Long Read Sequencing Market to reach US$ 5,334.68 million by 2028 COVID-19 Impact and Global Analysis By Technology Application and Geography By The Insight Partners
Long Read Sequencing Market: Insight
According to the latest study on “Long Read Sequencing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Product, Application, Workflow, and End User,” the market was valued at US$ 1,101.15 million in 2020 and it is projected to reach US$ 5,334.68 million by 2028; it is expected to grow at a CAGR of 22.3% during 2021–2028. The report highlights trends prevailing in the global market, and drivers and restraints pertaining to the market growth. Factors such as the advantages of long read sequencing and increasing prevalence of chronic diseases fuel the growth of the long read sequencing market. However, the lack of skilled professionals hinders the market growth.
The long read sequencing is a DNA sequencing technique. It offers numerous distinct advantages than next-generation sequencing technologies such as more precisely sequence DNA containing the same sections of DNA repeated within the genome.
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Long Read Sequencing Market Competitive Landscape
Oxford Nanopore Technologies; Tataa Biocenter; Illumina, Inc; Perkinelmer Inc.; F. Hoffmann-La Roche Ltd.; Baseclear B.V.; Bionano Genomics; Longas Technologies; Pacific Biosciences of California, Inc.; and Quantapore, Inc are among the key players operating in the long read sequencing market.
These companies focus on partnerships, mergers, product launches, and collaborations to sustain their positions in the market. For instance, in January 2021, Illumina Announced new sequencing system, collaboration with Roche, and software suite to accelerate genomics adoption. Furthermore, Roche will work with Illumina to add additional companion diagnostic (CDx) statements to Illumina's robust pan-cancer assay TruSight Oncology 500 (TSO 500). Moreover, in March 2021, The Oxford Nanopore Ultra-Long DNA Sequencing Kit, when used in conjunction with Circulomics Nanobind Kits, is designed to maximise the number of ultra-long reads and has allowed the continuous sequencing of single DNA fragments of up to 3+ Mb externally and 4+ Mb internally. Using this method, users can achieve more than 100 reads over 1 Mb per PromethION flow cell run.
Many adults aged 60 years and above suffer from two or more chronic illnesses. Genes play a role in chronic diseases such as cardiovascular disease, diabetes, obesity, RA, Alzheimer's disease (AD), and depression, according to twin research. According to the Centers for Disease Control and Prevention (CDC), about 6 out of 10 individuals in the US are affected by at least one chronic disease, as well as 4 out of 10 are suffering from two or more chronic diseases. Furthermore, cancer is primarily caused by genomic errors. Researchers have analyzed cancer genomes using a variety of rapidly evolving sequencing technologies in order to better understand cancer cells' molecular status and expose their vulnerabilities such as driver mutations or gene expression. The researchers were able to recognize and classify new forms of cancerous mutations using long-read technologies, including complex structural variants in haplotype resolution. In recent years, several long read sequencing technologies have been developed and used. For example, Pacific Biosciences developed SMRT sequencing, which is one of the long read methods (PacBio). Long read sequencing is becoming more common, and cancer studies based on long read data are growing and advancing in order to decode complex cancer genomes.
Advantages of Long Read Sequencing Drives Long Read Sequencing Market
Long-read technologies are overcoming early limitations of accuracy and throughput and mounting their application in the fields of genomics. Long read sequencing or third-generation sequencing offers several advantages over short-read sequencing. While short-read sequencers such as Illumina’s HiSeq, NovaSeq, NextSeq, and MiSeq instruments, BGI’s MGISEQ and BGISEQ models; or Thermo Fisher’s Ion Torrent sequencers produce reads of up to 600 bases, long read sequencing technologies regularly generate reads over 10 kb.
Further, long reads can improve de novo assembly, mapping certainty, transcript isoform identification, and detection of structural variants. Also, long read sequencing of native molecules, i.e., DNA and RNA eliminates amplification bias while preserving base modifications. With continuing progress in accuracy, throughput, and cost reduction, these capabilities have begun to make long read sequencing an option for a broad range of applications in genomics for model and non-model organisms.
Long Read Sequencing Market: Segmentation
The global long read sequencing market, based on technology, is segmented into single-molecule real time sequencing (SMRT), nanopore sequencing, and loop genomics long read sequencing. The single-molecule real time sequencing (SMRT) segment held the largest share of the market in 2020. However, the loop genomics long read sequencing segment is expected to register the highest CAGR in the market during the forecast period.
Based on application, the global long read sequencing market is segmented into identification and fine mapping of structural variation, tandem repeat sequencing, pseudogene discrimination, resolving allele phasing, reproductive genomics, cancer, viral and microbial sequencing, and others. The identification and fine mapping of structural variation segment held the largest share of the market in 2020, and the cancer segment is expected to register the highest CAGR from 2021 to 2028.
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