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The global long read sequencing market exhibited strong growth during 2015-2020. Long read sequencing (LRS) improves de novo assembly, mapping certainty, transcript isoform identification, and detection of structural variants. It also eliminates amplification bias while preserving base modifications. On account of these capabilities, LRS finds a broad range of applications in genomics for both model and non-model organisms. Moreover, compared to the next-generation sequencing (NGS) approach, LRS technology produces high-quality genome assemblies, captures clinically relevant genomic elements, and offers improvements in the characterization of genetic variation and regions.
The rising number of individuals suffering from genetic disorders, along with the increasing acceptance of modern approaches for medical diagnostics, represents one of the key factors bolstering the market growth. The escalating demand for LRS technology can also be attributed to its portability and real-time speed. It is also used to produce an accurate reference map of the centromere of the chromosomes. Apart from this, various biotech companies are developing innovative technologies that combine a new library prep method and genome analysis tools. In line with this, several studies indicate that LRS technology plays a crucial role in discovering novel pathogenic mutations in human diseases with unknown genetic causes. This presents numerous opportunities to researchers for using the technology in whole-genome sequencing (WGS) and enabling advancements in medical genetics. Furthermore, the rising utilization of sequence analysis methodologies in medical institutes for academic purposes, in confluence with the increasing investments in research and development (R&D) activities, is anticipated to drive the market growth further. Looking forward, IMARC Group expects the global long read sequencing market to grow at a CAGR of around 22% during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the global long read sequencing market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, technology, product, application and end use.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being BaseClear B.V., Future Genomics Technologies B.V., Genexa AG, MicrobesNG, Oxford Nanopore Technologies Limited, Pacific Biosciences of California Inc., Promega Corporation, Quantapore Inc., Roche Sequencing (F. Hoffmann-La Roche AG), Takara Bio Inc. and Thermo Fisher Scientific Inc.
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