Third Generation Sequencing is Estimated to Witness High Growth Owing to Rise in Genomics Research
Third generation sequencing involves the direct observation and sequencing of DNA without amplification. It produces long reads that enable the rapid assembly of complex genomes and analysis of structural variation. This non-invasive technique eliminates the need for DNA extraction and simplifies clinical applications. The technology has found applications in de novo genome assembly, structural variant detection, targeted sequencing, haplotyping, methylome analysis, and RNA analysis.
The global third generation sequencing market is estimated to be valued at US$ 10.1 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The rise in genomics research and precision medicine initiatives undertaken by various governments worldwide is a key driver boosting the demand for third generation sequencing technologies. Global initiatives and campaigns such as all of US, UK Biobank, Precision Medicine Initiative, and Global Alliance for Genomics and Health are promoting large-scale sequencing projects for clinical research and health applications. This is fueling the adoption of high throughput and cost-effective long-read sequencing tools for whole-genome analysis. In addition, rising R&D investments by government bodies and life science companies in the development of novel sequencing platforms and protocols is a major factor contributing to the ongoing technological advancements in this market.
SWOT Analysis
Strength: Third Generation Sequencing techniques such as single molecule real-time sequencing and nanopore sequencing provide long read lengths enabling structural and genomic variant detection. These technologies can sequence DNA or RNA molecules without requiring amplification. They also offer higher throughput with single run sequencing.
Weakness: Third Generation Sequencing platforms are still expensive and have low throughput compared to second-generation sequencing methods. Data analysis and read accuracy remain challenges for some platforms.
Opportunity: Growth in clinical applications and discovery-based research in genomics, transcriptomics and epigenomics are expected to drive demand. Expanding applications in reproductive health, oncology, and inherited disease diagnosis provide opportunities.
Threats: Established players in sequencing have strong market positions and alternative sequencing methods could emerge. Potential pricing pressures from low-cost competitors may impact revenue growth of platform developers. Intellectual property disputes regarding sequencing technologies could impact the market.
Key Takeaways
Global Third Generation Sequencing Market Demand is expected to witness high growth over the forecast period. North America is currently the dominant region due to extensive research in genomics and early technology adoption.
Regional analysis related content comprises North America accounts for the largest share of the third generation sequencing market currently owing to presence of major players and increasing funding for genomics research in the US. The Asia Pacific region is projected to grow at the fastest CAGR during the forecast period with growing focus on precision medicine and research in countries such as China and India.
Key players related content comprises 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.
Get More Insights on this Topic- https://cmi-latestreportorientedblogs.blogspot.com/2023/12/third-generation-sequencing-market-is.html
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian