Long Read Sequencing Market By Product (Consumables, Services, and Instruments), By Technology (Nanopore Sequencing, Single Molecule Real Time Sequencing, and Others), By Workflow (Sequencing, Data Analysis, and Pre-Sequencing), By Application (Whole Genome Sequencing, Targeted Sequencing, RNA Sequencing, Metagenomics, Epigenetics, and Others), By End-Use (Academic & Research Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Others), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2025-2034

Report Overview

The Long Read Sequencing Market Size is expected to be worth around US$ 10.5 billion by 2034 from US$ 0.7 billion in 2024, growing at a CAGR of 31.1% during the forecast period 2025 to 2034.

Increasing demand for precise genomic data and advancements in sequencing technologies drive the growth of the long-read sequencing market. Long-read sequencing enables researchers to obtain high-quality, long reads of DNA, which provide a more comprehensive and accurate representation of genomes compared to traditional short-read sequencing. This capability is crucial in applications such as structural variation analysis, complex disease research, and de novo genome assembly.

Long-read sequencing plays a vital role in advancing genomic medicine, particularly in the study of rare diseases and complex genetic conditions. In July 2024, researchers from King Abdullah University of Science and Technology unveiled NanoRanger, a novel sequencing platform designed to enable rapid and cost-effective diagnosis of Mendelian genetic disorders, completing the process within hours.

The platform’s ability to quickly generate high-quality sequencing data offers significant potential in clinical diagnostics. As long-read sequencing technologies continue to evolve, they open new opportunities in personalized medicine, genetic testing, and the study of complex diseases, creating a strong demand for innovations that improve efficiency and accuracy in genomic research. This ongoing trend highlights the increasing importance of long-read sequencing in both research and clinical settings.

Key Takeaways

• In 2024, the market for long read sequencing generated a revenue of US$ 0.7 billion, with a CAGR of 31.1%, and is expected to reach US$ 10.5 billion by the year 2033.
• The product segment is divided into consumables, services, and instruments, with consumables taking the lead in 2024 with a market share of 58.2%.
• Considering technology, the market is divided into nanopore sequencing, single molecule real time sequencing, and others. Among these, nanopore sequencing held a significant share of 54.7%.
• Furthermore, concerning the workflow segment, the market is segregated into sequencing, data analysis, and pre-sequencing. The sequencing sector stands out as the dominant player, holding the largest revenue share of 56.9% in the long read sequencing market.
• The application segment is segregated into whole genome sequencing, targeted sequencing, rna sequencing, metagenomics, epigenetics, and others, with the whole genome sequencing segment leading the market, holding a revenue share of 53.4%.
• Considering end-use, the market is divided into academic & research institutes, hospitals & clinics, pharmaceutical & biotechnology companies, and others. Among these, academic & research institutes held a significant share of 60.3%.
• North America led the market by securing a market share of 43.4% in 2024.

Product Analysis

In 2024, the consumables segment led the long read sequencing market, holding a dominant share of 58.2%. This growth was driven by the rising use of consumables such as reagents, kits, and associated tools by researchers and clinicians. These products are essential for enabling reliable, high-quality sequencing data. The adoption of long read sequencing for various applications in genomics and transcriptomics has expanded rapidly. This trend reflects a growing focus on accurate data generation and robust workflow efficiency in both research and clinical laboratories.

The demand for consumables is also fueled by advancements in sequencing technology and the push toward precision medicine. As sequencing platforms become more affordable, their use in diverse fields is expected to grow. Hospitals, diagnostics labs, and academic institutions are increasingly investing in long read sequencing systems. This rising demand will directly contribute to increased consumption of high-performance consumables. The ongoing reduction in sequencing costs and the expansion of real-world applications will likely ensure steady growth for this segment over the coming years.

Technology Analysis

The nanopore sequencing held a significant share of 54.7% due to its ability to generate long reads with high accuracy and without the need for amplification. Nanopore sequencing technology is likely to see increased adoption due to its ability to provide real-time sequencing results and its potential to sequence a broad range of DNA and RNA samples.

This technology’s growing application in clinical diagnostics, genetic research, and personalized medicine is expected to drive its expansion. Additionally, its relatively lower cost and ease of use compared to other sequencing technologies are projected to contribute to its continued growth in the market.

Workflow Analysis

The sequencing segment experienced significant growth, holding a revenue share of 56.9%. This expansion is driven by the rapid evolution of sequencing technologies, which are meeting the growing demand for detailed genomic information. As sequencing methods improve, the ability to decode larger and more complex genomes becomes more feasible. This is expected to drive demand for sequencing services and instruments across research and clinical settings. The continuous innovation in this space is supporting broader adoption across multiple genomic applications.

As sequencing becomes more affordable and widely available, there is a growing need for data analysis and pre-sequencing services. These supporting services are becoming essential to manage the volume and complexity of genomic data. The rise in high-throughput applications such as whole-genome sequencing and metagenomics is further fueling this trend. Efficient workflows, reliable instruments, and specialized consumables are in high demand. This, in turn, is expected to boost the overall market performance of the sequencing segment during the forecast period.

Application Analysis

The whole genome sequencing segment grew at a substantial rate, generating a revenue portion of 53.4% as whole-genome sequencing becomes more widely adopted in both research and clinical applications. This growth is driven by the increasing demand for personalized medicine and the need to understand genetic variations at a deeper level.

As sequencing technologies improve, the ability to sequence entire genomes with long reads will enhance the accuracy and depth of genomic data, making it invaluable for identifying rare genetic diseases, cancer mutations, and other conditions. The anticipated reduction in sequencing costs is expected to further accelerate the adoption of whole genome sequencing.

End-Use Analysis

The academic & research institutes held a significant share of 60.3% as academic and research institutions continue to lead the way in genomic research. The increasing availability of long read sequencing technologies and the growing interest in genomics, epigenetics, and transcriptomics will likely drive demand for these sequencing services in academic and research settings.

Additionally, the need for accurate and detailed genetic information for research into complex diseases, evolutionary biology, and environmental studies will further spur growth in this segment. Increased funding for genomic research and collaborations between research institutes and pharmaceutical companies will also contribute to the expansion of the academic & research institutes segment in the market.

Key Market Segments

By Product

• Consumables
• Services
• Instruments

By Technology

• Nanopore Sequencing
• Single Molecule Real Time Sequencing
• Others

By Workflow

• Sequencing
• Data Analysis
• Pre-Sequencing

By Application

• Whole Genome Sequencing
• Targeted Sequencing
• RNA Sequencing
• Metagenomics
• Epigenetics
• Others

By End-Use

• Academic & Research Institutes
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Others

Drivers

High Accuracy and Throughput Improvements are driving the market

Advancements in long-read sequencing technology, particularly regarding accuracy and throughput, are significantly driving market growth. Early limitations in accuracy have been substantially addressed, making the technology more reliable for detecting complex genomic variations with increased confidence. Furthermore, the introduction of high-throughput platforms allows for processing a greater number of samples efficiently, dramatically reducing the turnaround time for large-scale projects.

This technical progress expands the types of research and clinical applications where long-read sequencing is becoming the preferred method due to its ability to resolve challenging genomic regions and complex structural variants. For instance, Pacific Biosciences reported placing over 500 of its high-throughput Revio systems in 2023 alone, indicating a strong uptake of platforms designed for increased output and accuracy during the 2022-2024 period. These continuous improvements make long-read sequencing an increasingly attractive and feasible option for diverse genomic studies.

Restraints

High Cost and Data Analysis Complexity are restraining the market

Despite technological advancements, the relatively high cost per sample and the complexity of data analysis workflows currently restrain the widespread adoption of long-read sequencing. While throughput has increased, the overall expense of reagents and the initial capital investment for high-end instruments can still pose a significant barrier for some laboratories compared to established short-read sequencing methods. Analyzing the unique data generated by long-read technologies necessitates specialized bioinformatics tools and expertise, adding to the operational cost and requiring dedicated training for personnel.

For example, companies like Oxford Nanopore Technologies reported significant investments in research and development, including software and data analysis tools, totaling approximately US$166 million in the first half of 2023; while this investment aims to simplify workflows, the ongoing need for sophisticated analysis remains a challenge that impacts the total cost of ownership and limits broader market penetration for some potential users. Overcoming these financial and technical hurdles is crucial for wider market expansion.

Opportunities

Expanding Clinical Applications are creating growth opportunities

The increasing recognition of long-read sequencing’s value in clinical diagnostics presents a significant growth opportunity for the market. Its unique capability to comprehensively characterize complex genomic alterations, such as structural variants, methylation patterns, and repeat expansions, makes it invaluable for diagnosing genetic disorders and understanding disease mechanisms that are difficult to resolve with short reads.

Applications in clinical oncology, particularly for complex tumor profiling and identifying difficult-to-detect fusion genes, are also emerging as key areas. As evidence builds supporting the clinical utility of long-read data, regulatory pathways are expected to become clearer, facilitating broader adoption in diagnostic laboratories globally.

Public databases, such as the National Institutes of Health’s PubMed, show a large volume of clinical research publications referencing “long read sequencing” published during the 2022-2024 timeframe, indicating growing interest and exploration of its diagnostic potential. This growing acceptance and integration into clinical workflows are expected to drive substantial future demand for long-read sequencing technologies.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic and geopolitical factors introduce both challenges and potential upsides for the long-read sequencing market. Global economic conditions, including fluctuating inflation rates and potential research budget constraints experienced in recent years, can influence the pace of investment in new sequencing platforms by academic institutions and slow down the initiation of large, costly projects requiring significant consumable expenditure.

Geopolitical tensions and trade disputes sometimes disrupt global supply chains for essential components and reagents, potentially leading to increased costs and delays for companies and researchers worldwide. For example, the average inflation rate in the US was 8.0% in 2022 and 4.1% in 2023, impacting operational costs for companies and the purchasing power of research budgets.

Despite these potential headwinds, the strategic importance of genomic research for national health security and economic competitiveness often prompts governments to maintain or even increase funding in this critical area, providing a degree of insulation from broader economic downturns and fostering continued innovation and market activity.

Current US tariff policies introduce complexities that affect the long-read sequencing market landscape. Tariffs imposed on specific laboratory equipment or components imported from certain countries can increase the manufacturing costs for sequencing platform providers, potentially leading to higher prices for instruments and consumables sold within the US, which might deter some potential customers.

These trade barriers can also complicate the logistics of international shipping and procurement of raw materials for companies operating globally, creating administrative burdens and potential delays in product delivery. For instance, the US International Trade Commission (USITC) maintains tariff schedules that apply to various categories of imported goods, including scientific instruments and related components, which can impact the cost structure for companies in the sequencing field.

While tariffs present challenges by potentially increasing costs and disrupting supply chains, they can also incentivize domestic manufacturing and sourcing of components within the US, potentially fostering local industry growth and reducing reliance on foreign supply chains in the long term. The fundamental scientific value and expanding applications of long-read sequencing continue to drive demand, encouraging companies to navigate these trade policies and adapt their operational strategies to ensure continued progress and market availability.

Latest Trends

Increased Adoption in Population Genomics Initiatives is a recent trend

A recent trend significantly driving the long-read sequencing market is its increasing adoption in large-scale population genomics initiatives worldwide. Researchers leading these ambitious projects recognize the unique advantages of long reads for generating more complete and accurate genome assemblies, particularly for diverse and underrepresented populations. These initiatives aim to capture a wider range of human genetic variation, including complex structural variants and challenging-to-sequence regions often missed by short-read sequencing alone, to build more comprehensive reference genomes.

The Human Pangenome Project, actively building a more representative reference using long-read technologies, exemplifies this trend. Funding bodies are supporting this shift; for instance, the US National Institutes of Health (NIH) awarded approximately US$12.5 million in new grants in September 2023 specifically for research contributing to the Human Pangenome Project, much of which relies on long-read sequencing technologies. As these initiatives progress, they consume significant quantities of long-read consumables and establish methodologies that will facilitate future research and clinical applications based on these richer genomic resources.

Regional Analysis

North America is leading the Long Read Sequencing Market

North America dominated the market with the highest revenue share of 43.4% owing to advancements in technology and expanding applications in both research and clinical settings. Improved accuracy and increased throughput of newer long-read platforms made them more appealing for projects requiring comprehensive genomic characterization, such as resolving complex structural variants and generating complete genome assemblies with greater precision.

Increased funding for large-scale genomics initiatives across the US and Canada further fueled this expansion, necessitating higher consumption of associated consumables. For instance, Pacific Biosciences reported placing 137 of its high-throughput Revio systems in the first quarter of 2024 alone, following over 500 placements in 2023, demonstrating strong adoption of these advanced systems in the region during the 2022-2024 period. This surge in instrument deployments directly correlates with increased demand for associated sequencing reagents and kits, highlighting the tangible growth in market activity.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

Asia Pacific is expected to grow with the fastest CAGR during the forecast period. Governments across several countries are prioritizing investments in precision medicine and large-scale genomic initiatives, which are expected to accelerate the adoption of advanced sequencing technologies. These national programs aim to sequence large cohorts, understand population-specific genetic variations, and translate findings into clinical practice, activities that benefit from the unique capabilities of analyzing long DNA fragments.

For instance, India’s Union Budget for 2023-2024 allocated approximately US$ 350 million towards the Department of Biotechnology, signaling significant government investment in the life sciences sector, which is expected to drive the uptake of advanced technologies like long-read analysis. The expanding healthcare infrastructure and growing awareness regarding personalized medicine in emerging economies within Asia Pacific also suggest an increasing need for comprehensive genomic profiling. This regional focus on building genomic infrastructure and pursuing ambitious research goals projects robust future demand for platforms capable of generating and analyzing extended DNA sequences.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

Key players in the long-read sequencing market focus on several growth strategies, including continuous innovation in sequencing technologies, strategic partnerships, and expanding their product portfolios. Companies invest heavily in research and development to enhance accuracy, speed, and cost-effectiveness of sequencing platforms. They also form collaborations with academic institutions, biotechnology firms, and healthcare organizations to broaden market access and accelerate adoption.

Additionally, expanding their global presence through acquisitions and establishing distribution networks helps companies capture larger market shares. Marketing efforts are also concentrated on educating potential customers about the benefits of long-read sequencing in various applications, such as genomics, cancer research, and clinical diagnostics.

Pacific Biosciences, a leader in genomics, is renowned for its innovative sequencing technology that provides accurate, real-time analysis of DNA and RNA. Their platform, which utilizes Single Molecule, Real-Time (SMRT) sequencing, offers long-read capabilities that enable comprehensive genomic studies.

PacBio’s focus on improving sequencing accuracy and throughput has positioned them as a key player in various fields, including genomics, cancer research, and personalized medicine. The company continues to strengthen its market position through collaborations, expanding product offerings, and providing high-quality sequencing solutions for diverse scientific applications.

Top Key Players in the Long Read Sequencing Market

• Pacific Biosciences
• Oxford Nanopore Technologies Limited
• NextOmics
• New England Biolabs
• MicrobesNG
• Eurofins Genomics
• Element Biosciences
• BGI Genomics

Recent Developments

• In October 2024, Pacific Biosciences introduced SPRQ, an advanced long-read sequencing chemistry for its Revio system. This innovation reduces the required DNA input by four times, boosting data output by 33%, enhancing methylation calling, and enabling expanded multi-omics applications.
• In May 2022, Pacific Biosciences teamed up with iLAC and the Robotic Biology Institute in Japan to explore automation in sample preparation for Sequel II and IIe systems, leveraging robotics to streamline workflows in long-read sequencing.

Report Scope