The Global Long Read Sequencing Market allows for sequencing of long strands of DNA known as long reads. The technologies involve single-molecule real-time sequencing and nanopore sequencing which help generate long reads that are 10,000-100,000 base pairs in length. This helps obtain consensus sequences for entire microbial genomes and other complex genomic regions with high structural variations. The advantages of long read sequencing include detection of insertions, deletions, and structural variants with high accuracy. With genome sequencing finding increasing applications in clinical diagnostics, outbreak investigation, and precision medicine, there is a need for technologies that can sequence complete genomes and assemble complex genomic regions efficiently.

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 2024 To 2031.

Key Takeaways

Key players operating in the Global Long Read Sequencing are Illumina Inc., Pacific Biosciences, Oxford Nanopore Technologies, PerkinElmer, Stratos Genomics, Phase Genomics, 10x Genomics, Genapys, Bionano Genomics. Illumina Inc. and Pacific Biosciences are the key established players, while Oxford Nanopore Technologies is gaining market share rapidly.

The growing demand for comprehensive genomic information from single-cell sequencing to metagenomics is driving the adoption of long read sequencing technologies. The ability to detect structural variants and assemble complete genomes is boosting several clinical applications.

Long read sequencing companies are also expanding their presence globally by enhancing their product portfolio and building partnerships with academic and research institutions. The increasing accessibility of technologies in new geographies will support the market growth over the forecast period.

Market Drivers

The primary growth driver for the Global Long Read Sequencing Market Size  is the declining prices of long read sequencing. While earlier technologies involved much higher costs, newer platforms from Oxford Nanopore, PacBio, and 10x Genomics have significantly lowered the price per genome. This has enabled the use of long read sequencing in a diverse set of applications instead of being limited to specialty use cases. Secondly, the growing applications of complete genome information in clinical diagnostics, agriculture, and outbreak management are creating a strong demand for technologies like long read sequencing that provide structural and phased variant information. Continuous technological advancements are also helping long read sequencing achieve throughput, length, and accuracy needed for wide adoption.

Impact of geopolitical situation on Global Long Read Sequencing market growth:

The Global Long Read Sequencing market is witnessing strong growth over the forecast period. However, the current geopolitical tensions between major countries are negatively impacting the market. Restrictions on technology transfers and investments from some countries are hampering R&D collaborations between companies. Rising nationalism and trade barriers are disrupting established global supply chains in the industry. This is increasing costs and delays in next-gen sequencing instruments and consumables. The market players need to closely monitor changes in international relations and trade policies of key economies. They will need to diversify their manufacturing and supplier base globally to mitigate risks from trade conflicts. Adopting a multi-local strategy and expanding presence in strategically important emerging markets will help boost market access. Companies also need to invest more in developing sequencing applications for infectious disease surveillance to enhance national biosecurity preparedness.

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