Nanopore Sequencing Market to Grow with a CAGR of 18.07% Globally through 2029
Surge in research and development activities is expected to drive the Global
Nanopore Sequencing Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “Nanopore
Sequencing Market - Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2029”, the Global Nanopore Sequencing Market
stood at USD 330.59 million in 2023 and is anticipated to grow with a CAGR of 18.07%
in the forecast period, 2024-2029. Initiatives taken by government based on nanopore
sequencing has led to favorable market conditions for the Global Nanopore
Sequencing Market. Several factors contribute to the growth of various nanopore
sequencing products.
The National Institutes of Health (NIH) in the United
States has recently awarded grants to support research focused on the
advancement and utilization of nanopore technology in DNA sequencing. These grants
aim to drive innovation and foster breakthroughs in the field, with the
ultimate goal of achieving even greater accuracy and efficiency in DNA
sequencing methodologies.
In a parallel effort, the National Institute of
Standards and Technology (NIST) has put forth a pioneering proposal for fast
and highly precise DNA sequencing using nanopore technology. The proposal
builds upon the remarkable performance of this cutting-edge technology,
showcasing an impressive 90% accuracy rate without any false positives. This
breakthrough paves the way for more reliable and robust DNA sequencing
techniques, revolutionizing the field of genomics and opening up new
possibilities for scientific discoveries and advancements in various domains.
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Genomic research plays a critical role in numerous
scientific disciplines, such as medicine, biology, and pharmaceuticals. It
involves the study of an organism's complete set of DNA, including all of its
genes and genetic material. The demand for detailed and accurate genomic
information has grown exponentially in recent years, driven by advancements in
technology and the increasing understanding of the role that genes play in
health and disease.
One significant driver of this demand is the field of
precision medicine. Precision medicine aims to provide personalized treatment
plans tailored to an individual's unique genetic makeup. By analyzing genomic
data, doctors can gain insights into a patient's specific genetic variations
and make more informed decisions about their treatment options. This
personalized approach has the potential to revolutionize healthcare by
improving patient outcomes and reducing adverse drug reactions.
As the demand for genomic information continues to
rise, so does the need for advanced sequencing technologies. Nanopore
sequencing, a cutting-edge technique, has gained significant attention in the
field of genomics. It offers several advantages, such as real-time sequencing
and the ability to directly detect modifications in DNA. The increased
investment in genomic research has directly propelled the growth of the
nanopore sequencing market, as scientists and researchers strive to unlock the
full potential of genomics.
The Global Nanopore Sequencing Market is segmented
into product, nucleotide sequenced, type, type of nanopore, application, end
user, regional distribution, and company.
Based on its product, the consumables segment held the
largest market share in the forecast period. Unlike instruments that are
typically one-time purchases, consumables such as reagents, flow cells, and
sequencing kits are recurring needs in the sequencing process. These
consumables play a crucial role by providing the necessary materials and
components required for each sequencing run. By regularly replenishing these
consumables, researchers can ensure the consistent and reliable performance of
their sequencing experiments, ultimately leading to accurate and meaningful
results.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
In the Asia-Pacific region, there is a rapidly growing
demand for nanopore sequencing, driven by its wide range of applications in
both medical and non-medical fields. Nanopore sequencing stands out with its
unique advantages, including real-time data analysis, the ability to generate
long-read sequences, and cost-effectiveness, making it an ideal choice for
various scientific endeavors. This groundbreaking technology proves
particularly valuable in the study of complex diseases, facilitating the
development of personalized medicines, as well as advancing environmental
research and exploration. With its diverse applications and potential, nanopore
sequencing is set to revolutionize the scientific landscape, opening new
avenues for discovery and innovation.
Major companies operating in Global Nanopore
Sequencing Market are:
- Oxford Nanopore Technologies plc
- Illumina, Inc
- Agilent Technologies, Inc
- Roche Sequencing Solutions, Inc. (F. Hoffmann-La Roche
Ltd)
- 10X Genomics Inc
- Nabsys, Inc
- Laboratory Corporation of America Holdings
- Quantapore Inc
- INanoBio Inc
- Electronic BioSciences, Inc.
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“Growing application of nanopore sequencing in various
end user industries are key drivers of the nanopore sequencing market. Growth
in competitive landscape and presence of well-established companies in the
market who are dedicated to enhance their productivity of nanopore sequencing
with every passing year are anticipated to register an impressive grow to Global
Nanopore Sequencing Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Global Nanopore Sequencing Market By Product (Consumables,
Instruments), By Nucleotide Sequenced (DNA, 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 Product (Consumables, Instruments), By
Nucleotide Sequenced (DNA, 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, By Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of Global Nanopore Sequencing Market 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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