The long read sequencing market in North America is expected to grow from US$ 570.24 million in 2021 to US$ 2,254.97 million by 2028; it is estimated to grow at a CAGR of 21.7% from 2021 to 2028. Five years ago, genomic sequencing was restricted to the research environment. At present, it is increasingly used in clinical practice, and over the next five years, genomic data from over 60 million patients are expected to be generated within healthcare. Genomic sequencing is rapidly transitioning into clinical practice, and implementation into healthcare systems has been supported by substantial government investment, totaling over US$ 4 billion in at least 14 countries. These national genomic-medicine initiatives drive transformative change under real-life conditions while addressing barriers to implementation and gathering evidence for broader adoption, thereby driving the market growth.
The List of Companies
- Bionano Genomics
- F. HOFFMANN-LA ROCHE LTD.
- Illumina, Inc.
- Oxford Nanopore Technologies
- Pacific Biosciences of California, Inc.
- PerkinElmer, Inc.
- Quantapore, Inc.
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By Technology
- Single-Molecule Real-Time Sequencing
- Nanopore Sequencing
- Loop Genomics Long Read Sequencing
By Product
- Instruments
- Consumables
- Services
By Application
- Identification and fine mapping of structural variation
- Tandem Repeat Sequencing
- Pseudogene discrimination
- Resolving allele phasing
- Reproductive genomics
- Cancer
- Viral and Microbial Sequencing
By Workflow
- Pre-sequencing
- Sequencing
- Data Analysis
By End User
- Academic Research Institutes
- Hospitals and Clinics
- Pharma and Biotechnology Companies
North America Dominates Long Read Sequencing Market, Driven by Innovation and Pandemic Response
North America leads the global long read sequencing market, with the United States holding the largest share, followed by Canada. This dominance is fueled by robust demand from biopharmaceutical and biotechnology companies, extensive academic and research institute R&D, and substantial government and private funding for genomic research and precision medicine initiatives. The inherent advantages of long read sequencing are a primary driver of market expansion.
The COVID-19 pandemic significantly accelerated the adoption of long read sequencing in North America. The US, heavily impacted by the virus, prioritized genomic sequencing to track mutations and combat emerging variants. While initially lagging in global sequencing efforts, the US is rapidly increasing its capacity. Collaborative efforts, such as the partnership between Pacific Biosciences and Labcorp to sequence thousands of SARS-CoV-2 genomes, are crucial. In Canada, Genome Canada’s $40 million Canadian COVID Genomics Network initiative exemplifies the region’s commitment to leveraging genomics for pandemic response. These initiatives have not only addressed immediate public health needs but also established a foundation for sustained growth in the long read sequencing market.
Strategic Implications and Future Outlook
Understanding the North American long read sequencing market requires a data-driven approach that considers current trends, key players, and regional nuances. Strategic insights enable stakeholders—investors, manufacturers, and researchers—to:
- Identify Untapped Segments: Pinpoint emerging applications and niche markets to develop specialized solutions.
- Develop Unique Value Propositions: Differentiate themselves by offering innovative technologies and services.
- Anticipate Market Shifts: Leverage data analytics to predict future trends and adapt strategies proactively.
- Make Informed Decisions: Utilize comprehensive analysis to drive profitability and achieve long-term success.
The North American long read sequencing market is poised for continued growth, driven by ongoing technological advancements, increasing investment in genomic research, and the expanding applications of precision medicine. A future-oriented perspective is essential for stakeholders to capitalize on these opportunities and maintain a competitive edge.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
