Nanopore Sequencing Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Product (Instruments, and Consumables), By Nanopore Type (Solid, Biological, Hybrid), By Application (Human Genomics, Clinical Research, Plant Research, Microbiology, and Animal Research), By End User (Pharma, Biotech, Academic & Research) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global Nanopore Sequencing Market was valued at USD 238.7 Million in 2022 and is anticipated to reach a value of USD 671.2 Million by 2030 expanding at a CAGR of 14.0% between 2023 and 2030.

Nanopore sequencing is unique and scalable technology used to read DNA and RNA molecules that offers real-time analysis. This sequencing involves reading the code of single DNA strands as they are passed through extremely tiny pores embedded within a membrane. Nanopore sequencing is only sequencing technology that offers direct, real-time analysis of long DNA or RNA fragments. It is a unique technique as it doesn’t require the DNA to be broken into fragments unlike traditional sequencing process. Nanopore sequencing is a third-generation technique utilized for the sequencing of biopolymers along with other components. Nanopore sequencing technology offers has several advantages including direct RNA sequencing, long-read sequencing, targeted sequencing, rapid results, lower cost, real-time sequencing, and portability. It is widely used in various applications such as genomics research, clinical diagnostics, environmental monitoring, plant research, microbiology, and animal research. The nanopore sequencing market is experiencing significant growth due to factors such as increase in demand for DNA sequencing, technological advancement, partnerships and acquisitions, and rise in prevalence of genetic disorders.

Nanopore Sequencing Market Major Driving Forces

Increase in Demand for DNA Sequencing: The increase in demand for DNA sequencing across various research applications is driving the adoption of nanopore sequencing. Nanopore sequencing allows real-time analysis of DNA, RNA and other biomolecules and is increasingly used in genomics, genetics, and more.

Technological Advancement: The continuous advancement of nanopore sequencing technology is further expanding its applications. Nanopore technology offers improved accuracy, longer read lengths, and lower sequencing costs which making it more attractive to researchers. Continuous improvements make it a valuable tool for scientists seeking comprehensive genetic insights and real-time data.  

Partnerships and Acquisitions: The rapidly growing nanopore sequencing market has seen numerous strategic partnerships and acquisitions among key market players. These partnerships aim to foster the development of advanced sequencing platforms and boost adoption of this cutting-edge technology for clinical applications.

Rise in Prevalence of Genetic Disorders: The rise in prevalence of genetic disorders across the globe is one of the major factors driving the growth of nanopore sequencing market. The growing demand for long read sequencing technologies for DNA and RNA sequencing is driving the adoption of nanopore sequencing due to its benefits.  

Nanopore Sequencing Market Key Opportunities

Introduction of Internet of Things (IoT): The introduction of internet of things (IoT) has tremendously benefited nanopore sequencing technology. IoT has improved nanopore technology by allowing sequencers to be connected to cloud computing labs, facilitating remote monitoring and data analysis. This advancement is expected to revolutionize genomics by expanding its applications to a wider range of needs.

Research and Development: The increase in research and development efforts focused on nanopore sequencing is expected to create significant opportunity for nanopore sequencing market. Continuous research and development for exploring new applications of nanopore sequencing. Intensive research and development efforts are continuously advancing nanopore sequencing technology.

Environmental Monitoring: Nanopore sequencing is a unique technology that enables comprehensive, real-time analysis of environmental samples including analysis of microbial communities in various ecosystems. Tracking biodiversity, studying microbial ecology, and water quality monitoring presents profitable opportunities for the market of nanopore sequencing.

Nanopore Sequencing Market Key Trends

·         Increasing use of nanopore sequencing for fourth generation DNA sequencing as nanopore technology is becoming more affordable

·         Continuous advancements in nanopore sequencing technology were enhancing its accuracy, and longer read lengths

·         Nanopore sequencers are becoming smaller and more portable, enabling on-site sequencing in remote locations and point-of-care applications

·         Introduction of IoT has improved nanopore technology by allowing sequencers to be connected to cloud computing labs, facilitating remote monitoring

·         The growing use of nanopore sequencing for environmental DNA analysis is an emerging trend accelerating market growth

·         Integrating artificial intelligence algorithms with nanopore sequencing analysis to improve read accuracy, and automation of complex tasks

Region-wise Market Insights

North America accounted for the largest market share at 39.2% in 2022 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 15.1% between 2023 and 2030.

In North America, the demand is driven by the growing demand for nanopore sequencing, rising incidences of viral diseases, and higher healthcare expenditure in the region. Additionally, the growing targeted patient population, favorable government policies for research in nanopore sequencing, and adoption of advanced technologies contribute to the market growth. European research institutions are actively involved in advancing the nanopore technology. In Asia-Pacific, the market is characterized by the large patient population, increasing number of hospitals equipped with nanopore technology modalities. Furthermore, the significant utilization of nanopore sequencing, growing interest in genomics research, rising geriatric population in the region contribute to the market growth. The Middle East and Africa has been witnessing a growing demand for nanopore sequencing, in South America, the market is influenced by adoption of advanced sequencing technologies, and increasing investment in healthcare infrastructure.

Market Competition Landscape

The global nanopore sequencing market is characterized by high degree of competition among a large number of manufacturers. Major players of market are investing heavily in technological advancement to develop more accurate, portable, smaller, and aster nanopore sequencers with long read capabilities. Key players in the nanopore sequencing market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, design differentiation, and the incorporation of sustainable and eco-friendly materials to meet evolving consumer preferences. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global nanopore sequencing market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Oxford Nanopore Technologies (ONT)

·         Illumina, Inc.

·         Thermo Fisher Scientific

·         Roche Holding AG

·         Becton, Dickinson, and Co.

·         PerkinElmer

·         Eurofins Scientific

·         Agilent Technologies, Inc.

·         BGI Genomics

·         Bio-Rad Laboratories, Inc.

·         Danaher Corporation

·         10X Genomics, Inc.

·         Macrogen Inc.

·         GENEWIZ

·         Siemens AG