Third Generation Sequencing Market Size and Scope 2026 to 2035
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Global 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 to 2034.
Third Generation Sequencing Market Size, Share & Trends Analysis Report by Type of Technology (Single-molecule real-time (SMRT) Sequencing, Nanopore Sequencing, Others), By Product (Instruments, Reagents And Consumables, Services), By Application (Genome Sequencing, Epigenetics, Transcriptomics, Metagenomics, Others), By End User, Region And Segment Forecasts, 2026 to 2035
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.
| Report Attribute | Specifications |
| Market Size Value In 2024 | USD 11.3 Bn |
| Revenue Forecast In 2034 | USD 40.7 Bn |
| Growth Rate CAGR | CAGR of 13.8% from 2025 to 2034 |
| Quantitative Units | Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
| Historic Year | 2021 to 2024 |
| Forecast Year | 2025-2034 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | Type Of Technology, Product, Application, And End User |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; South Korea; South East Asia |
| 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. |
| Customization Scope | Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
| Pricing and Available Payment Methods | Explore pricing alternatives that are customized to your particular study requirements. |
This study employed a multi-step, mixed-method research approach that integrates:
This approach ensures a balanced and validated understanding of both macro- and micro-level market factors influencing the market.
Secondary research for this study involved the collection, review, and analysis of publicly available and paid data sources to build the initial fact base, understand historical market behaviour, identify data gaps, and refine the hypotheses for primary research.
Secondary data for the market study was gathered from multiple credible sources, including:
These sources were used to compile historical data, market volumes/prices, industry trends, technological developments, and competitive insights.
Primary research was conducted to validate secondary data, understand real-time market dynamics, capture price points and adoption trends, and verify the assumptions used in the market modelling.
Primary interviews for this study involved:
Interviews were conducted via:
Primary insights were incorporated into demand modelling, pricing analysis, technology evaluation, and market share estimation.
All collected data were processed and normalized to ensure consistency and comparability across regions and time frames.
The data validation process included:
This ensured that the dataset used for modelling was clean, robust, and reliable.
The bottom-up approach involved aggregating segment-level data, such as:
This method was primarily used when detailed micro-level market data were available.
The top-down approach used macro-level indicators:
This approach was used for segments where granular data were limited or inconsistent.
To ensure accuracy, a triangulated hybrid model was used. This included:
This multi-angle validation yielded the final market size.
Market forecasts were developed using a combination of time-series modelling, adoption curve analysis, and driver-based forecasting tools.
Given inherent uncertainties, three scenarios were constructed:
Sensitivity testing was conducted on key variables, including pricing, demand elasticity, and regional adoption.