Cell Viability Assays Market - Know More About the Key Players
2022-05-05 05:24:34 UTC | Others
Major Growth Boosting Factors:
Factors such as rising incidence and prevalence of chronic and infectious diseases, growing availability of funds for research and rising demand for cell-based assays in research, and increasing focus on the development of cell-based therapeutics are driving the growth of Cell Viability Assays Market. The emerging markets are expected to provide growth opportunities for players operating in the cell viability assays market in the coming years. However, the high cost of instruments is expected to restrain the growth of this market to a certain extent during the forecast period.
Expected Global Revenue Growth:
The global cell viability assays market is projected to reach USD 4.16 billion by 2023 from USD 2.78 billion in 2018, at a CAGR of 8.4%.
Global Leading Players:
Players in the global cell viability assays market, such as Thermo Fisher Scientific (US), Bio-Rad Laboratories (US), Merck (Germany), GE Healthcare (US), BioTek Instruments (US), PerkinElmer (US), Promega Corporation (US), Biotium (US), Abcam plc (UK), Canvax (Spain), Abnova (Taiwan), G-Biosciences (US), Creative Bioarray (US), Danaher Corporation (US), and Becton, Dickinson and Company (US).
Different Growth Strategies Adopted:
The global key players are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies of product launches, expansions, agreements, collaborations, and acquisitions.
Thermo Fisher is the leading player in the cell viability assay kits market. The company offers a broad portfolio of cell viability assays for flow cytometers, microplates, biofilm imaging, along with other consumables ranging from reagents to stains and dyes. The company’s stronghold in the market is largely due to its strong product portfolio and strong customer relations and its strong sales and distribution network.
It also leverages the advantage of three well-established brands Thermo Scientific, Fisher Scientific, and Unity Lab Services. Additionally, its large number of production sites gives it a competitive advantage over other players in the cell viability assays market. The company’s extensive R&D activities enable it to increase its depth of capabilities in technologies, software, and services. Moreover, its significant investments in R&D enable it to provide innovative products in the market space, thus enabling it to maintain and improve its competitive position in the cell analysis market.
Merck is the second-largest player in the global cell viability assay kits market in 2018. With a strong brand name and wide geographic coverage in more than 60 countries, Merck has a well-established presence in this market. This company is expected to witness high growth in this market by adopting various organic and inorganic growth strategies. With regard to providing innovative products, Merck invests a significant amount of its sales revenue in R&D. In 2017, it invested around 14% of its sales revenue into R&D.
This allows the company to extend its technological capabilities and provide superior-quality products, thereby helping it to achieve long-term growth. The company is also investing a large sum in its expansion projects to increase its production capacity and cater to a larger consumer base. In this regard, the company invested USD 19 million in its new manufacturing and distribution center for the Life Science business in India, in 2018.
# Manufacturers of cell viability instruments and consumables
# Distributors of cell viability instruments and consumables
# Research and development organizations
# Hospitals and clinics
# Diagnostic centers
# Market research and consulting firms
# Venture capitalists and investors
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Geographical Growth Dynamics:
Geographically, the global cell viability assays market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America is expected to account for the largest share of the cell viability assays market, followed by Europe and Asia Pacific. The dominance of the North American region can be attributed to the growing incidence of various infectious diseases, investment initiatives by the government, and the high-quality infrastructure for clinical and laboratory research.
Various additional advantages such as the availability of insurance coverage for laboratory testing procedures, rising healthcare and R&D expenditure, and the presence of well-structured distribution channels in the region are also supporting the growth of the market.