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Third Generation Sequencing Market Size is valued at USD 11.3 billion in 2024 and is predicted to reach USD 40.7 billion by the year 2034 at a 13.8% CAGR during the forecast period for 2025-2034.
Third-generation sequencing (also known as long-read sequencing) is a type of DNA sequencing method currently being researched. Third-generation sequencing technology can generate much longer reads than second-generation sequencing, also known as next-generation sequencing. Such a benefit has far-reaching ramifications for genomic science and the study of biology in general.
Third-generation sequencing data, on the other hand, have substantially larger error rates than prior technologies, which can hamper downstream genome assembly and data interpretation. These technologies are actively being developed, and it is believed that the high mistake rates will be reduced. Third-generation sequencing has outperformed conventional approaches for applications more tolerant of error rates, such as structural variant calling, even at a modest depth of sequencing coverage.
TGS technologies provide much longer read lengths than typical second-generation sequencing methods. This allows researchers to collect more comprehensive and precise genetic data, such as the ability to sequence large repetitive areas, structural variants, and complicated genomes. TGS platforms support real-time sequencing, allowing researchers to view the sequencing process as it occurs. This capability allows for rapid data creation and processing, useful for applications such as infectious disease surveillance, viral outbreak monitoring, and time-sensitive clinical diagnostics.
However, TGS technologies are more expensive than typical second-generation sequencing procedures. The expensive cost of instruments, consumables, and data processing might impede wider adoption, especially for smaller research institutes and clinical laboratories with restricted resources.
The Third Generation Sequencing market is segmented based on the type of technology, product, Application, and end user. Based on the Type of Technology, the market is segmented into single-molecule real-time (SMRT) sequencing, nanopore sequencing, and others. By product, the market is segmented into instruments, reagents and consumables, and services. By Application, the market is divided into genome sequencing, epigenetics, transcriptomics, and metagenomics. End User divides the market into academic and research institutes, pharmaceutical and biotechnology companies, hospitals and clinics, and contract research organizations (CROs).
The single-molecule real-time (SMRT) sequencing category will hold a major share of the global Third Generation Sequencing market in 2022. The market domination can be attributed to several factors, including high consensus accuracy due to minimal systematic bias and longer read lengths.
The single-molecule real-time (SMRT) sequencing segment is a core technology that powers PacBio's long-read sequencing platforms. Pac Biolong-read SMRT Sequencing technique also provides other advantages, including that no PCR amplification is required during the sample preparation step, and the read length is 100 times longer than that of 2nd generation NGS methods. As a result, researchers use it to span repeated genomic regions and build genomes.
The reagents and consumables segment is projected to grow rapidly in the global Third Generation Sequencing market Because sequencing is an important part of the process. Furthermore, sequencing is a capital-intensive technique that earns more than other operations. The amount of data created from sequencing programs is predicted to expand as whole genome sequencing (WGS) use grows.
The North American Third Generation Sequencing market is expected to register the highest market share in revenue shortly. This has been a key market for TGS technologies, owing to large investments in genomics research, medical developments, and the presence of big sequencing firms. Factors such as rising chronic and infectious illness prevalence, increased genomics spending, and rising advances by leading industry participants likely drive market expansion.
In addition, The adoption of long-read sequencing techniques across medical diagnostic centers, biotechnology laboratories, forensic labs, virology research labs, and academic-level research in Europe, as well as combined initiatives of the European Union for R&D projects related to genomics and many developed countries in Europe, can be attributed to Europe's market growth.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 11.3 Bn |
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Revenue Forecast In 2034 |
USD 40.7 Bn |
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Growth Rate CAGR |
CAGR of 13.8% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Type Of Technology, Product, Application, And End User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; South Korea; South East Asia |
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Competitive Landscape |
Pacific Biosciences of California, Inc., Oxford Nanopore Technologies, Ltd., BGI Genomics Co., Ltd., F. Hoffmann-La Roche AG, Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., Agilent Technologies, Inc., GenapSys Inc., Loop Genomics, Nabsys, Inc., Genia Technologies, Inc., Stratos Genomics, Inc., GATC Biotech AG, Phase Genomics, Inc. |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Third Generation Sequencing Market Snapshot
Chapter 4. Global Third Generation Sequencing Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis of Metaverse Industry
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. COVID-19 Impact on Metaverse Industry
Chapter 5. Market Segmentation 1: By Technology Estimates & Trend Analysis
5.1. By Technology & Market Share, 2024-2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Technology:
5.2.1. Single-Molecule Real-Time (SMRT) Sequencing
5.2.2. Nanopore Sequencing
5.2.3. Others
Chapter 6. Market Segmentation 2: By Product Estimates & Trend Analysis
6.1. By Product & Market Share, 2024-2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Product:
6.2.1. Instruments
6.2.2. Reagents and Consumables
6.2.3. Services
Chapter 7. Market Segmentation 3: By Application Estimates & Trend Analysis
7.1. By Application & Market Share, 2024-2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Application:
7.2.1. Genome Sequencing
7.2.2. Epigenetics
7.2.3. Transcriptomics
7.2.4. Metagenomics
7.2.5. Others
Chapter 8. Market Segmentation 4: By End-User Estimates & Trend Analysis
8.1. By End-User & Market Share, 2024-2034
8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By End-User:
8.2.1. Academic and Research Institutes
8.2.2. Pharmaceutical and Biotechnology Companies
8.2.3. Hospitals and Clinics
8.2.4. Contract Research Organizations (CROs)
8.2.5. Others
Chapter 9. Third Generation Sequencing Market Segmentation 5: Regional Estimates & Trend Analysis
9.1. North America
9.1.1. North America Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Technology, 2021-2034
9.1.2. North America Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Product, 2021-2034
9.1.3. North America Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
9.1.4. North America Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By End-User, 2021-2034
9.1.5. North America Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts by country, 2021-2034
9.1.5.1. U.S.
9.1.5.2. Canada
9.2. Europe
9.2.1. Europe Third Generation Sequencing Market revenue (US$ Million) by By Technology, 2021-2034
9.2.2. Europe Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Product, 2021-2034
9.2.3. Europe Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
9.2.4. Europe Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By End-User, 2021-2034
9.2.5. Europe Third Generation Sequencing Market revenue (US$ Million) by country, 2021-2034
9.2.5.1. Germany
9.2.5.2. Poland
9.2.5.3. France
9.2.5.4. Italy
9.2.5.5. Spain
9.2.5.6. UK
9.2.5.7. Rest of Europe
9.3. Asia Pacific
9.3.1. Asia Pacific Third Generation Sequencing Market revenue (US$ Million) by By Technology, 2021-2034
9.3.2. Asia Pacific Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Product, 2021-2034
9.3.3. Asia Pacific Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
9.3.4. Asia Pacific Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By End-User, 2021-2034
9.3.5. Asia Pacific Third Generation Sequencing Market revenue (US$ Million) by country, 2021-2034
9.3.5.1. China
9.3.5.2. India
9.3.5.3. Japan
9.3.5.4. Australia
9.3.5.5. Rest of Asia Pacific
9.4. Latin America
9.4.1. Latin America Third Generation Sequencing Market revenue (US$ Million) by By Technology, 2021-2034
9.4.2. Latin America Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Product, 2021-2034
9.4.3. Latin America Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
9.4.4. Latin America Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By End-User, 2021-2034
9.4.5. Latin America Third Generation Sequencing Market revenue (US$ Million) by country, (US$ Million) 2021-2034
9.4.5.1. Brazil
9.4.5.2. Rest of Latin America
9.5. Middle East & Africa
9.5.1. Middle East & Africa Third Generation Sequencing Market revenue (US$ Million) by By Technology, 2021-2034
9.5.2. Middle East & Africa Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Product, 2021-2034
9.5.3. Middle East & Africa Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
9.5.4. Middle East & Africa Third Generation Sequencing Market revenue (US$ Million) estimates and forecasts By End-User, 2021-2034
9.5.5. Middle East & Africa Third Generation Sequencing Market revenue (US$ Million) by country, (US$ Million) 2021-2034
9.5.5.1. South Africa
9.5.5.2. GCC Countries
9.5.5.3. Rest of MEA
Chapter 10. Competitive Landscape
10.1. Major Mergers and Acquisitions/Strategic Alliances
10.2. Company Profiles
10.2.1. Genomics, Inc.,
10.2.2. GenapSys Inc.,
10.2.3. GATC Biotech AG,
10.2.4. Stratos Genomics, Inc.,
10.2.5. Genia Technologies, Inc.,
10.2.6. Nabsys, Inc.,
10.2.7. Loop Genomics,
10.2.8. Agilent Technologies, Inc.,
10.2.9. QIAGEN N.V.,
10.2.10. Illumina, Inc.,
10.2.11. F. Hoffmann-La Roche AG,
10.2.12. BGI Genomics Co., Ltd.,
10.2.13. Oxford Nanopore Technologies, Ltd.,
10.2.14. Thermo Fisher Scientific Inc.,
10.2.15. Pacific Biosciences of California, Inc
Third Generation Sequencing Market By Type of Technology -
Third Generation Sequencing Market By Product -
Third Generation Sequencing Market By Application -
Third Generation Sequencing Market By End User -
Third Generation Sequencing Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
