Long Read Sequencing Market Size, Share & Trends Analysis Report By Technology (SMRT Sequencing), By Product, By Application, By Workflow, By End Use, Region And Segment Forecasts, 2022 - 2030

Report Overview

The global long read sequencing market size was valued at USD 1,324.9 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 14.74% from 2022 to 2030. The major factors driving the market growth include the rising prevalence of genetic diseases, such as cancers as well as chromosomal disorders, the rising popularity of personalized medicine, and rising technological advancements resulting in the emergence of newer technologies, such as third-generation sequencing. Additionally, long read sequencing can potentially be used to produce high-quality genome assemblies, and for the detection of clinically relevant genome components that cannot be observed using conventional methods. The market is anticipated to experience significant growth owing to various advantages offered by these technologies. These advantages led to increased adoption of SMRT and Nanopore techniques for various applications. The long read technique is primarily utilized to investigate genetic disorders where the disease locus is either well-known or strongly suspected.

Long read sequencing methods have the ability to get around some of the drawbacks that come with clinical disease investigations based on next-generation sequencing. LSR techniques provide a particular advantage over alternatives due to the utilization of longer reads that come from a single DNA molecule. Real-time sequencing reduces the requirement for batch sampling, resulting in a sequencing run that is less expensive. As a result, the method is useful for the examination of fresh-frozen or fresh samples as well as those that must be examined quickly.

The aforementioned fact has made it possible to accurately analyze complex genomic areas and find large-range aberrations using the long read sequencing method. Since LRS has many advantages over conventional sequencing techniques, it is increasingly being used in a variety of applications. Examples include the inability of techniques like short read sequencing to identify structural variants, discriminate highly homologous genomic areas, sequence repetitive sections, or phase alleles. Such short read limitations widen the diagnostic gap in patients with genetic diseases.

LRS, on the other hand, has the potential to be utilized to create high-quality genome assemblies and to find therapeutically significant genomic components that are difficult to see with traditional techniques. Additionally, it is projected that advancements in long read sequencing will have favorable effects on the market growth in clinical sequencing and analysis. For instance, the method can quickly identify huge variations and complicated structural features that may be related to a variety of clinical problems and rare diseases. Additionally, chromosomal rearrangements and gene fusion events, which are often observed in a number of cancer types, can be easily diagnosed by long read sequencing.

Increasing investment flow by key players in the production of advanced & effective equipment is anticipated to spur market growth throughout the forecasted timeframe. For instance, in January 2022, Illumina Inc. signed a multi-year agreement with Nashville Biosciences for the development of medicines based on large-scale genomic technologies. The company has also collaborated with the German pharmaceutical firm Boehringer Ingelheim to develop companion diagnostics. Such initiatives by companies are expected to foster the market growth in the coming years.

Technology Insights

The single-molecule real-time (SMRT) sequencing segment is anticipated to grow at a significant rate of 13.66% from 2022-2030. This can be attributed to its longer read lengths and low systematic bias leading to achieving high consensus accuracy. Additionally, during sample preparation for SMRT, amplification is not necessary, thereby increasing its adoption in the research community.

On the other hand, nanopore sequencing technology is in its nascent stage. The technology is expected to grow considerably in the future and is expected to revolutionize the long-read sequencing market. Currently, Oxford Nanopore develops array chips that comprise protein nanopores that are fixed onto an electrically resistant polymer. This arrangement allows parallel runs of multiple experiments onto a single chip. The company is currently taking several efforts to enhance the utility of nanopore technology in the future.

Product Insights

In 2021, consumables held the highest market share of 48.21%. End users that perform genome sequencing must purchase consumables on a frequent basis because they are consumed over several sequence runs. For instance, each sequencing reaction uses a single SMRT Cell. The forecast period is expected to have the highest CAGR in the services segment. To ensure that high-quality service is provided through their platforms, major firms like Oxford Nanopore offer certification programs for their service providers.

DNA or its fragments are sequenced using devices like PromethION, MinION, PacBio RS System, GridION, and Sequel Systems for a variety of applications in cancer research, human genomics, epigenetics, and transcriptome analysis. These instruments' improved computational equipment and software are anticipated to drive the market's expansion.

Application Insights

The cancer segment dominated the long-read sequencing market in 2021. SMRT sequencing has been found to be useful in cancer research as it provides access to a complete size spectrum of genetic variation in whole genomes, transcripts, and genes. The exceptionally long reads of SMRT sequencing allow researchers to discover the hidden biology of cancer samples by resolving isoform diversity, alternative splice sites, gene fusions, and retained introns.

Similarly, advancements in the field of nanopore sequencing have revealed novel areas in the field of cancer biology. In April 2019, researchers from Oxford University collaborated with Ontario Institute for Cancer Research to use nanopore sequencing to understand the mechanisms and patterns of DNA replication. The initiative was undertaken to understand the mechanism of DNA replication in cancerous cells. Researchers from both institutions co-developed D-NAscent, a computational tool and a sophisticated laboratory protocol, which allows the study and detection of DNA replication in cancerous cells.

Moreover, SMRT sequencing has been used to investigate HIV, hepatitis C virus, hepatitis B virus, influenza virus, and other disease-causing microbes. The technology has been observed to be useful in not only determining genomic sequences of infecting viruses but also in monitoring any developing mutation due to drug treatment. The amplicon sequencing reads generated by SMRT sequencing average up to 100 kb in length.

Workflow Insights

The sequencing segment accounted for the largest revenue generation of USD 712.2 million in 2021. This trend is anticipated to continue throughout the projection period. This is mostly due to the fact that it is one of the most crucial components of the workflow. Without using PCR amplification, long read technique enables library creation and real-time sequence analysis. This permits scientists to investigate the genetic material in its natural state and eliminates PCR-related bias from the genome. This makes it possible for long read technologies to directly identify methylation and other base changes.

A high number of algorithms and tools have been developed to carry out base calling, variant discovery, data handling, de novo assembly, and read mapping. Advancements in data analysis tools are expected to boost the market growth throughout the forecast period. Key players are expanding their market presence with the help of the development of novel tools and products. For instance, Pacific Biosciences launched Sequel Systems v9.0 Software in July 2020. The SMRT Analysis Software provides flexible command-line options, easy-to-use graphical user interface, and an extensive set of APIs.

End-use Insights

In 2021, academic research captured a significant market share. This is owing to the presence of numerous biotechnology research centers that study molecular biology and genome sequencing techniques. Along with this, academic workshops, on-site bioinformatics courses provided by universities, and the rising use of sequence analysis approaches in research are anticipated to strengthen the academic research sector.

On the other hand, the clinical research market is likely to be driven by the demand for cutting-edge technology for clinical diagnostics. Long read sequencing technology's potential clinical applications in clinical settings are anticipated to drive category growth. In order to deploy the approach in clinical practice with a streamlined laboratory workflow, market participants are actively working to address the current problems connected with the implementation of technology.

In the upcoming years, it is anticipated that technology for chronic disease prognosis would be widely adopted in hospitals and clinics. Growth is anticipated to be fueled by ongoing studies into the use of this technology in various medical states.

Regional Insights

North America dominated the regional market with a share of 49.95% in 2021due to the presence of major players such as Pacific Biosciences in the area, the availability of a strong informatics network, and well-established rules for the approval and marketing of genomic testing products and services. In addition, it is projected that the growing academic and clinical use of genomic techniques in the U.S. will accelerate the expansion of the North American market.

Due to rising investments in the development of cutting-edge diagnostic techniques as well as increased penetration of major players in the region's growing markets, Asia Pacific is predicted to grow at the quickest rate. Japan is an emerging market in the Asia Pacific with a booming genomics industry. The Japanese market for long-read sequencing is anticipated to experience significant expansion in the near future as a result of the growing demand for precision medicine and the need for a better knowledge of genetics.

Similar to this, technical developments in the nation, fueled by numerous strategic alliances, are anticipated to propel market expansion. For example, in May 2022, Pacific Biosciences collaborated with the Japanese organizations iLAC and Robotic Biology Institute to investigate the automation of the sample preparation workflow for Sequel II and IIe long read sequencing with the use of a robotic laboratory technician.

Key Companies & Market Share Insights

As this is a rapidly growing marketspace, various strategies have been implemented by the key operating players to strengthen their presence in the market. For instance, in January 2022, Google and Pacific Biosciences of California signed a collaboration agreement to optimize long read sequencing data analysis using machine learning tools. Some of the key players in the global long read sequencing market include:

• Quantapore, Inc.

• Pacific Biosciences of California, Inc.

• Oxford Nanopore Technologies Limited

• Institute of Integrative Biology of the Cell (I2BC)

• Stratos Genomics, Inc.

• MicrobesNG

• NextOmics

• Future Genomics Technologies B.V.

• Genome Transcriptome Facility of Bordeaux

• BaseClear B.V.

• Takara Bio, Inc

• Garvan Institute of Medical Research

Long Read Sequencing Market Report Scope

Global Long Read Sequencing Market Segmentation

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For the purpose of this report, Grand View Research has segmented the long read sequencing market on the basis of product, technology, workflow, application, end-use, and region. 

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Single-Molecule Real-Time Sequencing (SMRT)

  • Nanopore Sequencing

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Instruments

  • Consumables

  • Services

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Identification & fine mapping of structural variation

  • Tandem Repeat Sequencing

  • Pseudogene discrimination

  • Resolving allele phasing

  • Reproductive genomics

  • Cancer

  • Viral & Microbial Sequencing

  • Others

• Workflow Outlook (Revenue, USD Million, 2018 - 2030)

  • Pre-sequencing

  • Sequencing

  • Data Analysis

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Academic Research

  • Clinical Research

  • Hospitals & Clinics

  • Pharma & Biotech Entities

  • Other

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia