to grow at a CAGR of 22.3% during 2021–2028. 

The long read sequencing is a DNA sequencing technique. It offers numerous distinct advantages than next-generation sequencing technologies such as more precisely sequence DNA containing the same sections of DNA repeated within the genome. Many adults aged 60 years and above suffer from two or more chronic illnesses. Genes play a role in chronic diseases such as cardiovascular disease, diabetes, obesity, RA, Alzheimer's disease (AD), and depression, according to twin research. According to the Centers for Disease Control and Prevention (CDC), about 6 out of 10 individuals in the US are affected by at least one chronic disease, as well as 4 out of 10 are suffering from two or more chronic diseases. Furthermore, cancer is primarily caused by genomic errors. Researchers have analyzed cancer genomes using a variety of rapidly evolving sequencing technologies in order to better understand cancer cells' molecular status and expose their vulnerabilities such as driver mutations or gene expression. The researchers were able to recognize and classify new forms of cancerous mutations using long-read technologies, including complex structural variants in haplotype resolution. In recent years, several long read sequencing technologies have been developed and used. For example, Pacific Biosciences developed SMRT sequencing, which is one of the long read methods (PacBio). Long read sequencing is becoming more common, and cancer studies based on long read data are growing and advancing in order to decode complex cancer genomes.

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Long Read Sequencing Market: Strategic Insights

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Market Insights: Advantages of Long Read Sequencing Drives Long Read Sequencing Market

Long-read technologies are overcoming early limitations of accuracy and throughput and mounting their application in the fields of genomics. Long read sequencing or third-generation sequencing offers several advantages over short-read sequencing. While short-read sequencers such as Illumina’s HiSeq, NovaSeq, NextSeq, and MiSeq instruments, BGI’s MGISEQ and BGISEQ models; or Thermo Fisher’s Ion Torrent sequencers produce reads of up to 600 bases, long read sequencing technologies regularly generate reads over 10 kb Further, long reads can improve de novo assembly, mapping certainty, transcript isoform identification, and detection of structural variants. Also, long read sequencing of native molecules, i.e., DNA and RNA eliminates amplification bias while preserving base modifications. With continuing progress in accuracy, throughput, and cost reduction, these capabilities have begun to make long read sequencing an option for a broad range of applications in genomics for model and non-model organisms.

Technology:Insights

   
The global long read sequencing market, based on technology, is segmented into single-molecule real time sequencing (SMRT), nanopore sequencing, and loop genomics long read sequencing. The single-molecule real time sequencing (SMRT) segment held the largest share of the market in 2020. However, the loop genomics long read sequencing segment is expected to register the highest CAGR in the market during the forecast period.

Product:Based on product, the global long read sequencing market is segmented into instruments, consumables, and services. The instruments segment held the largest share of the market in 2020, and the services segment is expected to register the highest CAGR during 2021–2028.
Application:Based on application, the global long read sequencing market is segmented into identification and fine mapping of structural variation, tandem repeat sequencing, pseudogene discrimination, resolving allele phasing, reproductive genomics, cancer, viral and microbial sequencing, and others. The identification and fine mapping of structural variation segment held the largest share of the market in 2020, and the cancer segment is expected to register the highest CAGR from 2021 to 2028.
Workflow:Based on workflow, the global long read sequencing market is segmented into pre-sequencing, sequencing, and data analysis. The sequencing segment held the largest share of the market in 2020, and the same segment is expected to register the highest CAGR during 2021–2028.
End-User:Based on end-user, the global long read sequencing market is segmented into academic research institutes, hospitals and clinics, and pharma and biotechnology companies. The academic research institutes segment held the largest share of the market in 2020, and the same segment is expected to register the highest CAGR during 2021–2028. 

Long Read Sequencing Market Regional Insights

The regional trends and factors influencing the Long Read Sequencing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Long Read Sequencing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Long Read Sequencing Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Long Read Sequencing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Long Read Sequencing Market are:

1. Illumina, Inc.
2. Oxford Nanopore Technologies
3. TATAA Biocenter
4. PerkinElmer, Inc.
5. F. HOFFMANN-LA ROCHE LTD.

Disclaimer: The companies listed above are not ranked in any particular order.

Players operating in the long read sequencing market adopt collaboration and partnership strategies to meet the demands of end users through the introduction of technologically advanced offerings, and these strategies significantly support the growth of the market. 

By Technology 

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

By Product

• Instruments
• Consumables
• Services

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

By Workflow

• Pre-sequencing
• Sequencing
• Data Analysis

By End User

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

By Geography

• North America 

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Spain

• Asia Pacific 

  • China
  • India
  • South Korea
  • Japan
  • Australia

• Middle East and Africa 

  • South Africa
  • Saudi Arabia
  • UAE

• South and Central America

  • Brazil
  • Argentina

Company Profiles

• Oxford Nanopore Technologies
• Tataa Biocenter
• Illumina, Inc
• Perkinelmer Inc.
• F. Hoffmann-La Roche Ltd.
• Baseclear B.V.
• Bionano Genomics
• Longas Technologies
• Pacific Biosciences of California, Inc.
• Quantapore, Inc.