Third Generation Sequencing Market is Estimated To Witness High Growth Owing To Efficient Genome Sequencing Capabilities

Third Generation Sequencing Market 

The global Third Generation Sequencing Market is estimated to be valued at US$ 8.93 Bn in 2022 and is expected to exhibit a CAGR of 13.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Third generation sequencing allows for real-time sequencing of long DNA molecules without prior amplification, enabling analysis of epigenetic markers, detection of rare mutations, and discovery of structural variations. It offers improved read lengths over second generation sequencing platforms.

Market key trends:

One of the key trend gaining popularity in the third generation sequencing market is long-read sequencing. Long-read sequencing provides advantage of generating long, continuous DNA/RNA reads of up to 100,000+ bases in length. It simplifies sequence assembly and structural variant detection. For example, Pacific Biosciences' Single Molecule, Real-Time (SMRT) sequencing can generate average read lengths in excess of 10kb, helping assemble genomes with greater accuracy and resolve complex structural variations that were difficult to elucidate before.

Segment Analysis

The Third Generation Sequencing Market generation sequencing market is segmented into single-molecule real-time sequencing (SMRT), nanopore sequencing and synthesis sequencing. Among these, the single-molecule real-time sequencing (SMRT) segment currently dominates the third generation sequencing market as it is capable of producing long reads up to hundreds of kilobases. SMRT can sequence full bacterial and viral genomes and identify structural variants and large haplotypes. This has led to its wider adoption in applications like genome assembly and long-read sequencing projects across academic research and clinical diagnostics.

Key Takeaways

The global third generation sequencing market is expected to witness high growth, exhibiting CAGR of 13.1% over the forecast period, due to increasing demand for real-time, long-read and affordable sequencing. The market size is expected to reach US$ 24.2 Bn by 2030.

From a regional perspective, North America is expected to dominate the third generation sequencing market during the forecast period. This is attributed to high adoption of advanced sequencing technologies, strong presence of industry players and increasing R&D investments in the region.

Key players operating in the third generation sequencing market are Pacific Biosciences of California, Inc., Oxford Nanopore Technologies, Ltd., BGI Genomics Co., Ltd., F. Hoffmann-La Roche AG, Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., Agilent Technologies, Inc., GenapSys Inc., Loop Genomics, Nabsys, Inc., Genia Technologies, Inc., Stratos Genomics, Inc., GATC Biotech AG, Phase Genomics, Inc. The market players are focusing on new product launches, partnerships and geographic expansions to gain market share.

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