Single Molecule Real Time Sequencing Growth Forecast 2025-2034: Trends, Opportunities, and Key Insights You Need to Know
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What Are the Projected Expansion Rates of the Single Molecule Real Time Sequencing Market for the Next Decade?
In recent years, there’s been a significant growth in the size of the single molecule real time sequencing market. The market, which stood at $3.15 billion in 2024, is anticipated to expand to $3.43 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 8.9%. This historical growth can be linked to progress in sequencing technologies, decreased sequencing costs, augmented funding and investments in genomics research, an increase in personalized medicine and precision healthcare, a surge in demand for non-invasive diagnostic methods, plus wider usage in cancer research.
The market size of single molecule real time sequencing is predicted to experience robust expansion in the approaching years. It is projected to reach a worth of $4.75 billion in 2029, with a compound annual growth rate (CAGR) of 8.5%. This expected growth during the forecast period can be credited to continuous technological progress and breakthroughs in sequencing technologies, the increasing implementation of SMRT sequencing in clinical diagnostics and research, heightened focus on precision medicine and targeted therapies, the broadening scope of genomic research and personalized medicine applications, and the escalating occurrence of genetic disorders and chronic illnesses. Key trends for the forecast period include the amalgamation with other omics technologies, size reduction and portability of sequencing, enhanced tools for data analysis, the incorporation of AI and machine learning, and advancements in SMRT sequencing technologies.
What Strategic Factors Are Influencing the Accelerated Growth of the Single Molecule Real Time Sequencing Market?
The increase in neurological disease cases is set to fuel the expansion of the single molecule real time sequencing market. Neurological afflictions result in disorders of the nervous system, impacting the brain, spinal column and peripheral nerves. This can lead to a variety of symptoms, like impaired movement, sensation, cognition, and coordination. Alzheimer’s disease, Parkinson’s disease, strokes, epilepsy, among others, fall into the category of common neurological diseases. An aging population, heightened awareness, enhanced diagnostic methods and environmental factors contribute to the uptick in neurological diseases. The Single-molecule real-time (SMRT) sequencing method gives in-depth genetic data which is essential in comprehending and tackling neurological disorders. For instance, a report by the Alzheimer’s Association, a US-based non-profit organization devoted to Alzheimer’s research and support, stated that the number of Americans aged 65 and above diagnosed with Alzheimer’s had increased from 6.5 million in 2022 to 6.9 million in 2024 in May 2024. Hence, the escalating prevalence of neurological diseases is anticipated to spur on the growth of the single molecule real time sequencing market.
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Which Companies Are Redefining the Future of the Single Molecule Real Time Sequencing Market?
Major companies operating in the single molecule real time sequencing market are:
• F. Hoffmann-La Roche Ltd
• Thermo Fisher Scientific Inc.
• Agilent Technologies Inc.
• Illumina Inc.
• Bio-Rad Laboratories Inc.
What Trends Are Poised to Drive the Future Success of the Single Molecule Real Time Sequencing Market?
Leading businesses in the single molecule real time sequencing market are putting their efforts into creating advanced solutions like HiFi sequencing technology, which can help identify genetic mutations that cause diseases. HiFi sequencing technology delivers extremely precise, long-read DNA sequences by recording and examining single molecules, resulting in fewer mistakes and comprehensive understanding of complex genomic areas. For example, Pacific Biosciences, a US biotechnology entity that innovates in gene sequencing and novel real-time biological observation systems, introduced its Revio long-read sequencing system in October 2022. This system is meant to boost the performance of its HiFi sequencing technology significantly. It is capable of sequencing up to 1,300 human whole genomes per year at 30-fold coverage for less than $1,000 per genome. The system includes a completely new SMRT Cell with triple the density of prior models, enabling up to 100 million ZMWs for simultaneous single-molecule sequencing. Powered with NVIDIA GPUs and AI-based algorithms, it provides a 15-fold increase in HiFi data and 20-fold improvement in computation power. Moreover, it lowers the use of consumables by half and amplifies workflow productivity with the feature to initiate new runs during active ones.
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How Are Key Segments Defining the Competitive Landscape of the Single Molecule Real Time Sequencing Market?
The single molecule real time sequencing market covered in this report is segmented –
1) By Type: Pre-Sequencing, Sequencing, Data Analysis
2) By Product: Consumable, Instrument, Services
3) By Application: DNA Sequencing, RNA Sequencing, Epigenetics, Whole Genome Sequencing, Other Applications
4) By End-Users: Hospitals, Diagnostic Laboratories, Biopharmaceutical Companies, Academic Institutes And Research Centers, Other End Users
Subsegments:
1) By Pre-Sequencing: Library Preparation Kits, DNA/RNA Extraction And Purification Products, Quality Control And Quantification Tools
2) By Sequencing: Real-Time Sequencing Systems, Portable Sequencing Devices, High-Throughput Sequencing Platforms
3) By Data Analysis: Software For Data Processing, Bioinformatics Tools, Cloud-Based Data Analysis Solutions
What Are the Leading Regions in the Single Molecule Real Time Sequencing Market Expansion?
North America was the largest region in the single molecule real time sequencing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the single molecule real time sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Core Features That Define the Single Molecule Real Time Sequencing Market?
Single-molecule real-time (SMRT) sequencing is a deoxyribonucleic acid (DNA) sequencing technology that directly observes the synthesis of a single DNA molecule in real-time, allowing for long-read sequencing with high accuracy. This method uses a zero-mode waveguide to detect nucleotide incorporation by a polymerase enzyme, providing detailed and comprehensive genomic information.
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