Long Read Sequencing Market Size
Market Outlook:
Base Year Value (2023)
USD 578.63 Million
CAGR (2024-2032)
31%
Forecast Year Value (2032)
USD 6574.2 Million
Historical Data Period
2019-2023
Largest Region
North America
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:The Long Read Sequencing Market is expected to witness significant growth due to the increasing demand for more accurate and in-depth genomic analysis. Additionally, the rising prevalence of chronic diseases and genetic disorders is driving the adoption of long read sequencing technologies for personalized medicine and precision oncology. Furthermore, advancements in sequencing technologies, such as improvements in read length and accuracy, are increasing the efficiency and reliability of long read sequencing, further fueling market growth.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Product, Technology, Workflow, Application, End-Use |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | Pacific Biosciences of California,, Oxford Nanopore Technologies Limited, Quantapore,, Element Biosciences, BGI Genomics, Eurofins Genomics, Stratos Genomics,, MicrobesNG, NextOmics, New England Biolabs |
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The high cost associated with long read sequencing technologies is a major restraint for market growth. The initial capital investment required for purchasing sequencing equipment and maintaining the infrastructure can be a barrier for many research institutions and healthcare facilities. Additionally, the complexity of data analysis and interpretation in long read sequencing poses a challenge for users, leading to a need for specialized training and expertise in bioinformatics.
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