Major contributors to the long read sequencing market scope are third-generation sequencing technologies and the rising prevalence of genetic and rare diseases. AI drives advancements in sequencing, streamlining data analysis to swiftly detect genetic mutations using sophisticated algorithms.
The report Long-Read Sequencing Market is expected to reach USD 3,129 million in 2029 from USD 758 million in 2024, at a CAGR of 32.8% during the forecast period.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140422082
Browse
- 398 Market Data Tables
- 60 Figures
- 306 Pages and in-depth TOC on ” Long-Read Sequencing Market – Global Forecast to 2029”
Some of the prominent key players are:
- Oxford Nanopore Technologies plc. (UK),
- PacBio (US),
- Illumina, Inc. (US),
- Agilent Technologies, Inc. (US),
- Thermo Fisher Scientific Inc. (US),
- 10X Genomics, Inc. (US) and many more……
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Long-Read Sequencing Market.
DRIVER: Technological Advancement in genome sequencing
Dealing with the constraints of short-read sequencing technology, long-read sequencing has grown important. The long-read sequencing has revealed numerous underappreciated genomic characteristics including structural variations and repetition arrays. Long-read sequencing enables investigation of previously unreported genomic areas that were challenging to research, and helps investigators to grasp the whole spectrum of human genetic variation. Single-molecule real-time sequencing and nanopore-based sequencing are the two primary forms of long-read sequencing technology. Developed by PacBio (US). High-fi sequencing represents an advancement in SMRT sequencing with an accuracy approaching 99.99%, HiFi sequencing provides sequence lengths of 10–20 kilobase pairs (kbp). This development has facilitated the identification of structural variants and enabled the decoding of acrocentric short arms and centromeres, two repeating sequences of the genome.
OPPORTUNITY: Rising demand for long-read sequencing in clinical genomics
By allowing the identification of a wide spectrum of genetic variants and fusion events, especially in illnesses like cancer, long-read sequencing technology holds great potential in clinical genomics. Long-read sequencing, unlike conventional short-read sequencing, can run in real-time, therefore removing the requirement to batch samples. In urgent clinical conditions and for employing fresh or fresh frozen samples, this capacity is especially helpful. Long-read sequencing shines in detecting important gene fusion events guiding therapy decisions in cancer diagnosis. In chronic myeloid leukemia, for instance, Long-read sequencing finds the BCR-ABL fusion protein—essential for focused treatments. More sensitive than short-read sequencing techniques, long-read sequencing can identify structural variants linked to treatment resistance, therefore enhancing the accuracy of illness diagnosis and therapy monitoring.
Market Segmentation: –
- By offerings, the long-read sequencing market is segmented into consumables, instruments, and services. The consumables segment accounted for the largest share of the long-read sequencing market in 2023. The large share of the consumables segment can be attributed to the rising demand for genome sequencing, which is driving the consumption of consumables for sequencing.
- By technology, the long-read sequencing market is segmented into nanopore sequencing, single-molecule real-time sequencing, and synthetic long-read sequencing. The nanopore sequencing segment accounted for the largest share of the long-read sequencing market in 2023.
- By workflow, the long-read sequencing market is segmented into sequencing, sample preparation, and data analysis. The sequencing segment accounted for the largest share in 2023. The sequencing segment accounted for the largest share, as sequencing forms the largest part of the workflow of the long-read sequencing market.
- By Application, the long-read sequencing market is segmented into whole genome sequencing, targeted sequencing, metagenomics, epigenetics, whole exome sequencing, and other applications. In 2023, the whole genome sequencing segment accounted for the largest share of the long-read sequencing market.
- By usage, the long-read sequencing market is segmented into research and clinical. The research segment accounted for the largest share of the long-read sequencing market in 2023.
- The long-read sequencing market is segmented into six major regions, namely, North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America is the largest regional market for long-read sequencing in 2023, while Europe is the second-largest market.
Recent Developments of Long Read Sequencing Industry.
- In May 2024, Oxford Nanopore Technologies collaborated with Twist Bioscience to launch a new Pharmacogenomics Beta Programme. This long-read pharmacogenomics solution, available for research use, is designed to provide clear genetic results in a single end-to-end workflow from sample to pharmacogenomics star allele call.
- In September 2023, PacBio announced a partnership with Hamilton, Integra, Revvity, and Tecan to create fully automated protocols to prepare samples for sequencing on Revio and Sequel II and IIe systems.
- In March 2023, Illumina Inc. launched its first product based on its novel Illumina Complete Long Read technology. The high-performance, long-read, human whole-genome sequencing assay – Illumina Complete Long Read Prep, Human – is compatible with Illumina NovaSeq X Plus, NovaSeq X, and NovaSeq 6000 Sequencing Systems.
Growth in the long-read sequencing market is mainly driven by the increased demand for whole genome sequencing backed by human genome projects. The rising awareness of genome sequencing in disease diagnosis and treatment is also supporting the market growth. Further, the technological advancements in genome sequencing like increased accuracy and read lengths are driving the growth. However, the high-cost investments to develop long-read sequencing technologies are the major factors expected to restrain the growth of this market to a certain extent.
Content Source: –
