Increasing
government funding for cell-based research and the rising incidence of chronic
and infectious diseases are the major factors driving the growth of this
market.
The
Cell Analysis Market is
expected to reach USD 22.7 billion by 2024 from USD 16.0 billion in 2019, at a
CAGR of 7.2%. from 2019 to 2024
Market
Segmentation:-
Based
on product, the cell analysis market is broadly categorized into microscopes,
flow cytometry products, spectrophotometers, qPCR products, cell counters, cell
microarrays, high-content screening (HCS) systems, and other products. The flow
cytometry products segment accounted for the largest market share in 2018. The
large share of this segment is primarily attributed to technological
advancements, the increasing adoption of flow cytometry techniques in research
and academia, growing public-private initiatives in the field of immunology and
immuno-oncology research, and the rising incidence and prevalence of chronic
diseases.
Based
on end user, the cell analysis market is segmented into hospitals &
diagnostic laboratories, research institutes, pharmaceutical &
biotechnology companies and CROs, cell culture collection repositories, and
other end users. The pharmaceutical & biotechnology companies and CROs
segment is expected to register the highest CAGR during the forecast period.
These facilities use cell analysis instruments and consumables during various
stages of drug discovery, drug research and development, pharmacokinetics,
toxicology, and clinical studies. Growing regulatory approvals for cell
culture-based vaccines, increasing pharmaceutical R&D expenditure, and
commercial expansion of various pharmaceutical companies are driving the growth
of this end-user segment.
Regional
Analysis: -
By
region, the cell analysis market is segmented into North America, Europe, the
Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North
America accounted for the largest market share, followed by Europe. Factors
such as the presence of a favorable business environment, growing government
support through funds and grants, growing number of research activities, rising
number of drug discovery initiatives by pharmaceutical & biotechnology
companies in the US, and the strong presence of key players in this region are
driving the growth of the cell analysis market in North America.
Top
Key Players:-
The
prominent players operating in the cell analysis market are Danaher Corporation
(US), Thermo Fisher Scientific (US), Becton, Dickinson and Company (US), Merck
KGaA (Germany), GE Healthcare (US), Agilent Technologies, Inc. (US), Olympus
Corporation (Japan), PerkinElmer, Inc. (US), Promega Corporation (US), Tecan
Group (Switzerland), Miltenyi Biotec (Germany), Carl Zeiss (Germany), Bio-Rad
Laboratories Inc (US), and Sysmex Corporation (Japan).