Kenneth Research recently added a report on Single Cell Omics Industry Marketin its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Single Cell Omics Industry Market along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:
As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation.
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The size of the global single-cell Omics market in 2021 is estimated to be ~USD 3 billion, and it is expected to expand at a compound annual growth rate (CAGR) of 17% from 2022 to 2030. The development of medical diagnostics (R&D), the availability of technologically advanced products, and the increasing popularity of single-cell analysis equipment are some of the factors that can be attributed to market growth.
Amplification and manipulation techniques have led to the application of high-throughput techniques in analysis, driving revenue growth. In addition, the rapid development of microfluidic devices has greatly expanded the application of single-cell genome/transcriptomics analysis in the field of biomedicine. The technological advancement of sequencing technology is changing the pattern of single-cell omics research activities, including transcriptomics, epigenomics, and epigenomics. Genomics. Significant improvements in sequence reproducibility and lower costs help to process large numbers of samples. The growing demand for analytical tools and technological advancements has led to the emergence of high-performance machines on the market. Several innovations have led to the introduction of new features, such as high sensitivity, accuracy and efficiency when using small samples.
Therefore, major players are investing a lot of money to develop solutions that will bring profitable opportunities for revenue generation in the near future. The ongoing COVID-19 pandemic has triggered the use of single-cell detection methods in virology research. Researchers are using these techniques to understand the immune characteristics of infected patients. For example, in a study published in January 2021, researchers from China conducted high-dimensional single-cell analysis to understand the peripheral immune response to COVID-19 infection.
The cancer market segment occupies a dominant market position, with the largest revenue share in 2020, exceeding 33%. Single-cell analysis has been proven to be effective for cancer cell pre-diagnosis, pushing this market segment forward. Using these techniques, mutation rates, cell proliferation conditions, and cell types can be easily identified.
A large number of research entities are dedicated to evaluating single-cell genomics and proteomics to study various therapeutic fields, such as neuroscience, cancer, and infectious diseases, which have led to the increasing use of single-cell analysis methods in diagnostic and therapeutic applications. Facts have proved that the increasing use of stem cell therapies is beneficial to the single-cell analysis market. The wide range of applications of stem cell therapy is expanding the scope of stem cell genomics, proteomics and epigenetics. Therapies such as hair regrowth, bone marrow transplantation, and organ transplantation are driving the adoption rate of single-cell detection technology.
Single cell isolation and library preparation market segments dominate, accounting for 25% of the largest revenue share in 2020. In view of the wide range of single-cell applications, the demand for library preparation and cell separation products (kits and reagents) is also high. In addition, a large number of companies provide products in this area, which in turn increases revenue growth. On the other hand, due to technological advances, such as the emergence of next-generation sequencing for cell expression analysis, the field of top-down analysis is making progress in recent years. In addition, the market is witnessing the increasing popularity of machine learning and artificial intelligence in data analysis. Various calculation methods have been developed and adopted because of their scalability, flexibility, and high success rate. Therefore, the high usage rate of such data analysis tools will stimulate market growth in the near future.
In 2020, the academic and research laboratory segment will occupy a dominant market position, accounting for the largest share of revenue over 65%. Single-cell analysis techniques are widely used in research environments. A large number of ongoing research projects using single cell analysis in universities have led to the increasing use of various single cell analysis in research environments.
The emergence of spatial genomics that accelerates single-cell analysis in research environments is another key factor driving the growth of this market segment. Academic researchers are committed to assessing the spatial heterogeneity of gene expression profiles at the individual cell level. In addition, single-cell transcriptomics helps neuroscientists understand the types of cells that make up the brain.
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Technological advancements, such as the use of microfluidics to develop next-generation therapies, have increased the adoption rate of single-cell analysis in the brain, biotechnology, and pharmaceutical industries. the company. In addition, the greater penetration of genomic technology in drug development will further drive the market. Quite a few pharmaceutical companies have invested in genomics to access various genomic databases.
North America dominates the single-cell analysis market and will have the largest revenue share in 2020, reaching 33%. This can be attributed to factors such as high government funding, increased personal medical expenditures, increased awareness and rapid adoption of new analytical methods. Availability of technical and qualified personnel. The United States is the main contributor to North Americas dominance. The exceptionally developed healthcare infrastructure, the increase in personalized medical spending, the increase in citizenship, and the increase in public and private funding for research projects are some of the key drivers of the market. Industry, fast-developing medical infrastructure, and increasing disposable income are driving the demand for advanced diagnostic tools in emerging Asia-Pacific economies. The concentrated efforts are expected to boost the market in the region and represent the highest compound annual growth rate during the forecast period. Key companies and market share prospects: Key companies focus on developing innovative and technologically advanced products to meet the needs of consumers. For example, in February 2021, SeqWell Inc.
Launched the plexWell single cell rapid kit for single cell RNA sequencing. It is used to simplify the preparation of NGS libraries. In addition, the company has signed a distribution agreement with CELLINK AB in February 2021 to commercialize its products to expand its business outside the United States. These company moves are expected to intensify market competition. As these technologies are increasingly used in diagnostic applications, this market space has continued to grow in recent years. The increasing prevalence of genetic diseases has led to a growing demand for early diagnosis. This creates lucrative opportunities for emerging players to capture untapped market channels. Some of the major players in the single-cell analysis market include: Thermo Fisher Scientific Inc. QIAGEN NV Bio-Rad Laboratories Inc. Illumina Inc. Merck Millipore Becton Dickinson & Company Fluidigm Corporation 10x Genomics, Inc. BGINovogene Corporation
Market Segments Covered by the Report:
This report forecasts global, regional and national revenue growth, and analyzes the latest industry trends in each market segment from 2022-2030. For the purpose of this research, Kenneth Research analyzes the global single cell market report based on product, application, workflow, end use and region: Product outlook (revenue, millions of dollars, 2022-2030 consumable reagent testing kit Instrument Microscope Hemocytometer Flow Cytometer NGS PCR System High-Content Detection System Outlook (Revenue, USD million, 2022-2030) Cancer Immunology Neurology Stem Cell Non-invasive Prenatal Diagnosis In Vitro Fertilization Other USD 28 Million Workflow Isolation and Library Preparation 2028) Academic and research laboratories Research biotechnology and pharmaceutical companies Hospitals and diagnostic laboratories Other Thermo Fisher Scientific Inc. QIAGEN NVBio-Rad Laboratories Inc. Illumina Inc. Merck Millipore Becton Dickinson & Company Fluidigm Corporation 10x Genomics, Inc. BGIN Gene Corporation.
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