Demand for Long Read Sequencing is expected to surge at a CAGR of 14.8% during the forecast period 2022-2032 | Oxford Nanopore Technologies Limited, Pacific Biosciences of California, Inc, Quantapore, Inc, Stratos Genomics, Inc

The global Long Read Sequencing Market was valued at 1.5 billion in 2022 and it is anticipated to grow up to USD 6.0 billion by 2032, at a CAGR of 14.8% during the forecast period.

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Market Trends and Drivers

Rising utilization of sequence analysis methodologies.

The increasing acceptance of modern approaches for medical diagnostics, represents one of the key factors bolstering the market growth. The escalating demand for LRS technology can also be attributed to its portability and real-time speed. It is also used to produce an accurate reference map of the centromere of the chromosomes.

Apart from this, various biotech companies are developing innovative technologies that combine a new library prep method and genome analysis tools. In line with this, several studies indicate that LRS technology plays a crucial role in discovering novel pathogenic mutations in human diseases with unknown genetic causes.

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This presents numerous opportunities to researchers for using the technology in whole-genome sequencing (WGS) and enabling advancements in medical genetics.

Furthermore, the rising utilization of sequence analysis methodologies in medical institutes for academic purposes, in confluence with the increasing investments in research and development (R&D) activities, is anticipated to drive the market growth further.

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Global Long Read Sequencing Market Segmentation
By Technology

Single-Molecule Real-Time Sequencing (SMRT)
Nanopore Sequencing

By Workflow

Pre-sequencing
Sequencing
Data Analysis

By Application

Identification & fine mapping of structural variation
Tandem Repeat Sequencing
Pseudogene discrimination
Cancer
Others

By End-use

Academic Research
Clinical Research
Hospitals & Clinics
Pharma & Biotech Entities
Other

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