Research Nester has released a report titled “Long Read Sequencing Market – Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The World Health Organization (WHO), in one of its statistics, stated that over 10,000 of the diseases are known to be monogenic caused by single error in a single gene in the human DNA.
The statistics portray the growing concern for genetic diseases amongst individuals worldwide which is raising the need for the use of advanced genetic treatments, such as long read sequencing, which is highly recommended in cases where repeat disease or complex chromosomal rearrangements are suspected as it can further assist patients in monitoring their condition. There is a surge in demand for long read sequencing methods backed by the concern amongst individuals for the increasing monogenic diseases. Moreover, long read sequencing methods are known 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.
The global long read sequencing market is anticipated to achieve a CAGR of 23.99% during the forecast period, i.e. 2021-2028. The market which reached USD 819 million in the year 2018 is expected to garner USD 7073.65 million by the end of 2025 by growing at 4.5x and further gain an absolute $ opportunity of USD 5503.39 million during the forecast period. Moreover, the market is also anticipated to gain an incremental $ opportunity of USD 246.65 million in the year 2020 as compared to the previous year.
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The global long read sequencing market is segmented by technology into single-molecule real-time sequencing (SMRT) and nanopore sequencing. Among these segments, the single-molecule real-time sequencing (SMRT) segment held the largest market share and is expected to cross a value of USD 4438.17 million by the end of 2028 from reached a market value of USD 527.01 million in the year 2018 by growing at 4.42x and further achieve a CAGR of 23.68% during the forecast period. Additionally, the segment is also anticipated to further gain an incremental $ opportunity of USD 156.26 million in the year 2020 as compared to the previous year and further gain an absolute $ opportunity of USD 3435.4 million during the forecast period.
Geographically, the global long read sequencing market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, the market of North America registered the largest market share of 40.89% in the year 2019 and is expected to achieve a CAGR of 24.21% during the forecast period by growing at 4.56x and further gain an incremental $ opportunity of USD 101.41 million in the year 2020 as compared to the previous year. Additionally, the market in the region is also anticipated to gain an absolute $ opportunity of USD 2291.54 million during the forecast period and cross USD 2935.15 million by the end of 2028.
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However, concerns for the lack of proper healthcare infrastructure in various countries and the high cost of the long read sequencing procedure are some of the factors anticipated to act as a barrier to the growth of the global long read sequencing market.
This report also studies existing competitive scenario of some of the key players of the global long read sequencing market, which includes 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 comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Long Read Sequencing Market – Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall long read sequencing industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global long read sequencing market in the near future.
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