Single-cell Omics Market Regional Analysis:
North American Market Insights
The North America single-cell omics market is projected to be the largest with a share of about 40% throughout the analyzed timeframe. The growth of this landscape is credited to the rising investment in advanced healthcare technologies, backed by the strong presence of global MedTech pioneers. In this regard, in July 2024, Illumina acquired Fluent BioSciences to accelerate single-cell analysis and discovery to a broader customer base. The growing popularity and commercial participation in genomics, molecular diagnostics, and bioinformatics are also contributing to the region’s leadership.
The U.S. is augmenting the single-cell omics market with an enlarging biotechnology industry and a strong emphasis on biopharmaceutical R&D. As per the Pharmaceutical Research and Manufacturers Association, the biotech industry in this country secured 13.0% of the total venture capital investments in 2023. It also mentioned that the R&D expenditure by U.S.-based biopharmaceutical companies totaled up to USD 96.0 billion in the same year. Similarly, in 2022, the foreign-owned biopharma firms spent USD 26.0 billion in this category. This scenario reflects the rigorous activity and continuous capital influx in this sector.
APAC Market Insights
The Asia Pacific single-cell omics market is expected to be the second largest, with a share of over 27% and a remarkable CAGR of 18% over the discussed period. The rise in the collaboration of companies is poised to bring new business opportunities for this landscape. For instance, in December 2021, Mission Bio partnered with SequMed to provide Tapestri Services and co-develop novel single-cell assays in China. This partnership was aimed at combining the capabilities of products from both the companies to expand their applications to cope with the nationwide surge for innovations in reproductive genetics and clinical diagnosis. Such events showcase the growing interest of local and foreign investors in this merchandise.
India is emerging as one of largest hub of biopharmaceutical innovators and manufacturers in the single-cell omics market. Several factors, such as the emphasizing MedTech industry, foreign investments, and large patient pool, are accumulatively contributing to this nation’s progress in this field. On this note, IBEF estimated the biotechnology industry in India to generate a value of USD 300.0 billion by 2030. It also mentioned that the country is the biggest supplier of affordable vaccines, accounting for 50.0% of the global demand. These figures highlight the significance of India as a lucrative opportunity of investment and profitable trading for global pioneers.
