THIRD GENERATION SEQUENCING MARKET ANALYSIS

Third Generation Sequencing MarketSize and Trends

The global Third Generation Sequencing market was valued at US$ 600.8 Mn in 2023 and is forecast to reach a value of US$ 2,297.3 Mn by 2030 at a CAGR of 21.1% between 2023 and 2030. The third-generation sequencing (TGS) market refers to the market for technologies and services related to third-generation sequencing platforms. These platforms offer advantages over traditional second-generation sequencing methods by providing longer read lengths, real-time sequencing capabilities, and the ability to directly sequence DNA or RNA molecules.

TGS technologies, such as Pacific Biosciences' Single Molecule Real-Time (SMRT) sequencing and Oxford Nanopore Technologies' nanopore sequencing, have gained significant attention in the field of genomics research, clinical diagnostics, and other applications. They enable researchers to obtain more comprehensive and accurate genomic information, which has implications for understanding genetic diseases, precision medicine, agricultural research, and environmental studies, among others.

Third Generation Sequencing Market Regional Insights

• North America, particularly the United States, has been a leading market for TGS technologies, driven by significant investments in genomics research, advancements in healthcare, and the presence of major sequencing companies. For instance, in September 2022, The Centers for Disease Control and Prevention (CDC), the U.S. national public health organization, announced 5-year grants to five state public health departments. The Pathogen Genomics Centers of Excellence (PGCoE) network will be established as a result of the awards. The goal of the PGCoE network is to develop and improve innovation and technological capability in pathogen genomics, molecular epidemiology, and bioinformatics in order to better prevent, regulate, and respond to microbial threats to public health.
• Europe: European countries have also been active in the TGS market. Countries like the United Kingdom, Germany, and France have made significant investments in genomics research and are home to prominent academic and research institutions. The European Union has supported genomics initiatives, which have fostered the development and adoption of TGS technologies.
• Asia Pacific has emerged as a rapidly growing market for TGS technologies. Countries such as China, Japan, and South Korea have made substantial investments in genomics research and have a growing biotechnology industry. These factors contribute to the increasing adoption of TGS platforms and the development of regional market opportunities.

Figure 1. Global Third Generation Sequencing Market Share (%), by Region, 2023

Third Generation Sequencing Market Trends:

• Technology Advancements: TGS technologies are continuously evolving, with ongoing advancements in sequencing chemistry, instrument performance, and data analysis tools. These advancements aim to improve accuracy, read lengths, sequencing speed, and cost-effectiveness of TGS platforms. Trends include the development of novel sequencing chemistries, miniaturization of sequencing devices, and improved base-calling algorithms.
• Increasing Adoption of TGS Platforms: The adoption of TGS platforms has been steadily increasing across various industries and research fields. Researchers and healthcare professionals are recognizing the benefits of long-read sequencing and real-time sequencing capabilities offered by TGS technologies. As the technologies become more established and accessible, their adoption is expected to continue to grow. According to an article published by Science X, one of the largest online communities for science-related topics, an international consortium of scientists proposed the Earth BioGenome Project in April 2018 to understand the evolution and organization of life on our planet by sequencing and functionally annotating the genomes of 1.5 million known species of eukaryotes, a massive group that includes plants, animals, fungi, and other organisms whose cells have a nucleus that houses their chromosomal DNA.
• Expansion of Applications: TGS technologies are finding applications in an expanding range of fields beyond genomics research. This includes clinical diagnostics, precision medicine, agriculture, environmental studies, and more. The ability to generate long-read sequences and capture complex genomic information opens up new possibilities and drives the exploration of diverse applications. For instance, on October 6, 2023, following three years of study and testing of PacBio HiFi sequencing, the research team at Children's Mercy Kansas City, a healthcare center in Kanas, U.S., is bringing long read sequencing to clinical care. The transition is expected to shorten the diagnosis journey for critically ill patients and their families.
• Integration with Existing Workflows: TGS platforms are increasingly being integrated into existing sequencing workflows and laboratory protocols. This includes complementing second-generation sequencing methods, leveraging the strengths of both technologies, and enabling comprehensive genomic analyses. Integrating TGS into established workflows improves efficiency and facilitates the adoption of TGS technologies in research and clinical settings.