DUBLIN–(BUSINESS WIRE)–The “Long Read Sequencing Market Size, Share & Trends Analysis Report By Product, By Technology (Nanopore Sequencing), By Workflow, By Application, By End-Use, By Region And Segment Forecasts, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The global long read sequencing market size is expected to reach USD 3.78 billion by 2030, registering a CAGR of 30.92%
In the realm of pharmaceutical modification, the significance of sequencing methods has never been more pronounced, underscored by the growing market value attributed to the expanding knowledge of long read sequencing. The proliferation of these technologies, particularly for the analysis of structural variants, is poised to be a driving force throughout the forecast period.
Against this backdrop, ongoing research activities not only offer manufacturers a competitive edge in crafting advanced elongated read sequencing but also pave the way for an array of unexplored opportunities within the long read sequencing market. In the wake of the persistent COVID-19 pandemic, key industry players are actively collaborating with global public health laboratories and researchers to expedite the rapid sequencing of the novel coronavirus SARS-CoV-2.
Moreover, these companies are dedicatedly devising workflows to effectively characterize a diverse array of pathogens within a sample. Notably, Oxford Nanopore Technologies has recently unveiled LamPORE, a groundbreaking scalable, cost-effective, and swift assay for detecting SARS-CoV-2, showcasing the industry’s commitment to innovation in these trying times.
A rise in the prevalence of genetic disorders combined with an increase in top manufacturers’ R&D expenditures in long-read sequencing technology is projected to greatly advance the industry. The long read technique is mostly used to study genetic disorders for which disease loci are either well-known or strongly suspected.
In addition, the limitations of clinical disease research based on next-generation sequencing could be partially overcome by these technologies. Since longer reads from a single DNA molecule are used, long-read sequencing methods have a distinct advantage over other technology. Another driver of market expansion is the rising acceptance of contemporary methods for medical diagnosis. The portability and real-time speed of LRS technology are further factors contributing to its rising demand.
It is additionally utilized to create a precise reference map of the chromosome centromere. In addition, numerous biotech firms are creating cutting-edge technologies that combine a fresh approach to library preparation with tools for genomic analysis.
Accordingly, a number of researches show that LRS technology is quite useful for identifying novel harmful mutations in human disorders with unidentified genetic origins. This offers a wealth of potential for researchers to use whole-genome sequencing (WGS) technology to develop medical genetics.
Long Read Sequencing Market Report Highlights
- By technology, Single Molecule Real Time Sequencing (SMRT) dominated the market in 2021. This technique is gaining traction among professionals for various applications since the first commercial launch
- Based on products, the consumables segment accounted for the largest share in 2022. Increasing demand for reagents & kits has majorly driven the segment growth
- By application, the cancer segment captured the highest share in 2022. Increasing adoption of LRS in the field of cancer biology is anticipated to be the major factor for the segment growth
- By workflow, sequencing is the dominating segment in 2022. Increasing research in the genomics arena has resulted in growing demand for sequencing services in the global market
- Based on the end-users, academic research accounted for a significant share in 2022. The presence of a large number of biotechnology institutes that explore genomics methodologies is expected to propel the segment revenue generation
- North America dominated the global market in 2022 owing to the presence of well-established proteomics, genomics, oncology & diagnostic screening fields in the region
- Continuous efforts by key players to improve their product offerings is also contributing to the North America’s regional market growth
- Asia Pacific is anticipated to witness the fastest growth throughout the forecast period. This can be attributed to the growing penetration of key players in Asian countries as well as increasing investments in this field by key players
Company Profiles
- Pacific Biosciences of California, Inc.
- Oxford Nanopore Technologies Limited
- Quantapore, Inc.
- Element Biosciences
- BGI Genomics
- Eurofins Genomics
- Stratos Genomics, Inc.
- MicrobesNG
- NextOmics
- New England Biolabs
Market Dynamics
Market Driver Analysis
- Advantages Offered By Long Read Sequencing Techniques
- Increasing Applications In Clinical Sequencing And Analysis
- Advancements In Data Analysis Platforms
Market Restraint Analysis
- High Error Rates Of Long Read Technologies
- Technological Challenges Associated With Long Read Techniques
Industry Analysis Tools
- Porter’s Five Forces Analysis
- PESTEL Analysis
- COVID-19 Impact Analysis
Competitive Landscape
- Company Categorization
- Strategy Mapping
- Company Market Share Analysis
For more information about this report visit https://www.researchandmarkets.com/r/dh9fns
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