Long read sequencing techniques are used to sequence strands of DNA and RNA over thousands of bases in a single pass. The long reads produced allow for easier alignment of sequences to reference genomes and discovery of structural variants. Long read sequencing has advantages over short read sequencing allowing for phasing, assembly of complex regions, detection of epigenetic modifications and isoform sequencing of RNA.
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 from 2024 to 2031.
Key Takeaways
Key players operating in the long read sequencing market are Illumina Inc., Pacific Biosciences, Oxford Nanopore Technologies, PerkinElmer, Stratos Genomics, Phase Genomics, 10x Genomics, Genapys, Bionano Genomics. The growing application of long read sequencing in clinical diagnostics and precision medicine is driving the market growth. Technological advancements including improved accuracy, longer read lengths, and higher throughput are further fueling the adoption of long read sequencing.
Key players operating in the long read sequencing are Illumina Inc., Pacific Biosciences, Oxford Nanopore Technologies. Illumina Inc. is a leading player with its sequencing by synthesis technology. Global Long Read Sequencing Market Size Pacific Biosciences offers single molecule real time sequencing technology. Oxford Nanopore Technologies provides protein nanopore technology for long read sequencing.
The key growing demand in market includes increased application in genomics research and precision medicine. Long reads help in assembling complex genomes, phasing variants, sequencing native RNA and DNA structures. This is driving usage of long read sequencing in clinical diagnostics, population genomics, agricultural and pharmaceutical research.
Technological advancement of market includes improved accuracy and read lengths of sequencers. 3rd generation long read sequencing technologies like nanopore sequencing can now routinely achieve reads over 100kb. Technologies are also witnessing higher throughput allowing processing of thousands to millions of DNA molecules in parallel. Players are focused on reducing cost per sequenced gigabase to further augment adoption.
Market Trends
Some of the key trends in the long read sequencing market include increased adoption of portable and real time sequencers. Players are focusing on developing portablesequencing devices and kits for real time, point-of-care application. The other trend is integration of long read sequencing data with artificial intelligence and machine learning. AI and ML algorithms can improve read accuracy, automate analysis and power clinical decision support systems when applied to long read data.
Market Opportunities
The key opportunities in the long read sequencing market involve increased application in metagenomics, transcriptomics and DNA/RNA structureanalysis. Long reads allow comprehensive profiling of microbiomes in different environments, developmental stages and disease states. They also aid in complete transcript isoform analysis and discovery of fusion transcripts. RNA structural sequencing opens up opportunities in understanding gene regulation and antiviral drug design. Tackling clinical sample input amount and turnaround time reduction present opportunities for players as well. Addressing these opportunities can accelerate long read sequencing adoption.
Impact of COVID-19 on Global Long Read Sequencing Market
During the height of the COVID-19 pandemic in 2020, companies in the long read sequencing market witnessed declining revenues due to lockdowns which disrupted supply chains and stalled laboratory operations. However, with relaxations in restrictions from mid-2020, demand for long read sequencing technology increased significantly as it aided COVID-19 genome surveillance and vaccine/therapeutic research. Looking ahead, the pandemic has expanded awareness about genomic sequencing applications in public health, increasing adoption post-pandemic. Meanwhile, North America leads the market in terms of revenues due to presence of major players and infrastructure. The Asia Pacific region is witnessing fastest growth on account of ongoing healthcare investments and genome mapping initiatives in high growth economies.
Geographical Regions with highest revenue in Global Long Read Sequencing Market
North America leads the global long read sequencing market in terms of revenue generation. Presence of major market players such as Illumina, Oxford Nanopore and Pacific Biosciences along with advanced research infrastructure has consolidated North America’s position as the dominant regional market. The United States particularly captures a significant market share owing to substantial funding for genomic and precision medicine research by both public and private organizations. In addition, growing initiatives encouraging adoption of next generation sequencing technologies in clinical settings further propels the North America long read sequencing market.
Fastest growing geographical region in Global Long Read Sequencing Market
Meanwhile, Asia Pacific market is considered as the fastest growing regional market for long read sequencing globally. Countries like China and India offer massive untapped opportunities for market players. This is attributed to increasing healthcare investments, expanding scientific research capabilities, and rising efforts toward large scale genome mapping projects in these high economic growth nations. Additionally, improving access to modern diagnostic technologies and growing collaborations between international life sciences companies and regional research institutes are fueling adoption of long read sequencing platforms in the Asia Pacific region. With their large patient pools and emerging biotech sectors, China and India are expected to be at the forefront of the Asia Pacific region’s exponential growth in the global long read sequencing space.
