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.

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Five years ago, genomic sequencing was primarily a research tool. Now, it's rapidly moving into clinical practice, with over 60 million patient genomic datasets expected to be generated in healthcare within the next five years. This shift has been fueled by substantial government investments, totaling over US$ 4 billion across at least 14 countries, driving national genomic medicine initiatives and paving the way for wider adoption.

North America Long Read Sequencing Market Soars

North America is a leading market for long read sequencing, with the US holding the largest share, followed by Canada. This market growth is largely due to increased demand for gene synthetic techniques from biopharmaceutical and biotechnology companies, along with extensive R&D efforts by academic and research institutions.

Factors further stimulating this market include a growing emphasis on incorporating advanced methods in healthcare, government and private initiatives promoting precision medicine, and significant funding for genomic research. The COVID-19 pandemic has also played a crucial role, boosting market growth in the region. The numerous benefits of long read sequencing are a major driving force behind the North America Long Read Sequencing Market expansion.

The US was particularly impacted by the COVID-19 pandemic, leading to a surge in genomic sequencing efforts to track coronavirus mutations. For example, the US sequenced 3% of samples, ranking 43rd in the GISAID Initiative, a global genome sequencing database project. This highlights the country's increasing capacity and focus on genomic sequencing to combat COVID-19 and emerging variants.

In Canada, Genome Canada launched the Canadian COVID Genomics Network in April 2020, backed by USD 40 million in funding. This initiative involves partnerships with regional Genome centers, sequencing centers, public health labs, universities, hospitals, and the private sector to scale up genome-based COVID-19 research. Similarly, in April 2020, Pacific Biosciences of California, Inc., and Labcorp collaborated to develop a production-scale assay for sequencing complete SARS-CoV-2 genomes from patient samples using the Sequel II system. These developments are expected to significantly contribute to the future demand for long read sequencing in North America.

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