PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320120
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320120
Long Read Sequencing Market size was valued at USD 720.8 Million in 2022, expanding at a CAGR of 21.3% from 2023 to 2030.
Long-read sequencing is a DNA sequencing technique that enables the sequencing of much longer DNA fragments than traditional short-read sequencing methods. Long-read sequencing enables the detection of complicated structural variants that may be difficult to detect with short reads. Large inversions, deletions, or translocations are examples of these, and some have been linked to genetic illness. Currently, the two dominant producers of 'true' long-read sequencing technologies are Pacific Biosciences and Oxford Nanopore Technologies (Nanopore). Both have developed platforms for 'real-time' sequencing of nucleic acids (DNA and RNA) that are faster than current short-read 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 are repeated within the genome.
The surge in incidences of genetic disorders has certainly propelled the demand for Long Read Sequencing (LRS) technologies in the market. Variations or mutations in an individual's DNA sequence create genetic diseases. With advances in genetic research and diagnostics, scientists have gained a better comprehension of the role genetics plays in illness development. According to the World health organization, Genetic disorders and congenital abnormalities occur in about 2%-5% of all live births, accounting for up to 30% of pediatric hospital admissions, and cause about 50% of childhood deaths in industrialized countries. Genomic Research Advancements and the demand for Long-Read Sequencing technologies may provide growth opportunities for the market. however, Continued advancements addressing cost, accuracy, and adoption challenges have restricted the growth of the Long Read Sequencing Market.
The Global Long Read Sequencing Market is segmented on the basis of Product Type, Technology, Workflow, end-user, application, and Region.
The market is divided into three categories based on product type: Instruments, Consumables, and Services. The consumables segment dominates the market. Consumables play a role in providing optimal performance and dependable results in long-read sequencing operations.
The market is divided into two categories based on technology: Single Molecule Real Time Sequencing, Nanopore Sequencing, and Others. Single Molecule Real Time Sequencing dominates the market. Long-read sequencing technologies, such as Single Molecule, Real-Time (SMRT) sequencing developed by Pacific Biosciences, offer unique advantages in studying DNA and RNA molecules.
The market is divided into three categories based on workflow: Pre-sequencing, Sequencing, and Data Analysis. Sequencing dominates the market growth. Long-read sequencing refers to a class of sequencing methods that produce longer DNA or RNA sequence reads than typical short-read sequencing techniques.
The market is divided into three categories based on Application: Identification and Fine mapping of structural variation, Tandem repeat sequencing, Pseudogene Discrimination, Resolving Allele Phasing, Reproductive Genomics, Cancer, Viral and Microbial Sequencing, and Others. Cancer dominates the market. Long-read sequencing has made major advances to cancer research and has improved our grasp of the cancer genome's complicated genomic landscape.
The market is divided into two categories based on End-User: Academic & Research Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Others. Academic & Research Institutes dominates the market growth. Long-read sequencing technologies have been widely adopted by academic and research institutes for a variety of genomics and transcriptomic applications.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the growth of the Long Read Sequencing Market due to the rising utilization of sequence analysis methodologies. North America has a well-developed research infrastructure and healthcare systems that facilitate the application and adoption of advanced sequencing technology. The region has a strong network of research institutes, clinical laboratories, and sequencing service providers, which helps the market's growth. According to National Center for Science and Engineering Statistics, Overall, biological and biomedical sciences accounted for 40% of total S&E research space growth over the past 10 years. The 57.5 million NASF of biological and biomedical sciences research space also accounted for the largest share of research space, with 26% of the total. Also, European countries have made significant investments in genomics research, including large-scale sequencing projects.
Long-read sequencing is becoming more prevalent because of its capacity to provide more extensive genomic information, such as complicated genomic areas, structural variants, and repetitive sequences. In the long-read sequencing sector, several companies are actively competing, each offering their own platforms and technologies. manufacturers, along with others, continue to innovate and improve their long-read sequencing technologies, driving competition and advancements in the field. For Instance, In March 2023, Illumina Inc., a global leader in DNA sequencing and array-based technologies, nowadays announced that its first product based on its novel Illumina Complete Long Read technology is now available to order.
In May 2020, Roche Acquires Stratos Genomics to Expand Nanopore Sequencing Technology. Stratos is a genetic sequencing company and Roche is interested in the company's unique chemistry, Sequencing by Expansion (SBX). Roche hopes to advance the development of its own nanopore sequencer, which would use a new approach combining electronic and biological components to sequence DNA quickly and at low cost.