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Growth of the Single Cell Genome Sequencing Market to be Propelled by Increasing R&D Activities and Healthcare Expenditure During 2021 – 2028

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Research Nester published a report titled “Single Cell Genome Sequencing Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global single cell genome sequencing market in terms of market segmentation by product, application, end user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The global single cell genome sequencing market garnered USD 1,133.48 million in 2019 and is estimated to attain USD 4,405.78 million by 2028, by growing at a CAGR of 16.25% over the forecast period, i.e., 2021-2028. The growth of the market is driven by multiple factors such as increasing prevalence of the genetic disorders, growing demand for targeted sequencing technologies, and recent advancement in DNA sequencing technology globally. Based on end-user, the market is segmented into hospitals, clinics, research & academic institutions and biotechnology & pharmaceutical companies, out of which, the research & academic institutions segment held the leading market share in 2019 and is estimated to account for a market size of around USD 830 million in 2020 owing to rising investment by government and private bodies to enhance the research capacities to improve genomics studies worldwide as part of academic research.

Regionally, the growth of the global market is analyzed on the basis of market growth in 5 major regions, i.e., North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Owing to rising number of disease indications requiring genetic screening in North America, the market in this region accounted for highest share of 42.31% in 2019. In North America, the highest growth is driven by the U.S. market owing to adoption of innovative research practices in the country.

Rising Research & Development Activities

Over the years, rising geriatric population and prevalence of chronic diseases has increased the healthcare spending around the globe. Additionally, rise in investment by government and other authoritative bodies in numerous research programs are some of the major factors contributing to the growth of the market. For instance, as per the statistics by Health System Tracker, the amount spent on health doubled to USD 3.5 trillion in 2017 in the U.S. comprising spending on healthcare and health-related activities.

However, several regulatory constraints associated with the development of the single cell genome sequencing technology are expected to hinder the growth of the market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global single cell genome sequencing market which includes company profiling of Qiagen (NYSE:QGEN), F. Hoffmann-La Roche Ltd. (SWX: RO), Agilent Technologies, Inc. (NYSE: A), Thermo Fisher Scientific Inc. (NYSE:TMO), Illumina, Inc. (NASDAQ: ILMN), Bio-Rad Laboratories, Inc. (NYSE: BIO), Oxford Nanopore Technologies, Pacific Biosciences of California, Inc. (NASDAQ: PACB), and Novogene Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global single cell genome sequencing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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