The global long read sequencing market was estimated at USD 0.6 billion in 2023, is to grow from USD 1.02 billion in 2025 and is projected to be valued at USD 11.60 billion by 2034, expanding at a compound annual growth rate (CAGR) of 30.96% between 2024 and 2034.
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Market Overview
Long-read sequencing (LRS) is gaining momentum as a transformative technology in genomics, offering unparalleled accuracy and coverage in DNA sequencing. This technology has revolutionized genetic research and clinical diagnostics. The market is experiencing significant growth due to the rising need for comprehensive genomic data. Moreover, rising cancer and rare diseases research, increasing demand for personalized medicines, and the rising need for advanced sequencing techniques contribute to the growth of the long read sequencing market.
Long-read sequencing is emerging as an innovative and crucial tool in the realm of genomics research due to its better readability and resolution in DNA sequencing. This technology allows for the sequencing of much longer DNA fragments. It helps in detecting rare diseases. The rising investments in genome research can have a positive impact on the market. For instance, the National Institutes of Health (NIH) allocated approximately USD 5 billion for human genome research in fiscal year 2023. Furthermore, advancements in genome technology led to the development of real-time sequencing and portable LRS, which further fuel the market growth.
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Major Trends in the Long Read Sequencing Market
Rising Incidence of Genetic Diseases
The rising cases of genetic disorders worldwide signify the need for better and more efficient genomic tools. Traditional short-read sequencing often faces challenges in detecting genetic variants in repetitive regions of the genome, which are critical for diagnosing many rare diseases. However, LRS, in particular, has a higher depth and better interpretability to discover and ascertain structural disruptions that are not detectable by usual sequencing platforms. According to the report published by Lurie Children’s Hospital in 2023, about One in 10 Americans have a rare disease, and about half of them are children. Of the more than 6,800 rare diseases that have been identified, 72% are genetic. 70% of rare genetic disorders start in childhood. This creates the need for early and accurate diagnosis, contributing to market expansion.
Advancements in Sequencing Technologies
Advancements in sequencing technologies have improved the efficiency of LRS. The MinION device by Oxford Nanopore, known for its affordability and ease of use, has enabled field researchers to analyze DNA data in real-time. Additionally, the NIH highlights recent advancements in sequencing technology, focusing on faster and more accurate processes, reduced costs, and enhanced data analysis. These developments hold significant promise for unlocking new insights into genomics, improving understanding of diseases, and advancing personalized healthcare.
LRS has been further revolutionized by integrating sequencing workflows with artificial intelligence. With the help of AI, large sets of genomics data are processed at a very high speed, mutations are recognized, and gene functions are predicted with great precision.
Expanding Applications in Agriculture and Food Security
LRS is important for comprehensive understanding of the genomes of crops and livestock. It helps in identifying the complex traits such as disease resistance. It is also used to identify pathogens in food items, thereby ensuring food safety and preventing foodborne illnesses.
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Regional Insights
North America’s Sustain Dominance in the Market
North America dominated the long read sequencing market with the largest share by 51% in 2023. This is primarily due to the increase in investments in genomics research. The region also boasts well-established research and development facilities. Furthermore, the increased focus on precision medicine in the United States has increased the use of LRS technologies. The rapid expansion of the biotechnology and pharmaceutical companies and the rising demand for personalized therapeutics further contribute to the growth of the market in the region.
Asia Pacific: The Rising Force in the Long Read Sequencing Market
The market in Asia Pacific is projected to expand at the fastest rate in the coming years. This is due to the rising overall healthcare expenditures. Countries such as India, China, and Japan are investing heavily in biotechnology and genomic research to accelerate the development of gene therapy. Furthermore, the rising government funding in drug discovery and increasing demand for regenerative medicines are expected to bolster the regional market growth.
Market Segmentation
- On the basis of product, the consumables segment led the market in 2023. This is primarily due to the increased adoption of assay kits, flow cells, and reagents. These consumables offer a cost-effective alternative to entire sequencing kits. In addition, the availability of high-quality reagents augmented the segment. On the other hand, the services segment is anticipated to witness the fastest growth in the coming years due to the rising need for sequencing services in smaller research institutions that lack trained professionals and the necessary infrastructure.
- Based on technology, the nanopore sequencing segment led the long read sequencing market by holding considerable share in 2023. This is mainly due to its ability to perform real-time analysis. Moreover, this technology analyzes native DNA or RNA and delivers continuous data during sequencing.
- On the basis of workflow, the sequencing segment registered its dominance in the market in 2023. Sequencing is a crucial step in the LRS process, in which nucleotides are read on a sequencer at a specific read length and depth. The rise in demand for personalized treatments further bolstered the segment.
- Based on application, the whole genome sequencing segment dominated the market in 2023, as it allows researchers to discover the hidden biology of cancer. The segment growth is further attributed to the increasing drug discovery and investments in personalized medicines, which require novel genome assembly.
- On the basis of end-use, the academic & research institutes segment registered its dominance in the market in 2023. This is due to the rise in the number of R&D activities in research institutions.
Competitive Landscape
The long read sequencing market continue to evolve rapidly in the coming years as many market players are making efforts to bring innovations into market. Key players competing in the market include 10x Genomics, Agilant Technologies, Azenta Life Sciences, BGI Genomics, Element Biosciences, Illumina, MGI, Oxford Nanopore Technologies, Pacific Biosciences (PacBio), Qiagen, Quantapore, Inc., Thermo Fisher Scientific, and Universal Sequencing Technology Corporation.
BGI Genomics continues to focus on long read sequencing with its stereo-seq technology, which greatly improves biomedical research and scientific characterization of organs and tissues.
Recent Developments in the Long Read Sequencing Market
- In October 2024, Azenta, Inc. announced the launch of a long-read Whole Genome Sequencing (WGS) test for clinical applications. Azenta is the first commercial provider to receive regulatory approval for this test in the United States. Azenta's test utilizes PacBio's Revio sequencer to provide long, highly accurate HiFi sequencing reads, enabling coverage of regions that short reads cannot access.
- In October 2024, a team of researchers from BGI unveiled a new nanopore sequencing platform, CycloneSEQ, which is set to improve long-read sequencing across various genomic applications. The pre-print details of the device highlight its advanced motor and pore proteins, innovative chip design, and a novel basecalling algorithm, all of which contribute to higher accuracy and throughput in sequencing.
- In October 2024, Illumina, Inc., introduced MiSeq i100 Series of sequencing systems. These benchtop instruments — the MiSeq i100 and MiSeq i100 Plus Systems — offer unparalleled speed and simplicity, advancing next-generation sequencing (NGS) capabilities for laboratories. Designed to be user-friendly, even for those with limited NGS experience, these systems provide an affordable, comprehensive solution.
- In August 2024, Singapore’s National Precision Medicine (NPM) program launched a long-read sequencing project to enhance understanding of Asian genetic diversity. The program, known as Precision Health Research, Singapore (PRECISE), has partnered with both Oxford Nanopore Technologies (ONT) and PacBio to deliver sequencing services.
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Segments Covered in the Report
By Product
- Consumables
- Services
- Instruments
By Technology
- Nanopore Sequencing
- Single Molecule Real Time Sequencing
- Others
By Workflow
- Sequencing
- Data Analysis
- Pre-Sequencing
By Application
- Whole Genome Sequencing
- Metagenomics
- Targeted Sequencing
- RNA Sequencing
- Epigenetics
- Others
By End-Use
- Academic & Research Institutes
- Pharmaceutical & Biotechnology Companies
- Hospitals & Clinics
- Others
By Region
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa (MEA)
View in-depth TOC of Long Read Sequencing Market: https://www.towardshealthcare.com/table-of-content/long-read-sequencing-market-sizing
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