Global Third Generation Sequencing Market – Industry Trends and Forecast to 2030

Global Third Generation Sequencing Market, By Type (Single Molecule Real Time (SMRT) DNA Sequencing, Nanopore-based Single-Molecule Analysis Technology, Other), Application (Genome Sequencing, Methylation Studies, Single Nucleotide Polymorphisms (SNP) Detection) – Industry Trends and Forecast to 2030.

Third Generation Sequencing Market Analysis and Size

As the world becomes more digitized, so does the legality of the third generation sequencing market. Technological advances and biomedical research were once considered a fringe practise and are now bustling with high-tech firms and scientists alike. With such a wide range of third-generation sequencing applications, it's no surprise that the market for this service has exploded in recent years. This expansion is expected to be driven primarily by rising demand for early disease detection and personalized medicine.

Data Bridge Market Research analyses that the third generation sequencing market which was USD 9.01 billion in 2022, is expected to reach USD 28.73 billion by 2030, at a CAGR of 15.60% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Third Generation Sequencing Market Scope and Segmentation  

Market Definition

The third-generation sequencing (TGS) era of DNA sequencing technology has gained a place in biology as a way to study genomes, transcriptomes, and metagenomes at unprecedented resolution. These technologies use single-molecule sequencing to provide the following benefits: long reads with no amplification, direct detection of epigenetic modifications on native DNA, and direct sequencing through regions of the genome that are inaccessible or difficult to analyze using short-read platforms.

Global Third Generation Sequencing Market Dynamics

Drivers

• Rising applications of Third-generation sequencing

Third-generation sequencing technologies can produce much longer reads than second-generation sequencing technologies. These advantages have significant implications for genomic science as well as general biology research. These technologies are actively being developed, and reductions in high error rates are expected. These all are the certain factors that help the market to grow.

Opportunities

• Technological advances

Certain factors driving market growth include advances in sequencing technology, increased application in clinical diagnosis and drug discovery, and increased R&D investments. DNA sequencing can be used for diagnostics, personalized medicine, biomarkers, forensics, reproductive health, and other purposes. Third generation sequencing technology has enormous potential in cancer diagnostics and therapeutics clinical research and development. Next-generation sequencing (NGS) technology has recently demonstrated its capability as a high-throughput and cost-effective approach to identifying and characterising clinically actionable genetic variants across multiple genes in a single test.

Restraints/Challenges

• Risk associated with sequencing

The easy availability of substitutes, combined with unfavourable government policies and the risk associated with sequencing, are likely to hamper the growth of the third generation sequencing market during the forecast period. The biggest challenge to market growth will be the economy's recession, combined with rising competition among competitors.

This third generation sequencing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the third generation sequencing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Third Generation Sequencing Market Scope

The third generation sequencing market is segmented on the basis of type, application,. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Single Molecule Real Time (SMRT) DNA Sequencing
• Nanopore-based Single-Molecule Analysis Technology
• Other

Application

• Genome Sequencing
• Methylation Studies
• Single Nucleotide Polymorphisms (SNP) Detection

Third Generation Sequencing Market Regional Analysis/Insights

The third generation sequencing market is analyzed and market size insights and trends are provided by country, type, application, as referenced above.

The countries covered in the third generation sequencing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the third generation sequencing market because of the high prevalence of breast cancer patients.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 owing to the focus of various established market players to expand their presence in this particular region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The third generation sequencing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for third generation sequencing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the third generation sequencing market. The data is available for historic period 2011-2021.

Competitive Landscape and Third Generation Sequencing Market Share Analysis

The third generation sequencing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to third generation sequencing market.

Some of the major players operating in the third generation sequencing market are:

• Thermo Fisher Scientific, Inc. (U.S.)
• Illumina, Inc. (U.S.)
• QIAGEN(Germany)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Oxford Nanopore Technologies Ltd. (U.K.)
• Macrogen, Inc. (South Korea)
• Perkin Elmer, Inc. (U.S.)
• Pacific Biosciences of California, Inc. (U.S.)
• BGI (China)
• Bio-Rad Laboratories, Inc. (U.S.)
• Myriad Genetics (U.S.)
• Agilent Technologies, Inc. (U.S.)