February 22, 2024
Single Cell Genome Sequencing Market

The Single Cell Genome Sequencing Market Is Driven By Increasing Application In Cancer Research

Single cell genome sequencing enables researchers to analyze the genome of individual cells. It allows to characterize rare cell types in heterogeneous samples and to profile the diversity of cell populations. By determining the entire DNA sequence of individual cells, scientists can unravel complex cellular mixtures and track changes in genetic information as cells develop and differentiate. The technology is revolutionizing our understanding of various diseases like cancer by providing insights into tumor heterogeneity at single cell level. It facilitates personalized treatment approaches by revealing how tumors evolve through genetic alterations in individual cancer cells.

The global single cell genome sequencing market is estimated to be valued at US$ 2.28 Billion in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Technological advancements are a key trend shaping the single cell genome sequencing market. Researchers are developing more efficient and high-throughput sequencing methods to analyze thousands of cells in parallel. For example, platforms like the Chromium Single Cell 3′ platform from 10x Genomics allow analysis of more than one million cells simultaneously. Such innovations have significantly increased sequencing throughput while reducing per cell sequencing costs. Wide availability of user-friendly sample preparation kits and analytic tools are also supporting the adoption of single cell genome sequencing techniques in clinical setting. Growing popularity of single cell multi-omics approaches combining genome sequencing with transcriptomics, epigenomics and proteomics from the same cell promises to accelerate biomarker and drug target discovery.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as setting up genome sequencing facilities requires significant capital investments and expertise in biotechnology.

Bargaining power of buyers: The bargaining power of buyers is moderate given the presence of several established players and availability of substitutes. However, demand for precision medicine and genomics is growing steadily.

Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials used in genome sequencing such as kits and reagents are available from multiple global suppliers.

Threat of new substitutes: The threat of substitutes is low as no direct substitutes provide the detailed single-cell analysis as genome sequencing. However, alternative techniques offer bulk tissue analysis.

Competitive rivalry: The competitive rivalry is high among the global players operating in this market given the technological expertise required.

Key Takeaways

The Global Single Cell Genome Sequencing Market Growth is expected to witness high over the forecast period 2023 to 2030. The global single cell genome sequencing market is estimated to be valued at US$ 2.28 Billion in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030.

North America dominated the global market in 2023 due to presence of leading sequencing facilities and significant funding for genomics research in the region. The growth can be attributed to advanced research infrastructure and presence of leading industry players in the US. Asia Pacific is poised to witness fastest growth owing to increasing healthcare expenditures and rising genomics research in China, Japan and India.

Key players: Key players operating in the Single Cell Genome Sequencing market are Logitech International SA, Microsoft Corporation, Datadesk Technologies, Inc., Fentek Industries Inc., Adesso AG, Shenzhen V4 Electronic Co., Ltd., Fellowes Limited, Kinesis Corporation, Gold Touch Enterprise Inc., and Posturite UK Ltd. The players are increasingly focusing on strategic collaborations to strengthen their product portfolio and market share.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it