Research Nester has released a report titled “Long Read Sequencing Market –Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global long read sequencing market in terms of market segmentation by technology, product, workflow, application, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global long read sequencing market is segmented by technology into single-molecule real-time sequencing (SMRT) and nanopore sequencing, out of which, the single-molecule real-time sequencing (SMRT) segment held the largest market share and is expected to achieve a CAGR of 23.68% during the forecast period, i.e. 2021-2028. Further, the market reached a market value of USD 527.01 million in the year 2018 and is expected to cross a value of USD 4438.17 million by the end of 2028 and further gain an incremental $ opportunity of USD 156.26 million in the year 2020 as compared to the previous year. Additionally, the segment is also anticipated to grow by 4.42x and further gain an absolute $ opportunity of USD 3435.4 million during the forecast period.
The global long read sequencing market is anticipated to achieve a CAGR of 23.99% during the forecast period. The market is expected to garner USD 7073.65 million by the end of 2025 from USD 819 million in the year 2018 by growing at 4.5x and is further anticipated to gain an incremental $ opportunity of USD 246.65 million in the year 2020 as compared to the previous year. Moreover, the market is also anticipated to gain an absolute $ opportunity of USD 5503.39 million during the forecast period.
Regionally, the global long read sequencing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market of North America registered the largest market share of 40.89% in the year 2019 and the region is further anticipated to gain an incremental $ opportunity of USD 101.41 million in the year 2020 as compared to the previous year. The market in the region is expected to achieve a CAGR of 24.21% during the forecast period by growing at 4.56x and is further expected to cross USD 2935.15 million by the end of 2028 and further gain an absolute $ opportunity of USD 2291.54 million during the forecast period.
Increasing Prevalence of Genetic Disorders
Growing concern for the prevalence of genetic disorders, along with the concern amongst individuals for the increasing monogenic diseases is anticipated to create a surge in demand for long read sequencing methods. In the statistics by the World Health Organization (WHO), over 10,000 of the diseases are known to be monogenic caused by single error in a single gene in the human DNA. The long read sequencing techniques are highly recommended in cases where repeat disease or complex chromosomal rearrangements are suspected as it can further assist patients in monitoring their condition. The process therefore helps to empower patients to more readily work with healthcare providers to manage their conditions and improve care. Such factors are anticipated to drive the growth of the global long read sequencing market.
However, concerns regarding the high cost of the long read sequencing procedure along with the lack of proper healthcare infrastructure in various countries are some of the factors anticipated to restrict the growth of the global long read sequencing market.
This report also provides the existing competitive scenario of some of the key players of the global long read sequencing market, which includes company profiling of Oxford Nanopore Technologies, Pacific Biosciences of California, Inc. (NASDAQ: PACB), FG Technologies, Stratos Genomics, QIAGEN (NYSE: QGEN), Takara Bio Inc. (TYO: 4974), Quantapore, Inc. and BaseClear B.V. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global long read sequencing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.