Research Shows Long Read Sequencing Market is Rising at 22.3% CAGR by 2028

The Insight Partners published latest research report on "Long Read Sequencing Market Trends Report, Size, Share, Growth Rate Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology, Product, Application, End User and Geography," the global market size was valued at USD 1,101.15 million in 2020 and it is projected to reach USD 5,334.68 million by 2028; it is expected to grow at a CAGR of 22.3% during 2021–2028.

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Global Long Read Sequencing Market Growth Drivers:

•           Increasing demand for personalized medicine: Long read sequencing technology is essential for identifying individual genetic variations that can lead to personalized medical treatments. As the demand for personalized medicine grows, so does the need for long read sequencing technology.

•           Advancements in sequencing technology: Advances in sequencing technology have made long read sequencing faster, more accurate, and more affordable. This has made it easier for researchers and healthcare professionals to incorporate long read sequencing into their work.

•           Growing applications in research and clinical diagnostics: Long read sequencing technology has a wide range of applications in both research and clinical diagnostics, including cancer genomics, infectious disease detection, and microbiome analysis. As these applications continue to grow, the demand for long read sequencing technology is expected to increase.

•           Increasing investment in genomics research: Governments and private companies around the world are investing heavily in genomics research, which is driving the demand for long read sequencing technology. This investment is expected to continue to increase in the coming years, further fueling the growth of the long read sequencing market.

•           Rising demand for NGS data analysis: With the increasing demand for next-generation sequencing (NGS) data analysis, long read sequencing technology is becoming increasingly important. This is because long read sequencing technology can provide more accurate and complete data, which is essential for many applications.

Global Long Read Sequencing Market Analysis - Recent Developments:

•           Launch of new long read sequencing platforms: Several new long read sequencing platforms have been launched recently, including the PacBio Sequel IIe and the Oxford Nanopore Technologies GridION X5. These platforms offer increased throughput and accuracy, making long read sequencing more accessible to researchers and healthcare professionals.

•           Increasing use of long read sequencing in clinical diagnostics: Long read sequencing is becoming more commonly used in clinical diagnostics, with several applications receiving regulatory approval. For example, PacBio's long read sequencing platform was recently approved by the US Food and Drug Administration (FDA) for use in identifying certain genetic mutations associated with cancer.

•           Development of long read sequencing-based tests for infectious diseases: Long read sequencing has shown promise in identifying infectious diseases, including COVID-19. Several companies have developed long read sequencing-based tests for COVID-19 that offer high accuracy and sensitivity.

•           Growing partnerships and collaborations: Companies in the long read sequencing market are forming partnerships and collaborations to expand their offerings and capabilities. For example, PacBio recently announced a collaboration with Agilent Technologies to develop a long read sequencing-based diagnostic test for breast cancer.

•           Advancements in data analysis tools: As the amount of data generated by long read sequencing increases, the need for advanced data analysis tools also grows. Companies are developing new software and analysis tools to help researchers and healthcare professionals make sense of the data generated by long read sequencing.

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Global Long Read Sequencing Market Share Report, Segmentations, Regional & Country Scope:

Cardiovascular diseases (CVDs) such as atherosclerosis, angina pectoris, and acute myocardial infarction are among the significant causes of mortality in the world owing to the hectic present-day lifestyle. As per the World Health Organization (WHO)'s data, CVDs are the number 1 cause of death globally, taking an estimated 17.9 million lives each year. Diabetes is one of the life-threatening chronic diseases with no functional cure. Diabetes of all types can lead to various complications in different parts of the body and can increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with diabetes. According to the International Diabetes Federation (IDF), in 2017, 46 million diabetic patients were reported in North America, which is expected to reach 62 million in by 2045. As instances of chronic diseases are increasing faster, the research on genomics and utilization of LRS for life-threatening illnesses has progressed rising rapidly over the past last five years, thereby driving it is anticipated to drive the market growth during the forecast period.

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 players operating in the long read sequencing market, and these players focus on product development and innovation to sustain their market positions.

Browse key market insights spread across 125 pages with 136 list of tables & 83 list of figures from the report, "Long Read Sequencing Market Share Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Single-Molecule Real-Time Sequencing (SMRT), Nanopore Sequencing, Loop Genomics Long Read Sequencing), Product (Instruments, Consumables, Services), Application (Identification and fine mapping of structural variation, Tandem Repeat Sequencing, Pseudogene discrimination, Resolving allele phasing, Reproductive genomics, Cancer, Viral and Microbial Sequencing, Others), Workflow (Pre-sequencing, Sequencing, Data Analysis), End User (Academic Research Institutes, Hospitals and Clinics, Pharma and Biotechnology Companies) and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/long-read-sequencing-market

Long Read Sequencing Market Analysis – Segmentation Overview:

Based on workflow, the global long read sequencing market is segmented into pre-sequencing, sequencing, and data analysis. The sequencing segment held the largest market share of the market in 2020, and the same segment is expected to register the highest CAGR during 2021–2028.

Based on end-user, the global long read sequencing market is segmented into academic research institutes; , hospitals and clinics; , and pharma and biotechnology companies. The academic research institutes segment held the largest share of the market in 2020, and the same segment is expected to register the highest CAGR during 2021–2028the forecast period.

Based on technology, the global long read sequencing market is bifurcated 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 a the largest market share of the market in 2020, and the loop genomics long read sequencing segment is expected to register the highest CAGR during the forecast period.

Based on product, the global long read sequencing market is segmented into instruments, consumables, and services. The instruments segment held the largest share of the market in 2020. However, the services segment is expected to register the highest a higher CAGR in the market during 2021–2028.

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