Global Nanopore Sequencing Market Report and Forecast 2024-2032

Nanopore Sequencing Market Size 

The global nanopore sequencing market was valued at USD 271.64 million in 2023 driven by rising technical advancements in the healthcare domain across the globe. The market is expected to grow at a CAGR of 11.2% during the forecast period 2024-2032 and attain a market value of USD 706.21 million by 2032.

Nanopore Sequencing Market Outlook

• In March 2024, Oxford Nanopore Technologies introduced the PromethION 2 Integrated (P2i) as a new addition to its PromethION series. New product launches and product portfolio diversification by key companies is one of the major market trends.

• In October 2023, bioMérieux SA invested EUR 70 million in Oxford Nanopore Technologies to create novel clinical tests for cancer and genetic disorders. The market growth is driven by increasing investments in the domain.

• In 2023, Cyclomics and Oxford Nanopore Technologies introduced a novel research method known as the ‘liquid biopsy’ workflow that utilizes nanopore sequencing to identify cancer-related molecules present in circulating blood. Technical advancements are expected to elevate market value in the forecast period.

Nanopore Sequencing Market Overview

Nanopore sequencing is a method for sequencing DNA that involves reading DNA sequences directly as they pass through tiny nanopores. This technique includes identifying variations in electric flow while the DNA passes through the nanopore, which enables sequencing in real-time and the capability to sequence lengthy DNA sections. In contrast to conventional techniques that need amplification and generate brief reads, nanopore sequencing allows for a more thorough understanding of the genome through uninterrupted and direct reading of nucleotide sequences. This technology has progressed genomics by understanding genetic variation, mutations, and complex genomes.

Nanopore sequencing provides advantages such as reading lengthy DNA fragments, acquiring data in real time, and direct sequencing without amplification. This leads to increased precision, decreased prejudice, and a thorough genome span. The technology can be used in different fields such as environmental monitoring and cancer genomics owing to its versatility and flexibility.

Advancements in nanopore sequencing technology have resulted in more effective devices with improved resolution. Enhanced nanopore filters, algorithm improvements, and smaller sequencers have boosted both precision and processing speed. Software and computational instruments have enhanced data analysis, leading to a more accurate interpretation of genomics. Mobile and affordable sequencers have increased the availability of the technology for fieldwork and on-site analysis, broadening its application in research and clinical environments.

Nanopore Sequencing Market Growth Drivers

Rising Government and Private Funding Spurs Market Growth

Government and private funding are fueling market expansion. The reason for the additional funding is the acknowledgement of the technology's potential in genomics research and personalized medicine. Advances in sequencing technology are being supported by public grants and investments from the private sector, improving accuracy, efficiency, and accessibility. In October 2023, bioMérieux SA invested EUR 70 million in Oxford Nanopore Technologies. The French company specializing in in vitro diagnostics collaborated with Oxford Nanopore to create novel clinical tests for cancer and genetic disorders. The funding was aimed at enhancing nanopore-based molecular sensing technology for in vitro diagnostics, bolstering the positions of both companies in the industry.

Technological Advancements to Boost the Global Nanopore Sequencing Market Demand

The global nanopore sequencing market is experiencing increased demand due to technological advancements, which provide distinct benefits compared to traditional techniques. Advancements in both sensors and algorithms have enhanced speed, scalability, and cost efficiency, making them more accessible for research and clinical use. For instance, in March 2024, Oxford Nanopore Technologies introduced the PromethION 2 Integrated (P2i) as a new addition to its PromethION series. The P2i includes internal processing and analysis after the run, decreasing dependence on external tools. The P2i builds upon the success of the P2 Solo, which launched in October 2022.  It provides long-read sequencing through real-time data analysis, enabling researchers to sequence large genomes and transcriptomes more efficiently.

Nanopore Sequencing Market Trends

The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:

Miniaturization and Portability

Nanopore sequencers are becoming more compact and portable, allowing sequencing to be done in different places. Researchers are aiming to reduce the size by making electronics smaller, enhancing heat control, and optimizing power usage. These devices must be durable enough to endure tough conditions such as changes in temperature and impacts.

Use Of Nanopore Sequencing for Fourth-Generation DNA Sequencing

Market growth is anticipated to be propelled by the increasing popularity of nanopore sequencing in DNA analysis. Fourth-generation nanopore sequencers provide fast and affordable whole genome sequencing, transforming the field of genomics. Healthcare professionals are utilizing this technology because of its pace, precision, and cost-effectiveness. Nanopore sequencing could revolutionize genetic research, personalized medicine, and disease diagnosis, resulting in more focused treatments. With the rise in adoption, genomics and biotechnology companies can anticipate substantial growth in the market.

Partnerships and Acquisition to Boost Adoption 

Key players in the market are collaborating to progress the technology for clinical applications and developing innovative sequencing platforms. These partnerships are focused on maximizing the capabilities of nanopore sequencing, pushing genomic research, precision medicine, and personalized treatments to new levels. Strategic partnerships play a crucial role in driving advancements in the industry, expediting research, and improving patient outcomes.

Introduction of the Internet of Things (IoT)

IoT has improved nanopore technology by enabling a seamless connection between sequencers and other systems, allowing healthcare professionals to analyze DNA samples on shared cloud computing platforms. The coming together of nanopore sequencing, biosensors, cloud computing, and computational intelligence has created opportunities in genomics research. It is anticipated to enhance market value and transform genomics through broadening its uses.

Nanopore Sequencing Market Segmentation

Market Breakup by Product 

• Instruments

• Consumables

Market Breakup by Type of Nanopore

• Solid State

• Biological

• Hybrid

Market Breakup by Type of Nucleotide Sequenced

• DNA

• RNA

Market Breakup by Application

• Human Genetics

• Clinical Research

• Microbiology

• Others

Market Breakup by End User

• Clinical Laboratories

• Education & Research Institutes

• Biotechnological Companies

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Nanopore Sequencing Market Share

Market Segmentation Based on Application to Witness Substantial Growth

Based on the application, the market is divided into human genetics, clinical research and microbiology, among others. Human genetics is expected to lead the market because of its diverse applications, and substantial investment in research and clinical areas. Clinical research is also expanding as it centres on gene expression and disease mechanisms. It investigates gene expression, transcriptome, and biomarkers. Epigenetics examines changes in gene regulation that occur without altering DNA.

Nanopore Sequencing Market Analysis by Region

Based on region, the market report covers North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

North America is expected to dominate the market due to its advanced healthcare system, significant investment in research and development, and the presence of key industry players. Government backing for genomics and personalized medicine, paired with increasing genetic disorders, propel market expansion. 

Europe is also poised to have a significant market share because of the incorporation of advanced genomics technologies in research and clinical use. Innovation and market expansion are supported by robust research institutions and collaborations. Investments in biotechnology and research are driving the rapid growth of nanopore sequencing in the Asia-Pacific region. China, Japan, and India are leading the way in progressing genomic research and healthcare infrastructure with backing from their respective governments.

Leading Players in the Nanopore Sequencing Market

The key features of the market report include patent analysis, grant analysis, funding, and investment analysis as well as strategic initiatives including recent partnerships and collaborations by the leading players. The major companies in the market are as follows:

Oxford Nanopore Technologies plc.

Oxford Nanopore Technologies plc is a leading biotechnology company specializing in the development and commercialization of nanopore sequencing technology. Their platforms, including the portable MinION and high-throughput PromethION, provide real-time, scalable sequencing solutions that provide long-read data and directly detect base changes. in March 2024, Oxford Nanopore Technologies introduced the PromethION 2 Integrated (P2i) as a new addition to its PromethION series.

F. Hoffmann-La Roche Ltd

Roche, a biotechnology company, provides drugs for cancer, autoimmune diseases, CNS disorders, and more. It was established in 1896 and has its headquarters in Basel, Switzerland. They also offer in vitro diagnostics, cancer diagnostics, and diabetes management solutions.

Cyclomics BV 

Cyclomics B.V. is a Dutch biotech company performing research and development activities in the field of genomics, diagnostics, and health care. In 2023, Cyclomics  and Oxford Nanopore Technologies introduced a novel research method known as the ‘liquid biopsy’ workflow that utilizes nanopore sequencing to identify cancer-related molecules present in circulating blood.

Quantapore Inc. 

Quantapore, Inc. operates as a pharmaceutical company. It was established in 2007 and has its headquarters in California, United States. The company develops novel, nanopore-based nucleic acid sequencing technologies.

Other players in the market are Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., CD Genomics, DNA Technologies Core, DNA Technologies Core, MicrobesNG, and Pacific Biosciences of California Inc.

Key Highlights of the Report

Key Questions Answered in the Nanopore Sequencing Market Report

• What was the global nanopore sequencing market value in 2023? 
• What is the global nanopore sequencing market forecast outlook for 2024-2032? 
• What are the regional markets covered in the EMR report?
• What is the market segmentation based on application? 
• What is market breakup based on product? 
• What is market segmentation based on the type of nanopore? 
• What is market segmentation breakup based on the type of nucleotide sequenced? 
• Who are the major end users in the market?  
• What are the major factors aiding the global nanopore sequencing market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years? 
• What are the major drivers, opportunities, and restraints in the market?
• What are the major trends influencing the market?  
• Which regional market is expected to dominate the market share in the forecast period?  
• Which country is likely to experience elevated growth during the forecast period?  
• Who are the key players involved in the global nanopore sequencing market? 
• What are the current unmet needs and challenges in the market? 
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?