Single Molecule Real Time Sequencing (SMRT) Market

By Product;

Consumable, Instrument and Services

By Application;

DNA Sequencing, RNA Sequencing, Epigenetics, Whole Genome Sequencing and Others

By End- Users;

Hospitals, Diagnostic Laboratories, Biopharmaceutical Companies, Academic Institutes & Research Centers and Others

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn744705714 Published Date: August, 2025

Single-Molecule Real-Time Sequencing (SMRT) Market Overview

Single-Molecule Real-Time Sequencing (SMRT) Market (USD Million)

Single-Molecule Real-Time Sequencing (SMRT) Market was valued at USD 2341.87 million in the year 2024. The size of this market is expected to increase to USD 6229.42 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 15.0%.


Single Molecule Real Time Sequencing (SMRT) Market

*Market size in USD million

CAGR 15.0 %


Study Period2025 - 2031
Base Year2024
CAGR (%)15.0 %
Market Size (2024)USD 2341.87 Million
Market Size (2031)USD 6229.42 Million
Market ConcentrationLow
Report Pages304
2341.87
2024
6229.42
2031

Major Players

  • Pacific Biosciences (PacBio)
  • Oxford Nanopore Technologies
  • Illumina, Inc.
  • Thermo Fisher Scientific
  • Qiagen N.V.
  • Roche Holding AG
  • BGI Genomics

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Single Molecule Real Time Sequencing (SMRT) Market

Fragmented - Highly competitive market without dominant players


The Single Molecule Real Time Sequencing (SMRT) Market is witnessing rapid growth driven by increasing adoption of high-precision genomic sequencing technologies. Over 64% of research institutions prefer SMRT-based platforms due to their ability to deliver long-read sequencing data with exceptional accuracy. These solutions enable scientists to study complex genomes and structural variations more effectively.

Expanding Applications in Clinical and Research Fields
The utilization of SMRT sequencing has grown significantly across clinical diagnostics, oncology research, and personalized medicine. Approximately 60% of genomic laboratories adopt these technologies for variant detection, epigenetic profiling, and microbial analysis. The ability to generate high-resolution data supports early disease detection and enhances therapeutic decision-making processes.

Technological Innovations Enhancing Performance
Continuous advancements in polymerase chemistry, real-time imaging systems, and integrated bioinformatics tools are improving the efficiency of SMRT platforms. Nearly 62% of manufacturers have incorporated automated sequencing workflows and AI-powered analytics to enhance data quality and reduce processing time. These innovations are accelerating discoveries in genomics and precision medicine.

Strategic Collaborations and Market Expansion
The Single Molecule Real Time Sequencing (SMRT) Market is gaining momentum through strategic partnerships, investments, and collaborative research initiatives. Around 59% of industry participants are working together to develop advanced sequencing technologies that deliver faster, more accurate results. These efforts are accelerating innovation and strengthening SMRT’s role in advancing genomics and personalized healthcare.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Application
    3. Market Snapshot, By End- Users
    4. Market Snapshot, By Region
  4. Single-Molecule Real-Time Sequencing (SMRT) Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Advancements in DNA sequencing technology
        2. Growing demand for personalized medicine
      2. Restraints
        1. High costs associated with single-molecule real-time sequencing
        2. Limited throughput compared to other sequencing technologies
      3. Opportunities
        1. Expansion of applications in clinical diagnostics
        2. Integration with artificial intelligence for data analysis
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Single-Molecule Real-Time Sequencing (SMRT) Market, By Product, 2021 - 2031 (USD Million)
      1. Consumable
      2. Instrument
      3. Services
    2. Single-Molecule Real-Time Sequencing (SMRT) Market, By Application, 2021 - 2031 (USD Million)
      1. DNA Sequencing
      2. RNA Sequencing
      3. Epigenetics
      4. Whole Genome Sequencing
      5. Others
    3. Single-Molecule Real-Time Sequencing (SMRT) Market, By End- Users, 2021 - 2031 (USD Million)
      1. Hospitals
      2. Diagnostic Laboratories
      3. Biopharmaceutical Companies
      4. Academic Institutes & Research Centers
      5. Others
    4. Single-Molecule Real-Time Sequencing (SMRT) Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Pacific Biosciences (PacBio)
      2. Oxford Nanopore Technologies
      3. Illumina, Inc.
      4. Thermo Fisher Scientific
      5. Qiagen N.V.
      6. Roche Holding AG
      7. BGI Genomics
  7. Analyst Views
  8. Future Outlook of the Market