The long-read sequencing market size is estimated to be USD 1,547.1 million in 2022 and is expected to witness a CAGR of 14.95% during the forecast period 2023-2033. Increasing prevalence of genetic disorders, such as cancer and chromosomal problems, the demand of personalised treatment, and technological breakthroughs that have led to the development of newer technologies, including as third-generation sequencing, are factors contributing to the market growth. Additionally, rising investments from major players in the development of advanced & efficient equipment and long read sequencing advances is projected to drive the market. However, dearth of highly advanced genomic test sites and high cost of installation process is expected to hinder the growth.

Rising investments from major players in the development of advanced & efficient equipment is predicted to propel the market. For instance, Illumina Inc. and Nashville Biosciences announced a multi-year deal in January 2022 for the development of drugs based on advanced genomic technology. In order to develop companion diagnostics, the business also worked with the German pharmaceutical company Boehringer Ingelheim.

Long read sequencing advances is anticipated to support the market growth. For instance, the technique can rapidly identify significant differences and intricate structural characteristics that may be connected to a number of clinical issues and rare disorders. Long read sequencing also makes it simple to detect chromosomal rearrangements and gene fusion events, which are frequently observed in a variety of cancer types. Numerous long read sequencing technologies have been developed and use recently. For instance, one of the long-read technologies was developed by Pacific Biosciences and is termed SMRT sequencing (PacBio). In order to decode complicated cancer genomes, long read sequencing is becoming more popular, and cancer studies based on long read data are expanding and improving.

Segmentation

By Product

The market is categorized into consumables, instruments, and services. In the global market, the consumables segment accounted for the largest revenue share in 2022 owing to the shifting towards self-utilitarian. Any laboratory personnel or laboratory setup with direct-to-consumer testing kits must meet a strict minimum standard. For instance, 23andMe offers more than 50 tests that can assess the risk of genetic disorders, and the company is approved by the FDA to do direct-to-consumer genetic testing. Additionally, it is well-known that the Australian government sends home test kits for specific cancer kinds directly to the target population. Additionally, direct-to-consumer kits can be bought in North America, Europe, the Middle East and Africa, and Asia Pacific.

By Technology

The market is categorized into nanopore sequencing and single-molecule real-time sequencing. In 2022, the single-molecule real-time sequencing segment accounted for the highest revenue share due to the fact that it has longer read durations and lower systematic bias, that results in high consensus accuracy. However, nanopore sequencing technology is expected to grow at significant rate in near future. Recently, Oxford Nanopore manufactures array chips made of protein nanopores bonded to an electrically resistant polymer. Multiple experiments can run simultaneously on a single chip due to this configuration. The company is currently employing a number of attempts to increase the usefulness of nanopore technology in the future.

By Workflow

The market is categorized into pre-sequencing, sequencing, and data analysis. In the global market, the sequencing segment accounted for the largest revenue share in 2022 owing to the fact that it is one of the most important steps in the workflow. Long read approach permits library construction and real-time sequence analysis without the use of PCR amplification. This eliminates PCR-related bias from the genome and enables scientists to study the genetic material in its original state. This allows for the direct identification of methylation and other base modifications using long read technologies. However, improvements in data analysis tools are anticipated to propel market expansion throughout the projection period. With the support of the creation of innovative tools and products, key players are increasing their market presence. For instance, Sequel Systems v9.0 Software was released by Pacific Biosciences in July 2020. The SMRT Analysis Software offers a wide range of APIs, a user-friendly graphical user interface, and versatile command-line options.

By Application

The market is categorized into tandem repeat sequencing, identification & fine mapping of structural variation, cancer, resolving phasing, viral & microbial sequencing, reproductive genomics, and others. In 2022, the cancer segment accounted for the highest revenue share due to increasing research studies and rising developments in nanopore sequencing. Oxford University researchers and Ontario Institute for Cancer Research worked together in April 2019 to employ nanopore sequencing to comprehend the patterns and mechanics of DNA replication. The purpose of the project was to understand that DNA replication works in cancerous cells. D-NAscent, a computational tool and advanced laboratory technique co-created by researchers from both institutes, enables the study and detection of DNA replication in cancerous cells.

By End User

The market is segmented into hospital & clinics, academic research, pharma & biotech entities, clinical research, and others. In 2022, the academic research segment accounted for the largest revenue share owing to existence of various biotechnology research labs that focus on genome sequencing and molecular biology. The academic research sector is also expected to be boosted by academic workshops, on-site bioinformatics courses offered by institutions, and the growing use of sequence analysis methodologies in research. The demand for advanced technology for clinical diagnostics is expected to drive the clinical research market. Growth in the long-read sequencing technology market is predicted to be fueled by its potential clinical uses in clinical settings.

Regional Markets

North America held the largest revenue share in the long-read sequencing market in 2022, and it is predicted to continue to do so throughout the forecast period. This is due to existence of key players such as Pacific Biosciences in the region, accessibility of a strong informatics network, and established regulations for the approval and marketing of genomic testing products and services. Additionally, it is anticipated that the expanding academic and clinical application of genomic techniques in the United States will drive market growth in the region. Asia Pacific is projected to grow at the fastest rate due to increasing investments in the development of advanced diagnostic methods and increasing major player penetration in the region’s expanding markets. Japan is a developing nation in the Asia-Pacific region with a growing genomics sector. As a result of the rising demand for precision medicine and the demand for better genetic knowledge, it is projected that the Japanese market for long-read sequencing will expand significantly in the near future.

Competitor Insights

Some of the key players operating in the long-read sequencing market are Pacific Biosciences of California, Inc., Genome Transcriptome Facility of Bordeaux, Stratos Genomics, Inc., Oxford Nanopore Technologies Limited, BaseClear B.V., Future Genomics Technologies B.V., MicrobesNG, Garvan Institute of Medical Research, Quantapore, Inc., NextOmics, Institute of Integrative Biology of the Cell (I2BC), and Takara Bio, Inc.

The major operational players have employed a variety of strategies to strengthen their presence in the market as this marketspace is expanding rapidly.

• For instance, Google and the California-based Pacific Biosciences announced a collaboration agreement in January 2022 to enhance the use of machine learning technologies for the evaluation of long read sequencing data.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product, technology, workflow, application, and end user from 2023 to 2033.

Report Scope:

Segmentation: Long Read Sequencing Market Report 2022 – 2033

Product (Revenue, USD Million), 2022 – 2033

• Consumables
• Instruments
• Services

Technology (Revenue, USD Million), 2022 – 2033

• Nanopore Sequencing
• Single-Molecule Real-Time Sequencing

Workflow (Revenue, USD Million), 2022 – 2033

• Pre-sequencing
• Sequencing
• Data Analysis

Application (Revenue, USD Million), 2022 – 2033

• Tandem Repeat Sequencing
• Identification & Fine Mapping of Structural Variation
• Cancer
• Resolving Phasing
• Viral & Microbial Sequencing
• Reproductive Genomics
• Others

End user (Revenue, USD Million), 2022 – 2033

• Hospital & Clinics
• Academic Research
• Pharma & Biotech Entities
• Clinical Research
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA