The global single-cell omics market is poised for substantial growth, projected to reach a value of USD 3.6 billion in 2024, with an anticipated CAGR of 19.5% over the forecast period. By 2034, the market is expected to skyrocket to USD 21.3 billion.
The burgeoning single-cell omics market is being fueled by several key factors. Foremost among them is the escalating demand for research and development initiatives aimed at pioneering effective cancer therapies. In a world grappling with the mounting burden of cancer, single-cell omics emerges as an indispensable tool, streamlining the intricate landscape of tumors.
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“With rising concerns regarding cancer worldwide, single-cell omics has become an essential tool in reducing the complexity of tumors.”
This exponential growth trajectory underscores the pivotal role of single-cell omics in revolutionizing the landscape of cancer research and treatment. As advancements in technology continue to unfold, the potential for unlocking new insights into disease mechanisms and therapeutic targets is boundless.
Key stakeholders, including biotechnology firms, pharmaceutical companies, and academic research institutions, are increasingly investing in the development and adoption of single-cell omics technologies. This strategic focus is poised to drive innovation and accelerate the translation of research findings into tangible clinical applications.
The transformative impact of single-cell omics extends beyond oncology, encompassing diverse fields such as immunology, neuroscience, and developmental biology. By enabling comprehensive profiling of individual cells with unparalleled resolution, single-cell omics is poised to catalyze breakthrough discoveries across a spectrum of scientific disciplines.
As the single-cell omics market continues to gain momentum, stakeholders are urged to capitalize on this unprecedented opportunity to shape the future of precision medicine and redefine the boundaries of scientific exploration.
“The need for precision medicine for targeted therapies is also expected to drive the demand for single cell omics. With increasing activities regarding drug discoveries and personalized medicines, the market is anticipated to witness substantial growth in the coming years,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Single Cell Omics Market:
- The single cell omics market is estimated to register a CAGR of 19.5% and reach a valuation of USD 21.3 billion by 2034.
- The single-cell genomics segment is anticipated to dominate the market and expand at a 19.3% market CAGR from 2024 to 2034.
- With a 19.1% market CAGR, the oncology segment is expected to drive the global market through 2024 to 2034.
Competitive Landscape:
The market is a dynamic and fiercely competitive, with a range of players offering both branded and generic drugs to consumers. The market is shaped by various factors such as government regulations, patent expirations, and advancements in drug development technology. With an increasing number of elderly individuals and a growing incidence of chronic pain conditions, the market is predicted to continue its upward trajectory in the years to come.
Recent Development:
In 2023, A life sciences company based in California, Singular Genomics Systems, Inc., has introduced its Max read kits for single cell applications on the G4 sequencing platform. The company is renowned for its innovative sequencing technologies that are developed for genomic and transcriptomic analysis. The latest addition to its repertoire is expected to cater to the rising demand for high-throughput single-cell sequencing.
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Key Market Players:
- Mission Bio
- RareCyte, Inc.
- Cytena
- WaferGen Bio-systems
- Dolomite Bio
- Menarini Silicon Biosystems
- NanoCellect Biomedical
- Sphere Fluidics
- 1CellBio
- OnRamp Bioinformatics
- 10x Genomics
- Illumina
- Thermo Fisher Scientific
- Fluidigm Corporation
- Becton, Dickinson and Company
- Bio-Rad Laboratories, Inc.
- Takara Bio, Inc.
- QIAGEN
- Norgen Biotek Corp.
- Fluxion Biosciences, Inc.
Key Market Segmentation:
By Product Type:
- Single-cell Genomics
- Single-cell Transcriptomics
- Single-cell Proteomics
- Single-cell Metabolomics
By Application:
- Oncology
- Cell Biology
- Neurology
- Immunology
- Other Applications
By End User:
- Academic and Research Organizations
- Pharmaceutical & Biotechnology Companies
- Hospital and Diagnostic Laboratories
- Other End-Users
By Region:
- North America
- Latin America
- East Asia
- South Asia
- Europe
- Oceania
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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