Summary

The long-read sequencing market is expected to reach USD 3,129 million in 2029 from USD 758 million in 2024, at a CAGR of 32.8% during the forecast period.
Growth in the long-read sequencing market is mainly driven by factors like increasing collaborations between academic institutions and industry players, decreased cost of sequencing, and continuous technological advancements in long-read sequencing. Moreover, the application of LRS like de novo genome assembly, structural variant detection, transcriptomics, and epigenetics is supporting the market growth. However, the initial cost concern to set up the equipment is impacting the growth of the long-read sequencing market.
“The consumables segment accounted for the largest share by offerings segment in the long-read sequencing market in 2023”
The long-read sequencing market is segmented into consumables, instruments, and services in 2023. The consumables is the segment with the largest share in offerings. The large share of consumables is due to their role in sample preparation, sequencing, and data analysis part of long-read sequencing. As the demand for sequencing increases, it supports the demand for the consumables segment, driving its growth in the market. Still, the instrument segment held the second-largest market share.
“The academic & research institutes segment accounted for the largest share by end-user segment in the long-read sequencing market in 2023”
The long-read sequencing market is segmented into academic & research institutes, pharmaceutical & biotechnologies companies, hospitals, clinics & diagnostics laboratories, and other end users. The academic & research institutes are the segment with the largest share in the end-user segment in 2023. The large share of academic & research institutes is due to the increased demand for whole genome sequencing products, and increased genomics research. However, the pharmaceutical & biotechnological companies accounted for the second largest share in the segment.
“The Asia Pacific region is growing at the highest CAGR in the long-read sequencing market from 2024 to 2029.”
The Asia Pacific is estimated to be the fastest-growing segment of the market owing to the large scale of population genomics projects, and the demand for precision medicines is supporting the growth. Further, the rising prevalence of chronic diseases is attributed to the aging population of countries such as Japan, and China. These is supporting the adoption of sequencing technologies in healthcare prognosis and treatment driving the market growth.

The primary interviews conducted for this report can be categorized as follows:

• By Respondent: Supply Side- 70% and Demand Side 30%
• By Designation: Managers - 45% CXOs and Director-level - 30%, and Executives - 25%,
• By Region: North America -40%, Europe -25%, Asia-Pacific -25%, Latin America -5%, and Middle East -5%.

List of Companies Profiled in the Report:
• Oxford Nanopore Technologies plc. (UK)
• PacBio (US)
• Illumina, Inc. (US)
• Agilent Technologies, Inc. (US)
• Thermo Fisher Scientific Inc. (US)
• 10X Genomics, Inc. (US)
• QIAGEN (Germany)
• BGI Group (China)
• Takara Bio Inc. (Japan)
• Azenta US, Inc. (US)
• Revvity, Inc. (US)
• Danaher Corporation (US)
• Novogene Co., Ltd. (China)
• New England Biolabs (US)
• BaseClear BV (Netherlands)
• Element Biosciences (US)
• Grandomics (China)
• CD Genomics (US)
• Sage Sciences, Inc. (US)
• EdenRoc Sciences (US)

Research Coverage:
This research report categorizes the long-read sequencing market by offerings (instruments, consumables, and services), technology (single-molecule real-time sequencing, nanopore sequencing, and synthetic long-read sequencing), workflow (sample preparation, sequencing, and data analysis), application (whole genome sequencing, metagenomics, epigenetics, targeted sequencing, whole exome sequencing, and other applications), usage (research and clinical), end user (academic & research institutes, pharmaceutical & biotechnology companies, hospitals, clinics & diagnostic Labs, and other end users), and by region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, challenges, opportunities, and restraints influencing the growth of the long-read sequencing market. A detailed analysis of the key industry players has been done to provide insights into their business overview, product & service portfolio, key strategies such as collaborations, expansions, agreements, and recent developments associated with the long-read sequencing market. Competitive analysis of top players and upcoming startups in the long-read sequencing market ecosystem is covered in this report.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall long-read sequencing market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Analysis of key drivers (Technological advancements in genome sequencing, Increased prevalence of complex and rare genetic disorders, and growing demand for high-quality throughput screening), restraints (High investments to develop long read sequencing technologies, Technical Limitations of existing technology), opportunities (Rising demand for long-read sequencing in clinical genomics, and expanding applications of long-read sequencing), and challenges (challenges associated with data preservation, analysis, and validation) influencing the growth of the market.
• Product Development/Innovation: Detailed insights on newly launched services of the long-read sequencing market
• Market Development: Comprehensive information about lucrative markets - the report analyses the market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the long-read sequencing market
• Competitive Assessment: Oxford Nanopore Technologies plc. (UK), PacBio (US), Illumina, Inc. (US), Agilent Technologies, Inc. (US), Thermo Fisher Scientific Inc. (US), 10X Genomics, Inc. (US), QIAGEN (Germany), BGI Group (China), Takara Bio Inc. (Japan), Azenta US, Inc. (US), Revvity, Inc. (US), Danaher Corporation (US), Novogene Co., Ltd. (China), New England Biolabs (US), BaseClear BV (Netherlands), Element Biosciences (US), Grandomics (China), CD Genomics (US), Sage Sciences, Inc. (US), and EdenRoc Sciences (US) among others in the market.

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Table of Contents

1 INTRODUCTION 31
1.1 STUDY OBJECTIVES 31
1.2 MARKET DEFINITION 31
1.2.1 INCLUSIONS & EXCLUSIONS 32
1.3 MARKET SCOPE 33
1.3.1 MARKETS COVERED 33
1.3.2 YEARS CONSIDERED 34
1.3.3 CURRENCY CONSIDERED 34
1.4 STAKEHOLDERS 34
2 RESEARCH METHODOLOGY 35
2.1 RESEARCH DATA 35
2.1.1 SECONDARY DATA 35
2.1.2 PRIMARY DATA 36
2.2 MARKET ESTIMATION METHODOLOGY 38
2.2.1 MARKET SIZE ESTIMATION 38
2.2.2 TOP-DOWN APPROACH 41
2.3 MARKET GROWTH RATE PROJECTIONS 42
2.4 DATA TRIANGULATION 44
2.5 RESEARCH ASSUMPTIONS 44
2.6 RESEARCH LIMITATIONS 45
2.7 RISK ANALYSIS 45
3 EXECUTIVE SUMMARY 46
4 PREMIUM INSIGHTS 51
4.1 LONG-READ SEQUENCING MARKET OVERVIEW 51
4.2 ASIA PACIFIC: LONG-READ SEQUENCING MARKET, BY OFFERING 52
4.3 LONG-READ SEQUENCING MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES 53
4.4 LONG-READ SEQUENCING MARKET SHARE, BY END USER, 2023 53
5 MARKET OVERVIEW 54
5.1 INTRODUCTION 54
5.2 MARKET DYNAMICS 54
5.2.1 DRIVERS 55
5.2.1.1 Emerging technological advancements 55
5.2.1.2 Increasing prevalence of complex and rare genetic disorders 56
5.2.1.3 Growing demand for high-throughput sequencing 56
5.2.1.4 Expanding applications of long-read sequencing 57
5.2.2 RESTRAINTS 57
5.2.2.1 High investment cost 57
5.2.2.2 Technical limitations of existing technologies 58
5.2.3 OPPORTUNITIES 58
5.2.3.1 Rising adoption in clinical genomics 58
5.2.4 CHALLENGES 58
5.2.4.1 Data preservation, analysis, and validation issues 58
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 59
5.4 REGULATORY LANDSCAPE 59
5.4.1 REGULATORY SCENARIO 59
5.4.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 60
5.5 VALUE CHAIN ANALYSIS 62
5.6 TECHNOLOGICAL ANALYSIS 64
5.6.1 KEY TECHNOLOGIES 64
5.6.1.1 Single-molecule real-time sequencing 64
5.6.1.2 Nanopore sequencing 65
5.6.1.3 Synthetic long-read sequencing 65
5.6.2 COMPLEMENTARY TECHNOLOGIES 66
5.6.2.1 Next-generation sequencing combined with artificial intelligence 66
5.6.2.2 Single-cell sequencing 66
5.6.2.3 Polymerase chain reaction 66
5.6.3 ADJACENT TECHNOLOGIES 67
5.6.3.1 Sample preparation technologies 67
5.6.3.2 Data analysis 67
5.7 PRICING ANALYSIS 68
5.7.1 AVERAGE SELLING PRICE OF KEY PLAYERS, BY OFFERING 68
5.7.2 AVERAGE SELLING PRICE OF KEY PLAYERS, BY INSTRUMENT 68
5.7.3 AVERAGE SELLING PRICE OF KEY PLAYERS, BY CONSUMABLE 69
5.7.4 AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE 70
5.7.5 AVERAGE SELLING PRICE, BY REGION 71
5.8 PATENT ANALYSIS 72
5.9 SUPPLY CHAIN ANALYSIS 74
5.10 ECOSYSTEM ANALYSIS 75
5.11 KEY CONFERENCES & EVENTS, 2024–2025 77
5.12 PORTER’S FIVE FORCES ANALYSIS 78
5.12.1 PORTER’S FIVE FORCES ANALYSIS 78
5.12.2 INTENSITY OF COMPETITIVE RIVALRY 79
5.12.3 BARGAINING POWER OF SUPPLIERS 79
5.12.4 BARGAINING POWER OF BUYERS 79
5.12.5 THREAT OF SUBSTITUTES 79
5.12.6 THREAT OF NEW ENTRANTS 79
5.13 KEY STAKEHOLDERS & BUYING CRITERIA 80
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 80
5.13.2 KEY BUYING CRITERIA, BY END USER 80
5.14 INVESTMENT & FUNDING SCENARIO 82
5.15 CASE STUDY ANALYSIS 82
5.15.1 ENHANCED DETECTION OF AMYOTROPHIC LATERAL SCLEROSIS USING PACBIO SINGLE-MOLECULE, REAL-TIME SEQUENCING 82
5.15.2 IMPROVED DIAGNOSIS OF RARE DISEASES WITH LONG-READ WHOLE-GENOME SEQUENCING 83
5.16 IMPACT OF AI ON LONG-READ SEQUENCING MARKET 83
6 LONG-READ SEQUENCING MARKET, BY OFFERING 84
6.1 INTRODUCTION 85
6.2 CONSUMABLES 85
6.2.1 LARGE NUMBER OF PLAYERS OPERATING IN CONSUMABLES SPACE TO PROPEL DEMAND 85
6.3 INSTRUMENTS 88
6.3.1 ADVANCEMENTS IN LONG-READ SEQUENCING TECHNOLOGY TO BOOST MARKET GROWTH 88
6.4 SERVICES 91
6.4.1 RISING DEMAND FOR COMPREHENSIVE GENOMIC DATA IN CLINICAL GENOMICS TO FAVOR MARKET GROWTH 91
7 LONG-READ SEQUENCING MARKET, BY TECHNOLOGY 95
7.1 INTRODUCTION 96
7.2 NANOPORE SEQUENCING 96
7.2.1 DIRECT DETECTION OF DNA MODIFICATIONS DURING SEQUENCING TO DRIVE MARKET GROWTH 96
7.3 SINGLE-MOLECULE REAL-TIME SEQUENCING 100
7.3.1 HIGHLY ACCURATE LONG READS BY REPEATEDLY SEQUENCING CIRCULARIZED DNA TO DRIVE DEMAND 100
7.4 SYNTHETIC LONG-READ SEQUENCING 103
7.4.1 GROWING DEMAND FOR DETAILED AND COMPREHENSIVE GENOMIC DATA IN AREAS SUCH AS CLINICAL GENOMICS TO BOOST MARKET 103
8 LONG-READ SEQUENCING MARKET, BY WORKFLOW 106
8.1 INTRODUCTION 107
8.2 SEQUENCING 107
8.2.1 DIRECT DETECTION OF DNA MODIFICATIONS DURING SEQUENCING TO DRIVE MARKET GROWTH 107
8.3 SAMPLE PREPARATION 111
8.3.1 DEVELOPMENT OF ADVANCED LIBRARY PREPARATION SOLUTIONS TO BOOST MARKET 111
 
8.4 DATA ANALYSIS 114
8.4.1 DEVELOPMENT OF ADVANCED BIOINFORMATICS SOLUTIONS TO FAVOR MARKET GROWTH 114
9 LONG-READ SEQUENCING MARKET, BY APPLICATION 118
9.1 INTRODUCTION 119
9.2 WHOLE-GENOME SEQUENCING 119
9.2.1 INCREASING USE OF WGS IN RARE DISEASE RESEARCH TO DRIVE MARKET GROWTH 119
9.3 TARGETED SEQUENCING 123
9.3.1 RISING DEMAND FOR LONG-READ SEQUENCING IN DISEASE DIAGNOSTICS TO SUPPORT MARKET GROWTH 123
9.4 METAGENOMICS 126
9.4.1 GROWING DEMAND FOR HIGH-RESOLUTION AND ACCURATE METAGENOMIC DATA TO FUEL GROWTH 126
9.5 EPIGENETICS 129
9.5.1 ADVANTAGES OF LRS IN EPIGENETICS STUDIES TO BOOST DEMAND 129
9.6 WHOLE-EXOME SEQUENCING 132
9.6.1 GROWING DEMAND FOR PRECISION GENETICS TO FAVOR MARKET GROWTH 132
9.7 OTHER APPLICATIONS 135
10 LONG-READ SEQUENCING MARKET, BY USAGE 138
10.1 INTRODUCTION 139
10.2 RESEARCH USAGE 139
10.2.1 RISING RESEARCH COLLABORATIONS TO BOOST MARKET GROWTH 139
10.3 CLINICAL USAGE 142
10.3.1 RISING PREVALENCE OF CANCER TO DRIVE MARKET GROWTH 142
11 LONG-READ SEQUENCING MARKET, BY END USER 146
11.1 INTRODUCTION 147
11.2 ACADEMIC & RESEARCH INSTITUTES 147
11.2.1 ACADEMIC & RESEARCH INSTITUTES TO DOMINATE MARKET DURING FORECAST PERIOD 147
11.3 PHARMACEUTICAL & BIOPHARMACEUTICAL COMPANIES 151
11.3.1 GROWING COLLABORATIONS BETWEEN LRS PLAYERS AND PHARMA-BIOTECH COMPANIES TO DRIVE GROWTH 151
11.4 HOSPITALS, CLINICS, AND DIAGNOSTIC LABS 154
11.4.1 RISING DEMAND FOR LONG-READ SEQUENCING IN HOSPITALS & CLINICS TO SUPPORT GROWTH 154
11.5 OTHER END USERS 157
 
12 LONG-READ SEQUENCING MARKET, BY REGION 160
12.1 INTRODUCTION 161
12.2 NORTH AMERICA 162
12.2.1 US 165
12.2.1.1 US to dominate North American long-read sequencing market during forecast period 165
12.2.2 CANADA 168
12.2.2.1 Increasing government initiatives in genomics research to aid market growth 168
12.3 EUROPE 171
12.3.1 GERMANY 173
12.3.1.1 Increased funding for genomic development and application to favor market growth 173
12.3.2 UK 176
12.3.2.1 Favorable NHS funding and increased number of patients with rare genetic diseases to spur market growth 176
12.3.3 FRANCE 179
12.3.3.1 Increasing government investment in genomics and proteomics research to augment market growth 179
12.3.4 ITALY 181
12.3.4.1 Developed research infrastructure and increased genomics investment to fuel market growth 181
12.3.5 SPAIN 184
12.3.5.1 Advancements in translational and personalized medicine sector to boost market growth 184
12.3.6 REST OF EUROPE 186
12.4 ASIA PACIFIC 189
12.4.1 CHINA 193
12.4.1.1 Favorable regulatory reforms and high patient population to aid market growth 193
12.4.2 JAPAN 196
12.4.2.1 Technological advancements and high government investments in biotechnology to augment market growth 196
12.4.3 INDIA 198
12.4.3.1 Favorable government initiatives for genomics research to drive market 198
12.4.4 SOUTH KOREA 201
12.4.4.1 Rising government investments in cancer treatments and precision medicine to support market growth 201
12.4.5 REST OF ASIA PACIFIC 203
 
12.5 LATIN AMERICA 206
12.5.1 BRAZIL 209
12.5.1.1 Increased public and private investments in sequencing technologies to spur market growth 209
12.5.2 MEXICO 211
12.5.2.1 Growing prevalence of chronic disease and increasing geriatric population to support market growth 211
12.5.3 ARGENTINA 213
12.5.3.1 Rising healthcare investments and increasing focus on public health services to propel market growth 213
12.5.4 REST OF LATIN AMERICA 216
12.6 MIDDLE EAST 218
12.6.1 GCC COUNTRIES 221
12.6.1.1 Saudi Arabia 223
12.6.1.1.1 High government healthcare expenditure and technological advancements to boost market growth 223
12.6.1.2 UAE 226
12.6.1.2.1 Increasing R&D investment and growing healthcare infrastructure to aid market growth 226
12.6.1.3 Rest of GCC Countries 229
12.6.2 REST OF MIDDLE EAST 231
12.7 AFRICA 234
12.7.1 GROWING FOCUS ON PRECISION MEDICINE TO PROPEL MARKET GROWTH 234
13 COMPETITIVE LANDSCAPE 237
13.1 INTRODUCTION 237
13.2 KEY PLAYER STRATEGY/RIGHT TO WIN 237
13.3 REVENUE ANALYSIS 239
13.4 MARKET SHARE ANALYSIS 240
13.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 243
13.5.1 STARS 243
13.5.2 EMERGING LEADERS 243
13.5.3 PERVASIVE PLAYERS 243
13.5.4 PARTICIPANTS 243
13.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 245
13.5.5.1 Company footprint 245
13.5.5.2 Region footprint 245
13.5.5.3 Offering footprint 246
13.5.5.4 Application footprint 247
13.5.5.5 Technology footprint 247
 
13.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 248
13.6.1 PROGRESSIVE COMPANIES 248
13.6.2 RESPONSIVE COMPANIES 248
13.6.3 DYNAMIC COMPANIES 248
13.6.4 STARTING BLOCKS 248
13.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 249
13.7 COMPANY VALUATION & FINANCIAL METRICS 250
13.8 BRAND/SERVICE COMPARISON 252
13.8.1 OXFORD NANOPORE TECHNOLOGIES PLC 252
13.8.2 PACBIO 253
13.8.3 ILLUMINA, INC. 253
13.8.4 AGILENT TECHNOLOGIES, INC. 253
13.8.5 THERMO FISHER SCIENTIFIC INC. 253
13.9 COMPETITIVE SCENARIO 253
13.9.1 DEALS 253
13.9.2 EXPANSIONS 254
14 COMPANY PROFILES 255
14.1 KEY PLAYERS 255
14.1.1 OXFORD NANOPORE TECHNOLOGIES PLC 255
14.1.1.1 Business overview 255
14.1.1.2 Products & services offered 256
14.1.1.3 Recent developments 257
14.1.1.3.1 Deals 257
14.1.1.4 MnM view 258
14.1.1.4.1 Right to win 258
14.1.1.4.2 Strategic choices 258
14.1.1.4.3 Weaknesses and competitive threats 258
14.1.2 PACBIO 259
14.1.2.1 Business overview 259
14.1.2.2 Products & services offered 260
14.1.2.3 Recent developments 262
14.1.2.3.1 Product & service launches 262
14.1.2.3.2 Deals 262
14.1.2.3.3 Expansions 263
14.1.2.3.4 Other developments 263
14.1.2.4 MnM view 264
14.1.2.4.1 Right to win 264
14.1.2.4.2 Strategic choices 264
14.1.2.4.3 Weaknesses and competitive threats 264
 
14.1.3 ILLUMINA, INC. 265
14.1.3.1 Business overview 265
14.1.3.2 Products & services offered 266
14.1.3.3 Recent developments 267
14.1.3.3.1 Product launches 267
14.1.3.4 MnM view 268
14.1.3.4.1 Key strengths 268
14.1.3.4.2 Strategic choices 268
14.1.3.4.3 Weaknesses and competitive threats 268
14.1.4 AGILENT TECHNOLOGIES, INC. 269
14.1.4.1 Business overview 269
14.1.4.2 Products & services offered 270
14.1.5 THERMO FISHER SCIENTIFIC INC. 272
14.1.5.1 Business overview 272
14.1.5.2 Products & services offered 273
14.1.6 10X GENOMICS, INC. 275
14.1.6.1 Business overview 275
14.1.6.2 Products & services offered 276
14.1.6.3 Recent developments 277
14.1.6.3.1 Product launches 277
14.1.7 QIAGEN 278
14.1.7.1 Business overview 278
14.1.7.2 Products & services offered 279
14.1.7.3 Recent developments 280
14.1.7.3.1 Expansions 280
14.1.8 BGI GROUP 281
14.1.8.1 Business overview 281
14.1.8.2 Products & services offered 281
14.1.9 AZENTA US, INC. 282
14.1.9.1 Business overview 282
14.1.9.2 Products & services offered 283
14.1.9.3 Recent developments 284
14.1.9.3.1 Expansions 284
14.1.10 TAKARA BIO INC. 285
14.1.10.1 Business overview 285
14.1.10.2 Products & services offered 286
14.1.10.3 Recent developments 287
14.1.10.3.1 Deals 287
14.1.11 NOVOGENE CO., LTD. 288
14.1.11.1 Business overview 288
14.1.11.2 Products & services offered 288
14.1.11.3 Recent developments 289
14.1.11.3.1 Other developments 289
14.1.12 REVVITY INC. 290
14.1.12.1 Business overview 290
14.1.12.2 Products & services offered 291
14.1.13 DANAHER CORPORATION 292
14.1.13.1 Business overview 292
14.1.13.2 Products & services offered 293
14.1.14 NEW ENGLAND BIOLABS 294
14.1.14.1 Business overview 294
14.1.14.2 Products & services offered 294
14.1.15 BASE CLEAR BV 295
14.1.15.1 Business overview 295
14.1.15.2 Products & services offered 295
14.2 OTHER PLAYERS 296
14.2.1 ELEMENT BIOSCIENCES 296
14.2.2 GRANDOMICS 296
14.2.3 CD GENOMICS 297
14.2.4 SAGE SCIENCES, INC. 298
14.2.5 EDENROC SCIENCES 298
15 APPENDIX 299
15.1 DISCUSSION GUIDE 299
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 303
15.3 CUSTOMIZATION OPTIONS 305
15.4 RELATED REPORTS 305
15.5 AUTHOR DETAILS 306