Key Single Molecule Real Time Sequencing Market Driver for 2025-2034: Growing Neurological Disease Prevalence Fuels Expansion In Single-Molecule Real-Time Sequencing Market

"What Is the Future Outlook for the Single Molecule Real Time Sequencing Market's Size and Growth Rate?
The market size of single molecule real time sequencing has witnessed robust growth in the past few years. It's expected to grow from $3.15 billion in 2024 to $3.43 billion in 2025, marking a compound annual growth rate (CAGR) of 8.9%. The growth during the historical period owes its credit to advancements in sequencing technologies and decreasing costs of sequencing, heightened funding and investment directed towards genomics research, the growth observed in personalized medicine and precision healthcare, an increasing demand for non-invasive diagnostic methods, and the broadening scope of applications in the field of cancer research.

The market size of single molecule real time sequencing is predicted to experience robust expansion in the coming years, growing to $4.75 billion by 2029 with a compound annual growth rate (CAGR) of 8.5%. This growth during the prediction period can be linked to constant advancements and innovations in sequencing technologies, amplified usage of SMRT sequencing in clinical diagnostics and research, an intensified focus on precision medicine and targeted treatments, expansion of genomic research, personalized medicine applications, and a growing incidence of genetic disorders and chronic diseases. The major trends expected in the forecast period encompass the blending with other omics technologies, the miniaturization and portability of sequencing, improved tools for data analysis, integration with AI and machine learning, and advancements in SMRT sequencing technologies.

What Is Stimulating Growth in the Single Molecule Real Time Sequencing Market?
The increasing incidence of neurological conditions is anticipated to fuel the expansion of the single molecule real time sequencing market. Neurological conditions refer to disorders impacting the nervous system, including the brain, spinal cord, and peripheral nerves, leading to various symptoms such as compromised movement, sensation, cognition, and coordination. Alzheimer's disease, Parkinson's, stroke, epilepsy, among others, are common neurological diseases. The surge in these diseases is linked to an aging demographic, enhanced awareness, improved diagnostic methodologies, and environmental factors. Single-molecule real-time (SMRT) sequencing provides in-depth genetic data vital for understanding and treating neurological diseases. For instance, in May 2024, as per a report by the Alzheimer's Association, a US-based nonprofit entity committed to Alzheimer's care, treatment, and research, the count of Americans aged 65 and older diagnosed with Alzheimer's increased from 6.5 million in 2022 to 6.9 million in 2024. Hence, the escalating prevalence of neurological diseases will steer the growth of the single molecule real time sequencing market.

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Which Key Market Leaders Are Driving Single Molecule Real Time Sequencing Industry Growth?
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.

Which Key Market Leaders Are Driving Industry Growth?
The focus of leading businesses in the single molecule real time sequencing industry is to create advanced solutions like HiFi sequencing technology. This is a technique that enables the prediction of diseases caused by genetic mutations among patients. HiFi sequencing technology is popular for its accuracy in providing long-read DNA sequences by evaluating single molecules with minimal errors, thus offering detailed views of intricate genomic regions. Pacific Biosciences, a biotechnology firm based in the United States, introduced its Revio long-read sequencing system in October 2022. The company designed this system to enhance its HiFi sequencing technology significantly. The system has an annual sequencing capacity of around 1,300 human whole genomes at 30-fold coverage and costs less than $1,000 per genome. It is equipped with a new SMRT Cell, which has a three-fold increase in density compared to previous versions, allowing up to 100 million ZMWs for simultaneous single-molecule sequencing. The system, which features NVIDIA GPUs and AI-driven algorithms, offers a 15-fold increase in HiFi data and a 20-fold increase in computing power. It uses 50% fewer consumables and improves workflow efficiency by allowing the setting up of new runs even while others are ongoing.

What Are the Main Segments in the Single Molecule Real Time Sequencing Market?
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 Geographic Area Leads 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.

What Is Covered In The Single Molecule Real Time Sequencing Global Market Report?

- Market Size Analysis: Analyze the single molecule real time sequencing Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the single molecule real time sequencing market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall single molecule real time sequencing market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the single molecule real time sequencing market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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