Market Demand in the Single-Cell Genomics Sector Expected to Rise
The single-cell genomics discipline has become an essential component of biological research. These technologies are playing key roles in various scientific fields such as infections disease treatments, cancer research and neurological studies. As a result, more companies are offering related products to fulfill end-user demand.
In December 2020, Kalorama Information released its “ Single-Cell Genomics Market” report, which gives an overview of the current market situation. Specifically, the report details the market outlook, R&D trends, potential market challenges and selected product developments. Additionally, the report highlights the leading vendors offering single-cell genomics technologies, including 10x Genomics, Agilent Technologies, Bio-Rad Laboratories, Fluidigm, Illumina and QIAGEN. For the report, Kalorama utilized primary and secondary research such as quarterly financial reports, industry publications and other credible resources.
According to the report, in 2020, sales of single-cell genomics products were valued at $519 million and are forecast to grow at a high single-digit CAGR through 2025. The report notes that increased funding from the National Institutes of Health, the decreased cost of sequencing technologies and advancement in RNA-sequencing are among the many positive drivers for the market. Additionally, the single-cell genomics market has benefitted from technologies specialized in multi-omics analysis, which involves utilizing various “omics” disciplines such as genomics, proteomics and transcriptomics to collect and analyze complex and large volumes of biological data.
Despite a bright outlook, the report highlights some of the challenges the single-cell genomics market is currently facing. Overall, companies that offer single-cell genomics technologies face difficulties such as dealing with potential data analysis errors as a result of managing high volumes of sequencing data output. Additionally, companies have been involved in various litigation cases concerning IP, M&A and other business dealings. Lastly, the COVID-19 pandemic caused disruption in product sales in the beginning of 2020 that may continue.
In conclusion, the single-cell genomics sector is projected to have a significant presence in the overall scientific technology market through 2025. Consequently, highlighted technologies in the report are forecast to have a large presence in various scientific fields.
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