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