Research Nester published a report titled “Single Cell Genome Sequencing Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global single cell genome sequencingmarket in terms of market segmentation by product, application, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Driven by growing demand for targeted sequencing technologies, the global single cell genome sequence market is estimated to witness lucrative opportunities in upcoming years. The market garnered revenue of USD 1,133.48 million in 2019 and is projected to reach USD 4,405.78 million by 2028 by growing at a CAGR of 16.25% during the forecast period, i.e., 2021-2028. The market is bifurcated by product into reagents and instruments, out of which, the instruments segment is further segmented into next-generation sequencing systems, PCR instruments, microarrays and others. Among these segments, the next generation sequencing system segment is estimated to hold leading share throughout the forecast period owing to the wide applicability across end-users. The revenue generated by this segment is estimated to touch USD 450 million in 2020.
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Geographically, the global single cell genome sequence market is segmented into five major regions comprising North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Among the market in these regions, the market in North America held the highest share of 42.31% in 2019 in the overall market on account of the increasing number of disease indications requiring genetic screening. Additionally, North America had historically witnessed a relatively higher adoption rate of innovative biotech products, such as the different types of sequencing technologies, in comparison to other geographies. The second highest share is estimated to be held by the market in Europe on account of the increasing government support in the major countries of Europe such as Germany, UK, Spain, and Russia along with the presence of leading single cell genome sequencing players such as Oxford Nanopore Technologies Limited, Sophia Genetics, F2G and MediSapiens among others in the region.
Advancements in DNA Sequencing Technology and Emergence of Next Generation Sequencing to Promote Market Growth
According to Health System Tracker, in U.S., the amount spent on health had more than doubled to USD 3.5 trillion in 2017 comprising amount spent on healthcare and health-related activities including expenditures from both public and private funds. The advanced healthcare infrastructure of countries including the United States, Germany, UK, China, and others is estimated to aid the growth of the market.
The emergence of Next Generation Sequencing (NGS) as an effective method for screening genetic disorders has gained immense acceptance worldwide in the past few years. Furthermore, increasing prevalence of genetic disorders, recent advancement in DNA sequencing technology along with increasing number of collaborations and strategic alliances between companies and healthcare facilities or some of the major factors that are projected to accelerate the growth of the market.
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However, poor healthcare infrastructure in low-income countries and stringent government regulations are estimated to act as barriers to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global single cell genome sequencing market which includes company profiling of Qiagen (NYSE:QGEN), F. Hoffmann-La Roche Ltd. (SWX: RO), Agilent Technologies, Inc. (NYSE: A), Thermo Fisher Scientific Inc. (NYSE:TMO), Illumina, Inc. (NASDAQ: ILMN), Bio-Rad Laboratories, Inc. (NYSE: BIO), Oxford Nanopore Technologies, Pacific Biosciences of California, Inc. (NASDAQ: PACB), and Novogene Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global single cell genome sequencing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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