Unlocking Opportunities in the Single Molecule Real Time Sequencing Market: Key Trends, Market Growth, and Forecast Insights
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of theSingle Molecule Real Time Sequencing Market?
The escalating occurrence of neurological illnesses is anticipated to increase the demand in the single molecule real time sequencing sector. These are disorders that impact our nervous system which includes the brain, spinal cord, and peripheral nerves, and result in a myriad of symptoms such as compromised cognition, sensation, movement, and coordination. Alzheimer’s disease, parkinson’s disease, stroke and epilepsy are among the common neurological diseases. The surging rate of these diseases can be credited to an older population, improved awareness, better diagnostic methodologies, and several environmental elements. Single Molecule Real Time (SMRT) sequencing can provide essential genetic data that is imperative for gaining insight into and treating neurological ailments. For example, the Alzheimer’s Association, an American nonprofit organization dedicated to Alzheimer’s, stated in a report in May 2024 that the count of Americans 65 years and above diagnosed with Alzheimer’s rose from 6.5 million in 2022 to 6.9 million in 2024. Thus, the escalating occurrence of neurological illnesses is set to fuel the growth of the single molecule real time sequencing sector.
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How Will the Growth Rate of theSingle Molecule Real Time Sequencing Market Impact Industry Trends by 2034?
In the last few years, the single molecule real time sequencing market has seen significant expansion. It is predicted to rise from $3.15 billion in 2024 to $3.43 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.9%. This growth in the past period is largely due to enhancements in sequencing technologies and lower sequencing costs, increased financial backing and investment in genomics research, progress in personalized medicine and precision healthcare, a surge in demand for non-invasive diagnostic methods, and widening scope of applications in cancer research.
The market for single molecule real time sequencing is projected to experience substantial growth in the upcoming years. Its market size is predicted to reach $4.75 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.5%. Factors contributing to this growth during the forecast period include ongoing advancements and enhancements in sequencing technologies, an increase in the utilization of SMRT sequencing in clinical diagnostics and research, a heightened focus on precision medicine and targeted therapies, and growth in genomic research and personalized medicine applications. Moreover, the rise in genetic disorders and chronic diseases is also a contributing factor. Key trends during the projected period involve the merging of other omics technologies, sequencing miniaturization and portability, betterment in data analysis tools, inculcation of AI and machine learning, and progression in SMRT sequencing technologies.
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How Are Consumer Market Innovations Shaping the Current and Future Landscape of theSingle Molecule Real Time Sequencing Market?
The key players in the single molecule real time sequencing market are putting their efforts into creating advanced solutions, including HiFi sequencing technology, with the objective of identifying genetic mutations in patients that could lead to diseases. HiFi sequencing technology is known for its precise, long-read DNA sequences, which it acquires by examining individual molecules with very few errors. This provides in-depth knowledge of complicated genomic regions. In October 2022, US biotech firm Pacific Biosciences, who specialize in the development of gene sequencing and innovative real-time biological systems for observation, launched the Revio long-read sequencing system. This was designed to enhance its HiFi sequencing technology in a big way. The system has the capacity to sequence up to 1,300 human whole genomes each year at 30-fold coverage for less than $1,000 per genome. It introduces a new SMRT Cell with three times the density of the previous models, which allows for up to 100 million ZMWs for concurrent single-molecule sequencing. It has been refined with NVIDIA GPUs and AI-powered algorithms, leading to a 15-fold increase in HiFi data and a 20-fold boost in computing power. Additionally, it cuts the use of consumables by 50% and optimizes workflow efficiency by permitting the setup of new runs while existing ones are still in progress.
Who Are the Key Market Players Influencing the Growth of the Corn and Single Molecule Real Time Sequencing Industry?
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.
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Which Key Market Segments Comprise the Single Molecule Real Time Sequencing Market and Drive Its Revenue Growth?
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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Which Regions Are Emerging as Leaders in 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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