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Long Read Sequencing Market

Long Read Sequencing Market

by Techniques (Single-Molecule Real-Time Sequencing, Nanopore Sequencing, Others), by Product (Instruments, Consumables, Services), by Application (Research Applications, Clinical Applications), by End User (Academic and Government Research Institutes, Pharmaceutical and Biotech Companies, Hospitals and Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Report Code: A14421
Pages: 322
Aug 2022 | 1370 Views
Author(s) : Monika D , Onkar S
Tables: 218
Charts: 70
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Long Read Sequencing Market Research, 2031

The global long read sequencing market was valued at $603.5 million in 2021, and is projected to reach $4.5 billion by 2031, growing at a CAGR of 22.3% from 2022 to 2031. Long-read sequencing, also called third-generation sequencing, is a DNA sequencing technique currently being researched which can determine the nucleotide sequence of long sequences of DNA between 10,000 and 100,000 base pairs at a time. This removes the need to cut up and then amplify DNA which is normally required in other DNA sequencing techniques.

In addition, long-read sequencing has several distinct advantages compared to next-generation sequencing technologies. One of the major advantages is that long-read sequencing can much more accurately sequence DNA containing repeats, which is where the same sections of DNA repeated within the genome. Sanger sequencing and next-generation sequencing often struggle with these repeats when assembling their DNA fragments. These repeats, or copy number variations, are much easier to detect in long-read sequencing which is very important. 

The COVID-19 has led to the mutation of the virus in the human body which is likely to enhance the long-read sequencing market demand in the short run.

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Increase in prevalence of chronic diseases and genetic disorders and initiatives taken by governments for large scale sequencing projects are some factors drive long read sequencing market growth. Moreover, rise in utilization of sequence analysis methodologies and surge in demand for genome mapping program is further expected to propel the market during the forecast period. However, lack of skill professionals and ethical and legal limitations is expected to restrain the growth of the market forecast. Conversely, use of cloud computing as a potential data management service and high growth potential in untapped emerging countries are expected to provide long read sequencing market opportunity during the forecast period.

The long-read sequencing market is segmented on the basis of technology, product, end user and region. On the basis of technique, the market is classified into single-molecule real-time sequencing (SMRT), nanopore sequencing and others. On the basis of product, it is segmented into consumables, instruments and services. On the basis of application, it is segmented into clinical application and research application. On the basis of end user, it categorized into academic & government research institutes, pharmaceutical & biotechnological companies’ hospitals & clinics and others. Furthermore, on the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

COVID-19 Impact Analysis

Coronavirus (COVID-19) was discovered in December 2019, in Hubei province of Wuhan city in China. A virus, severe acute respiratory syndrome coronavirus 2, causes the disease (SARS-CoV-2), which is transmitted among humans. 
The disease rapidly spread to other parts of the globe post its discovery in Wuhan. Moreover, this virus causes various symptoms in patients, which range from common symptoms to serious symptoms. For instance, common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty in breathing or shortness of breath, chest pain, and loss of speech or movement. Furthermore, the virus has high potential of lethality in geriatric population. On March 11, 2020, the World Health Organization declared it as a pandemic. In addition, there are only a few vaccines that received emergency approvals for COVID-19 prevention. Thus, social distancing is observed as the most important measure to limit the spread of this disease. Furthermore, to maintain social distancing in various countries across the globe have led to adoption of lockdowns. 

The COVID-19 pandemic has curtailed the movement of people, goods, and services worldwide, disrupted supply chains, restricted sales operations, marketing efforts, and customer field support, and impeded the shipping and delivery of products to customers. As a result, many companies experienced a decline in the sales of their sequencing consumables, sequencing services, and instrument services in 2020. However, a resurgence in testing numbers is seen as countries gradually ease restrictions on movement which positively impacted long read sequencing industry. With the COVID-19 pandemic, responding to infectious disease has become a pressing medical issue worldwide. In addition to the development of vaccine and therapeutics drugs. there is a growing call for developing more precise and simple testing technologies and the expansion of testing structures. COVID-19 has also impacted the regulatory environment and practices, as governments and healthcare providers face unprecedented challenges.

Global Long Read Sequencing Market by Technique

By technique, the long-read sequencing market are divided into single-molecule real-time sequencing (SMRT), nanopore sequencing and others. The single-molecule real-time sequencing (SMRT) segment was the major revenue contributor in 2021 in long read sequencing market size, and is anticipated to continue this trend during the forecast period, owing to the surge in the number of applications of single-molecule real-time sequencing and advancement in technology are the major factors influencing the growth of single-molecule real-time sequencing (SMRT) market.

On the other side, other technique such as synthetic long read sequencing, loop genomics is projected to exhibit the fastest market growth during the forecast period, owing to rise in demand for DNA sequencing and increase in R&D on synthetic long read sequencing technologies such that they can be used for novel viruses will help the market gain traction during the forecast period. In addition, rise in the use of epigenetics for the development of novel treatment methods is anticipated to fuel the growth of the market.

Long Read Sequencing Market
By Techniques

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The single-molecule real-time sequencing (SMRT) segment dominated the market in 2021, and is expected to continue this trend during the forecast period.

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Global Long Read Sequencing Market by Product

By product, the market is divided into instruments, consumables and services. The consumable segment was the major revenue contributor in long read sequencing market size, and is anticipated to exhibit the fastest growth during forecast period, owing to the advent of novel pre-sequencing products and kits for executing DNA fragmentation, target enrichment, size selection, and others.

Long Read Sequencing Market
By Product

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The consumables segment dominated the market in 2021, and is expected to continue this trend during the forecast period.

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Global Long Read Sequencing Market by Application

By application, the market is divided into clinical application and research application. The research application segment was the major revenue contributor in 2021, and is anticipated to continue this trend during the long read sequencing market forecast, owing to an increase in investments by key players toward R&D related to long-read sequencing applications are are expected to boost the research application segment. On the other side, clinical application is projected to exhibit the fastest growth during forecast period. This is attributed to increase in prevalence of genetic disorders and chronic diseases such as cancer are anticipated to augment the market growth during the forecast period.

Long Read Sequencing Market
By Application

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The research application segment dominated the market in 2021, and is expected to continue this trend during the forecast period

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Global Long Read Sequencing Market by End User

By end user, the market is divided into academic & government research institutes, pharmaceutical & biotechnological companies’ hospitals & clinics and others. The pharmaceutical & biotechnological companies’ segment was the major revenue contributor in 2021, and is anticipated to continue this trend during the forecast period, owing to increase in invested of pharmaceutical and biotech companies in sequence analysis research to understand the complex pattern of drug resistance developed by microorganisms, oncology, & molecular aspects of cancer, and drug discovery.  on the other side, academic & government research institutes are projected to exhibit the fastest growth during forecast period. This is attributed to the presence of a large number of research institutes that explore molecular biology and genome sequencing methodologies. In addition, growing usage of sequence analysis methodologies in research, academic workshops, and on-site bioinformatics courses offered by universities are expected to boost the academic and government research institutes segment. 

Long Read Sequencing Market
By End User

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The pharmaceutical & biotechnological companies segment is projected to grow at a CAGR of 21.3% during the forecast period

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Global Long Read Sequencing Market by Region

By region, the long-read sequencing market are analyzed across North America, Asia-Pacific, Europe, and LAMEA. North America dominated the market in 2021, accounting for the highest long read sequencing market share, and is anticipated to maintain this trend during the forecast period. Owing to factors such as availability of a robust informatics network, well-established regulations for approval and distribution of genomic testing products & services, and presence of key players such as Pacific Biosciences in the region. Furthermore, increasing adoption of genomic procedures for various academic and clinical use in the U.S. is anticipated to boost the growth of the North America market. Asia pacific is projected to register the highest CAGR during the forecast period. This is attributed to increasing penetration of leading players in emerging markets in the region, and growth in investments for development of advanced diagnostic methods are the key driving factors that boost the growth of the market in the region.

Long Read Sequencing Market
By Region

2031
North America 
Europe
Asia-Pacific
LAMEA

North America garnered the largest revenue share in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR 25.3% during the forecast period.

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The major companies profiled in the report include Agilent Technologies, Inc. BaseClear BV, Cantata Bio, F. Hoffmann-La Roche Ltd., Future Genomics Technologies, The Genome Transcription Facility of Bordeaux, Grandomics, Jiangsu Hengrui Pharmaceutical Co.Ltd., MicrobesNG, Novogene, Oxford Nanopore Technologies, Pacific Biosciences Inc., St Vincent's Hospital Australia, Takara Holdings Inc., Thermo Fisher Scientific, Inc., Element Biosciences, Illumina, Inc.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the long read sequencing market analysis from 2021 to 2031 to identify the prevailing long read sequencing market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the long read sequencing market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global long read sequencing market trends, key players, market segments, application areas, and market growth strategies.

Long Read Sequencing Market Report Highlights

Aspects Details
Application
  • Research Applications
  • Clinical Applications
Techniques
  • Single-Molecule Real-Time Sequencing
  • Nanopore Sequencing
  • Others
Product
  • Instruments
    • Type
      • System
      • Software
  • Consumables
  • Services
End User
  • Academic and Government Research Institutes
  • Pharmaceutical and Biotech Companies
  • Hospitals and Clinics
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players Agilent Technologies, BaseClear B.V, Cantata Bio, Element bioscience, F. Hoffmann-La Roche Ltd, Future Genomics Technologies B.V, Genome Transcriptome Facility of Bordeaux, GrandOmics, JIANGSU HENFRUI PHARMACEUTICALS CO.LTD, llumina, Inc, MicrobesNG, NOVOGENE, Oxford Nanopore Technologies Limited, Pacific Biosciences of California, Inc, Takara Bio, Inc, Thermo Fisher Scientific, Inc., St Vincents Hospital Austrailia
 

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Adoption of long read sequencing is expected to increase in various applications and interventions, such as diagnostics, biomarker discovery, and personalized medicine. This technique is more advanced as compared to its predecessors, especially microarray, owing to its increased affordability for conducting comprehensive sequence-based genomic analysis. 
The long-read sequencing market has gained momentum in research, innovation, and development sectors, owing to surge in number of genome mapping projects across the globe, significant technological advancements in long read sequencing, and surge in collaborations & partnerships among long read sequencing product manufacturing companies & other organizations. 
In addition, rise in awareness regarding next-generation sequencing (NGS) and its advantages supplement the market growth. Emerging economies in Asia-Pacific and LAMEA are expected to present lucrative growth opportunities to key players in the industry, owing to surge in demand for drug discovery and rise in focus on the biotechnology industry. 
The demand for long read sequencing has significantly increased, owing to reduced cost of NGS and surge in number of produced sequences reads per run. Moreover, reduction in sequencing time, high accuracy, and precision of the outcome has led to the market growth. However, standardization concerns in long read sequencing-based diagnostics and ethical & legal limitations hamper the market growth. 
 

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FREQUENTLY ASKED QUESTIONS?

A. Top companies such as Oxford Nanopore Technologies, Pacific Biosciences Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., Element Biosciences, Illumina, Inc. held a high market position in 2021.

A. The single-molecule real-time sequencing (SMRT) segment is the most influencing segment owing to the surge in the number of applications of single-molecule real-time sequencing and advancement in technology.

A. Increase in prevalence of chronic diseases and genetic disorders and initiatives taken by governments for large scale sequencing projects are some factors expected to boost the market growth during the forecast period.

A. The base year is 2021 in long read sequencing market

A. The total market value of long read sequencing market is $603.48 million in 2021.

A. The forecast period for long read sequencing market is 2022 to 2031

A. The market value of long read sequencing market in 2031 is $4,525.53 million.

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