by These sequencing techniques offer decisive advantages over short-read technologies such as longer reads, faster analysis of structural variants, and phasing of heterozygous genotypes. The market comprises systems, consumables, and software solutions required for long read sequencing applications.
The Global Long Read Sequencing Market is estimated to be valued at US$ 780 Mn in 2024 and is expected to exhibit a CAGR of 30% over the forecast period from 2024 to 2031.
Key players operating in the long read sequencing market are Illumina Inc., Pacific Biosciences, Oxford Nanopore Technologies, PerkinElmer, Stratos Genomics, Phase Genomics, 10x Genomics, Genapys, and Bionano Genomics. These players provide novel long read sequencing platforms that simplify workflow and accelerate routine sequencing of complex genomes.
The growing demand for long range genomic and epigenomic information from researchers and clinicians is a key factor driving the long read sequencing market. While short read technologies provide valuable insight, they are limited for applications that require examination of complete gene structures, structural variants, and genomes with high repetitiveness. Long read sequencing helps address these challenges through continuous long reads up to hundreds of kilobases.
Global Long Read Sequencing Market Size is further expected to rise over the forecast period. Compared to short read platforms that are ubiquitous across geographies, long read technologies have significant room for penetration across clinical laboratories, biotechnology companies and academic research institutions worldwide. Continuous technological advancements will also support global expansion as new systems offer higher throughput and read lengths at reduced costs.
Key Takeaways
Key players operating in the long read sequencing market are Illumina Inc., Pacific Biosciences, Oxford Nanopore Technologies, PerkinElmer, Stratos Genomics, Phase Genomics, 10x Genomics, Genapys, and Bionano Genomics. These players offer novel platforms such as PacBio Sequel II and Oxford Nanopore Technologies MinION that provide long reads ranging from tens of kilobases to several megabytes, simplifying workflow and accelerating sequencing of complex genomes.
The growing demand for long range genomic and epigenomic information from researchers and clinicians is a key factor driving the long read sequencing market. While short read technologies provide valuable insights, they are limited for applications that require examination of complete gene structures, structural variants, and genomes with high repetitiveness.
Global adoption of long read sequencing techniques is further expected to rise steadily over the forecast period. Compared to short read platforms that are ubiquitous across geographies, long read technologies still have significant room for growth as new systems facilitate their integration into clinical laboratories, biotechnology companies and academic research institutions worldwide.
Market Key Trends
One of the key trends in the long read sequencing market is continuous technological innovation. Players are consistently developing novel platforms with improved throughput and read lengths while lowering costs. For instance, Pacific Biosciences recently launched the highly accurate Sequel II system featuring faster speeds and lengths exceeding 10X previous outputs. Similarly, Oxford Nanopore Technologies continually enhances its portable MinION platform and now offers read lengths up to 3 million bases. These advancements simplify workflows and expand the scope of long read applications.
Porter’s Analysis
Threat of new entrants: High capital requirements and need for reputation in the market act as deterrents for new entrants.
Bargaining power of buyers: Ongoing advances in long read sequencing technologies have increased options for buyers exerting pressure on prices.
Bargaining power of suppliers: Few dominant players have influence on prices in the market as switching costs are high for buyers.
Threat of new substitutes: No close substitutes currently exist for third generation long read sequencing technologies.
Competitive rivalry: Large companies invest heavily in R&D to continually upgrade sequencing platforms and chemistries intensifying competition.
Geographical Regions
North America currently holds the largest share of the global long read sequencing market in terms of value owing to presence of major players and availability of funding for genomic research activities in the region.
Asia Pacific is expected to witness the fastest growth during the forecast period driven by growing investments by governments and private organizations in genomic research programs especially in China and India.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
