Nanopore Sequencing Market to Grow at a Robust Rate of 15.29% during the Forecast Period
Advancing biotechnological research is driving the growth in Global Nanopore Sequencing Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Nanopore Sequencing Market By Product (Consumables v/s Instruments), By Nucleotide Sequenced (DNA v/s RNA), By Type (Direct Current Sequencing, Synthetic DNA and Horizontal Tunnelling Current Sequencing, Optical Reading Techniques Sequencing, Exonuclease Sequencing), By Type of Nanopore (Solid State, Biological, Hybrid), By Application (Human Genetics, Clinical Research, Plant Research, Microbiology, Animal Research), By End User (Biotechnology Companies, Clinical Laboratories, Academic & Research Institutes), By Region, Competition Forecast & Opportunities, 2026”, the global nanopore sequencing market stood at USD236.91 million in 2020 and is expected to grow at a robust rate of 15.29% during the forecast period on account of the widespread use of nanopore sequencing technology across various end user industry including healthcare, agriculture, food & water surveillance, among others.
Additionally, growing prevalence of rare diseases, diseases such as cancer, genetic disorders, among others has elevated increased the demand for different sequencing technologies especially the long-read sequencing technologies thereby fueling the market growth over the next few years. Also, the sudden outbreak and spread of pandemic COVID-19 across the globe witnessed the use of nanopore sequencing technology for the sequencing of coronavirus genome. This in turn is expected to positively influence the market growth through 2026. However, lack of awareness pertaining to nanopore sequencing is expected to restrict the market growth during the forecast period. Also, the availability of different sequencing technologies such as next generation sequencing and other long read sequencing technologies such as Single-Molecule Real-Time Sequencing (SMRT) can further slowdown the market growth.
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The global nanopore sequencing market is segmented by product, nucleotide sequenced, type, type of nanopore, application, end user, competitional landscape, and regional distribution. Based on nucleotide sequenced, the market is divided between DNA and RNA. The DNA segment dominated the market in 2020 with a share of around 59.23%. This can be ascribed to the widespread use of nanopore sequencing in DNA sequencing especially human genome. However, the demand for RNA sequencing is also expected to increase significantly on account of the extensive use of RNA sequencing in viral RNA sequencing. The use of nanopore sequencing in coronavirus genome sequencing is expected to support the segmental growth.
Major players operating in the global nanopore sequencing market include Oxford Nanopore Technologies Ltd, Illumnia, Inc., F Hoffmann-La Roche AG, 10X Genomics, Inc., Agilent Technologies Inc., NabSys, Inc., Sequenom, Inc., Quantapore, Inc, INanoBio Inc, Thermo Fischer Scientific, Inc., Cyclomics BV, CD Genomics, Electronic Biosciences, Inc., Easi-Genomics, among others. The players operating in the market are following strategies such as mergers & acquisitions, new product/technology development and launches in order to stay competitive in the market and having an edge over the competitors. For instance, in 2018, Illumina announced the acquisition of Pacific Biosciences. This acquisition led to the combination of both short-read and long-read sequencing technologies combination under a single platform. With this acquisition, Illumina will bring forth the best of both the sequencing technologies by providing integrated workflows. This will further help the company in gaining the attention of researchers looking for detailed genomic information.
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“North America is expected to dominate the overall nanopore sequencing technologies market during the forecast period on account of presence of major players operating in the industry such as Illumina, Roche, Agilent Technologies, among others in the region. Additionally, early adoption of technologies and higher R&D spending in the region is further expected to support the market growth. However, Europe will register the fastest growth owing to the growing popularity of the sequencing technology across different countries such as United Kingdom, Russia, Germany, Turkey, among others. Also, Oxford Nanopore Technologies is rapidly expanding its base across different countries in the region,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Nanopore Sequencing Market By Product (Consumables v/s Instruments), By Nucleotide Sequenced (DNA v/s RNA), By Type (Direct Current Sequencing, Synthetic DNA and Horizontal Tunnelling Current Sequencing, Optical Reading Techniques Sequencing, Exonuclease Sequencing), By Type of Nanopore (Solid State, Biological, Hybrid), By Application (Human Genetics, Clinical Research, Plant Research, Microbiology, Animal Research), By End User (Biotechnology Companies, Clinical Laboratories, Academic & Research Institutes), By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global nanopore sequencing and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global nanopore sequencing market.
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