Portland, OR, Sept. 13, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Long Read Sequencing Market was estimated at $603.5 million in 2021 and is expected to hit $4.5 billion by 2031, registering a CAGR of 22.3% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Market Size in 2031 | USD 4.5 Billion |
| CAGR | 22.3% |
| No. of Pages in Report | 322 |
| Segments Covered | Application, Techniques, Product, End-user, and Region. |
| Drivers | Increase in the prevalence of chronic diseases and genetic disorders |
| Initiatives taken by governments for large-scale sequencing projects | |
| Opportunities | Rise in utilization of sequence analysis methodologies |
| Surge in demand for genome mapping program |
Covid-19 scenario-
- Disrupted supply chains, restricted sales operations, and distorted marketing efforts hindered the shipping and delivery of products to customers. Consequently, many companies experienced a sharp decline in the sales of their sequencing consumables and instrument services, especially during the initial period, thus impacting the global long road sequencing market negatively.
- However, as the countries eased restrictions gradually, the market for long read sequencing got back on track at a quick pace.
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The global long read sequencing market is analyzed across application, techniques, product, end-user, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on application, the research applications segment contributed to nearly three-fourths of the global long read sequencing market revenue in 2021, and is expected to dominate by 2031. The clinical applications segment would also showcase the fastest CAGR of 22.8% throughout the forecast period.
Based on product, the consumables segment held around half of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also manifest the fastest CAGR of 23.3% throughout the forecast period. The other segments analyzed in the report take in instruments and services.
Based on end user, the pharmaceutical and biotech companies segment held more than two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The academic and government research institutes segment, on the other hand, would manifest the fastest CAGR of 23.5% throughout the forecast period.
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Based on region, the market across North America generated nearly half of the global market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, simultaneously, would manifest the fastest CAGR of 25.3% during the forecast period. The other regions studied in the report include LAMEA and Europe.
The key market players analyzed in the global long read sequencing market report include BaseClear BV, Grandomics, Cantata Bio, F. Hoffmann-La Roche Ltd., The Genome Transcription Facility of Bordeaux, Jiangsu Hengrui Pharmaceutical Co.Ltd., Agilent Technologies, Inc., MicrobesNG, Novogene, Illumina, Inc. Oxford Nanopore Technologies, Pacific Biosciences Inc., St Vincent's Hospital Australia, Takara Holdings Inc., Future Genomics Technologies, Thermo Fisher Scientific, Inc., and Element Biosciences. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
