2023-2029 is the forecast period in the market report
Long-read sequencing is a DNA sequencing technique that can determine the nucleotide sequence of long DNA sequences between 10,000 and 100,000 base pairs at a time. This eliminates the need to cut and then amplify DNA, which is normally required in other DNA sequencing techniques. The long-read sequencing technology has several distinct advantages over other sequencing technologies. A major advantage is that long-read sequencing can sequence DNA with repeats much more accurately, and this is where the same parts of the DNA repeat in the genome. The increase in the prevalence of chronic diseases and genetic diseases and government initiatives for large-scale sequencing projects are some of the factors driving the growth of the market. In addition, an increase in the use of sequence analysis methodologies and a strong demand for genome mapping programs are expected to propel market growth during the forecast period.
The key growth factors for the market include an increase in prevalence of genetic diseases such as cancer and chromosomal disorders, the increasing popularity of personalized medicine, and growing technological advancements in the field of genetics. The long-read sequencing technology can potentially be used to produce high-quality genomic assemblies and detect clinically relevant genomic components that cannot be observed using traditional methods. Significant market growth is expected owing to the various advantages offered by these technologies. These advantages have led to increased adoption of SMRT and nanopore techniques for various applications. The long read sequencing technique is primarily used to study genetic disorders where the site of disease is either well known or strongly suspected. The increasing acceptance of modern medical diagnostic approaches is also one of the key factors driving the growth of the market. The growing demand for this technology can be attributed to its portability and real-time speed. It is also used to create an accurate reference map of the centromere of chromosomes. Apart from this, various biotechnology companies are developing innovative technologies that combine new library preparation method and genomic analysis tools.
An increase in R&D investments by leading manufacturers of long-read sequencing technologies is likely to drive the growth of the market significantly. Long-read sequencing methods have the potential to alleviate some of the drawbacks of clinical disease research based on next-generation sequencing. Long-read sequencing technologies have a significant advantage over their competitors because they use longer reads from a single DNA molecule and this factor is expected to provide rising new growth opportunities for the market over the forecast period.
The SMRT and nanopore technologies offer lower accuracy per read than short read sequencing. In the case of SMRT, the quality of the circular consensus sequence strongly depends on the number of times the fragment is read. This factor is expected to acts as a hurdler for the market’s growth over the forecast period. Besides, lack of awareness about this technique is another factor that may restrain market growth over the forecast period.
The long-read sequencing market is facing trials due to a lack of highly sophisticated genomic testing centers, expensive setup process, and a lack of required experts with an advanced diagnostic capability. These factors is expected to pose as a key challenge for the market growth over the forecast the period.
The report provides an in-depth analysis of global Long Read Sequencing market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. With increasing demand for long read sequencing in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2029.
The global Long Read Sequencing market comprises of different market segments like product, technology, workflow, application, end users and geography.
By product, the Long Read Sequencing market includes the key segments of
The consumables segment is expected to dominate the market over the forecast period. The users who perform genome sequencing regularly require consumables as they are consumed in multiple sequencing runs. This factor is expected to drive the growth of the segment during the forecast period.
The service segment is expected to witness the highest growth during the forecast period. To ensure that quality service is provided through their platforms, leading companies offer certification programs for their service providers. This is an important factor that is expected to support the growth of the segment during the forecast period.
By technology, the Long Read Sequencing market is segmented into
The single molecule real-time sequencing (SMRT) segment is expected to grow at a high rate over the forecast period. This can be attributed to longer read lengths and low systematic distortion, which lead to high accuracy of consent. In addition, amplification is not required during sample preparation for SMRT, increasing its acceptance in the research community.
On the other hand, nanopore sequencing technology segment is expected to grow at a significant rate during the estimated time period due to its high efficiency, accuracy and precision.
By workflow, the Long Read Sequencing market is segmented into
The sequencing segment expected to lead the market during the forecast period. This is mainly because it is one of the most important components of the workflow. Without PCR amplification, the long-read technique enables real-time library building and sequence analysis. This allows scientists to study genetic material in its natural state and eliminates PCR-induced biases in the genome. This allows long-reading technologies to directly identify methylation and other underlying changes.
Also, the data analysis segment is expected to witness stable growth over the estimated time period due to the advancements in technology and a rise in investment by major players operating in the market.
The Long Read Sequencing market has key applications in
Identification and Fine Mapping of Structural Variation
The cancer segment is expected to dominate the market over the projected time period. SMRT sequencing has proven useful in cancer research, providing access to a full range of genetic variation sizes across whole genomes, transcripts and of genes. The extraordinarily long reads of SMRT sequencing allow researchers to uncover the hidden biology of cancer samples by resolving isoform diversity, alternative splice sites, gene fusions, and retained introns. Similarly, advances in nanopore sequencing have opened up new areas in the field of cancer biology.
Similarly, the viral and microbial sequencing segments are expected to have high growth over the estimated time period. The SMRT sequencing technology is used to investigate HIV, hepatitis C virus, hepatitis B virus, influenza virus, and other disease-causing microbes. The technology has been observed to be useful not only in genomic sequencing of infecting viruses, but also in monitoring for any evolving mutations resulting from drug treatment.
The Long Read Sequencing market has major end users like
The academic research segment is expected to lead the market over the forecast period. This is due to the presence of many biotechnology research centers dealing with molecular biology and genome sequencing techniques. Additionally, academic workshops, on-site bioinformatics courses offered by research organizations, and the increasing use of sequence analysis in research is expected to support the growth of the segment.
On the other hand, the clinical research segment is likely to grow at a high rate due to a high demand for advanced technologies for clinical diagnostics. Potential clinical applications of long-read sequencing technology in clinical settings are expected to drive the growth of this segment.
The global Long Read Sequencing market is studied for the following regions
North America is expected to dominate the market over the forecast period due to the presence of major players in the area, the availability of a solid informatics network, and consolidated regulations governing the approval and marketing of genomic testing products and services. Furthermore, the growing academic and clinical use of genomic techniques in the United States is expected to accelerate the expansion of the market in North America.
Asia-Pacific is expected to grow at a faster rate due to the growing investment in the development of advanced diagnostic techniques and the greater penetration of major players in the region. The market in the region is expected to grow significantly in the near future due to the growing demand for precision in medicines and the need for a better understanding of genetics and genetic engineering.
Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global Long Read Sequencing market. In addition, complete analysis of changes on the global Long Read Sequencing market expenditure, economic and international policies on supply and demand side is provided in this exclusive report. he report also studies the impact of the pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The outbreak of the COVID-19 pandemic has prompted governments around the world to constantly focus on investment in vaccine development. Long read sequencing can be used to invent the vaccines or drugs needed for the COVID-19 virus. The demand for the organization of COVID-19 is growing as the death count has increased since the beginning of the infection. A concession had been granted on the production of the other drugs, but the drug such as hydroxycholroquine has increased in greater quantities because it can be used in the treatment of COVID-19. Therefore, the pharmaceutical industry and the biotechnology industry are expected to experience significant development in the near future.
The competitive landscape analysis of Long Read Sequencing market is majorly focused on expanding the global growth of Long Read Sequencing with new product innovation, business expansion, increasing presence of range of manufacturers operating in Long Read Sequencing has led to growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the required demand of consumer which is further contributing to healthy growth in the market.
The key players studied in market are
January 2023: Pacific Biosciences had collaborated with the Japanese organizations iLAC and Robotic Biology Institute to investigate the automation of the sample preparation workflow for Sequel II and IIe long read sequencing with the use of a robotic laboratory technician.
January 2023: Illumina Inc. had signed a multi-year agreement with Nashville Biosciences for the development of medicines based on large-scale genomic technologies.
By product, the Long Read Sequencing market includes the key segments of instruments, consumables, and services. The consumables segment is expected to dominate the market over the forecast period. By technology, the Long Read Sequencing market is segmented into single-molecule real-time sequencing (SMRT), nanopore sequencing and loop genomics long read sequencing. The single-molecule real-time (SMRT) sequencing segment is expected to maintain its dominance over the estimated time period. By workflow, the Long Read Sequencing market is segmented into pre-sequencing, sequencing and data analysis. The sequencing segment expected to lead the market during the forecast period. The Long Read Sequencing market has key applications in identification and fine mapping of structural variation, tandem repeat sequencing, pseudogene discrimination, resolving allele phasing, reproductive genomics, cancer, viral and microbial sequencing among others. The cancer segment is expected to dominate the market over the projected time period. The Long Read Sequencing market has major end users like hospitals and clinics, academic research, clinical research, pharma and biotech companies and others. The academic research segment is expected to lead the market over the forecast period. The global Long Read Sequencing market is studied for the following regions: North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is expected to dominate market over the forecast period due to the presence of major players in the area, the availability of a solid informatics network and consolidated regulations governing the approval and marketing of genomic testing products and services.
|Market Sizing for Year:||2019-2029|
|Market Segment studied:|
|Market Players and its Competitors:|
Pacific Biosciences of California, Inc.
F. Hoffmann-La Roche Ltd.
Oxford Nanopore Technologies Limited
Institute of Integrative Biology of the Cell
Stratos Genomics, Inc.
Future Genomics Technologies B.V.
Genome Transcriptome Facility of Bordeaux
Takara Bio, Inc
Garvan Institute of Medical Research
Thermo Fisher ScientificSt Vincents Hospital Austrailia
What would be forecast period in the market report?
2023-2029 is the forecast period in the market report
Which is the leading application segment for Long Read Sequencing market?
The cancer segment has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
Which region is gaining majority of market share during the forecast period (2023-2029)?
North America is expected to gain major market share during the forecast period (2023-2029).