Long Read Sequencing Market To Reach $3.78 Billion By 2030

Long Read Sequencing Market Growth & Trends

The global long read sequencing market size is expected to reach USD 3.78 billion by 2030, registering a CAGR of 30.92% according to a new report by Grand View Research, Inc. Since the sequencing method has shown to be of utmost importance in modifying pharmaceuticals, there is also a cumulative market value for the expanding knowledge of long read sequencing. An increase in the adoption of these technologies for the analysis of structural variants is expected to drive the market throughout the forecast period.

Currently, a lot of research is being conducted which is forecast to give manufacturers a slight advantage as they develop new and advanced elongated read sequencing, as well as to open up a lot of other prospects in the long read sequencing market. Furthermore, owing to the ongoing COVID-19 pandemic, key players are working with public health laboratories and researchers around the world to support the current COVID-19 pandemic by rapid sequencing of the novel coronavirus SARS-CoV-2.

Companies are also involved in the development of workflows to characterize a wide range of pathogens in a sample. Recently, Oxford Nanopore Technologies developed LamPORE-a scalable, low-cost, rapid assay for the detection of SARS-CoV-2. A rise in the prevalence of genetic disorders combined with an increase in top manufacturers' R&D expenditures in long-read sequencing technology is projected to greatly advance the industry. The long read technique is mostly used to study genetic disorders for which disease loci are either well-known or strongly suspected.

In addition, the limitations of clinical disease research based on next-generation sequencing could be partially overcome by these technologies. Since longer reads from a single DNA molecule are used, long-read sequencing methods have a distinct advantage over other technology. Another driver of market expansion is the rising acceptance of contemporary methods for medical diagnosis. The portability and real-time speed of LRS technology are further factors contributing to its rising demand.

It is additionally utilized to create a precise reference map of the chromosome centromere. In addition, numerous biotech firms are creating cutting-edge technologies that combine a fresh approach to library preparation with tools for genomic analysis. Accordingly, a number of researches show that LRS technology is quite useful for identifying novel harmful mutations in human disorders with unidentified genetic origins. This offers a wealth of potential for researchers to use whole-genome sequencing (WGS) technology to develop medical genetics.

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Long Read Sequencing Market Report Highlights

• By technology, Single Molecule Real Time Sequencing (SMRT) dominated the market in 2021. This technique is gaining traction among professionals for various applications since the first commercial launch

• Based on products, the consumables segment accounted for the largest share in 2022. Increasing demand for reagents & kits has majorly driven the segment growth

• By application, the cancer segment captured the highest share in 2022. Increasing adoption of LRS in the field of cancer biology is anticipated to be the major factor for the segment growth

• By workflow, sequencing is the dominating segment in 2022. Increasing research in the genomics arena has resulted in growing demand for sequencing services in the global market

• Based on the end-users, academic research accounted for a significant share in 2022. The presence of a large number of biotechnology institutes that explore genomics methodologies is expected to propel the segment revenue generation

• North America dominated the global market in 2022 owing to the presence of well-established proteomics, genomics, oncology & diagnostic screening fields in the region

• Continuous efforts by key players to improve their product offerings is also contributing to the North America’s regional market growth

• Asia Pacific is anticipated to witness the fastest growth throughout the forecast period. This can be attributed to the growing penetration of key players in Asian countries as well as increasing investments in this field by key players

Long Read Sequencing Market Segmentation

Grand View Research has segmented the global long read sequencing market on the basis of product, technology, application, workflow, end-use, and region:

Long Read Sequencing Market Product Outlook (Revenue, USD Million, 2018 - 2030)

• Instruments

• Consumables

• Services

Long Read Sequencing Market Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Single Molecule Real Time Sequencing

• Nanopore Sequencing

• Others

Long Read Sequencing Market Workflow Outlook (Revenue, USD Million, 2018 - 2030)

• Pre-sequencing

• Sequencing

• Data Analysis

Long Read Sequencing Market Application Outlook (Revenue, USD Million, 2018 - 2030)

• Whole Genome Sequencing

• Targeted Sequencing

• Metagenomics

• RNA Sequencing

• Epigenetics

• Others

Long Read Sequencing Market End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Academic & Research Institutes

• Hospitals & Clinics

• Pharmaceutical & Biotechnology Companies

• Others

Long Read Sequencing Market Regional Scope Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key players in Long Read Sequencing Market

• Quantapore, Inc.

• Pacific Biosciences of California, Inc.

• Oxford Nanopore Technologies Limited

• Institute of Integrative Biology of the Cell (I2BC)

• Stratos Genomics, Inc.

• MicrobesNG

• NextOmics

• Future Genomics Technologies B.V.

• Genome Transcriptome Facility of Bordeaux

• BaseClear B.V.

• Takara Bio, Inc

• Garvan Institute of Medical Research