Long-Read Sequencing Market to Hit $4.75 Billion by 2031, Says Growth Plus Reports

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Newark, New Castle, USA, June 26, 2023 (GLOBE NEWSWIRE) — Growth Plus Reports carried out market research of the worldwide long-read sequencing market in 2022 and estimated its market size at US$1.62 billion by 2031, the market is expected to grow at a 13.4% CAGR in terms of revenue, reaching $4.75 billion.

Analysis of the global market for long-read sequencing indicates that during the forecast period, revenue share is likely to increase significantly. A DNA sequencing technique called long-read sequencing, commonly referred to as third-generation sequencing, can determine the nucleotide sequence of large DNA sequences having between 10,000 and 100,000 base pairs at a time.

Key Takeaways: 

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  • The increasing number of patients with genetic disorders is driving the market revenue share.
  • The ability to generate longer reading segments provides more comprehensive and accurate information about genome structure, driving the market demand.
  • The investigation of a three-dimensional organization of the genome in research is increasing the market revenue growth rapidly.

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                                       Long-read Sequencing Market Scope             

Report Attribute Details
Market Size Value in 2022 US$ 1.62 billion
Revenue Forecast in 2031 US$ 4.75 billion
CAGR 13.4%
Base Year for Estimation 2022
Forecast Period 2023-2031
Historical Year 2021
Segments Covered Product, Technology, Workflow, Application, End-user, and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa


Recent Development in the Long Read Sequencing Market: 

  • In October 2022, In order to enable the Element AVITI System can do both short- and long-read sequencing on the same instrument, Element Biosciences, Inc. announced the introduction of their Element LoopSeq long-read sequencing technology kits for AVITI, a short-read squishing technique.

Competitive Landscape

A list of the companies operating in the global market for long-read sequencing includes: 

  • MicrobesNG
  • Garvan Institute of Medical Research
  • Genome Transcriptome Facility of Bordeaux
  • NextOmics
  • Oxford Nanopore Technologies Limited
  • Quantapore, Inc.
  • BaseClear B.V.

Market Drivers and Restraints: 

The global long-read sequencing market revenue is driven by the rising demand for sequencing technologies, increasing chronic genetic disorders, and the requirement for quality genome composition for better research and study. 

However, due to the ethical concerns and expense of these studies, the long-read sequencing market revenue growth is expected to be restrained. 

Market Segmentation: 

Segmentation By Products

Based on the products, the consumables segment dominates the global long-read sequencing market with the largest revenue share. This sizable share of revenue is attributed to high volumes of consumables in sequencing processes. 

Segmentation By Technology

Based on the technology, the SMRT sequencing segment dominates the global long-read sequencing market with the largest revenue share. The significant share of revenue is due to SMRT sequencing being considered ideal for sequencing metagenomic, and it is substantially faster and more accurate than other technologies. 

Segmentation By Workflow

Based on the workflow, the sequencing segment dominates the global long-read sequencing market with the largest revenue share. The significant share of revenue is due to the long-read sequencing providing library creation and real-time sequencing without PCR amplification.

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Segmentation By Application

Based on the application, the cancer segment dominates the global long-read sequencing market with the largest revenue share. The significant share of revenue is due to its application in early cancer detection and its efficiency in reading long sequences in molecular diagnosis of cancer. 

Segmentation By End User

Based on end-user, the academic research segment accounts for the highest revenue share in the global long-read sequencing market due to an increased demand for academic institutions and an expansion in genomics and molecular biology-related R&D.

Regional Growth Dynamics

Based on the region, North America, with the largest revenue share, dominates the global long-read sequencing market. This large revenue share is attributed to a large number of research institutes, well-equipped diagnostic centers, the prevalence of cancer and other chronic disease, and the adoption of advanced technologies. 

Report Coverage 

Global market research on the long read sequencing market was done in-depth by Growth Plus Reports. We looked at the core market traits, noteworthy investment prospects, regional growth trends, ten-year revenue projections, rival market participants, and mergers and acquisitions.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Products
      1. Secondary Products 
      2. Primary Products 
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2022) 
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
    4. Regulatory Landscape
    5. Reimbursements
  5. GLOBAL LONG-READ SEQUENCING MARKET – ANALYSIS & FORECAST, BY PRODUCT
    1. Consumables 
    2. Services
    3. Instruments 
  6. GLOBAL LONG-READ SEQUENCING MARKET – ANALYSIS & FORECAST, BY TECHNOLOGY
    1. Single-Molecule Real-Time Sequencing (SMRT)
    2. Nanopore Sequencing
    3. others
  7. GLOBAL LONG-READ SEQUENCING MARKET – ANALYSIS & FORECAST, BY WORKFLOW
    1. Pre-sequencing
    2. Sequencing
    3. Data Analysis
  8. GLOBAL LONG-READ SEQUENCING MARKET – ANALYSIS & FORECAST, BY APPLICATION
    1. Identification & Fine Mapping of Structural Variation
    2. Pseudogene Discrimination
    3. Resolving Allele Phasing
    4. Tandem Repeat Sequencing
    5. Reproductive Genomics
    6. Cancer
    7. Viral & Microbial Sequencing
    8. Others
  9. GLOBAL LONG-READ SEQUENCING MARKET – ANALYSIS & FORECAST, BY END-USER
    1. Academic Research
    2. Clinical Research
    3. Pharma & Biotech Industries 
    4. Others

LONG-READ SEQUENCING MARKET TOC

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