Nanopore Sequencing Market Explores New Growth Opportunities at a CAGR of 26% till 2026
The Global Nanopore Sequencing Market valued at $200 million (2021) is set to witness a significant growth rate of 26% in the next 5 years. Some of the main factors propelling the Global Nanopore Sequencing Market is the advantages of nanopore sequencing such as high throughput & ultra-long reads, technological developments in nanopore technologies, growing prevalence of infectious diseases, and rising investments in R&D.
Advantages of nanopore sequencing technology fuels the Nanopore Sequencing Market Demand
Over the years, there has been a substantial growth in the acceptance of nanopore sequencing for research as well as clinical applications because of significant advantages of nanopores such as label-free & ultralong reads and high throughput.
Some of the main advantages boosting its demand are:
Long-read sequencing: The ability to produce ultra-long reads of over 2 Mb is a major advantage of nanopore sequencing. Longer read lengths are more likely to cover full regions of repeated sequence and structural variation, allowing for a more comprehensive understanding of genetic variants and the reconstruction of complex genomes
Targeted sequencing: For nanopore sequencing, a variety of targeted sequencing approaches, such as targeted panels and whole exome enrichment, are available, leveraging both PCR- and hybrid capture-based targeted enrichment strategies
Rapid results: Unlike traditional sequencing approaches, which need analysis after sequencing is completed, nanopore sequencing allows for early insights to be gained as soon as the sequencing process begins
Low cost of sequencer: High-end sequencers from Illumina and PacBio are priced over $950k and $450k respectively which are too expensive as compared to the GridION nanopore-based sequencer offered by Oxford Nanopore Technologies at $49k
Increasing clinical applications: Nanopore sequencing is widely used for pathogen analysis such as outbreak surveillance of infectious diseases such as tuberculosis, Ebola, Zika, dengue fever, and Covid19, among others. Nanopore sequencing is also widely used by researchers and clinicians for cancer genomics and genetic disease diagnosis.
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Partnerships and acquisition to increase adoption and co-develop advanced solutions
The nanopore sequencing market has witnessed a number of partnerships and acquisition by market players to either improve the acceptance of this technology for clinical applications or to co-develop advanced sequencing platforms.
The following is a list of some of the strategic initiatives that boost the adoption of nanopore sequencing:
In April 2022, Oxford Nanopore Technologies collaborated with Genomics England to evaluate the benefits of sequencing for enhancing patient care and advancing research activities for the development of novel treatments on a larger scale using nanopore sequencing technology
In September 2021, Oxford Nanopore Technologies collaborated with Oracle to explore novel applications of genomic sequencing using the Oracle Cloud Infrastructure (OCI) to speed-up discovery of medical innovations
In August 2020, Oxford Nanopore Technologies entered into an agreement with the UK’s Department of Health and Social Care, to roll out its LamPORE SARS-CoV-2 tests at a number of NHS testing laboratories
In May 2020, F. Hoffmann-La Roche Ltd acquired Stratos Genomics, a US based fourth-generation genetic sequencing company, to advance the development of nanopore sequencer for diagnostic applications with the combination of electronics and biological components
Competitive Landscape Analysis of Nanopore Sequencing Market
The global nanopore sequencing market is marked by the presence of key players such as Oxford Nanopore Technologies (UK), Stratos Genomics, a Roche company (US), BaseClear B.V. (Netherlands), CD Genomics (US), and others.
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