Third generation sequencing, also known as long-read or single-molecule sequencing, involves techniques that can sequence DNA or RNA molecules without amplification or chemical labeling of the sample. This is different from the currently dominating second-generation sequencing which requires DNA fragmentation, amplification and labeling. Third generation sequencing allows sequencing of longer fragments of DNA up to hundreds of kilobase-pairs in length in a single read. It enables detection of modifications, duplications, and structural variants. It is used for de novo sequencing, diagnostics of genetic disorders, transcriptome analysis, metagenomics and DNA methylation analysis.

The global third generation sequencing market is estimated to be valued at US$ 11.64 Mn  in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growth of the third generation sequencing market is majorly driven by the rising prevalence of chronic and infectious diseases globally. According to the World Health Organization (WHO), chronic diseases accounted for over 70% of all deaths globally in 2020. Cancer, cardiovascular diseases, diabetes and chronic respiratory diseases are major public health issues. With advancements in genomics and sequencing technologies, understanding the genetic basis of such diseases has become important. Third generation sequencing allows comprehensive analysis of genomes and identification of genetic variants associated with diseases. This key driver favoring market growth. Another major driver is the ability of third generation sequencing techniques to read lengthy DNA fragments directly without needing previous fragmentation or chemical labeling steps. This reduces sequencing time, labor requirement and overall costs, thus boosting the adoption of third generation sequencing solutions.

SWOT Analysis
Strength: Third generation sequencing can sequence entire human genomes at a fraction of the cost compared to previous generations. It provides high throughput and reduced cost per genome. It has led to discovery of novel disease biomarkers.
Weakness: The data analysis and storage requirements are massive due to generation of terabases of raw sequencing data in a single run. Precise data analysis requires high performance computing infrastructure.
Opportunity: It can be used for clinical genetic testing at a large scale. Discovery of rare variants and biomarkers can enable development of personalized medicine strategies. Population level genome studies can help discover disease susceptibility loci.
Threats: Ethical and legal issues around storage and analysis of massive genomic data need to be addressed. Intellectual property issues around genomic data sharing may limit commercial opportunities.

Key Takeaways
Global Third Generation Sequencing Market Size  is expected to witness high growth over the forecast period of 2024 to 2030.

Regional analysis: North America currently has the largest share in the third generation sequencing market mainly due to supportive government policies and strong funding for genomics research in the US. The Asia Pacific region is predicted to grow at the fastest rate during the forecast period owing to increasing healthcare expenditure, rising awareness, and improving research infrastructure in India and China.

Key players operating in the third generation sequencing market are Pfizer, Inc., F. Hoffmann-La Roche Ltd, Takeda Pharmaceutical Company Limited, Regeneron Pharmaceuticals Inc., and Sanofi. These companies are focusing on partnerships and collaborations to develop innovative sequencing applications in clinical research and diagnostics.

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