The Global Long Read Sequencing Market is Set to Witness High Growth due to Rapid Advancements in Genome Sequencing Technologies

 
Global Long Read Sequencing Market

The global long read sequencing market comprises technologies and products that are involved in sequencing long strands of deoxyribonucleic acid (DNA) or complementary deoxyribonucleic acid (cDNA). Long read sequencing helps in expanding genomic maps, aids in complex structural variant detection, and provides insights about transcript isoforms and epigenetic patterns. It assists in genome mapping and assembly, structural variation detection, and isoform discovery. The long read sequencing eliminates the need for short reads assembly and resolves complex genomic regions that are difficult to characterize using short read technologies.

The Global Long Read Sequencing Market Size is estimated to be valued at US$ 780 MN in 2024 and is expected to exhibit a CAGR of 30% over the forecast period from 2024 to 2031.


Key Takeaways
Key players operating in the global long read sequencing market are Illumina Inc., Pacific Biosciences, Oxford Nanopore Technologies, PerkinElmer, Stratos Genomics, Phase Genomics, 10x Genomics, Genapys, Bionano Genomics. Illumina Inc. is one of the prominent players with over 50% market share in long read sequencing industry.
Key opportunities in the market include advancements in real-time sequencing technologies, increasing applications across various industries and improvements in sequencing chemistries.
The long read sequencing market players are focusing on global expansion by establishing partnerships, collaborations, acquiring regional players and opening new research laboratories across regions. For instance, Oxford Nanopore technologies announced partnerships with AWS, Anthropic to accelerate long read sequencing adoption.

Market Drivers
Rapid advancements in genome sequencing technologies is the key driver accelerating the market growth. Continuous innovations are improving accuracy, throughput and bringing down costs of long read sequencing.

Market Restraints
High instrument costs associated with long read sequencing technologies is a major challenge limiting widespread adoption. While prices are declining, long read sequencing platforms are still expensive requiring large capital investments limiting their use to only top research institutes currently.

Segment Analysis
The global long read sequencing market can be segmented by product type, technology, application, end-user and geography. Based on product type, the consumables segment dominated the market in 2021 as consumables are required for sample preparation, library generation and amplification before long read sequencing. Based on technology, the single-molecule real-time sequencing sub-segment held the largest share of the market in 2021 owing to its ability to generate long sequence reads accurately without bias or complexity. Based on application, the whole genome sequencing application dominated in 2021 due to increasing applications of whole genome sequencing in clinical diagnostics, personalized medicines and prenatal testing. Based on end-user, hospitals and clinics segment held the highest share in the market due to growing applications of long read sequencing in reproductive health, oncology, and rare genetic disease diagnostics.

Global Analysis
On the basis of geography, North America dominated the global long read sequencing market in 2021 owing to presence of well-established healthcare infrastructure, ongoing long read sequencing research activities, and presence of key market players in the region. However, Asia Pacific is expected to witness fastest growth during the forecast period due to rising healthcare expenditure, increasing awareness regarding precision medicine, and growing collaborations between research institutes and market players in countries such as China and India. The growth is also attributed to growing adoption of clinical diagnostics, rising number of genetic disorders, and increasing research funding by public-private organizations in the emerging APAC economies.

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