CHICAGO, Aug. 12,
2024 /PRNewswire/ -- The global Long Read Sequencing
Market is expected to grow from USD 758
million in 2024 to USD 3,129
million in 2029, at a CAGR of 32.8%. The long-read
sequencing market is primarily driven by advancements in
third-generation sequencing technologies, the increasing prevalence
of genetic and rare diseases, and a growing demand for
high-throughput sequencing. Technological innovations, particularly
the integration of AI for improved data analysis and mutation
detection, enhance the effectiveness and accessibility of long-read
sequencing. However, high development costs and financial barriers
limit its widespread adoption. Opportunities exist in clinical
genomics, particularly for cancer detection and treatment
monitoring. Despite challenges related to data storage, analysis,
and validation, the market is expanding, with significant
contributions from nanopore sequencing technology and increasing
research investments. North
America leads the market, while Asia Pacific is the fastest-growing region.
Key players include Oxford Nanopore Technologies, PacBio, Illumina,
and Thermo Fisher Scientific.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140422082
Browse in-depth TOC on "Long-Read Sequencing
Market"
398 - Tables
60 - Figures
306 -
Pages
Oxford Nanopore Technologies plc: Leader in Long-Read
Sequencing Solutions
Oxford Nanopore Technologies plc (UK) is a prominent
biotechnology company specializing in proprietary platforms for
long-read sequencing. With a robust presence in over 100 countries,
the company serves clinical, academic, and research communities
globally through its strategic pricing of flow cells and
consumables. Oxford Nanopore utilizes both organic and inorganic
growth strategies to advance its business. A notable example is
their June 2023 collaboration with
the National German Initiative, aimed at advancing rare disease
research using nanopore-based genome sequencing.
PacBio: Innovator in HiFi Long-Read Sequencing
Technology
PacBio (US) is a leading life science technology firm renowned
for its HiFi long-read sequencing and single-molecule real-time
(SMRT) sequencing technologies. Catering to pharmaceutical and
biotechnology firms, universities, research institutes, and
government bodies, PacBio is known for its continuous innovation.
The company's Sequel systems, including the newest Sequel II and
Sequel III models, offer high accuracy and scalability for genomic
and transcriptomic applications. In February
2024, PacBio introduced new high-throughput library
preparation kits optimized for its Revio sequencing system.
Illumina, Inc.: Top Provider of Genome Sequencing
Solutions
Illumina, Inc. (US) stands as a leading provider of genome
sequencing solutions, focusing on genetic variant investigation and
biological functions. The company's offerings include consumables,
integrated systems, and analytical equipment for long-read
sequencing. Illumina also delivers sequencing services through its
Service and Other Revenue division. With substantial investments in
R&D, Illumina has enhanced its portfolio and accuracy. In
March 2023, the company launched its
Illumina Complete Long Read technology, compatible with its NovaSeq
X Plus, NovaSeq X, and NovaSeq 6000 Sequencing Systems for
high-performance, long-read human whole-genome sequencing.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=140422082
Long-Read Sequencing Market Segmentation: Key Areas of
Focus
In 2023, the long-read sequencing market was segmented by
offerings, technology, workflow, application, usage, and end
users.
Offerings Segmentation: Consumables Lead
The market is divided into consumables, instruments, and
services. The consumables segment held the largest market share due
to their essential role in sequencing processes, including sample
preparation, detection, and analysis. Their ongoing demand, driven
by the need for frequent replenishment, supports market growth. The
instruments segment followed, securing the second-largest
share.
Technology Segmentation: Nanopore Sequencing
Dominates
The market is categorized into nanopore sequencing,
single-molecule real-time (SMRT) sequencing, and synthetic
long-read sequencing. Nanopore sequencing held the largest share,
thanks to its extensive user base and scalable devices. SMRT
sequencing ranked second, valued for its high accuracy and long
base pair range.
Workflow Segmentation: Sequencing Takes the Lead
Segmented into sequencing, sample preparation, and data
analysis, the sequencing segment captured the largest share in
2023. This is attributed to increased demand for sequencing in
clinical genomics and personalized medicine research. Sample
preparation followed as the second-largest segment.
Application Segmentation: Whole Genome Sequencing
Leads
The market is divided into whole genome sequencing (WGS),
targeted sequencing, metagenomics, epigenetics, whole exome
sequencing (WES), and other applications. Whole genome sequencing
dominated due to the rise in projects supported by government
bodies. Targeted sequencing ranked second.
Usage Segmentation: Research Holds the Largest Share
Segmented into research and clinical use, the research segment
led in 2023, driven by growing collaborations and studies in
genomic sequencing for disease research, particularly for rare
diseases and altered genome sequences. The clinical segment
followed as the second-largest.
End Users Segmentation: Academic & Research Institutes at
the Forefront
The market is divided into academic & research institutes,
hospitals, clinics & diagnostic labs, pharmaceutical &
biotechnology companies, and other end users. Academic &
research institutes held the largest share, supported by increased
genomics research driven by the prevalence of chronic diseases like
cancer. Hospitals, clinics, & diagnostic labs secured the
second-largest share.
Regional Insights: North
America and Asia
Pacific
The long-read sequencing market is segmented into North America, Europe, Asia
Pacific, Latin America, the
Middle East, and Africa. North
America led the market in 2023, driven by government
support, a high prevalence of target diseases, and extensive
research funding. Europe followed
as the second-largest market. Asia
Pacific is expected to be the fastest-growing region, fueled
by rising chronic disease incidence, expanding clinical
diagnostics, and a focus on precision medicine.
For more information, inquire now! Inquire Now
Related Reports:
Epigenetics Market
Genomics Market
Clinical Trials Market
Next Generation Sequencing Market
Molecular Biology Enzymes Market
Get access to the latest updates on Long Read Sequencing
Companies and Long Read Sequencing Market Share
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us
on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan
Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.com/news-releases/long-read-sequencing-market-worth-3-129-million-in-2029-driven-by-technological-advancements--marketsandmarkets-302219713.html
SOURCE MarketsandMarkets