Long Read Sequencing Market Size to Achieve USD 5.2 billion by 2032, Fueled by a CAGR of 21.7%: Says Allied Market Research

Allied Market Research published a report, titled, ”Long Read Sequencing Market by Application (Research Applications and Clinical Applications), Technique (Single-Molecule Real-Time (SMRT) Sequencing, Nanopore Sequencing, and Synthetic Long Read Sequencing), Product (Instruments, Consumables, and Services), and End User (Academic & Government Research Institutes, Pharmaceutical & Biotech Companies, Hospitals & Clinics, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the “long read sequencing market” was valued at $0.7 billion in 2022, and is estimated to reach $5.2 billion by 2032, growing at a CAGR of 21.7% from 2023 to 2032.

The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscape. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/A14421

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐟𝐚𝐜𝐭𝐨𝐫𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐋𝐨𝐧𝐠 𝐑𝐞𝐚𝐝 𝐒𝐞𝐪𝐮𝐞𝐧𝐜𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭?

Rise in demand for precision medicine, surge in number of partnership & collaboration, and increase in initiatives taken by key players for drug delivery are the factors that drive the growth of the global long read sequencing market. However, high initial investment and costs restrict market growth. Moreover, the rise in technological advancements presents new opportunities in the coming years.

𝐓𝐨𝐩 𝐋𝐨𝐧𝐠 𝐑𝐞𝐚𝐝 𝐒𝐞𝐪𝐮𝐞𝐧𝐜𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬

• Agilent Technologies, Inc.
• BaseClear B.V.
• Cantata Bio
• Element Biosciences
• FG Technologies,
• GrandOmics,
• Illumina, Inc.
• MicrobesNG
• Novogene co., ltd.
• Oxford Nanopore Technologies plc.
• PacBio
• St Vincents Hospital Melbourne
• TAKARA HOLDINGS INC.
• Thermo Fisher Scientific Inc.
• Danaher Corporation
• BGI Genomics
• CD Genomics

The report provides a detailed analysis of these key players in the global long read sequencing market. These players have adopted strategies such as product launch, acquisition, partnership and collaboration to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐋𝐨𝐧𝐠 𝐑𝐞𝐚𝐝 𝐒𝐞𝐪𝐮𝐞𝐧𝐜𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐜𝐚𝐧 𝐛𝐞 𝐝𝐨𝐧𝐞 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐬𝐞𝐯𝐞𝐫𝐚𝐥 𝐟𝐚𝐜𝐭𝐨𝐫𝐬, 𝐢𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠:

By application, the research application segment held the largest market share in 2022, accounting for nearly three-fourths of the global long read sequencing market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to an increase in integration of genomic information into clinical practice, particularly in areas such as oncology, rare diseases, and infectious diseases, which foster the demand for sequencing technologies for diagnostic, prognostic, and therapeutic purposes.

By technique, the single-molecule real-time (SMRT) sequencing segment held the largest market share in 2022, accounting for more than two-thirds global long read sequencing market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to its high accuracy, reduced sequencing biases, enhanced detection of structural variants, and applications in diverse fields such as genomics, clinical diagnostics, and research. However, the nanopore sequencing segment is expected to register the highest CAGR of 22.4% during the forecast period. This is attributed to continuous advancements in nanopore technology, enabling longer reads, improved accuracy, and enhanced portability.

By product, the consumables segment accounted for the largest share in 2022, contributing to more than half of the global long read sequencing market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to the recurring nature of consumable purchases, such as reagents, and other materials necessary for sequencing experiments, ensures a steady revenue stream for sequencing companies.

By end user, the pharmaceutical and biotech companies segment accounted for the largest share in 2022, contributing to nearly half of the global long read sequencing market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to the pharmaceutical and biotechnology companies heavily investing in sequencing technologies to support drug discovery and development efforts, including target identification, biomarker discovery, and personalized medicine initiatives.

By region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global long read sequencing market revenue and is likely to dominate the market during the forecast period. This is attributed to its substantial investment in genomics R&D, supported by government funding, private investments, and academic collaborations.

However, Asia-Pacific is expected to witness the fastest CAGR of 22.6% from 2023 to 2032. This is attributed to rapid economic growth in countries such as China and India, which has led to increased investment in healthcare infrastructure, R&D, and biotechnology sectors, fostering a conducive environment for the adoption of advanced genomic technologies such as long read sequencing.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/A14421

Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook

• North America
  (U.S., Canada, Mexico)
• Europe
  (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
  (Japan, China, India, Rest of Asia-Pacific)
• LAMEA
  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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