The long read sequencing market size was estimated at USD 973.6 million in 2019 and is expected to grow with a CAGR of 24% during the forecast period, 2020–2029.
Long read sequencing technique has overcome the earlier limitations in the accuracy and performance of DNA sequencing techniques and is extensively used in the domain of genomics.
The technology operates by reading the nucleotide sequences at the single-molecule scale, compared to current methods that involve breaking the long DNA strands into small segments and then implying nucleotide sequences by amplification and synthesis. Some of the short-read sequencing techniques available in the market include Illumina’s NovaSeq, HiSeq, NextSeq, and MiSeq instruments, BGI’s MGISEQ and BGISEQ models, and Thermo Fisher’s Ion Torrent sequencers can all read up to 600 bases while long-read sequencing technologies routinely read more than 10 kb nucleotides.
Short-read sequencing (Second-Generation Sequencing), often referred to as Next-Generation Sequencing (NGS), dominates the market landscape of DNA sequencing since it helps to reduce the cost of DNA sequencing by allowing the parallel methods to generate large numbers of readings across the genome with extremely high extent.
Short-read sequencing (Second-generation sequencing), often referred to as Next-generation sequencing (NGS), dominates the DNA sequencing market landscape as it aids in reducing the DNA costs by allowing the parallel method capable of generating large numbers of readings across the genome with extremely high coverage. Long read sequencing reactions are often performed without the use of PCR amplification and involve two methods, such as the sequencing of single-molecule in real-time (SMRT) and nanopore sequencing. Increasing application in clinical sequencing and analysis and rapid advancement in third-generation long-read sequencing techniques provide an impetus to the market growth.
Rising Application of Long Read DNA Sequencing Technology to Screen Hereditary and Metabolic Disorders Drive the Market Growth
The increasing prevalence of genetic diseases is subsequently surging the R&D expenditure in genomics across the globe. As per the World Health Organization (WHO), sickle cell anemia, a severe genetic disorder, affects around 72,000 newborn babies. In the U.K., hemophilia, a genetic bleeding disorder, affected over 6,000 people every year. In 2015, oncology genetic testing was one of the highest revenue-generating applications on account of the rapidly rising prevalence of cancer.
Increasing awareness about prenatal diagnosis, the growing popularity of gene therapy and medical genetics, increasing penetration of newborn screening, and rising attempt to improve patient's quality of life provide an impetus to the market growth. In November 2019, the Division of Consolidated Laboratory Services (DCLS) of the Virginia Department of General Healthcare Services screened nearly 7,868 newborns with nearly 31 hereditary and metabolic disorders using long-read DNA sequencing technology.
Burgeoning Investments in R&D Activities Involving Human Genome Sequencing Drives the Market Growth
The Human Genome Project was successfully completed in 2003 on account of surging investments in R&D activities involving human genome sequencing across the globe. In 2018, the U.K. government launched the ‘Genomics England’ project with funding of around USD 250 million to enable researchers to understand the genomics of rare and undiagnosed genetic diseases. As reported by Battelle, in Asia, R&D investment in the field of genome sequencing increased by 7% from 2009 to 2014. Additionally, the prominent players are performing extensive research to develop new and innovative long read sequencing techniques in order to gain a competitive edge. However, the high cost of long-read sequencing process and technical challenges associated with the process hamper the market growth.
Long Read Sequencing Market: Segmentation
Umpteen Advantages of Single-Molecule Real-Time Sequencing Drives the Segment Growth
Based on technology, the long-read sequencing market is segmented into single-molecule real-time sequencing (SMRT) and Nanopore Sequencing. The single-molecule real-time (SMRT) sequencing segment holds the highest market share as it helps in achieving high accuracy due to low systematic bias and longer read lengths. SMRT eliminates the need for amplification during sample preparation, which is why it is widely used by researchers to scan repetitive genomic regions and assemble genomes.
The technology offers uniformity, reduces systematic errors, enables real-time observation of DNA polymerase activity, and detects kinetic changes during sequencing analysis. Additionally, the technology is flexible to be used in small and large projects to access multiple sample types with varying output lengths. Recently, Pacific Biosciences (PacBio) commercialized SMRT sequencing technology, which can read up to 50 billion bases from a single SMRT Cell.
Rising Product Launches by Prominent Players to Drive the Services Segment Growth
By-products, the market is segmented into instruments, consumables, and services. The services segment is expected to grow with the highest CAGR during the forecast period on account of rising product launches by prominent players. Instruments such as MinION, GridION, PromethION, PacBio RS System, and Sequel Systems are widely used for DNA sequencing across human genomics, cancer research, epigenetics, and transcriptome analysis applications, further driving the segment growth. On the other hand, rapid advancements in computational hardware and software are projected to drive the instrument segment growth. In 2018, the consumables segment held the largest market share.
Impact of COVID-19
Globally, scientists are actively working to control the prevalence of the COVID-19 by developing therapies and vaccines to obstruct the transmission of the coronavirus, further rising the demand for high resolution of genetic information. In the U.S., microbiologists and geneticists have identified the SARS-CoV2 genome and have about 30,000 base pairs. The genome somewhat looks like a long string with 30,000 places where one of each occupies one of four nucleotides. The long read sequencing technology, using the long string and its unique combination of nucleotides, can easily identify the virus. Moreover, to develop an effective therapeutic or vaccine, scientists will need to understand the SARS-CoV-2 within a host, further driving the market growth.
The U.S. to Dominate North America’s Long Read Sequencing Market
North America leads the long read sequencing market as the region possesses a robust presence of leading market players, such as Pacific Biosciences, and reputable informatics network. In the U.S., a rising number of genomic procedures for academic and clinical use drive market growth. The U.S. is projected to dominate the regional long read sequencing market as the country is backed by the well-developed research-based infrastructure and financial incentives provided by the government for genetic research.
Government Initiatives to Drive Asia-Pacific’s Long Read Sequencing Market
Asia-Pacific is projected to witness the fastest growth in the long read sequencing market. A burgeoning number of leading players in India, Japan, and China, and rising investments for the development of advanced diagnostic methods for genetic diseases drive the regional market growth. Governments in the region are actively working to boost their genomics industry, further driving the market growth. Similarly, the prominent players in the region are adopting aggressive marketing strategies to expand their operations in other regional markets and increase the customer base. For instance, BGI, a Chinese genomic sequencing company, acquired Complete Genomics, an American company offering DNA sequencing platform for human genome analysis. In December 2017, the U.K. and China announced a joint initiative to advance science and innovation in gene sequencing.
Long Read Sequencing Market Segmentation
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