Third Generation Sequencing

Global Third Generation Sequencing Market to Reach US$2.5 Billion by 2030

The global market for Third Generation Sequencing estimated at US$785.8 Million in the year 2024, is expected to reach US$2.5 Billion by 2030, growing at a CAGR of 21.2% over the analysis period 2024-2030. Products, one of the segments analyzed in the report, is expected to record a 22.8% CAGR and reach US$1.8 Billion by the end of the analysis period. Growth in the Services segment is estimated at 17.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$206.6 Million While China is Forecast to Grow at 20.0% CAGR

The Third Generation Sequencing market in the U.S. is estimated at US$206.6 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$380.2 Million by the year 2030 trailing a CAGR of 20.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 19.6% and 18.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.4% CAGR.

Global "Third Generation Sequencing" Market – Key Trends & Drivers Summarized

What Sets Third Generation Sequencing Apart in the Era of Genomic Precision?
Third Generation Sequencing (TGS) technologies have redefined the landscape of genomic analysis by offering long-read, single-molecule sequencing without the need for amplification. This evolution from earlier sequencing technologies has profound implications for biological research, clinical diagnostics, agriculture, and evolutionary science. Unlike second-generation methods, which rely heavily on short reads and error-prone amplification processes, TGS platforms such as Pacific Biosciences’ SMRT and Oxford Nanopore’s MinION deliver ultra-long reads with higher fidelity across complex genomic regions, including repetitive sequences, structural variants, and epigenetic modifications. These capabilities are critical for assembling complete genomes de novo, especially in previously intractable areas like plant genomes, rare disease genetics, and cancer heterogeneity. Researchers are also applying TGS to transcriptomics for full-length mRNA sequencing, allowing for accurate detection of alternative splicing and isoform expression. Additionally, TGS offers real-time sequencing, enabling rapid turnaround times critical during infectious disease outbreaks and for applications in pathogen surveillance and biosecurity. The ability to directly read RNA and detect methylation patterns during sequencing positions TGS as a transformative technology in both foundational research and clinical practice.

Is Real-Time and Portable Sequencing the Future of Genomic Diagnostics?
Portability and real-time analysis are hallmarks of TGS platforms, offering unmatched flexibility in both clinical and field environments. Devices like the Oxford Nanopore MinION are compact enough to fit in a pocket yet powerful enough to perform complex genomic sequencing on-site—be it a remote village, a battlefield, or a space station. This has enormous implications for public health, epidemiology, and personalized medicine. In clinical diagnostics, real-time sequencing enables faster pathogen identification, crucial in sepsis management, hospital-acquired infections, and cancer profiling. During the COVID-19 pandemic, TGS platforms were deployed globally for real-time viral genome tracking, showcasing their value in monitoring mutations and guiding public health responses. In forensic science, TGS offers new dimensions of accuracy and comprehensiveness for DNA profiling. Portable platforms are also enabling agricultural scientists to monitor plant and animal genomes in the field, aiding in real-time breeding decisions, disease detection, and bioengineering. This mobility—combined with real-time data output—greatly reduces the need for centralized laboratories, making advanced sequencing accessible even in resource-limited settings and opening the door to decentralized, rapid, and data-rich diagnostics.

What Are the Technological Advancements Driving Adoption of Third Generation Sequencing?
The progress in TGS is driven by a convergence of improvements in molecular biology, bioinformatics, and instrument engineering. Key developments include increased throughput, reduced error rates, and enhanced basecalling algorithms that now allow TGS platforms to rival second-generation accuracy while preserving the advantages of long reads. The introduction of new enzyme chemistries, pore designs, and signal processing methods has improved read lengths and speed, while simultaneously lowering costs per base. Bioinformatics tools have also advanced, offering scalable solutions to handle the vast and complex datasets generated by TGS, with cloud-based platforms facilitating real-time genomic data analysis and sharing. Multiplexing capabilities are expanding, allowing researchers to sequence multiple samples concurrently without compromising accuracy. Additionally, innovations in sample preparation and automation are reducing hands-on time and contamination risks. The open-platform nature of some TGS tools has encouraged broad academic and industrial collaboration, accelerating discovery and customization for specific applications. This technological momentum is positioning TGS not just as a replacement for older methods, but as a versatile enabler of cutting-edge research and commercial breakthroughs across a spectrum of scientific disciplines.

The Growth in the Third Generation Sequencing Market Is Driven by Several Factors…
The rapid expansion of the third generation sequencing market is being fueled by a combination of technological, application-specific, and behavioral dynamics. In the healthcare sector, the increasing demand for precision diagnostics and personalized treatment plans is necessitating sequencing tools capable of detecting complex structural variations, rare mutations, and epigenetic markers—capabilities where TGS outperforms conventional methods. In oncology, real-time and comprehensive sequencing is accelerating the shift toward individualized cancer therapies. In infectious disease surveillance, TGS enables near-instantaneous genomic analysis of pathogens, a need that has become especially urgent with the rise of emerging and antibiotic-resistant strains. In agriculture, the push for food security and genetically optimized crops is spurring adoption of TGS in plant and animal genomics. Furthermore, the growing popularity of direct-to-consumer genetic testing is driving interest in more comprehensive sequencing technologies that offer deeper insights. Academic institutions and biotech startups are increasingly incorporating TGS platforms into their research infrastructures, reflecting a broader transition to high-resolution, high-throughput genomic science. The decentralization of sequencing—empowered by portable devices—is also transforming user behavior, encouraging point-of-care diagnostics and democratized data access. These technology-driven and end-use-specific dynamics are collectively propelling the market’s robust growth trajectory.

SCOPE OF STUDY:

The report analyzes the Third Generation Sequencing market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Component (Products, Services); Technology (Single-molecule Real-time Sequencing, Nanopore Sequencing, Synthetic Long-read Sequencing); Application (Genome Sequencing, Epigenetics, Transcriptomics, Metagenomics, Other Applications); End-User (Biopharmaceutical Companies, Hospitals & Clinics, Contract Research Organizations, Other End-Users)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 34 Featured) -

• 10x Genomics
• Agilent Technologies, Inc.
• BGI Genomics Co., Ltd.
• Complete Genomics, Inc.
• Element Biosciences, Inc.
• Eurofins Scientific
• F. Hoffmann-La Roche AG
• GATC Biotech AG
• GenapSys, Inc.
• Genia Technologies, Inc.
• Illumina, Inc.
• Loop Genomics
• Nabsys, Inc.
• Oxford Nanopore Technologies
• Pacific Biosciences of California, Inc.
• PerkinElmer, Inc.
• Phase Genomics, Inc.
• QIAGEN N.V.
• Stratos Genomics, Inc.
• Thermo Fisher Scientific Inc.

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