According to the latest study on “Long Read Sequencing Market  Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Product, Application, Workflow, and End User,” the market was valued at US$ 1,101.15 million in 2020 and it is projected to reach US$ 5,334.68 million by 2028; it is expected to grow at a CAGR of 22.3% during 2021–2028. The report highlights trends prevailing in the global market, and drivers and restraints pertaining to the market growth. Factors such as the advantages of long read sequencing and increasing prevalence of chronic diseases fuel the growth of the long read sequencing market. However, the lack of skilled professionals hinders the market growth.

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Oxford Nanopore Technologies; Tataa Biocenter; Illumina, Inc; Perkinelmer Inc.; F. Hoffmann-La Roche Ltd.; Baseclear B.V.; Bionano Genomics; Longas Technologies; Pacific Biosciences of California, Inc.; and Quantapore, Inc are among the key players operating in the long read sequencing market. These companies focus on partnerships, mergers, product launches, and collaborations to sustain their positions in the market. For instance, in January 2021, Illumina Announced new sequencing system, collaboration with Roche, and software suite to accelerate genomics adoption. Furthermore, Roche will work with Illumina to add additional companion diagnostic (CDx) statements to Illumina's robust pan-cancer assay TruSight Oncology 500 (TSO 500).

Based on technology, the long read sequencing market is segmented into single-molecule real-time sequencing (SMRT), nanopore sequencing, and loop genomics long read sequencing. In 2020, the single-molecule real time sequencing (SMRT) segment accounted for the largest share of the market.

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