North America Long Read Sequencing Market Demand and Analysis by Forecast to 2028 

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 primarily a research tool. Today, its use in clinical practice is rapidly expanding, with projections indicating that healthcare systems will generate genomic data from over 60 million patients within the next five years. This swift transition into clinical settings has been significantly supported by substantial government investments exceeding US$ 4 billion across at least 14 countries. These national genomic-medicine initiatives are driving transformative changes in real-world healthcare environments by addressing implementation challenges and generating evidence to support broader adoption, thereby fueling North America Long Read Sequencing Market growth. 

North America Long Read Sequencing Market Introduction

North America currently represents the largest market for long-read sequencing, with the United States holding the dominant market share, followed by Canada. The growth in this region is driven by increasing demand for gene synthesis techniques from biopharmaceutical and biotechnology companies, the presence of key market players, and extensive research and development activities conducted by various academic and research institutions. Furthermore, a growing emphasis on incorporating advanced methods in healthcare, coupled with government and private initiatives promoting precision medicine and significant funding from both public and private sectors for genomic research, is expected to further stimulate growth and contribute to substantial revenue generation for the long-read sequencing market in North America. Moreover, increasing government investments and the global COVID-19 pandemic have further accelerated market growth in the region. The inherent benefits of long-read sequencing are a major factor propelling the North America Long Read Sequencing Market. 

Within North America, the US was significantly impacted by the COVID-19 pandemic, recording the highest number of positive cases and currently facing subsequent waves. The pandemic's effects have been felt across various healthcare sectors, leading to significant changes in the healthcare industry. Scientists are actively collaborating to generate and share genomic sequence data to aid in disease diagnosis and control efforts. The US is enhancing its capacity to track coronavirus mutations through genomic sequencing, particularly as experts warn that new variants are contributing to increased case numbers and hospitalizations. For instance, according to the GISAID Initiative, a global genome sequencing database project, the US ranked 43rd in genome sequencing projects, having sequenced 3% of samples. Genome sequencing can play a crucial role in combating COVID-19 and emerging variants. Moreover, in April 2020, Genome Canada launched the Canadian COVID Genomics Network, an initiative supported by USD 40 million in funding. This initiative involves a partnership between Genome Canada and six regional Genome centers, genome sequencing centers through CGEn, national and regional public health labs, universities, hospitals, and the private sector, with the aim of scaling up existing genome-based COVID-19 research in Canada and globally. Similarly, in April 2020, Pacific Biosciences of California, Inc., and Labcorp collaborated to develop a production-scale assay from positive patient samples to sequence the complete genomes of thousands of SARS-CoV-2 viruses using the Sequel II system. All these developments are expected to contribute to the future demand for North America Long Read Sequencing Market.

North America Long Read Sequencing Market Segmentation

North America Long Read Sequencing Market -By Technology

• Single-Molecule Real-Time Sequencing (SMRT)

• Nanopore Sequencing

• Loop Genomics Long-Read Sequencing

North America Long Read Sequencing Market -By Product

• Instruments

• Consumables

• Services

North America Long Read Sequencing Market -By Application

• Identification and fine mapping of structural variation

• Tandem Repeat Sequencing

• Pseudogene discrimination

• Resolving allele phasing

• Reproductive genomics

• Cancer

• Viral and Microbial Sequencing

• Others

North America Long Read Sequencing Market -By Workflow

• Pre-sequencing

• Sequencing

• Data Analysis

North America Long Read Sequencing Market -By End User

• Academic Research Institutes

• Hospitals and Clinics

• Pharma and Biotechnology Companies

North America Long Read Sequencing Market -By Country

• US

• Canada

• Mexico

North America Long Read Sequencing Market -Company Profiles

• Bionano Genomics

• F. HOFFMANN-LA ROCHE LTD.

• Illumina, Inc.

• Oxford Nanopore Technologies

• Pacific Biosciences of California, Inc.

• PerkinElmer, Inc.

• Quantapore, Inc.

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights