Comprehensive Analysis of the Single-Molecule Real-Time Sequencing (SMRT) Market 2025-2034: Growth Rates, Trends, and Future Opportunities
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What key factors are powering the surge in the single-molecule real-time sequencing (smrt) market right now?
The single-molecule real-time sequencing (SMRT) market has grown significantly, with a forecasted increase from $3.11 billion in 2024 to $3.36 billion in 2025 at a CAGR of 8.2%. Growth in previous years was fueled by the rising prevalence of genetic disorders, the need to identify disease-causing mutations, advancements in gene regulation research, and an increasing focus on genomics studies.
How fast Is the single-molecule real-time sequencing (smrt) market expected to grow, and what’s its future value?
The single-molecule real-time sequencing (SMRT) market is expected to grow significantly, reaching $4.55 billion by 2029 at a CAGR of 7.9%. Growth is driven by the rising demand for precision medicine, advancements in gene regulation studies, increasing genetic and molecular biology research, high-throughput sequencing needs, and the necessity for accurate long-read sequencing. Key trends include expansion into clinical diagnostics, novel application developments, next-generation sequencing (NGS) innovations, advancements in data analysis, and product innovations for improved sequencing accuracy.
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What are the leading drivers of growth in the single-molecule real-time sequencing (smrt) market?
The increasing demand for precision medicine is expected to drive the growth of the single-molecule real-time sequencing (SMRT) market. Precision medicine, which tailors treatment to individual patients, is advancing due to improvements in genomic technologies. SMRT provides detailed genomic and epigenetic information, facilitating better diagnoses and personalized treatments. For instance, in 2022, the Personalized Medicine Coalition reported the approval of 12 new customized medications, accounting for 34% of newly approved treatments. Therefore, the growing demand for precision medicine is boosting the SMRT market.
What are the key segments defining 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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Who are the key players steering the development of 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.
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Which regions are most influential in expanding the single-molecule real-time sequencing (smrt) market?
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.
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