North America Long Read Sequencing Market

Market Introduction

North America is the largest market for long read sequencing, with the US holding the largest market share, followed by Canada. The growth in North America is characterized by an increase in the demand for gene synthetic techniques from biopharmaceutical and biotechnology companies, key market players, and extensive R&D conducted by various academic and research institutes. Moreover, increasing focus on advanced method incorporation in healthcare, government, and private initiatives to promote precision medicine and massive funds from government and private bodies for genomic research is further expected to stimulate growth and contribute to exceptional revenue generation for the long read sequencing market in North America. Furthermore, the growing investments by governments of the countries, and the global COVID-19 pandemic has enhanced the growth of market in the region. Benefits of long read sequencing is the major factor driving the growth of the North America long read sequencing market.

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.

North America Long Read Sequencing Strategic Insights

Strategic insights for the North America Long Read Sequencing provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Long Read Sequencing Report Scope

North America Long Read Sequencing Regional Insights

The geographic scope of the North America Long Read Sequencing refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.

Key Market Segments

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.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the long read sequencing market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are BaseClear B.V.; Bionano Genomics; F. HOFFMANN-LA ROCHE LTD.; Illumina, Inc.; Oxford Nanopore Technologies; PerkinElmer, Inc.; and TATAA Biocenter are among others.

Reasons to buy report

• To understand the North America long read sequencing market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America long read sequencing market
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America long read sequencing market
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Long Read Sequencing Market Segmentation

North America Long Read Sequencing Market -By Technology

• Single-Molecule Real-Time Sequencing (SMRT)
• Nanopore Sequencing
• Loop Genomics Long-Read Sequencing

North America Long Read Sequencing Market -By

Product

• Instruments
• Consumables
• Services

North America Long Read Sequencing Market -By Application

• Identification and fine mapping of structural variation
• Tandem Repeat Sequencing
• Pseudogene discrimination
• Resolving allele phasing
• Reproductive genomics
• Cancer
• Viral and Microbial Sequencing
• Others

North America Long Read Sequencing Market -By Workflow

• Pre-sequencing
• Sequencing
• Data Analysis

North America Long Read Sequencing Market -By End User

• Academic Research Institutes
• Hospitals and Clinics
• Pharma and Biotechnology Companies

North America Long Read Sequencing Market -By Country

• US
• Canada
• Mexico

North America Long Read Sequencing Market -

Company Profiles

• Bionano Genomics
• F. HOFFMANN-LA ROCHE LTD.
• Illumina, Inc.
• Oxford Nanopore Technologies
• Pacific Biosciences of California, Inc.
• PerkinElmer, Inc.
• Quantapore, Inc.