Single Molecule Real Time Sequencing Market was valued at USD 0.8 Billion in 2022 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 15.8% from 2024 to 2030.
The Single Molecule Real Time (SMRT) Sequencing market was valued at approximately $650 million in 2022, reflecting a strong growth trajectory. The compound annual growth rate (CAGR) for this market is projected to be around 15.2% from 2023 to 2028. This robust growth can be attributed to the increasing demand for advanced sequencing technologies in genomics and personalized medicine. The rising adoption of SMRT Sequencing in various research fields, including cancer genomics and microbiology, further drives market expansion. Additionally, continuous technological advancements and the decreasing cost of sequencing are likely to contribute significantly to market growth over the forecast period.
The market presents numerous opportunities for stakeholders, particularly in emerging regions where research infrastructure is expanding rapidly. The Asia-Pacific region, in particular, is expected to witness substantial growth due to increasing investments in genomics research and a rising focus on healthcare improvements. Furthermore, the integration of SMRT Sequencing with other technologies, such as artificial intelligence for data analysis, is anticipated to open new avenues for market players. This synergy is likely to enhance the accuracy and efficiency of genomic studies, thus broadening the scope of applications and driving market opportunities in the coming years.
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Pacific Biosciences
Oxford Nanopore Technologies Limited
MicrobesNG
Creative Biomart
BGI
GENEWIZ
Novogene
Macrogen
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Single Molecule Real Time Sequencing Market
Academic & Research Institutes
Hospitals & Clinics
Pharmaceutical & Biotechnology Companies
Others
Based on Types the Market is categorized into Below types that held the largest Single Molecule Real Time Sequencing market share In 2023.
Pre-sequencing
Sequencing
Data Analysis
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Single Molecule Real Time Sequencing Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Single Molecule Real Time Sequencing Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Single Molecule Real Time Sequencing Market, By Type
6. Global Single Molecule Real Time Sequencing Market, By Application
7. Global Single Molecule Real Time Sequencing Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Single Molecule Real Time Sequencing Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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