Single-molecule Real-time (SMRT) Sequencing Industry Size

The report "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" is projected to grow from USD 2.92 billion in 2025 and to reach 5.32 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period.

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Various factors are driving growth in the worldwide single-molecule real-time (SMRT) sequencing market. Demand for long, highly accurate reads that can resolve complex genomic regions with fewer gaps is skyrocketing. This is especially true for rare diseases and cancer genomics, where structural variants, repeat expansions, and phasing can significantly alter the clinical narrative. At the same time, an increasing number of groups are funding large-cohort and population genomics projects, pushing the use of long reads far beyond the realm of niche research areas. In addition, SMRT is gaining more and more interest in cDNA sequencing and epigenetic studies that require the original long-read.

The products segment accounted for the dominant share in 2024.

By offering, the single-molecule real-time (SMRT) sequencing market is divided into products and services. In 2024, products led the market, supported by a growing installed base of SMRT long-read systems across genome centres, academic core facilities, specialty labs, and sequencing service providers. This keeps demand high for SMRT Cells, sequencing reagent kits, polymerase/binding kits, and library preparation kits, which are used on every run. These products are critical because they enable long, highly accurate reads (HiFi) for applications where long-read data is essential.    

The academic and research institutes segment is estimated to be the largest in 2024.

By end user, the SMRT sequencing market is segmented into academic & research institutes, biopharmaceutical companies, hospitals & clinical laboratories, and other end users. In 2024, academic & research institutes held the largest share of the global SMRT sequencing market by end user. This sector is energized by intensive long-read usage in universities, genome centers, and core facilities that routinely run complex projects, where SMRT offers obvious advantages. These institutes depend on SMRT for de novo genome assembly, structural variant mapping, repeat expansion studies, haplotype phasing, and full-length transcript sequencing (Iso-Seq), which are instrumental in functional genomics and method development programs.

Asia Pacific is likely to be the fastest-growing region in the Single Molecule Real Time (SMRT) sequencing market during the forecast period.

By region, the single-molecule real-time (SMRT) sequencing market is divided into North America, Europe, the Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific is emerging as the key growing region, supported by rising public and private investment in genomics, the expansion of genome centers and advanced hospital labs, and an increasing number of national and multi-institutional programs that are scaling sequencing adoption. Growth is also being lifted by stronger use of long-read sequencing in rare disease testing, complex variant resolution (SVs/repeat expansions), cancer research, and translational studies.    
Prominent players operating in the Single Molecule Real Time (SMRT) sequencing market include Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), PacBio (US), and Agilent Technologies, Inc. (US), among others.

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