Dublin, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Nanopore Sequencing Market 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The global Nanopore Sequencing Market is witnessing substantial growth and is anticipated to continue expanding with a Compound Annual Growth Rate (CAGR) of 17.57% through 2028. Several key drivers, challenges, and trends are shaping the growth of this market:
Key Market Drivers:
- Increase in Demand for DNA Sequencing: The demand for DNA sequencing has grown across various research applications, which is driving the adoption of nanopore sequencing. This technology offers real-time, single-molecule analysis of DNA, RNA, and other biomolecules and is increasingly used in genomics, genetics, and more.
- Partnerships and Acquisitions: The market has seen numerous strategic partnerships and acquisitions among key players, aiming to foster the development of advanced sequencing platforms and boost adoption, particularly in clinical applications.
- Introduction of Internet of Things (IoT): IoT has improved nanopore technology by allowing sequencers to be connected to cloud computing labs, facilitating remote monitoring and data analysis. This development expands genomics applications and has the potential to revolutionize healthcare and personalized medicine.
- Increase in R&D on Nanopore Sequencing: Intensive research and development efforts are continuously advancing nanopore sequencing technology. This includes reducing the error rate, enhancing sample preparation, increasing read lengths, and making sequencers more portable.
Key Market Challenges:
- Higher Error Rate and Experimental Barriers: Nanopore sequencing has a higher error rate and may require larger sample sizes compared to some other sequencing methods. Efforts are ongoing to improve accuracy and reduce sample size requirements.
- Issues in Maintaining Nucleotide Integrity: Maintaining the structural integrity of nucleotides during sequencing can be a challenge, especially for damaged or fragmented samples. Research and development aim to address these issues.
Key Market Trends:
- Use of Nanopore Sequencing for Fourth Generation DNA Sequencing: Nanopore sequencing is becoming more affordable, with the potential to sequence the entire human genome for less than USD 1,000. This affordability is expected to drive adoption in genomics and personalized medicine.
- Miniaturization and Portability: Nanopore sequencers are becoming smaller and more portable, enabling on-site sequencing in various settings, including remote locations and point-of-care applications.
Key Market Segments:
- Products: Consumables are a significant contributor to revenue and are expected to continue growing as they play a vital role in DNA and RNA sequencing.
- End Users: Academic & Research Institutes are the leading end users, driving innovation and research in nanopore sequencing.
- Regional Insights: North America dominates the market due to increasing demand for nanopore sequencing. Asia-Pacific, South America, and the Middle East and Africa offer growth opportunities.
Key Market Players:
- Oxford Nanopore Technologies plc
- Illumina, Inc.
- F. Hoffmann-La Roche AG
- 10X Genomics, Inc.
- Agilent Technologies, Inc.
- NabSys, Inc.
- Sequenom, Inc.
- Quantapore, Inc.
- InanoBio Inc.
- Electronic BioSciences, Inc.
The report covers a wide range of product categories, applications, types, end-users, and regions, providing a comprehensive overview of the nanopore sequencing market and the factors driving its growth.
For more information about this report visit https://www.researchandmarkets.com/r/sqoj1
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