The long read sequencing market is propelled by expanding applications in genomics, including structural variant detection, RNA sequencing, and metagenomics. Advancements in technology, such as nanopore and single-molecule sequencing, drive market growth, enhancing sequencing accuracy and throughput. Moreover, the increasing demand for comprehensive genomic analysis in research, clinical diagnostics, and personalized medicine offers lucrative opportunities for market players to develop innovative solutions that address the evolving needs of the scientific community.
Global Long Read Sequencing Market, which was USD 519.64 million in 2022, is expected to reach USD 2,533.57 million by 2030 and is expected to undergo a CAGR of 21.9% during the forecast period 2023-2030.
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Below are the Top Long Read Sequencing Companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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Illumina, Inc.
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Illumina Inc. dominates the long read sequencing market with its cutting-edge sequencing platforms, offering high-throughput and accurate genomic analysis. Their solutions cater to diverse applications in research, clinical diagnostics, and personalized medicine, driving advancements in genomic research and healthcare.
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Asia-Pacific, North America, Latin America, Europe, and Middle East and Africa
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In November 2018, Illumina, Inc. and Pacific Biosciences signed an agreement for Illumina to acquire Pacific Biosciences at a price of USD 8.00 per Pacific Biosciences share. The board of directors of Illumina and Pacific Biosciences approves this agreement. This acquisition offers Illumina sequencing solutions with accurate long-read sequencing capabilities for the set of complex genomic questions. Therefore, it provides access to long-read sequencing and accelerates scientific discovery. The development makes the company’s product portfolio advanced in the market.
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2.
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Thermo Fisher Scientific Inc.
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Thermo Fisher Scientific Inc. is a leading contributor to the long read sequencing market, offering state-of-the-art platforms and reagents for genomic analysis. Their innovative solutions empower researchers with enhanced accuracy and efficiency, driving advancements in genomics research and personalized medicine.
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Asia-Pacific, North America, Europe, and Others Regions
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In March 2020, Thermo Fisher Scientific Inc. announced the acquisition of QIAGEN N.V. Thermo Fischer got the approval to acquire QIAGEN for Euro 39 per share in cash. This acquisition helps improve the product portfolio and increase the company's revenues as well as global reach in the market.
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3.
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Oxford Nanopore Technologies
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Oxford Nanopore Technologies is a prominent player in the long read sequencing market, pioneering portable sequencing platforms based on nanopore technology. Their innovative solutions enable real-time, long-read DNA sequencing, revolutionizing genomics research and applications in various fields, including clinical diagnostics and agriculture.
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North America, Asia-Pacifica and Europe
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In March 2019, Oxford Nanopore introduced Flangal for rapid, short DNA / RNA sequence analysis. Flongle is an adapter that can be used with the desktop GridION X5 and portable MinION sequencing devices. Small Flongle cells that can produce as much as 1.8 Gb of sequence data with headroom for more than 3 Gb. This product launch will help in the strengthening of the company’s product portfolio.
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4.
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Perkinelmer inc.
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PerkinElmer Inc. is a significant contributor to the long read sequencing market, offering advanced sequencing instruments and analysis solutions. Leveraging its expertise in genomics, PerkinElmer enables high-throughput long-read sequencing, empowering researchers with comprehensive genomic insights for diverse applications in healthcare, agriculture, and beyond.
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North America, Asia-Pacific and Europe
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PerkinElmer Inc., a notable player in the Long Read Sequencing Market, announced on May 5, 2023, the launch of a new long-read sequencing platform. This platform integrates advanced sequencing technology with enhanced data analysis capabilities, promising improved accuracy and efficiency in genomic analysis.
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5.
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Novogene Corporation
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Novogene Corporation is a significant player in the long read sequencing market, offering comprehensive sequencing services and solutions. With advanced technologies and expertise, Novogene facilitates high-quality genomic analysis, supporting research, clinical diagnostics, and drug development initiatives worldwide.
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North America, South America, and Europe
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In May 2018, Novogene Corporation announced the establishment of its first genomic sequencing center in Europe. The Novogene UK Genomic Sequencing Center which is established in Cambridge (United Kingdom), provides base for Novogene to serve its European customers and contribute to human health across Europe. Therefore this was helpful in the expansion of business.
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Conclusion
The long read sequencing market is driven by technological advancements, expanding applications in genomics, and the growing demand for comprehensive genomic analysis. Market players such as Illumina, Inc., Thermo Fisher Scientific Inc., Oxford Nanopore Technologies, Perkinelmer inc., and Novogene Corporation are at the forefront, capitalizing on these opportunities to develop innovative solutions. The market's future holds promising prospects as it continues to shape the landscape of genomic research and personalized medicine.
