Report Highlights
Global Long-Read Sequencing Market to Reach $3,305.5 Million by 2030.
Market Report Coverage - Long-Read Sequencing
Market Segmentation
- Products (Systems, Kits and Assays, Software) and Services
- Technology (Single-Molecule Real-Time (SMRT) Sequencing, Nanopore Sequencing, Synthetic Long-Read Sequencing, and Others)
- Application (Oncology, Infectious Diseases, Rare Diseases, Genetic Disorders, Metabolic Disorders, and Translational Research)
- End User (Academic and Research Institutions, Pharma and Biotech Companies, Clinical Laboratories, Hospitals and Clinics, and Other End Users)
Regional Segmentation
- North America: U.S., Canada
- Europe: Germany, France, Italy, U.K., Spain, Netherland, Russia and Rest-of-the-Europe
- Asia-Pacific: Japan, China, India, Australia, South Korea, Singapore, and Rest-of-APAC
- Latin America: Brazil, Mexico, Rest-of-Latin America
- Rest-of-the-World (RoW)
Market Growth Drivers
- Decreasing Cost of Sequencing
- Global Increase in Cancer Prevalence
- Increasing Number of Population Genomics Initiatives
Market Challenges
- Lack of High Complexity Genomic Testing Centers in High Potential Markets
- Challenges Pertaining to Genomic Data Centers
- Scarcity of Knowledge Dissemination Pertaining to Advanced Diagnostic Capabilities
Market Opportunities
- Massive Scope for Adoption of Genomic Data Analysis Software in Emerging Nations
- Novel Diagnostic Applications
Key Companies Profiled
Agilent Technologies, Inc., Beijing Genomics Institute (BGI) Genomics Co., Ltd, Bionano Genomics, Inc., F. Hoffmann-La Roche Ltd., Illumina, Inc., Longas Technologies Pty Ltd, Novogene Co., Ltd., Oxford Nanopore Technologies, Inc., Pacific Biosciences of California, Inc., PerkinElmer Inc., QIAGEN N.V., Quantapore, Inc., and Thermo Fisher Scientific Inc.
Key Questions Answered in this Report:
- How is long-read sequencing revolutionizing the field of next generation sequencing?
- What are the major market drivers, challenges, and opportunities in the global long-read sequencing market?
- What are the underlying structures resulting in the emerging trends within the global long-read sequencing market?
- How is the COVID-19 pandemic impacting the global long-read sequencing market landscape?
- What are the key development strategies that are being implemented by the major players in order to sustain themselves in the competitive market?
- What are the key regulatory implications in developed and developing regions pertaining to long-read sequencing?
- What are the potential entry barriers, which are expected to be faced by the companies willing to enter a particular region for the development of long-read sequencing?
- How is each segment of the market expected to grow during the forecast period 2021-2030, and what is the anticipated revenue to be generated by each segment? Following are the segments:
- Products (systems, kits, and assays, software) and services
- Technology (single-molecule real-time (SRMT) sequencing, nanopore sequencing, synthetic long-read sequencing, and others)
- Application (oncology, infectious diseases, rare diseases, genetic disorders, metabolic disorders, and translational research)
- End user (academic and research institutions, pharma and biotech companies, clinical laboratories, hospitals and clinics, and other end users)
- Region (North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World)
- What are the growth opportunities for the companies in the region of their operation?
- Who are the leading players with significant offerings in the global long-read sequencing market?
- Which companies are anticipated to be highly disruptive in the future, and why?
- What are the current unmet needs that are being faced in the global long-read sequencing market?
Market Overview
Long-read sequencing is overcoming early limitations in throughput and accuracy. The sequencing methods are broadening their application domains in genomics and data analysis. Dedicated analysis tools that consider the characteristics of long-read data sequencing are required, while the fast pace of development of such tools can be overwhelming. Long-read sequencing, or third-generation sequencing, offers several advantages over short-read sequencing. However, short-read sequencers such as Illumina’s NovaSeq, HiSeq, NextSeq, and MiSeq instruments, BGI’s MGISEQ and BGISEQ models, or Thermo Fisher’s Ion Torrent sequencers produce reads of up to 600 bases for long-read sequencing technologies routinely generate reads over 10 kb. Long-read sequencing analysis is a process that helps researchers and clinicians to analyze and interpret data generated by modern genomics technologies, such as NGS and PCR. As sequencing technologies are producing millions of high-quality reads per run, the adoption of robust long-read sequencing solutions has increased significantly over the past few years.
Our healthcare experts have found long-read sequencing to be one of the most rapidly evolving technologies, and the global market is predicted to grow at a CAGR of 21.15% over the forecast period of 2021-2030.
Factors fueling the growth of the market include a decrease in the cost of sequencing, a global increase in cancer prevalence, and an increase in the number of population genomics initiatives. Despite rapid advanced industry growth, there are several key issues that need to be addressed to facilitate future growth. The lack of high complexity genomic testing centers in high potential markets, challenges pertaining to genomic data storage, and scarcity of knowledge dissemination pertaining to advanced diagnostic capabilities are the major challenges for the growth of the market. Further, some of the opportunities, such as massive scope for adoption of genomic data analysis software in emerging nations, provide growth to the market.
Within the research report, the market has been segmented on the basis of products and services, technology, application, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
Competitive Landscape
The exponential rise in the cases of cancer and genetic disorders on the global level has created a buzz among companies to invest in the advanced technologies of next-generation sequencing.
Based on region, North America holds the largest share, owing to improved healthcare infrastructure, rise in per capita income, and improvised reimbursement policies in the region. Apart from this, the Asia-Pacific and Europe regions are anticipated to grow at the fastest CAGR during the forecast period.
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