Single-molecule Real-time (SMRT) Sequencing Market Size, Growth, Share & Trends Analysis
Single-molecule Real-time (SMRT) Sequencing Market by Offering (Products, Services), Workflow (Sequencing, Data Analysis), Application (Drug Discovery, Diagnostic, Agriculture), End User (Academia, Pharma, Biotech) - Forecast to 2030
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The Single-molecule Real-time (SMRT) Sequencing Market, valued at US$2.83 billion in 2024, stood at US$2.92 billion in 2025 and is projected to advance at a resilient CAGR of 12.8% from 2025 to 2030, culminating in a forecasted valuation of US$5.32 billion by the end of the period. This market is expanding as long-read sequencing is used more often in rare disease diagnostics, cancer genomics, and broader precision medicine programs. Growth is supported by rising demand for structural variant detection and repeat expansion analysis, where long, accurate reads add clear value over short-read methods. It is also being reinforced by increasing public and private research funding and larger population and biodiversity genomics projects.
KEY TAKEAWAYS
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By RegionThe North America single-molecule real-time (SMRT) sequencing marketa ccounted for a 44.3% revenue share in 2024.
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By OfferingsBy offerings, the single-molecule real-time (SMRT) sequencing market services segment is expected to register the highest CAGR during the forecast period.
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By WorkflowIn the single-molecule real-time (SMRT) sequencing workflow market, the sequencing market segment is expected to dominate the market.
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By End userIn the single-molecule real-time (SMRT) sequencing end user market, the academic & research institutes segment is expected to dominate the market.
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By ApplicationBy application, the diagnostics segment is projected to grow at the fastest rate from 2025 to 2030.
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Competitive LandscapePacBio, Illumina, Inc., Thermo Fisher Scientific, and Agilent Technologies were identified as some of the star players in the SMRT sequencing market, given their strong market share and offerings footprint.
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Competitive Landscape10X Genomics and Ultima Genomics, among others, have distinguished themselves among startups and SMEs by securing strong footholds in specialized niche areas, underscoring their potential as emerging market leaders
The single-molecule real-time (SMRT) sequencing market is witnessing robust growth, driven by rising demand for high-throughput genomic technologies that support accurate disease diagnosis, targeted therapy selection, and advanced translational research across the region. Increasing adoption of NGS in oncology, rare disease, reproductive health testing, and liquid biopsy applications, together with strong government-backed genomic initiatives, expanding use in academic and reference laboratories, and growing engagement from biopharmaceutical companies, is further strengthening market momentum despite persisting variability in national reimbursement frameworks.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
The impact on stakeholders’ businesses in the global single-molecule real-time (SMRT) sequencing market is driven by the push toward high-resolution, long-read genomics for precision medicine, cancer genomics, and rare disease diagnostics, supported by continuous improvements in the accuracy, throughput, and cost efficiency of SMRT platforms. Hospitals and clinical laboratories, as well as academic and government research institutes, and biopharmaceutical and biotechnology companies, are the primary adopters of SMRT sequencing. They utilize this technology for whole-genome and transcriptome analysis, structural variant and epigenetic profiling, metagenomics, and complex oncology applications, thereby expanding the technology’s role across both research and clinical workflows globally.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
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Long reads with high accuracy are pulling in real demand
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Better structural variant and complex-region visibility is a clear value driver
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High costs of single-molecule real-time sequencing
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Rare disease and inherited disorder testing
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Full-length transcriptomics with Iso-Seq
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Clinical standardization and quality expectations
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: Long reads with high accuracy are pulling in real demand
SMRT (HiFi) provides long reads without the usual trade-off in accuracy, helping end users resolve repeats, SV breakpoints, and 'hard' regions more efficiently. It also reduces the need for complex hybrid approaches in many projects, so more labs justify long-read runs for high-impact questions.
Restraint: High costs of single-molecule real-time sequencing
For many labs, long-read runs still cost more for the same genome coverage. As a result, SMRT is often reserved for complex cases or used in hybrid designs. Budget owners also compare 'cost per answer' alongside cost per run, which keeps adoption slower in routine, high-throughput testing environments.
Opportunity: Rare disease and inherited disorder testing
Long reads can capture SVs, repeats, and phasing in a single workflow. This helps explain cases that short reads struggle to resolve. Clinical discussions and reviews increasingly point to higher diagnostic value in challenging cases. As more health systems fund genomics, long-read 'problem-solver' testing can scale up.
Challenge: Clinical standardization and quality expectations
Clinical rollout requires robust validation, documentation, and quality controls. Labs must also align with accreditation requirements, such as ISO-based frameworks. This means more time is spent on verification, proficiency testing, and controlled reporting. Scaling beyond early adopters often depends on how smooth the 'validated workflow' becomes.
SINGLE-MOLECULE REAL-TIME (SMRT) SEQUENCING MARKET: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
|---|---|---|
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Scientists at the University of East Anglia, Earlham Institute, Joint Genome Institute, University of California, Berkeley, and several other organizations explore extremophile genome with SMRT sequencing using PacBio assembly | High accuracy of sequence |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The global single-molecule real-time (SMRT) sequencing market ecosystem comprises instrument and reagent manufacturers, including Pacific Biosciences, Oxford Nanopore Technologies, Illumina, Thermo Fisher Scientific, Qiagen, Roche, BGI Genomics, and several regional players, as well as a broad base of service providers and bioinformatics companies that deliver long-read sequencing, consumables, and data-analysis solutions for complex genomic applications. Hospitals, diagnostic laboratories, academic and research institutes, and biopharmaceutical companies integrate SMRT platforms and services into clinical diagnostics, population and translational genomics, rare disease and oncology research, and large-scale genome projects, enabling high-throughput detection of structural variants, epigenetic modifications, and other challenging genomic features worldwide.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
SMRT Sequencing Market, By Offerings
In 2024, the global single-molecule real-time (SMRT) sequencing market remained largely driven by product developments. It was characterized by the dominance of long-read instruments and consumables with high usage, which laboratories continue to purchase for each run. These products enable SMRT to deliver its core strengths, such as high-fidelity long reads for structural variant detection, repeat expansion analysis, de novo genome assembly, and full-length transcript sequencing. Research and clinical programs are two sides of the same coin, driving demand for SMRT sequencing technologies. These include rare diseases, cancer genomics, and population studies, where complex regions are of utmost importance.
SMRT Sequencing Market, By Workflow
As of 2024, the sequencing step accounted for the dominant share of the global SMRT sequencing market by workflow and is expected to remain the leading step over the next several years. This is because sequencing is where most value is created in SMRT workflows, driven by the use of SMRT Cells, sequencing reagents, run consumables, and instrument time on long-read platforms. The sequencing step directly determines read length, HiFi accuracy, throughput, and cost per sample, so spending scales with run volumes.
SMRT Sequencing Market, By Application
As of 2024, diagnostics was the dominant application in the global single-molecule real-time (SMRT) sequencing market and is expected to remain the leading use case in the coming years. This is mainly because SMRT’s long, highly accurate reads help clinicians and labs resolve cases where short reads struggle, especially in structural variants, repeat expansions, phasing, and complex genomic regions. Demand is strong for rare disease and inherited disorder testing.
SMRT Sequencing Market, By End user
As of 2024, academic and research institutes accounted for the largest share of the global single-molecule real-time (SMRT) sequencing market by end user, and this segment is expected to remain the largest over the forecast period. Universities and research centers are key users of SMRT because they routinely run projects where long, accurate reads make a real difference, including de novo genome assembly, structural variant mapping, repeat expansion studies, haplotype phasing, and full-length transcript sequencing (Iso-Seq).
REGION
Asia Pacific to be the fastest-growing region in the global SMRT Sequencing market during the forecast period
The Asia Pacific single-molecule real-time (SMRT) sequencing market has strong growth potential over the forecast period. This is driven by a large-scale expansion of genomic capabilities across China, Japan, and India. Additionally, long-read sequencing is increasingly used in clinical and translational programs, contributing to growth. Expansion is also supported by the rise of biopharma research and clinical trials that request long-read data for complex variants and deeper characterization. To meet rising demand, vendors and service labs are adopting greater automation, faster bioinformatics, and cloud-accessible data delivery. They are also ensuring compliance with data residency and privacy requirements in each country in the Asia Pacific region.
SINGLE-MOLECULE REAL-TIME (SMRT) SEQUENCING MARKET: COMPANY EVALUATION MATRIX
In the single-molecule real-time (SMRT) sequencing market matrix, PacBio (Star) leads with its long-read platforms and HiFi chemistry, which are widely used for structural variant detection, repeat expansions, phasing, de novo assembly, and full-length transcript sequencing. This robust product stack, combined with a growing user base in research and advanced clinical genomics, keeps PacBio at the center of the single-molecule real-time (SMRT) sequencing market. Eurofins (Emerging Leader) is gaining visibility as a services-led player helping customers adopt SMRT without building everything in-house. Eurofins can package long-read sequencing into comprehensive end-to-end services, encompassing sample QC, library preparation, sequencing, bioinformatics, and structured data delivery.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- Illumina, Inc. (US)
- Thermo Fisher Scientific, Inc. (US)
- Agilent Technologies, Inc. (US)
- Pacific Biosciences (PacBio) (US)
- Eurofins Scientific (Luxembourg)
- BGI Group (China)
- QIAGEN (Germany)
- Takara Bio Inc. (Japan)
- Danaher Corporation (US)
- Revvity (US)
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size in 2024 (Value) | USD 2.83 Billion |
| Market Forecast in 2030 (Value) | USD 5.32 Billion |
| Growth Rate | CAGR of 12.8% from 2025-2030 |
| Years Considered | 2023-2030 |
| Base Year | 2024 |
| Forecast Period | 2025-2030 |
| Units Considered | Value (USD Million/Billion) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered |
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| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East, Africa |
WHAT IS IN IT FOR YOU: SINGLE-MOLECULE REAL-TIME (SMRT) SEQUENCING MARKET REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
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| Global SMRT (long-read) platform manufacturer / reagent supplier |
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| Large sequencing service provider / genomics core network |
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RECENT DEVELOPMENTS
- October 2025 : Pacific Biosciences (PacBio) (US) announced major advances for Revio and Vega to lower Genome Cost and expand multiomic capabilities
- November 2024 : Pacific Biosciences announced a chemistry upgrade and SMRT cell reuse capability. The company highlighted that it aims targeted dramatic price reductions for customers and to compete with short-read sequencing.
Table of Contents
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Methodology
Single-molecule Real-time (SMRT) Sequencing Market
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