Global Long Read Sequencing Market Size To Worth USD 9.70 Billion By 2033 | CAGR of 32.77%
Category: HealthcareGlobal Long Read Sequencing Market Size To Worth USD 9.70 Billion By 2033 | CAGR of 32.77%
According to a research report published by Spherical Insights & Consulting, the Global Long Read Sequencing Market Size is Expected to Grow from USD 0.57 Billion in 2023 to USD 9.70Billion by 2033, at a CAGR of 32.77% during the forecast period 2023-2033.
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Browse key industry insights spread across 255 pages with 110 Market data tables and figures & charts from the report on the "Global Long Read Sequencing Market Size, Share, and COVID-19 Impact Analysis, By Product (Instruments, Consumables, and Services), By Technology (Single Molecule Real Time Sequencing, Nanopore Sequencing, and Others), By Application (Whole Genome Sequencing, Targeted Sequencing, Metagenomics, RNA Sequencing, Epigenetics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/long-read-sequencing-market
Third-generation sequencing, a different name for long-read sequencing, is a type of DNA sequencing technique. The early accuracy is being addressed by long-read technologies, which are also expanding their use in genomics. Long-read sequencing technologies have the potential to significantly advance knowledge of cancer, drug resistance, pathogen evolution, and genetic variation in intricate genomic regions, all of which have significant clinical care implications. The increasing number of entities dealing with genetic abnormalities would contribute to the market expansion. The growing adoption of contemporary methods for medical diagnosis is one of the main driver in the market. The portability and real-time speed of LRS technology are further factors driving to its rising demand. The market is expected to expand due to the growing use of sequence analysis techniques for academic purposes in medical institutions and the corresponding rise in research and development (R&D) expenditures. However, the higher cost per base in comparison to short-read sequencing is one of the issues restricting the long read sequencing market.
The consumables segment is predicted to hold the greatest market share through the forecast period.
Based on the product, the long read sequencing market is classified into instruments, consumables, and services. Among these, the consumables segment is predicted to hold the greatest market share through the forecast period. Consumables used in genome sequencing must be purchased frequently due to they are used multiple sequence runs.
The nanopore sequencing segment is anticipated to hold the greatest market share during the projected timeframe.
Based on the technology, the long read sequencing market is divided into single-molecule real-time sequencing, nanopore sequencing, and others. Among these, the nanopore sequencing segment is anticipated to hold the greatest market share during the projected timeframe. One major factor driving the adoption of nanopore sequencing is its capacity to immediately detect DNA/RNA molecules in real time without the need for amplification or complex sample preparation.
The whole genome sequencing segment is anticipated to hold the greatest market share during the projected timeframe.
Based on the application, the long read sequencing market is divided into whole genome sequencing, targeted sequencing, metagenomics, RNA sequencing, epigenetics, and others. Among these, the whole genome sequencing segment is anticipated to hold the greatest market share during the projected timeframe. SMRT sequencing gives access to the entire size spectrum of genetic variation in whole genomes, transcripts, and genes, it has been proven to help identify structural variation in genes.
North America is estimated to hold the largest share of the long read sequencing market over the forecast period.
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North America is estimated to hold the largest share of the long read sequencing market over the forecast period. North America owing to the availability of clear reimbursement guidelines from both public and commercial health insurance companies, facilitates patients' simple access to diagnosis and comprehensive R&D.
Asia Pacific is predicted to have the highest CAGR growth in the long read sequencing market over the forecast period. The Asia-Pacific region is attractive due to the region growing prominence as a manufacturing hub, as well as its increasing level of knowledge and intellectual achievement.
Major key players in the long read sequencing market include Illumina Inc., 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, and Others.
Recent Development
- In March 2023, Leading DNA sequencing and array-based technology company Illumina Inc. announced that its first product built on its innovative Illumina Complete Long Read technology is now available for purchase. The human whole genome sequencing (WGS) assay is a long-read, high-performance test.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the long read sequencing market based on the below-mentioned segments:
Global Long Read Sequencing Market, By Product
- Instruments
- Consumables
- Services
Global Long Read Sequencing Market, By Technology
- Single Molecule Real Time Sequencing
- Nanopore Sequencing
- Others
Global Long Read Sequencing Market, By Application
- Whole Genome Sequencing
- Targeted Sequencing
- Metagenomics
- RNA Sequencing
- Epigenetics
- Others
Global Long Read Sequencing Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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