Growing Need for Personalized Medicine to Stimulate Growth of the Single Cell Genome Sequencing Market

Single Cell Genome Sequencing Market 


Market Overview:

Single cell genome sequencing enables analysis of DNA or RNA of individual cells. It helps understand genetic variations within a population of cells such as tumor microenvironment or response of immune cells. Single cell genome sequencing finds applications in disease pathogenesis research, rare cell analysis, cell differentiation, and developmental biology studies. It provides precise insights into cellular behavior and heterogeneity which helps develop personalized treatment strategies. Growing prevalence of chronic diseases and need for precision medicine is a key factor driving demand for single cell genome sequencing.

Market key trends:
The advent of massively parallel, high-throughput single cell sequencing technologies is a key trend shaping the market. Technological advancements such as the development of microfluidic systems to automate single cell analysis and next-generation sequencers are enabling high-throughput single cell sequencing of thousands of cells. This is improving accuracy and reduces costs. For instance, Oxford Nanopore Technologies’ MinION device allows portability and real-time analysis of single cells. Growing R&D investments by biopharma players to study complex disease pathogenesis at single cell level and develop targeted therapies is another major trend fueling the market growth. Launch of new products with enhanced capabilities for immune profiling, neo-antigen detection and heterogeneity analysis in diseases like cancer is expected to drive the single cell genome sequencing market during the forecast period.
Porter’s Analysis

Threat of new entrants: Low barrier for entry but high capital requirement to set up infrastructure for single cell genome sequencing poses low threat.

Bargaining power of buyers: Large pharmaceutical and biotechnology companies have strong bargaining power due to their size and demand volume.

Bargaining power of suppliers: Few technology providers dominating the market leads to high bargaining power of suppliers.

Threat of new substitutes: Limited threat as single cell sequencing enables analysis at single cell resolution and provides advantages over traditional bulk cell sequencing techniques.

Competitive rivalry: Intense competition among established players to gain higher market share through capacity expansion, product launches, and technological innovations.

Key Takeaways

The global Single Cell Genome Sequencing Market is expected to witness high growth, exhibiting CAGR of 14% over the forecast period, due to increasing demand for genetic variations and biomarkers research at single cell resolution.

North America dominated the market in 2023 with over 40% revenue share owing to presence of advanced research infrastructure, increase in R&D expenditure by biotechnology and pharmaceutical companies for precision medicine. Asia Pacific is anticipated to witness fastest growth during the forecast period supported by rising genomics research and government funding in countries such as China and India.

Key players operating in the single cell genome sequencing market are Oxford Nanopore Technologies plc (U.K.), 10x Genomics (U.S.), BGI Genomics (China), Fluidigm Corporation (U.S.), 1CellBio Inc. (U.S.), MissionBio (U.S.), Novogene Co. Ltd. (China) among others. The established players are increasing their investments on product launches and capacity expansion to strengthen their market position.

Read More:

https://www.dailyprbulletin.com/growth-of-single-cell-genome-sequencing-market/

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