In-Depth Insights into the Single Molecule Real Time Sequencing Market: Growth, Trends, and Opportunities for 2025-2034
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What key factors are powering the surge in the single molecule real time sequencing market right now?
The market size of single molecule real time sequencing has significantly increased recently. Its forecast shows a growth from $3.15 billion in 2024 to $3.43 billion in 2025, with a compound annual growth rate (CAGR) of 8.9%. This growth over the historical period can be explained by advancements in sequencing technologies, lower sequencing costs, amplified funding and investments in genomics research, an upswing in personalized medicine and precision healthcare, an increasing demand for non-invasive diagnostic methods, as well as widening applications in cancer research.
How fast Is the single molecule real time sequencing market expected to grow, and what’s its future value?
The market for single molecule real time sequencing is projected to experience robust expansion in the upcoming years, surging to a size of $4.75 billion in 2029 with a compound annual growth rate of 8.5%. This anticipated growth during the forecast period can be credited to continuous progress and innovation in sequencing technologies, the increasing implementation of SMRT sequencing in clinical diagnoses and research, and a growing focus on precision medicine and targeted therapies. Furthermore, the market is fueled by the expansion of personalized medicine applications and genomic research, as well as the increasing occurrence of genetic disorders and chronic diseases. The forecast period is also expected to see key trends such as the amalgamation of other omics technologies, the advent of miniaturized and portable sequencing, enhancements in data analysis tools, integration with AI and machine learning, and continuous advancements in SMRT sequencing technologies.
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What are the leading drivers of growth in the single molecule real time sequencing market?
The growth of the single molecule real time sequencing market is projected to be fueled by the increasing occurrence of neurological disorders. These disorders, which impact the nervous system including the brain, spinal cord, and peripheral nerves, present with various symptoms such as compromised movement, sensation, cognition, and coordination. Alzheimer’s, Parkinson’s, stroke, epilepsy, among others are some of the prevalent neurological diseases. An aging population, better awareness, advancements in diagnostic methods, and environmental factors contribute to the surge in neurological diseases. Single-molecule real-time (SMRT) sequencing, which offers vital genetic data, is pivotal in comprehending and addressing neurological conditions. As an illustration, a report from the Alzheimer’s Association, a non-profit U.S. organization for Alzheimer’s aid and research, shows that there was an increase in the number of Americans aged 65 and over diagnosed with Alzheimer’s, rising from 6.5 million in 2022 to 6.9 million in 2024 which was released in May 2024. Consequently, the escalating incidence of neurological disorders will stimulate the expansion of the single molecule real time sequencing market.
What are the key segments defining 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
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Who are the key players steering the development 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., Qiagen N.V., Tecan Group Ltd, BGI Genomics Co. Ltd., LGC Limited, 10x Genomics Inc., Ginkgo Bioworks Inc., Novogene Corporation, Oxford Nanopore Technologies Limited, New England Biolabs Inc., Pacific Biosciences of California Inc., Horizon Discovery Group plc, Asuragen Inc., GENEWIZ Inc., Bionano Genomics Inc., Zymo Research Corporation, Dovetail Genomics LLC, Singular Genomics Systems Inc.
What emerging trends are influencing the growth of the single molecule real time sequencing market?
Significant players in the single molecule real time sequencing market are prioritizing the development of innovative solutions such as HiFi sequencing technology, aimed at detecting genetic mutations that lead to diseases in patients. The HiFi sequencing technology allows the capturing and analysis of single molecules, producing extremely precise, long-read DNA sequences and providing in-depth knowledge of complex genomic regions. For example, Pacific Biosciences, a biotechnology company in the US that develops gene sequencing and unique real-time biological observation systems, introduced the Revio long-read sequencing system in October 2022. The system has been devised to considerably expand its HiFi sequencing technology. The system has the capability to sequence approximately 1,300 human whole genomes per year at 30-fold coverage for less than $1,000 per genome. It includes a completely new SMRT Cell with a density thrice of older models, allowing up to 100 million ZMWs for simultaneous single-molecule sequencing. The system is augmented with NVIDIA GPUs and AI-powered algorithms and presents a 15-fold increase in HiFi data and a 20-fold enhancement in computing power. Additionally, it cuts down consumable usage by half and increases workflow efficiency by enabling the setup of new runs during ongoing operations.
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Which regions are most influential in expanding the single molecule real time sequencing market?
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.
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