Singapore Genomics Market Insights Forecasts to 2033

• The Singapore Genomics Market Size was valued at USD 38.5 Million in 2023.
• The Market is growing at a CAGR of 17.03% from 2023 to 2033
• The Singapore Genomics Market Size is expected to reach USD 185.5 Million by 2033

The Singapore Genomics Market Size is anticipated to exceed USD 185.5 Million by 2033, Growing at a CAGR of 17.03% from 2023 to 2033. The increasing public awareness, advancements in cancer treatment, and the trend of personalized medicine are driving the growth of the genomics market in Singapore.     

Market Overview

Genomics refers to the study of the genome or set of DNA of the organism. This helps researchers understand the interaction of genes with each other and with the person’s environment. Using a potent array of technologies like bioinformatics, microarrays, and next-generation sequencing (NGS), genomics aims to comprehend all of the DNA and genetic material and progress the practical application of that knowledge. With top-notch facilities like the Singapore-MIT Alliance for Research and Technology (SMART) Center and the Genome Institute of Singapore (GIS), Singapore is a major center for genomics and biodata research. The knowledge of genomics for the development of personalized medicine offers market opportunities. Further, genomics is necessary to produce novel bioproducts like enzymes and biofuels, which is advantageous in the biotechnology industry.

Report Coverage

This research report categorizes the market for the Singapore genomics market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Singapore genomics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Singapore genomics market.

Driving Factors

Genomics is one of the top domains of priorities within Singapore’s healthcare system. The rising research and development in genomics are driving the market. As per a report published by Netherlands Enterprise Agency Prinses Beatrixlaan, the Singaporean government has mobilized government-backed institutions to propel precision medicine advancements by working with other public and commercial research entities to create an extensive library of Asian-centric genomes as part of its research and innovation plan. Further, the advancement of genomic testing for individualized cancer treatment is driving market growth.      

Restraining Factors

The concerns over the security of large volumes of genetic data that are collected and stored are challenging the Singapore genomics market. The ethical issues and stringent laws make genetic testing and research more difficult and expensive, ultimately restraining the market growth.

Market Segmentation

The Singapore Genomics Market share is classified into products & services, technology, application, and end user.

• The consumables & reagents segment held the largest revenue share of the Singapore genomics market in 2023.

The Singapore genomics market is segmented by products & services into consumables & reagents, services, and instruments, systems, & software. Among these, the consumables & reagents segment held the largest revenue share of the Singapore genomics market in 2023. Consumables & reagents are widely used for genomic testing. The growing number of genomic tests for analyzing genetic changes in a person’s genetic material is responsible for driving the market.

• The sequencing segment is anticipated to hold the largest market share during the forecast period.

The Singapore genomics market is segmented by technology into sequencing, PCR, flow cytometry, microarrays, and other. Among these, the sequencing segment is anticipated to hold the largest market share during the forecast period. DNA sequencing is the technology that generates raw data for the development of molecular biology, genomics, and bioinformatics fields. The widespread application of sequencing technologies such as animal breeding, agriculture, and human genomics is propelling the market.

• The drug discovery & development segment accounted for the largest market share during the forecast period.

The Singapore genomics market is segmented by application into drug discovery & development, diagnostics, agriculture & animal research, and others. Among these, the drug discovery & development segment accounted for the largest market share during the forecast period. Understanding the genetic variations linked to different diseases is possible by utilizing next-generation sequencing (NGS) and other genomic analysis tools. The rising R&D activities on diseases including cancer and genetic disorders are escalating the market growth.

• The pharmaceutical & biotechnology companies segment dominated the Singapore genomics market in 2023.       

Based on the end user, the Singapore genomics market is divided into hospitals & clinics, academic & research institutes, pharmaceutical & biotechnology companies, and others. Among these, the pharmaceutical & biotechnology companies segment dominated the Singapore genomics market in 2023. The adoption of spatial genomics and transcriptome technologies is propelling the market in the pharmaceutical & biotechnology companies segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Singapore genomics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Genome Institute of Singapore (GIS)
• NovogeneAIT Genomics
• Molecular Genomics
• Illumina
• ACT Genomics
• Agilent Technologies
• Thermo Fisher Scientific
• Qiagen N.V.
• Danaher Corporation
• Perkin Elmer
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2024, PacBio announced a Research Collaboration Agreement with the National Cancer Centre of Singapore (NCCS) to accelerate cancer research using PacBio's advanced sequencing technologies. The collaboration would focus on profiling prevalent cancers in Asia using the Onso short-read sequencing system and Kinnex long-read sequencing kit, with emphasis on single-cell RNA sequencing.

• In February 2024, Lifebit, a global leader in genomics and health data software, announced its expansion into Asia Pacific and Japan (APJ) with its new regional operation headquartered in Singapore.

• In May 2022, Precision Health Research, the lead entity implementing Singapore's National Precision Medicine strategy, has teamed up with genomics technology firm Illumina, for a large-scale population study on diseases relevant to Asian people.

Market Segment

This study forecasts revenue at Singapore, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Singapore Genomics Market based on the below-mentioned segments:

Singapore Genomics Market, By Products & Services

• Consumables & Reagents
• Services
• Instruments, Systems, & Software

Singapore Genomics Market, By Technology

• Sequencing
• PCR
• Flow Cytometry
• Microarrays
• Other

Singapore Genomics Market, By Application

• Drug Discovery & Development
• Diagnostics
• Agriculture & Animal Research
• Others

Singapore Genomics Market, By End User

• Hospitals & Clinics
• Academic & Research Institutes
• Pharmaceutical & Biotechnology Companies
• Other