Global Single Molecule Real Time Sequencing Smrt Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 2.74 Billion |
 Market Size (Forecast Year) |
USD 4.14 Billion |
 CAGR |
% |
| Major Markets Players |
|
Global Single-Molecule Real-Time Sequencing (SMRT) Market, By Application (DNA Sequencing, RNA Sequencing, Epigenetics, Whole Genome Sequencing, and Others), Product (Consumable, Instrument, and Services), End-Users (Hospitals, Diagnostic Laboratories, Biopharmaceutical Companies, Academic Institutes and Research Centers, and Others) – Industry Trends and Forecast to 2031.
Single-Molecule Real-Time Sequencing (SMRT) Market Analysis and Size
The global single molecule real time sequencing (SMRT) Market is experiencing significant growth, driven by advancements in genomics research, personalized medicine, and diagnostics. SMRT sequencing technologies offer distinct advantages over traditional methods, such as long read lengths, high accuracy, and the ability to directly observe DNA synthesis. These features make SMRT sequencing particularly valuable for applications requiring detailed genetic information, such as identifying genetic variations, studying complex genomic regions, and analyzing epigenetic modifications.
Global single-molecule real-time sequencing (SMRT) market size was valued at USD 2.74 billion in 2023 and is projected to reach USD 4.14 billion by 2031, with a CAGR of 5.3% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2024 to 2031 |
|
Base Year |
2023 |
|
Historic Years |
2022 (Customizable to 2016-2021) |
|
Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
|
Segments Covered |
Application (DNA Sequencing, RNA Sequencing, Epigenetics, Whole Genome Sequencing, and Others), Product (Consumable, Instrument, and Services), End-Users (Hospitals, Diagnostic Laboratories, Biopharmaceutical Companies, Academic Institutes and Research Centers, and Others) |
|
Countries Covered |
U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America |
|
Market Players Covered |
PacBio (U.S.), Beijing Genomics Institute (BGI) (China), Cegat (Centre for Genomics and Transcriptomics) (Germany), Eurofins Genomics (Luxembourg), Comprehensive Biomarker Center (CBC) (Germany), Genomnia (Italy), Illumina (U.S.), Macrogen (South Korea), Microsynth AG (Switzerland), Seqomics (Germany), GATC Biotech AG (Germany), Nabsys, Inc. (U.S.), DNAnexus, Inc. (U.S.), Genedata AG (Switzerland), BaseClear B.V. (Netherlands) |
|
Market Opportunities |
|
Market Definition
Single molecule real time sequencing (SMRT) is a next-generation sequencing technology developed by Pacific Biosciences (PacBio) that enables the real-time analysis of single molecules of DNA or RNA. SMRT sequencing works by monitoring the incorporation of fluorescently labeled nucleotides as they are added to a DNA strand by a DNA polymerase enzyme. This process allows for the direct observation of DNA synthesis in real time, providing long read lengths and high accuracy.
Single-Molecule Real-Time Sequencing (SMRT) Market Dynamics
Drivers
- Advancements in Genomics Research
Researchers require tools that can provide long read lengths and high accuracy to study complex genetic structures, identify disease-causing mutations, and unravel the intricacies of gene regulation. SMRT sequencing's ability to deliver these capabilities positions it as a crucial tool in genomics research, enabling scientists to explore new frontiers in genetic and molecular biology. The ongoing advancements in genomics research are pushing the boundaries of scientific discovery and medical understanding, driving the need for high-throughput sequencing technologies such as SMRT sequencing.
- Rising Demand for Precision Medicine
Precision medicine is revolutionizing healthcare by tailoring treatments to individual patients based on their genetic makeup. This approach requires detailed genetic information, making SMRT sequencing an invaluable tool. SMRT sequencing's ability to detect epigenetic modifications and structural variations in the genome allows for a deeper understanding of disease mechanisms and the development of personalized treatment strategies. As the demand for precision medicine continues to grow, so does the need for advanced sequencing technologies like SMRT sequencing.
Opportunities
- Expansion into Clinical Diagnostics
With its ability to provide comprehensive genetic information, SMRT sequencing is well-suited for diagnosing genetic disorders and guiding personalized treatment strategies. By expanding into the clinical diagnostics market, SMRT sequencing can play a vital role in improving patient outcomes and advancing personalized medicine. The increasing adoption of next-generation sequencing (NGS) in clinical diagnostics presents a significant opportunity for SMRT sequencing.
- Development of Novel Applications
Beyond traditional genomics research, there are numerous novel applications for SMRT sequencing that hold great promise. For instance, studying RNA modifications can provide insights into gene expression regulation, while characterizing immune repertoires can aid in understanding immune responses and developing immunotherapies. Additionally, analyzing microbial communities using SMRT sequencing can lead to discoveries in microbiology and ecology. These novel applications demonstrate the versatility and potential impact of SMRT sequencing beyond its current applications.
Restraints/Challenges
- High Cost of Sequencing
Despite its advantages, one of the main barriers to the widespread adoption of SMRT sequencing is its high cost compared to other sequencing technologies. The cost of instruments, reagents, and data analysis can be prohibitive for some research institutions and clinical laboratories, limiting the accessibility of SMRT sequencing. Efforts to reduce the cost of sequencing and improve cost-effectiveness will be crucial in expanding the use of SMRT sequencing and making it more accessible to a broader range of users.
- Complex Data Analysis
The complexity of data analysis and interpretation in SMRT sequencing poses a significant challenge, particularly for users without bioinformatics expertise. The need for specialized software and computational resources can hinder the adoption of single molecule real-time sequencing in some settings. Simplifying data analysis and providing user-friendly tools and solutions will be essential in overcoming this challenge and making SMRT sequencing more accessible to researchers and clinicians.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In January 2021, CD Genomics announced the addition of PacBio SMRT sequencing to NGS facility. Leveraging PacBio's long-read and single-molecule sequencing technology, the company is excited to provide cutting-edge solutions for genome de novo assembly and full-length gene/transcript sequencing tailored to your project requirements
Single-Molecule Real-Time Sequencing (SMRT) Market Scope
The market is segmented on the basis of application, product, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- DNA Sequencing
- RNA Sequencing
- Epigenetics
- Whole Genome Sequencing
- Others
Product
- Consumable
- Instrument
- Services
End-Users
- Hospitals
- Diagnostic Laboratories
- Biopharmaceutical Companies
- Academic Institutes and Research Centers
- Others
Single-Molecule Real-Time Sequencing (SMRT) Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, application, product, and end-user as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the market due to the presence of major players in the region, who have established strong footholds in the market. In addition, the high disposable income of the population in North America allows for greater investment in advanced technologies like SMRT sequencing.
Asia-Pacific is expected to witness significant growth during the forecast period due to the rapid technological advancements and innovations taking place in this region. Countries such as China, Japan, South Korea, and India are investing heavily in genomics research and are witnessing a surge in demand for advanced sequencing technologies. Furthermore, increasing awareness about personalized medicine and the need for precise genetic testing are driving the adoption of SMRT sequencing in Asia-Pacific.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2016-2021.
Competitive Landscape and Single-Molecule Real-Time Sequencing (SMRT) Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- PacBio (U.S.)
- Beijing Genomics Institute (BGI) (China)
- Cegat (Centre for Genomics and Transcriptomics) (Germany)
- Eurofins Genomics (Luxembourg)
- Comprehensive Biomarker Center (CBC) (Germany)
- Genomnia (Italy)
- Illumina (U.S.)
- Macrogen (South Korea)
- Microsynth AG (Switzerland)
- Seqomics (Germany)
- GATC Biotech AG (Germany)
- Nabsys, Inc. (U.S.)
- DNAnexus, Inc. (U.S.)
- Genedata AG (Switzerland)
- BaseClear B.V. (Netherlands)
SKU-
Get online access to the report on the World's First Market Intelligence Cloud
- Interactive Data Analysis Dashboard
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
- Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
