Long Red Sequencing Market Size, Unveiling the Potential Scope for 2023

Long Red Sequencing Market

According to the report published by Zion Market Research, the global Long Red Sequencing Market size was valued at USD 490.87 Million in 2022 and is predicted to reach USD 8,215 Million by the end of 2030. The market is expected to grow with a CAGR of 42.22% during the forecast period. The report analyzes the global Long Red Sequencing Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Long Red Sequencing Market industry.

Global Long Red Sequencing Market: Overview

Long-read sequencing is referred to as the DNA sequencing method. It is also called third-generation sequencing that offers several advantages over the other next-generation sequencing methodologies. It provides a more accurate DNA sequence having the same section of DNA repeated within the genomes. This method of direct sequencing permits the generation of comparatively longer reads than the ones from short-read sequencing. The long read sequencing method offers a broad range of applications for both the non-models and model organisms in genomics as it is cost-effective and precise.

Global Long Red Sequencing Market: Growth Factors

The ongoing developments and innovations in the third generation techniques for long-read sequencing in order to sequence longer read lengths and facilitate a comprehensive view of the complete genome is one of the major factors driving the growth of the global long red sequencing market. The growing prevalence of genetic disorders all across the globe will also fuel the demand for long-read sequencing vigorously during the forecast period. The long read sequencing technique is widely used for the examination of genetic disorders where the disease loci are previously known or strongly suspected. Such sequencing technology has the capability to overcome the underlying limitations of next-generation sequencing.

The utilization of long thread which is produced from a single DNA molecule facilitates distinctive benefits to the long read sequencing techniques over the other counterparts. The growth in investments by prominent market players to boost the research and development activities in the field of long-read sequencing technology further propels the growth of the global long red sequencing market. The real-time sequencing feature eliminated the requirement for batch sampling which has significantly lowered the cost of the sequencing run. Hence, the technology is highly utilized in the analysis of fresh samples and the samples that are yet to be analyzed in a time-sensitive environment.

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Global Long Red Sequencing Market: Segmentation

The global long red sequencing market can be segmented into end-users, workflows, applications, products, technologies, and regions.

By end-user, the market can be segmented into pharma & biotech entities, hospitals & clinics, clinical research, academic research, and others. The academic research segment accounts for the largest share in the global long red sequencing market owing to the presence of a large pool of biotechnology institutes that explore genome sequencing and molecular biology methodologies. Moreover, the increasing utilization of sequence analysis techniques in academic workshops research and onsite bioinformatics courses provided by various universities is also boosting the growth of the segment during the forecast period.

By workflows, the market can be segmented into data analysis, sequencing, and re-sequencing. The sequencing segment accounts for the largest share in the global long red sequencing market.

By application, the market can be segmented into viral & microbial sequencing, cancer, reproductive genomics, resolving allele phasing, pseudogene discrimination, tandem repeats sequencing, and identification & file mapping of structural variation. The identification & file mapping of the structural variation segment dominates the global long red sequencing market.

By product, the market can be segmented into services, consumables, and instruments.

By technology, the market can be segmented into nanopore sequencing and single-molecule real-time sequencing. The consumable segment holds hegemony over others.

Global Long Red Sequencing Market: Regional analysis

North America accounts for the largest share in the global long red sequencing market due to the presence of prominent market players in the region. Moreover, the well-regulated framework for the utilization and approval of genomic tests by the government authorities in the region further boosts the growth of the regional market. The growing number of genomic procedures for clinical and academic utilization in the region will also fuel the growth of the regional market during the forecast period.

Asia Pacific is expected to witness huge growth during the forecast period due to the growing investments and technological advancements in the region.