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What Market Size Is Forecasted For The Single-Molecule Real-Time Sequencing (SMRT) Market By 2030 Based On Its 2026 Value?
The single-molecule real-time sequencing (smrt) market has demonstrated strong growth over recent years. This market is expected to expand from $3.36 billion in 2025 to $3.63 billion in 2026, achieving a compound annual growth rate (CAGR) of 8.1%. The historical growth trajectory can be attributed to several key factors, including the expansion of genomic research initiatives, the increasing adoption of next-generation sequencing platforms, a growing demand for whole genome sequencing, rising investments in life sciences research, and advancements in sequencing chemistry.
The single-molecule real-time sequencing (smrt) market is poised for substantial growth over the next few years, with its size projected to reach $4.9 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 7.8%. This anticipated growth during the forecast period is driven by factors such as the increasing application of precision medicine approaches, a rising demand for population-scale genomics, the expansion of clinical genomics applications, the growing integration of AI-driven bioinformatics, and increasing funding for advanced sequencing technologies. Significant trends expected during this period include the wider adoption of long-read sequencing technologies, the increasing utilization of smrt sequencing for structural variant detection, a growing need for high-accuracy epigenetic analysis, the expansion of real-time sequencing workflows, and an enhanced focus on complex genome resolution.
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What Are The Main Drivers Accelerating The Growth Of The Single-Molecule Real-Time Sequencing (SMRT) Market?
The single-molecule real-time sequencing (SMRT) market is anticipated to expand in the future, fueled by the increasing need for precision medicine. This medical approach, also known as personalized medicine, involves customizing treatment and healthcare plans for individual patients, considering their unique genetic makeup, environmental influences, and lifestyle choices. The escalating requirement for personalized medical solutions stems from progress in genomic technologies, which facilitates more precise and customized treatments, alongside a heightened focus on individual patient care to achieve superior results. SMRT technology plays a crucial role in advancing precision medicine, offering highly detailed and accurate genomic and epigenetic data that supports more effective diagnoses, customized treatment plans, and ultimately, better patient outcomes. For example, in May 2025, the U.S. Food and Drug Administration (FDA) authorized 18 novel personalized medicines in 2023, constituting approximately 38% of all newly approved therapeutic molecular entities, as reported by the U.S.-based professional organization, the Personalized Medicine Coalition (PMC). Consequently, the growing demand for precision medicine is a significant catalyst for the expansion of the single-molecule real-time sequencing (SMRT) market.
How Is The Single-Molecule Real-Time Sequencing (SMRT) Market Structured Across Different Market Segments?
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) By Consumable: Reagents, Sample Preparation Kits, Flow Cells
2) By Instrument: SMRT Sequencers, Accessories, Software
3) By Services: Data Analysis Services, Sequencing Services, Technical Support Services
Major entities operating in the single cell protein market are prioritizing technological innovations, such as precision microbial fermentation, to secure a competitive advantage. Precision microbial fermentation describes the managed cultivation of selected microorganisms like yeast, bacteria, or fungi within bioreactors using specified feedstock, leading to the efficient creation of protein-rich biomass. For instance, MicroHarvest, a biotechnology firm based in Portugal, launched a pilot plant in Lisbon in November 2023 for the production of single cell protein. This plant is capable of daily yields of 25 kg with more than 60 percent raw protein content, leveraging renewable feedstock. This technological approach supports scalable and consistent protein generation for the food, pet food, and feed markets.
Which Industry Players Are Present In 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, Dovetail Genomics LLC, SeqWell Inc., Paragon Genomics Inc., Nabsys Inc., Eurofins Scientific SE, Novogene Corporation
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Which Region Contributes The Most To The Single-Molecule Real-Time Sequencing (SMRT) Market?
North America was the largest region in the single-molecule real-time sequencing (SMRT) market in 2025. The regions covered in the single-molecule real-time sequencing (smrt) market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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