North America Long Read Sequencing Market is expected to reach US$ 2,254.97 Mn by 2028


PRESS RELEASE BY The Insight Partners 24 Aug 2021

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Single-Molecule Real-Time Sequencing (SMRT) Segment to Dominate North America Long Read Sequencing Market during 2021–2028

  According to The Insight Partners market research study on “North America Long Read Sequencing Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Product, Application, Workflow and End User” is expected to reach US$ 2,254.97 million by 2028 from US$ 570.24 million in 2021. The market is estimated to grow at a CAGR of 21.7% from 2021 to 2028. The report provides trends prevailing in the North America long read sequencing market along with the drivers and restraints pertaining to the market growth. Benefits of long read sequencing is the major factor driving the growth of the North America long read sequencing market. However, issues associated with the lack skilled professionals hinder the growth of North America long read sequencing market.

The North America long read sequencing market is segmented based on technology, product, application, workflow and end user, and country. Based on technology, the long read sequencing market is sub-segmented into single-molecule real-time sequencing (SMRT), nanopore sequencing, and loop genomics long-read sequencing. The single-molecule real-time sequencing (SMRT) segment dominated the market in 2020 and loop genomics long-read sequencing segment is expected to be the fastest growing during the forecast period. Based on product, the long read sequencing market is categorized into instruments, consumables, and services. The consumables segment dominated the market in 2020 and services segment is expected to be the fastest growing during the forecast period. Based on application, the market is segmented into identification and fine mapping of structural variation, tandem repeat sequencing, pseudogene discrimination, resolving allele phasing, reproductive genomics, cancer, viral and microbial sequencing. The identification and fine mapping of structural variation segment dominated the market in 2020 and cancer segment is expected to be the fastest growing during the forecast period. Based on workflow, the market is segmented pre-sequencing, sequencing, and data analysis. The sequencing segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on end user, the long read sequencing market is sub-segmented into academic research institutes, hospitals and clinics, and pharma and biotechnology companies. The academic research institutes, hospitals and clinics segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on country, the market is segmented into US, Canada, and Mexico.

In the North American region, the US was profoundly affected by the outbreak of the COVID-19 pandemic. The country has marked the highest number of positive patients and still facing the second wave of COVID-19. Across the various healthcare sectors, the effect of a pandemic can be felt, resulting in various changes in the health care industry. Scientists are collaborating to generate and share genomic sequence data information and apply it to disease diagnosis and control efforts. The US is increasing its ability to track coronavirus mutations with genomic sequencing as experts warned that new variants drive up number of cases and hospitalizations. For instance, the US ranked 43rd in genome sequencing project by sequencing 3% of the sample, according to the GISAID Initiative, a global genome sequencing database project. The sequencing of the genome can aid in the fight against Covid-19 and the newly emerging variants. Moreover, in April 2020, genome Canada launched the Canadian COVID Genomics Network, an initiative backed with USD 40 million funding. The initiative includes a partnership between Genome Canada and six regional Genome centers, genome sequencing centers through CGEn, national and regional public health labs, universities, hospitals, and the private sector, for scaling up existing genome-based COVID-19 research in Canada and globally. Similarly, In April 2020, the Pacific Biosciences of California, Inc., and Labcorp were collaborated to develop a production-scale assay from the positive patient samples to sequencing the complete genome of thousands of SARS-CoV-2 viruses using the Sequel II system. All such developments will add to the future demand for the North America region's long read sequencing market.

Bionano Genomics; F. HOFFMANN-LA ROCHE LTD.; Illumina, Inc.; Oxford Nanopore Technologies; Pacific Biosciences of California, Inc.; PerkinElmer, Inc.; and Quantapore, Inc. among the leading companies in the North America long read sequencing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, The Oxford Nanopore Ultra-Long DNA Sequencing Kit, when used in conjunction with Circulomics Nanobind Kits, is designed to maximise the number of ultra-long reads and has allowed the continuous sequencing of single DNA fragments of up to 3+ Mb externally and 4+ Mb internally. Using this method, users can achieve more than 100 reads over 1 Mb per PromethION flow cell run.

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