Global Long Read Sequencing Market Size study & Forecast, by Product (Instruments, Consumables, Services), by Technology (Single Molecule Real Time Sequencing, Nanopore Sequencing, Others), by Workflow (Pre-sequencing, Sequencing, Data Analysis), by Appli

Global Long Read Sequencing Market Size study & Forecast, by Product (Instruments, Consumables, Services), by Technology (Single Molecule Real Time Sequencing, Nanopore Sequencing, Others), by Workflow (Pre-sequencing, Sequencing, Data Analysis), by Application (Whole Genome Sequencing, Targeted Sequencing, Metagenomics, RNA Sequencing, Epigenetics, Others), by End use (Academic & Research Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Others), and Regional Analysis, 2023-2030

Global Long Read Sequencing Market is valued at approximately USD 455.1 million in 2022 and is anticipated to grow with a healthy growth rate of more than 30.92% over the forecast period 2023-2030. The Long Read Sequencing Market encompasses a range of products, services, and technologies dedicated to DNA sequencing methods capable of producing extended and contiguous sequences of genetic information, enabling in-depth analysis of genomes and other biological entities. It involves the development of long read sequencing platforms, instruments, reagents, and associated software solutions, driving advancements in genomics research, personalized medicine, and other applications in the life sciences field. The Long Read Sequencing Market is being driven by factors such as the increasing prevalence of chronic diseases and Increasing Applications in Clinical Diagnostics
Long Read Sequencing enables the generation of longer and contiguous DNA sequences, allowing for a more accurate and comprehensive analysis of the genome. This helps identify genetic variations, including rare or structural variants that are associated with chronic diseases such as diabetes, cardiovascular diseases, and cancer. According to American heart association, In 2020, the global prevalence of diabetes was 243.3 million males and 229.0 million females, while the economic burden of diabetes amounted to $1.3 trillion in 2015, projected to rise to $2.1 to $2.5 trillion by 2030. Moreover, the International Agency for Research on Cancer (IARC), The estimated increase in the worldwide burden of cancer is 27.5 million new cases by 2040 from 1.9 million new cases in year 2021. Thus, the increasing economic burden of chronic diseases is fueling the growth of Long Read Sequencing Market. In addition, advancements in data analysis platforms and increasing applications in Whole Genome Sequencing create lucrative opportunities for the market. However, the high error rates of long read technology hinder the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Long Read Sequencing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the availability of a strong informatics network and well-established rules for the approval and marketing of genomic testing products and services. Asia Pacific is considered as the fastest growing region over the forecast period owing to increased investments in the development of state-of-the-art diagnostic techniques, alongside the expanding presence of major players aiming to capitalize on the opportunities.

Major market player included in this report are:
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

Recent Developments in the Market:
 In March 2023, Illumina introduced its advanced Illumina Complete Long Read Prep, a Human assay, designed specifically for performing high-performance whole-genome sequencing of human DNA. These would result in rising company’s market share in the global market.

Global Long Read Sequencing Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Product, Technology, Workflow, Application, End Use, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Instruments
Consumables
Services

By Technology:
Single Molecule Real Time Sequencing
Nanopore Sequencing
Others

By Workflow:
Pre-sequencing
Sequencing
Data Analysis

By Application:
Whole Genome Sequencing
Targeted Sequencing
Metagenomics
RNA Sequencing
Epigenetics
Others

By End Use:
Academic & Research Institutes
Hospitals & Clinics
Pharmaceutical & Biotechnology Companies
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
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

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