Global Single Cell Genome Sequencing Market Outlook 2028

Global Single Cell Genome Sequencing Market

The single cell genome sequencing market is anticipated to grow in upcoming years on the back of rising prevalence of the genetic disorders, increasing demand for targeted sequencing technologies, and recent advancement in DNA sequencing technology around the globe. The market garnered revenue of USD 1,133.48 million in 2019 and is estimated to touch USD 4,405.78 million by 2028, by registering a CAGR of 16.25% over the forecast period, i.e., 2021-2028. Rising healthcare expenditure, increasing R&D activities coupled with growing development in the Next Generation Sequencing (NGS) technology are some of the major indicators driving the market growth. However, stringent government regulations pertaining to single cell genome sequencing technology might negatively affect the market growth.

In terms of market segmentation, the global single cell genome sequencing market is segmented by product, application, end-user and by region. Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa, out of which, the market in North America accounted for leading share (42.31%) in 2019 owing to rising number of disease indications needing genetic screening. The market is bifurcated into reagents and instruments based on the product segment. Among these segments, instruments segment is estimated to attain a CAGR of around 15% over the forecast period.

Some of the leading market players in the global single cell genome sequencing market are Qiagen, F. Hoffmann-La Roche Ltd., Agilent Technologies, Inc., Thermo Fisher Scientific, Illumina, Inc., Bio-Rad Laboratories, Inc., Oxford Nanopore Technologies, Pacific Biosciences of California, Inc., and Novogene Co., Ltd.