Long Read Sequencing Market Size, Share, Growth Analysis, By Product(Instruments, Consumables), By Technology(Single Molecule Real Time Sequencing, Nanopore Sequencing), By Workflow(Pre-sequencing, Sequencing), By Application(Whole Genome Sequencing, Targeted Sequencing), By End-use(Academic & Research Institutes, Hospitals & Clinics) - Industry Forecast 2024-2031

Long Read Sequencing Market size was valued at USD 347.62 Million in 2021 and is poised to grow from 455.1 million in 2022 to 3927.85 million by 2030, at a CAGR of 30.92% during the forecast period (2023-2030).

The primary operational players have used a number of measures to increase their market presence because this is a market that is expanding quickly. As an example, Illumina will introduce its powerful Illumina Complete Long Read Prep, Human assay for human whole-genome sequencing in March 2023. 'Illumina, Inc.', 'Thermo Fisher Scientific Inc.', 'Pacific Biosciences of California, Inc.', 'Oxford Nanopore Technologies Ltd.', 'BGI Genomics Co., Ltd.', 'Qiagen N.V.', 'Roche Holding AG', 'Agilent Technologies, Inc.', 'Bio-Rad Laboratories, Inc.', 'PerkinElmer, Inc.', 'F. Hoffmann-La Roche Ltd.', 'ZS Genetics, Inc.', 'GenapSys Inc.', '10x Genomics, Inc.', 'GENEWIZ', 'Paragon Genomics, Inc.', 'Nabsys, Inc.', 'Genia Technologies, Inc.', 'MGI Tech Co., Ltd.', 'Biomatters Ltd.'

Next-generation sequencing (NGS) technologies are widely adopted in research applications across various fields, including genomics, transcriptomics, and epigenomics. Long read sequencing provides additional insights into genome assembly, gene expression, and DNA modification patterns, driving its adoption in NGS-based research.

Increasing Adoption of Long Read Sequencing: Long read sequencing technologies are gaining significant traction in the market due to their ability to provide more comprehensive and accurate genomic information compared to short read sequencing. This trend is driven by the increasing demand for applications such as genome assembly, structural variant analysis, and transcriptomics.

North America held a 50.85% share of the market in 2022 as a result of the existence of significant players like Pacific Biosciences, the accessibility of a strong informatics network, and established laws for the approval and marketing of goods and services for genetic testing. Furthermore, it is projected that the growing academic and clinical use of genomic methods in the US will speed up market expansion there.