The advent of third-generation sequencing (TGS) technologies has revolutionized the field of genomics and opened up new possibilities for studying genomes, transcriptomes, and metagenomes with exceptional precision. TGS offers distinct advantages such as long reads without the need for amplification, direct detection of epigenetic modifications, and the ability to sequence challenging regions of the genome. These advancements have fueled the growth of the TGS market, providing researchers with powerful tools for in-depth genomic analysis.
According to Data Bridge Market Research the Third Generation Sequencing Market accounted for USD 9.01 billion in 2022, is expected to reach USD 28.73 billion by 2030, at a CAGR of 15.60% during the forecast period 2023 to 2030.
“Growing applications of third-generation sequencing”
Third-generation sequencing technologies, with their ability to generate long reads, have revolutionized genomic science and biology research. The longer reads enable more comprehensive genome assembly, detection of structural variants, and analysis of complex regions. Ongoing advancements in these technologies are addressing challenges such as high error rates, further boosting their adoption. The market for third-generation sequencing is poised for growth as researchers and scientists recognize the immense potential and benefits these technologies offer for understanding and exploring the intricacies of genomics.
What restraints the growth of third generation sequencing market?
“The easy availability of substitutes”
The third-generation sequencing market is constrained by the easy availability of substitutes. Alternative technologies, such as second-generation sequencing, offer cost-effective and high-throughput sequencing solutions. These substitutes have gained wide acceptance and are readily available in the market. As a result, the adoption of third-generation sequencing may be limited as users opt for more accessible and established alternatives, presenting a challenge for market growth in this sector.
Segmentation: Third Generation Sequencing Market
The third generation sequencing market is segmented on the basis of type, application.
- On the basis of type, the third generation sequencing market is segmented into single molecule real time (smrt) dna sequencing, nanopore-based single-molecule analysis technology, other.
- On the basis of application, the third generation sequencing market is segmented into genome sequencing, methylation studies, single nucleotide polymorphisms (snp) detection.
Regional Insights: North America Dominates the Third Generation Sequencing Market
North America's dominance in the third generation sequencing market is driven by the high prevalence of breast cancer patients in the region. The advanced sequencing technologies are extensively used for genomic profiling and personalized medicine, leading to the region's market dominance.
Asia-Pacific is anticipated to exhibit the highest growth rate in the forecast period. This growth can be attributed to the strategic focus of established market players to expand their presence in this region. The increasing investment in research and development, coupled with the rising adoption of genomic sequencing technologies, is driving the growth of the third generation sequencing market in Asia-Pacific.
To know more about the study visit, https://www.databridgemarketresearch.com/ko/reports/global-third-generation-sequencing-market
The Prominent Key Players Operating in the Third Generation Sequencing Market Include:
- Thermo Fisher Scientific, Inc. (U.S.)
- Illumina, Inc. (U.S.)
- QIAGEN(Germany)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Oxford Nanopore Technologies Ltd. (U.K.)
- Macrogen, Inc. (South Korea)
- Perkin Elmer, Inc. (U.S.)
- Pacific Biosciences of California, Inc. (U.S.)
- BGI (China)
- Bio-Rad Laboratories, Inc. (U.S.)
- Myriad Genetics (U.S.)
- Agilent Technologies, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of third generation sequencing market companies contact, https://www.databridgemarketresearch.com/ko/contact
Research Methodology: Global Third Generation Sequencing Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
