The global long read sequencing market size was valued at USD 780.0 million in 2018 and is expected to register a CAGR of 23.5% during the forecast period. The anticipated growth in revenue can be attributed to rapid advancements in third-generation long-read sequencing techniques to sequence longer read lengths to get a comprehensive view of the whole genome.
An increase in investments by key players toward R&D related to long-read sequencing technologies, coupled with rise in prevalence of genetic disorders, is expected to drive the market significantly. Long read technology is majorly used for the investigation of genetic disorders for which the disease loci are either strongly suspected or previously known. Long-read sequencing technologies have the potential to overcome specific limitations associated with next-generation sequencing-based investigations of clinical disorders. The use of longer reads that originate from a single DNA molecule provides a distinctive advantage to long read sequencing methods over their counterparts.
Real-time sequencing eliminates the need for batch sampling, thereby leading to a cost- efficient sequencing run. Thus, the technology finds application in the analysis of fresh-frozen or fresh samples as well as samples that are to be analyzed in time-sensitive settings. The abovementioned fact has enabled large-range aberration detection and precise analysis of complicated genomic regions based on the principle of long read sequencing.
Although the technique has substantial advantages over the preceding sequencing techniques, the presence of certain challenges has pronounced the need for research among original equipment manufacturers. These challenges include requirement of higher volumes of input sample that is to be analyzed and throughput as compared to short read sequence analysis protocols.
Long read sequencing offers various advantages over other sequencing methods, leading to an increasing adoption of the technique for various applications. For instance, methods such as short read sequencing are not efficient in determining structural variants, distinguishing highly homologous genomic regions, sequencing repetitive regions, and phasing of alleles. Such drawbacks of short reads increase the diagnostic gap in patients suffering with genetic disorders. On the other hand, long read sequencing can be potentially used to produce high-quality genome assemblies, and for the detection of clinically relevant genome components that cannot be observed using conventional methods.
Furthermore, potential applications of long read sequencing in clinical sequencing and analysis are anticipated to positively affect the market growth. For instance, the technique can easily detect complex structural features, and large variants that can be implicated in various clinical conditions and rare diseases. Long read sequencing also allows easy diagnosis of chromosomal rearrangements and gene fusion events that are commonly reported in several cancer types. In addition, the method facilitates same-day epigenomic or genomic analysis and is helpful in providing clinically relevant information for diagnosis.
Longer reads enhance the genotyping of the highly polymorphic human leukocyte antigen (HLA) region for examination of the HLA region before stem cell and organ transplant and to facilitate diagnosis of autoimmune disorders. The flexible depth sequencing and speed offered by long read sequencing makes it an attractive option for in situ diagnosis of agents that cause infectious diseases. This facilitates a logistical response for management and identification of the source and spread of a disease and can increase the demand for the method in the near future.
Third generation sequencing methods are relatively new as compared to the second-generation methods. Although, a large number of tools and algorithms have been developed to carry out variant discovery, base calling, read mapping, data handling, and de novo assembly. Development of advanced tools for data analysis and increasing adoption of cloud-based solutions for parallelization and distribution of input data and user codes are expected to contribute to market growth.
However, the cost of reading a genome accurately using long read sequencing is presently higher when compared to short read methods. For instance, the cost of characterization of whole human genome using PacBio systems is estimated to range from USD 3,000 to USD 6,000. On the contrary, the same analysis using short read methods costs less than USD 1,000. Such high cost of long read sequencing is expected to impact the adoption of the method even when the sequencing costs are falling in general.
Furthermore, for successful sequencing of long-read technology, the DNA sample must have limited breakage and desired quality. In addition, some of the long-read approaches need large input volumes when compared to short read methods. Therefore, the method is clinically challenging as most of the clinical samples do not fulfil the aforementioned criteria. This may limit the growth of long read sequencing market in the near future.
The single-molecule real-time (SMRT) sequencing segment occupied a major market share as it helps in achieving high consensus accuracy owing to low systematic bias and longer read lengths. Moreover, SMRT does not require amplification during sample preparation. Therefore, it is adopted by researchers to span repetitive genomic regions and assemble genomes. In addition, SMRT technology provides more uniformity, reduces systematic errors, enables real-time observation of DNA polymerase activity and detects kinetic changes during sequencing analysis. Moreover, the technology is flexible to be used in a range of small or large projects to access multiple sample types with varying output lengths.
Consumables accounted for the largest market share in 2018. Consumables are to be procured at regular intervals by end users to carry out genome sequencing as these get used in multiple sequence runs. For instance, a single SMRT Cell is utilized per sequencing reaction. The services segment is expected to exhibit the highest CAGR during the forecast period. Key players such as Oxford Nanopore offer certification programs for their service providers to ensure high-quality service is offered through their platforms.
Instruments such as MinION, GridION, PromethION, PacBio RS System, and Sequel Systems are used to sequence DNA or its fragments for a wide range of applications in human genomics, cancer research, epigenetics, and transcriptome analysis. Advancements in computational hardware and software in these instruments are expected to propel market growth.
The identification and fine mapping of structural variation segment accounted for a major share in the long read sequencing market in 2018 as long reads enhance the sensitivity of detection of Structural Variations (SV). A research study carried out in 2019 indicates that the efficiency of detection of structural variations can be enhanced by seven times by the application of a multi-platform approach comprising long read sequencing technology. Efficient analysis of structural variants, breakpoints, and the entire SV event gets enhanced by the use of longer reads. In addition, longer reads facilitate efficient haplotype distinction and thereby enhance the accuracy of the analysis.
Sequencing accounted for the largest share in 2018 and is expected to dominate the overall market throughout the forecast period. This is majorly because it is one of the most important aspects of the workflow. Long read technology allows library preparation and real-time sequence analysis without the aid of PCR amplification. This removes PCR-related bias from the genome and allows researchers to study the genetic material in its native state. This enables long read technologies to detect methylation and other base modifications directly.
Academic research held the largest market share in 2018. This is due to the presence of a large number of biotechnology institutes that explore molecular biology and genome sequencing methodologies. In addition, growing usage of sequence analysis methodologies in research, academic workshops, and on-site bioinformatics courses offered by universities are expected to boost the academic research segment.
On the other hand, demand for advanced technologies for clinical diagnostics is regarded as a high impact rendering driver of the clinical research segment. Potential clinical implications of long read sequencing technology in clinical settings is expected to boost segment growth. Market participants are engaged in addressing existing challenges associated with the implementation of technology in order to incorporate the technique in clinical practice with a simplified laboratory workflow.
Hospitals and clinics are expected to witness substantial adoption of the technology for the prognosis of chronic diseases in the coming years. Ongoing research projects for the application of this technique in different diseased conditions are expected to drive growth. For instance, in July 2017, Stanford Medicine implemented the method for the diagnosis of Carney complex, an autosomal dominant syndrome caused as a result of genetic mutation.
North America held the largest share accounting for over 49.63% of the market value in 2021 due to factors such as availability of a robust informatics network, well-established regulations for approval and distribution of genomic testing products & services, and presence of key players such as Pacific Biosciences in the region. Furthermore, increasing adoption of genomic procedures for various academic and clinical use in the U.S. is anticipated to boost the growth of the North America market. Asia Pacific is expected to grow at the fastest rate due to increasing penetration of leading players in emerging markets in the region, and growth in investments for development of advanced diagnostic methods.
The U.S. market is favored by the presence of several academic institutions and private organizations that offer long read sequencing services owing to benefits offered by longer reads. For instance, the Stanford Center for Genomics and Personalized Medicine, California offers PacBio sequencing services, while the University of Washington offers sequencing services on PacBio Sequel II platform. Furthermore, continuous efforts of key players to improve their product offerings are also contributing to the market growth. For instance, in January 2022, PacBio collaborated with Google for leveraging its machine learning tools for optimization of long read sequencing data analysis to improve its HiFi sequencing offering.
Japan, being one of the most technically advanced countries, has a booming genomics sector and is an emerging market in the Asia Pacific region. Owing to the rising demand for precision medicine and need for better understanding of genomics, the Japanese market for long-read sequencing is expected to witness a significant growth in the near future. Similarly, technological advancements in the country, driven by various strategic partnerships, are expected to fuel the market growth. For instance, in May 2022, Pacific Biosciences partnered with Japan-based iLAC and Robotic Biology Institute, for investigating sample preparation workflow automation, for Sequel II and IIe long read sequencing, with the help of a robotic laboratory technician.
Key players operating in the market include Oxford Nanopore Technologies Limited; Pacific Biosciences of California, Inc.; Quantapore, Inc.; Stratos Genomics, Inc.; MicrobesNG; Institute of Integrative Biology of the Cell (I2BC); BaseClear B.V.; Future Genomics Technologies B.V.; Garvan Institute of Medical Research; Genome Transcriptome Facility of Bordeaux; NextOmics; and Takara Bio, Inc. Oxford Nanopore and Pacific Biosciences are the most prominent players and occupy a major share in the market. Quantapore is currently developing a low-cost, single-molecule, long-read sequencing system. The company claims that its system would be capable of analyzing genomes under USD 100.
Base year for estimation
Actual estimates/Historical data
2014 - 2017
2019 - 2025
Revenue in USD Million & CAGR from 2019 to 2025
North America, Europe, Asia Pacific, Latin America, MEA
U.S., Canada, Germany, U.K. Japan, China, Brazil, South Africa
Revenue forecast, competitive landscape, growth factors, and trends
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis on latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global long read sequencing market report on the basis of technology, product, application, workflow, end-use, and region:
Technology Outlook (Revenue, USD Million, 2014 - 2025)
Single-Molecule Real-Time Sequencing (SMRT)
Product Outlook (Revenue, USD Million, 2014 - 2025)
Application Outlook (Revenue, USD Million, 2014 - 2025)
Identification & fine mapping of structural variation
Tandem Repeat Sequencing
Resolving allele phasing
Viral & Microbial Sequencing
Workflow Outlook (Revenue, USD Million, 2014 - 2025)
End-use Outlook (Revenue, USD Million, 2014 - 2025)
Hospitals & Clinics
Pharma & Biotech Entities
Regional Outlook (Revenue, USD Million, 2014 - 2025)
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