PUBLISHER: Grand View Research | PRODUCT CODE: 1362926
PUBLISHER: Grand View Research | PRODUCT CODE: 1362926
The global single cell genome sequencing market size is anticipated to reach USD 7.55 billion by 2030, according to a new report by Grand View Research, Inc.. The market is projected to grow at a CAGR of 16.1% from 2023 to 2030. Factor such as the increasing prevalence of chronic diseases like cancer, diabetes, and arthritis; advanced technology coupled with the latest collaborative efforts; increased investments in R&D; and rising geriatric population are anticipated to drive the market growth over the forecast period.
Active participation and contribution of market players toward product upgradation play an important role in the growth of the market. Increasing number of collaborations and strategic alliances between companies are fostering the development of a collaborative portfolio in the system. Moreover, the emergence of next-generation sequencing (NGS) has helped the market gain tremendous traction over the past few years. Earlier, single-cell genome sequencing market was dominated by PCR and microarray technologies. However, qPCR and NGS are increasingly emerging as the preferred technologies.
Furthermore, the rising number of single-cell genome sequencing centers & associated facilities worldwide is fostering growth prospects. The main objective of such entities is to develop novel single-cell genome sequencing-based applications and methods. These centers are also playing a major role in introducing advanced tools & instruments for scientific communities of various regions. In addition, public-private collaborations among governments, companies, and research institutions related to space are expected to promote more research initiatives. Various funding grants by NIH and private players such as Mission Bio are escalating the growth of the market.