What are the latest figures on the single-molecule real-time sequencing (smrt) market’s size and projected CAGR?
The single-molecule real-time sequencing (SMRT) market size has grown strongly in recent years. It will grow from $3.11 $ billion in 2024 to $3.36 $ billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to the rising prevalence of genetic disorders, identify disease-causing mutations, unraveling the intricacies of gene regulation, enabling scientists to explore new frontiers in genetic and molecular biology, and growing focus on genomics research.
The single-molecule real-time sequencing (SMRT) market size is expected to see strong growth in the next few years. It will grow to $4.55 $ billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to rising demand for precision medicine, unraveling the intricacies of gene regulation, the rising study of genetic and molecular biology, the need for high-throughput sequencing technologies, and increasing need for long read lengths and high accuracy to study complex genetic structures. Major trends in the forecast period include expansion into clinical diagnostics, development of novel applications, innovations in next-generation sequencing (NGS), data analysis advancements for interpretation and application of sequencing results, and product innovations.
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Which Market drivers have played a significant role in driving the single-molecule real-time sequencing (smrt) market?
The rising demand for precision medicine is expected to propel the growth of the single-molecule real-time sequencing (SMRT) market going forward. Precision medicine, or personalized medicine, is a medical approach that tailors treatment and healthcare strategies to individual patients based on their genetic, environmental, and lifestyle factors. The increasing demand for personalized medicine is driven by advancements in genomic technologies, enabling more precise and tailored treatments and a growing emphasis on individualized patient care for better outcomes. Single-molecule real-time sequencing (SMRT) significantly enhances precision medicine by providing detailed and accurate genomic and epigenetic information, leading to better diagnosis, personalized treatment, and improved patient outcomes. For instance, in 2022, according to the Personalized Medicine Coalition, a US-based professional organization, 12 new customized medications were approved, accounting for around 34% of all newly approved treatments, a significant increase over prior years. Therefore, the rising demand for precision medicine drives growth in the single-molecule real-time sequencing (SMRT) market.
What are the key segments within the single-molecule real-time sequencing (smrt) market?
The single-molecule real-time sequencing (SMRT) market covered in this report is segmented –
1) By Product: Consumable, Instrument, Services
2) By Application: DNA Sequencing, RNA Sequencing, Epigenetics, Whole Genome Sequencing, Other Applications
3) By End-Users: Hospitals, Diagnostic Laboratories, Biopharmaceutical Companies, Academic Institutes And Research Centers, Other End-Users
Subsegments:
1) Consumable: Reagents, Sample Preparation Kits, Flow Cells
2) Instrument: SMRT Sequencers, Accessories, Software
3) Services: Data Analysis Services, Sequencing Services, Technical Support Services
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Which key players are shaping the single-molecule real-time sequencing (smrt) market?
Major companies operating in the single-molecule real-time sequencing (SMRT) market are Thermo Fisher Scientific Inc., Illumina Inc., Qiagen N.V., BGI Group, 10x Genomics Inc., Ginkgo Bioworks Inc., Oxford Nanopore Technologies Limited, Genewiz Inc., Pacific Biosciences of California Inc., Macrogen Inc., Element Biosciences Inc., Asuragen Inc., BioNano Genomics Inc., Zymo Research Corporation, Microsynth AG, GATC Biotech AG, Dovetail Genomics LLC, SeqWell Inc., Paragon Genomics Inc., Nabsys Inc.
How do regional factors impact the single-molecule real-time sequencing (smrt) market, and which region is the largest contributor?
North America was the largest region in the single-molecule real-time sequencing (SMRT) market in 2024. The regions covered in the single-molecule real-time sequencing (SMRT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Single-Molecule Real-Time Sequencing (SMRT) Market Report 2025 Offer?
The single-molecule real-time sequencing (smrt) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Single-molecule real-time (SMRT) sequencing is an advanced DNA sequencing technology that allows for the direct observation of DNA synthesis by monitoring fluorescently labeled nucleotides in real-time, enabling the production of long, continuous reads. This technology is beneficial for sequencing complex genomic regions and resolving structural variations.
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