Third Generation Sequencing Market is Estimated to Witness High Growth Owing to Opportunity in Genome Mapping

Global Third Generation Sequencing Market Size
Global Third Generation Sequencing Market Size



Third generation sequencing, also known as single molecule real-time sequencing, enables the sequencing of entire genomes without reliance on amplification which allows direct observation of biological processes. It provides long reads and faster sequencing that enables novel applications like phased diploid genome assemblies and structural variation detection. Third generation sequencing has revolutionized fields like human genetics, cancer genomics and molecular pathology.

 

The global third generation sequencing market is estimated to be valued at US$ 11.64 Mn  in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Opportunity in Genome Mapping

Third generation sequencing allows accurate, long-read sequencing essential for mapping complex genomic regions that were difficult to assemble before. Its ability to generate very long reads of up to 2,00,000 base pairs enables phased diploid genome assemblies which provides a more complete picture of structural variations. This has huge potential in advancing genome mapping projects around the world. Currently, only a small fraction of human genomes have been fully mapped due to limitations of short-read sequencing. Increased adoption of third generation sequencing can help accelerate genome mapping initiatives and progress research in polygenic diseases, genome evolution and genetics of complex traits.

Porter's Analysis
Threat of new entrants: Low economies of scale in R&D and capital requirements pose entry barriers for new players.

Bargaining power of buyers: Buyers have moderate to high bargaining power due to the availability of alternative treatment options. However, demand for personalized therapeutics is increasing bargaining power.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the availability of substitutes and dominance of few major players controlling significant market share.

Threat of new substitutes: Threat of substitutes is moderate as researchers are continuously developing newer and advanced treatment options.

Competitive rivalry: Intense due to the few major players investing heavily in R&D to gain market share through new product launches and strategic collaborations.

SWOT Analysis
Strengths: Rising incidence of chronic diseases, increased healthcare spending, technological advancements.

Weaknesses: High R&D costs, lack of skilled professionals, ethical issues regarding human gene editing.

Opportunities:Growing applications in oncology, increasing demand for personalized medicine, collaborations and partnerships.

Threats: Stringent regulatory frameworks, reimbursement issues, treatment alternatives.

Key Takeaways

Global Third Generation Sequencing Market Size  is expected to witness high growth at a CAGR of 4.6% during the forecast period of 2024-2030.

North America is currently dominating the market owing to presence of advanced healthcare infrastructure, rising prevalence of chronic diseases and availability of research funding. Asia Pacific region is anticipated to grow at the fastest rate during the forecast period.

Key players operating in the third generation sequencing market are Pfizer, Inc., F. Hoffmann-La Roche Ltd, Takeda Pharmaceutical Company Limited, Regeneron Pharmaceuticals Inc., Sanofi, Amgen Inc. These major players are focusing on new product launches, acquisitions and collaborations to enhance their market share. For instance, in 2021 Roche acquired its subsidiary Foundation Medicine for $2.4 billion to strengthen oncology diagnostics portfolio.

 

Get More Insights On This Topic: https://www.newsstatix.com/the-third-generation-sequencing-market-is-expected-to-be-flourished-by-growth/

 

Explore More Article: https://masstamilan.tv/combine-harvesters-the-machines-that-revolutionized-farming/

Post a Comment

Previous Post Next Post