The long read sequencing market in North America is expected to grow from US$ 570.24 million in 2021 to US$ 2,254.97 million by 2028; it is estimated to grow at a CAGR of 21.7% from 2021 to 2028. Five years ago, genomic sequencing was restricted to the research environment. At present, it is increasingly used in clinical practice, and over the next five years, genomic data from over 60 million patients are expected to be generated within healthcare. Genomic sequencing is rapidly transitioning into clinical practice, and implementation into healthcare systems has been supported by substantial government investment, totaling over US$ 4 billion in at least 14 countries. These national genomic-medicine initiatives drive transformative change under real-life conditions while addressing barriers to implementation and gathering evidence for broader adoption, thereby driving the market growth.

The List of Companies 

1. Bionano Genomics

2. F. HOFFMANN-LA ROCHE LTD.

3. Illumina, Inc.

4. Oxford Nanopore Technologies

5. Pacific Biosciences of California, Inc.

6. PerkinElmer, Inc.

7. Quantapore, Inc.

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By Technology

• Single-Molecule Real-Time Sequencing

• Nanopore Sequencing

• Loop Genomics Long Read Sequencing

By Product

• Instruments

• Consumables

• Services

By Application

• Identification and fine mapping of structural variation

• Tandem Repeat Sequencing

• Pseudogene discrimination

• Resolving allele phasing

• Reproductive genomics

• Cancer

• Viral and Microbial Sequencing

By Workflow

• Pre-sequencing

• Sequencing

• Data Analysis

By End User

• Academic Research Institutes

• Hospitals and Clinics

• Pharma and Biotechnology Companies

Market Overview
North America dominates the long read sequencing market, with the United States holding the largest market share, followed by Canada. The region's growth is driven by increasing demand for gene synthesis techniques among biopharmaceutical and biotechnology companies, significant investments from key market players, and extensive R&D activities conducted by academic and research institutions. Additionally, the rising adoption of advanced sequencing technologies in healthcare, government, and private-sector initiatives promoting precision medicine, as well as substantial funding for genomic research, are key factors fueling market expansion. The impact of the COVID-19 pandemic has further accelerated market growth, as increased investments and genomic research initiatives have heightened the demand for long read sequencing solutions.

The advantages of long read sequencing, such as improved accuracy in genome assembly and detection of structural variations, are among the primary drivers of market expansion in North America. Governments in the region have significantly invested in genomic projects, and the pandemic has underscored the importance of sequencing technologies in tracking and understanding virus mutations.

Impact of COVID-19 on the North American Market
The COVID-19 pandemic profoundly affected the US, which recorded the highest number of positive cases and continues to combat emerging variants. The healthcare sector underwent significant transformations due to the pandemic, leading to increased collaboration among scientists to generate and share genomic sequence data for disease diagnosis and containment efforts. In response, the US has intensified its genomic sequencing capabilities to track virus mutations, as experts have linked these variants to rising case numbers and hospitalizations.

For example, the US ranked 43rd in genome sequencing efforts by sequencing only 3% of samples, according to the GISAID Initiative, a global genome sequencing database project. However, sequencing genomic data remains a crucial tool in combating COVID-19 and its evolving strains. Similarly, in April 2020, Genome Canada launched the Canadian COVID Genomics Network (CanCOGeN), a USD 40 million initiative. This program established partnerships between Genome Canada, six regional Genome Centers, genome sequencing facilities (through CGEn), public health laboratories, universities, hospitals, and private-sector stakeholders to expand genome-based COVID-19 research in Canada and beyond.

Additionally, in April 2020, Pacific Biosciences of California, Inc., collaborated with Labcorp to develop a large-scale assay to sequence the complete genome of thousands of SARS-CoV-2 viruses using the Sequel II system. Such initiatives and technological advancements are expected to drive future demand for long read sequencing in North America.

Strategic Insights for the North America Long Read Sequencing Market
Strategic insights into the North American long read sequencing market provide a data-driven analysis of industry trends, key players, and regional dynamics. These insights enable businesses to identify untapped opportunities and develop distinct value propositions. By leveraging data analytics, industry stakeholders, including investors and manufacturers, can anticipate market shifts and position themselves for long-term success.

A future-focused approach is essential for staying competitive in this evolving landscape. Understanding market dynamics allows businesses to differentiate themselves, maximize profitability, and make informed decisions that align with industry developments. Ultimately, strategic insights empower stakeholders to navigate the complexities of the long read sequencing market and capitalize on emerging opportunities within North America.

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights