How Has the Single Molecule Real Time Sequencing Market Evolved Historically and What is its Current Size?
The single molecule real time sequencing market has seen considerable growth due to a variety of factors.
• The market size of single molecule real time sequencing has significantly expanded in recent years. The industry is set to escalate from a worth of $3.15 billion in 2024 to about $3.43 billion in 2025, maintaining a compound annual growth rate (CAGR) of 8.9%.
The surge during the historic phase is due to advancements in sequencing technologies, dropping costs of sequencing, greater funding and investment dedicated to genomics research, the expansion of personalized medicine and precision healthcare, growing consumer demand for non-invasive diagnostic procedures, and increasing application in cancer research.
What Is The Projected Growth Of The Single Molecule Real Time Sequencing Template Market?
The single molecule real time sequencing market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of single molecule real time sequencing is projected to experience substantial expansion in the coming years. By 2029, it is expected to reach $4.75 billion, growing at a compound annual growth rate (CAGR) of 8.5%.
This growth during the forecast period can be credited to ongoing improvements and novel developments in sequencing technologies, a rise in the use of SMRT sequencing for clinical diagnosis and research, an increased focus on precision medicine, and targeted therapies. Additionally, the growth of genomic research and personalized medicine applications, as well as the increasing prevalence of genetic disorders and chronic diseases all contribute. Key trends during the forecast period will include blending with other omics technologies, miniaturization and portability of sequencing, enhancement of data analysis tools, application of AI and machine learning, and progress in SMRT sequencing technologies.
What Are The Key Drivers Fueling Growth In The Single Molecule Real Time Sequencing Market?
The surge in neurological disease cases is anticipated to fuel the expansion of the single molecule real time sequencing market. Neurological diseases, which impact the nervous system, including the brain, spinal cord, and peripheral nerves, can result in a variety of symptoms such as impaired coordination, sensation, cognition, and movement. Common examples of these diseases are alzheimer, parkinson, stroke, epilepsy, among others. Factors such as an ageing population, heightened awareness, advanced diagnostic methods, and environmental elements contribute to the increase in neurological disease rates. Providing in-depth genetic data crucial for understanding and addressing neurological problems is the key benefit of Single-molecule real-time (SMRT) sequencing. For example, a report by the Alzheimer's Association, a US-based nonprofit organization dedicated to Alzheimer support and research, noted that by May 2024, the number of Americans over the age of 65 diagnosed with Alzheimer's had grown from 6.5 million in 2022 to 6.9 million in 2024. Consequently, the escalating occurrence of neurological diseases is expected to trigger the growth of the single molecule real time sequencing market.
What Are The Principal Market Segments In The Global Single Molecule Real Time Sequencing Industry?
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 Emerging Market Trends Are Altering The Single Molecule Real Time Sequencing Industry?
Major players in the single molecule real time sequencing market are turning their attention to the creation of advanced solutions such as HiFi sequencing technology, which can identify genetic mutations that lead to diseases. HiFi sequencing technology has the ability to deliver accurate long-read DNA sequences by analyzing individual molecules with minimal error, providing detailed understanding of complex genomic regions. For example, Pacific Biosciences, a US-based biotech company specializing in the development of gene sequencing and real-time biological observation systems, introduced Revio, a long-read sequencing system, in October 2022. This system was designed to significantly enhance HiFi sequencing technology. It is capable of sequencing 1,300 human whole genomes a year at 30-fold coverage for less than $1,000 per genome. It uses a completely new SMRT Cell with triple the density of previous versions, allowing for up to 100 million ZMWs for simultaneous single-molecule sequencing. Equipped with NVIDIA GPUs and AI-driven algorithms, the system boasts a 15-fold increase in HiFi data, a 20-fold improvement in computing power, and reduces consumable usage by 50%. Workflow efficiency is improved with the ability to schedule new runs during ongoing ones.
Who Are the Key Players In 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 Are The Regional Insights Into 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.
