Single-cell Genome Sequencing Market Size Worth $9 Billion By 2030: IndustryARC

Single-cell Genome Sequencing Market size is predicted to reach $9 billion by 2030, growing at a CAGR of 16.2% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. The rising number of cases of chronic illnesses such as cancer and cardiovascular diseases and the increased funding in the research and development of vaccines are driving market growth, finds IndustryARC in its recent report, titled “Single-cell Genome Sequencing Market – By Product Type (Consumables, Reagents), By Technique (Flow Cytometry, Next-generation Sequencing, Polymerase Chain Reaction, Microscopy, Mass Spectrometry, Others), By Application (Cancer, Immunology, Microbiology, Others), By End-User (Academic and Research Laboratories, Hospitals and Diagnostic Centers, Biotechnology and Pharmaceutical Companies, Cell banks and IVF Centers), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030.”

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Asia-Pacific to Register Highest Growth:

The Asia-Pacific region is estimated to grow at the highest CAGR of 17.2% during the forecast period 2023-2030. The growth is fuelled by the increase in the number of cancer cases in the region. According to the International Agency for Research on Cancer, there would be approximately 15.1 million new cancer cases per year in Asia until 2040.

The unprecedented aging of the population is a key factor in this development. Japan, the country with the oldest population in the world, also has the highest number of cancer cases. This would boost the growth of the Single-Cell Genome Sequencing Market in the region during the forecast period, as medical researchers try to find a cure or better treatment options for cancer patients through Single-cell Genome Sequencing methods.

Single-cell Genome Sequencing Market 2023-2030: Scope of the Report

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Single-cell Genome Sequencing Market Report – Key Takeaways:

• Academic and Research Laboratories Held the Majority of the Market Share

The academic and research laboratories segment held more than one-third of the market share in 2022. Single-cell genomics is emerging as one of the major areas in scientific research and development. The rising prevalence of chronic diseases demands new cures and treatment options, which is further boosting the growth of the academic and research laboratories segment. Moreover, understanding the genomics of individual cells opens a new set of opportunities for the world of biotechnology.

• Reagents Segment to Register Highest Growth

The reagents segment is analyzed to grow with the highest CAGR of 17% during the forecast period. The use of single-cell sequencing reagents allows experts to process bulk samples with only 100 cell inputs. Recent advances in single-cell DNA sequencing techniques allow bulk DNA sequencing to be performed more efficiently and cost-effectively.

• North America is Leading the Market

North America region held a major market share of 43% in 2022. The strong presence in this region can be attributed to the rising prevalence of chronic diseases as well as the product launches and expansions by key market players. In 2022, the American Cancer Society projected 1.9 million new cancer cases in the United States. This is one of the major factors driving the research activities in the Single-cell Genome Sequencing Market. Furthermore, Takara Bio, Inc., one of the key players in the market, launched the SMART-Seq Pro kit for the ICELL8 cx Single-Cell System. These factors allowed North America to hold a massive lead in the Single-cell Genome Sequencing Market.

• Increased Funding for Vaccine Development and Production

Government agencies around the world have increased funding for vaccine development and production in response to the pandemic. This has led to increased use of single cell analysis (SCA) tools in research on COVID-19. SCA helps assess the peripheral immune function of the disease and advances the study of the pathophysiology and treatment options of the disease. Thus, the market is positively affected by COVID-19.

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Key Opportunity Analysis:

• Evolving Sequencing Technologies

The rapid development of sequencing technologies is also expected to drive the growth of the single-cell genome sequencing market during the forecast period. Polymerase chain reaction (PCR) and next-generation sequencing are becoming popular technologies for various applications, especially single-cell genomic sequencing. In January 2022, a team of Stanford medical researchers and their collaborators developed a new ultra-fast genome sequencing method that offered a diagnostic rate about 12% higher than the average diagnostic rate for mysterious diseases.

• Rising Demand in Immunology, Oncology and Others

Single-cell technology is used to study the processes and pathways of cellular heterogeneity at the molecular level, along with its assessment. This rapidly developing technology has important applications in immunology, oncology and other important fields. In addition, the development of advanced tools that simplify proteomic and transcriptomic processes will also promote the use of single-cell analysis methods, fueling the growth of the single-cell genome sequencing market.

• Increase in Research Papers Published on Single-Cell Sequencing

Now that single-cell sequencing technology is being used in clinical applications, the number of research papers published online on this topic has skyrocketed. Every month, more than 70 related records in this field are published on PubMed, one of the largest archives of biomedical and life sciences journal literature at the U.S. National Institutes of Health’s National Library of Medicine. While some of these papers only offer a brief introduction to the technology, some focus on investigating its application. This trend has already started to create opportunities for the Single-cell Genome Sequencing Market in a significant manner.

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The Report also Covers the Following Areas:

• Single-cell Genome Sequencing Market Size and Forecast
• Single-cell Genome Sequencing Market Trends
• Single-cell Genome Sequencing Market Analysis by Product Type

Single-cell Genome Sequencing Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain Analysis of key stakeholders
• Detailed Analysis of market drivers and opportunities during the forecast period
• Single-cell Genome Sequencing Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor Market Analysis including offerings, developments and financials
• Comprehensive Analysis of challenges and constraints in the Single-cell Genome Sequencing Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic has had a positive impact on the Single-cell Genome Sequencing Market. Single-cell genome sequencing studies have provided critical insights into coronavirus infection and allowed medical experts to better understand the nature of the infection. When single-cell sequencing was performed, most cell types from patients with COVID-19 showed both significant interferon-α and a general acute inflammatory response.
• The Russian invasion of Ukraine significantly affected the Single-cell Genome Sequencing Market. This not only affected the lives and work of genomic scientists in these countries but also affected relationships with colleagues in the United States and elsewhere. Sanctions against Russia are likely to halt experimental genomics research in the country. Several genomic research projects were underway in Ukraine before the start of the war. Now, amid all the turmoil, most Ukrainian scientists are fleeing the country and looking for positions in the West.

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List of Key Market Players in the Single-cell Genome Sequencing Market:

The Global Single-cell Genome Sequencing Market is dominated by the key companies listed below:

1. Standard BioTools Inc.
2. QIAGEN N.V.
3. Illumina, Inc.
4. Hoffmann-La Roche AG
5. Thermo Fisher Scientific, Inc.
6. Bio-Rad Laboratories, Inc.
7. 10X Genomics, Inc.
8. Becton, Dickinson and Company
9. Oxford Nanopore Technologies Limited
10. Beijing Genomics Institute Group
11. Pacific Biosciences of California, Inc.
12. NuGEN Technologies, Inc.
13. Novogene Co. Ltd.
14. Takara Bio, Inc.
15. Danaher Corporation

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