Cell Analysis Market by Offering [Consumables, Instruments, and Software], Application [Cell Identification, Cell Viability, Cell Signaling Pathway/Signal Transduction, Cell Proliferation, Cell Counting & Quality Control, Target Identification & Validation and Single-cell Analysis], End User [Hospitals & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Academic & Research Institutes] – Global Outlook & Forecast 2021-2031
According to the deep-dive market assessment study conducted by Growth+ Reports, the global cell analysis market was pegged at ~US$ 17.12 billion in 2020. The market is expected to witness a CAGR of ~7% from 2021 to 2031.
Rising incidence of chronic diseases coupled with the application of cell analysis in personalized medicine, increasing drug discovery & development activities, and technological advancements are some of the pivotal factors propelling the growth of the cell analysis market. However, high cost of cell analysis instruments and experiments is likely to restrain market the growth to a certain extent.
Government bodies and numerous organizations across the globe are implementing several initiatives to fast-track the development of cell analysis by providing the necessary funding, grants, permissions, clearances & approvals to meet the needs of the healthcare sector. For instance, in Oct 2019, NanoCellect Biomedical Inc. received a $1.5 million Phase II Small Business Innovation Research (SBIR) grant through the National Institutes of Health’s National Institute on Drug Abuse to continue its development of imaging flow cytometry technology to sort cells based on high-content 3D image features.
Personalized medicine is a practice of medicine that uses an individual’s genetic profile to guide decisions made, in regard to the diagnosis, prevention, and treatment of diseases. Biomarkers play a key role in personalized medicine, in diagnosis, prognosis, and selection of targeted therapies for patients. Cell analysis finds its application in search of better diagnostic and prognostic biomarkers. Therfore, rising demand form patients suffering from immunological disorders and cancer for customized treatment is expected to boost the growth of the cell analysis market.
In an effort to maintain their position in market, prominent players are continuously launching several novel and advanced cell analysis systems & test kits that can offer more advantages. For instance, in Jul 2020, Hitachi, Ltd. and ThinkCyte, Inc. entered into a collaboration with an aim to focus on developing an artificial intelligence (AI) driven cell analysis and sorting system.
However, high cost of cell analysis instruments and experiments is expected to restrain the market to a certain extent. For instance, single-cell experiments are very expensive due to sequencing costs associated with high-throughput experimental methods. For a single-cell sequencing experiment, single cells is processed in individual reactions, each of which requires its own set of reagents and this drastically increases the total amount of reagents needed. Therefore, for single-cell sequencing, reagents costs are 10 to 20 times higher than for traditional bulk RNA sequencing.
The Asia Pacific region is projected to be the fastest growing cell analysis market. The high growth of the region can mainly be attributed to presence of large patient pool, developing healthcare infrastructure, rising R&D investments by prominent pharmaceutical & biotechnology companies for drug research & development, growing trend of outsourcing drug discovery services in the region and presence of a less stringent regulatory environment as compared to most developed countries. Countries such as India and China in the APAC region are expected to offer significant growth opportunities owing to high clinical unmet needs, increasing prevalence of chronic diseases and rising geriatric population in the region.
Some of the prominent players operating in the cell analysis market are Beckman Coulter, Inc., Thermo Fisher Scientific, BD, Merck KGaA, Cytiva, Agilent Technologies, Inc., Olympus Corporation, PerkinElmer Inc., Promega Corporation, Sysmex, among others.