June 16, 2024
Long Read Sequencing Market

Global Long Read Sequencing Market is Estimated to Witness High Growth Owing to Technological Advancements

Long read sequencing enables scientists and researchers to generate ultra-long reads of DNA and RNA. It helps generate sequence reads of up to 100,000 bases long, enabling the resolution of complex genomic regions and investigations of genomic structures that were previously intractable.

The Global long read sequencing Market is estimated to be valued at US$ 780 Mn in 2024 and is expected to exhibit a CAGR of 30% over the forecast period 2024 To 2031.

Key Takeaways

Key players: 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.

Key opportunities: Technological advancements have enabled long read sequencing techniques to generate more accurate assemblies of complex genomic regions. This is expected to drive opportunities for long read sequencing in clinical diagnostics and personalized medicine.

Technological advancements: Global Long Read Sequencing Market Size Recent technological advancements such as semiconductor sequencing by Oxford Nanopore Technologies and SMRT sequencing by Pacific Biosciences have enabled long read sequencing of up to 100,000 bases in a single read. This has significantly improved resolution of repetitive regions, structural variants, and phasing of genetic variants.

Market Drivers:

=Increasing applications in personalized medicine: Long read sequencing helps gain insights into complex genomic regions that are difficult to resolve with short read technologies. This is supporting applications in personalized medicine for identification of disease-causing variants.

Technological advancements: Continuous improvements to technologies such as yield enhancement and read length expansion are expected to support wider adoption of long read sequencing methods.

Declining costs: Technological progress and scale economies are helping drive down the per-base costs of long read sequencing, supporting its utilization in larger-scale research and clinically-oriented studies.

Current Challenges in Global Long Read Sequencing Market

The global long read sequencing market is still in a nascent stage of growth and faces many challenges. High upfront costs of long read sequencing platforms continue to restrict their adoption globally. Furthermore, there are challenges associated with lack of standardization and data analysis bottlenecks. The average read lengths from long read sequencers are still lower when compared to costs of short read sequencers. Additionally, lack of expertise and skilled personnel required for carrying out long read sequencing experiments poses a hurdle. Sustained reduction in prices of sequencing platforms and lower turnaround times will be crucial for greater penetration especially in developing markets.

SWOT Analysis
Strength: Ability to sequence entire genomes directly without relying on short read assembly. Provides context of structural variants and epigenetic modifications.
Weakness: High instrument and reagent costs. Throughput is still lower than short read sequencers. Data analysis remains complex.
Opportunity: Scope for standardization and reduction of turnaround times. Growing applications in medical genetics, infectious diseases detection. Potential disruptive technology to replace short read sequencing.
Threats: Dominance of incumbent short read players. Requirement of special infrastructure and skilled workforce. Intense competition from other emerging technologies.

Geographical Regions
In terms of value, the North American region holds the largest share in the long read sequencing market currently. This is attributed to presence of major global players and availability of advanced healthcare research funding. Asia Pacific region is expected to witness the fastest growth during the forecast period driven by China, India and other Asian countries. Initiatives for genome projects and increasing life science R&D expenditure in Asia will support market growth.

The European region also captures a significant value share supported by ongoing collaborations between industry-academia in countries like the UK, Germany and France. Other regions including Latin America and Middle East & Africa offer promising untapped opportunities for long read sequencing technologies.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it