Single-Cell Analysis Market to Rise with a Strong CAGR of 15.4% by the End of 2025
The global single-cell analysis market is highly consolidated in nature. Major players in the market holds the significant share in market, reports Transparency Market Research in a newly published report. In order to outrun each other, top players in the market are relying on innovation and development. Players are focusing extensively on production of new products to attract more consumers in the single-cell analysis market. Partnerships and collaborations with regional and other players in the market are also likely to help the global players to gain traction in other pockets of the region. Some of the major players in the market are Thermo Fisher Scientific Inc., Eppendorf AG, Becton, Dickinson and Company, 10x Genomics, Bio-Rad Laboratories Inc., Illumina Inc., and NuGEN Technologies.
According to TMR, the global single-cell analysis market is anticipated to expand at a robust CAGR of 15.4% during the assessed period, 2017 – 2025 on the basis of revenue. At this rate, the global single-cell analysis market will reach a market valuation of US$6.5 bn by the end of the forecast period. The market on the basis of product type is bifurcated into consumables and instruments. Of these, consumables are anticipated to hold a dominant share during the assessed period. On the basis of geography, the market is North America holds a lion’s share owing to rise in funding for improved infrastructure, research, incessant rise in cancer cases, and increasing awareness among consumers. Riding on these factors, North America is anticipated to exhibit a stellar CAGR in the coming years.
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Rising Demand from Healthcare Sector Promotes Market Growth
Rapid Advancement in the healthcare sector all across the world is helping the market to grow stupendously. The healthcare industry in countries such as China, India, and Japan is likely to thrive in the coming years due to prevalence of various chronic disorders all across the world. This is anticipated to bolster the demand in the global single-cells analysis market. Government in various emerging countries such as India and China are investing in research activities in order to bring new developed and advancement treatment for various diseases. This is anticipated to favor the growth of the market during the forecast period. Significant rise in healthcare expenditure is also expected to augment the growth of the market.
Collaboration and Partnership among Key Players to Favor Market Growth
Heavy investments in research and development from government is considered as one of the primary driver of the market. Research on single-cell analysis is considered to be exorbitant, and apart from major players, new and small players are unable to bear such exorbitant expenses. Aid from government end is likely to make the market flourish. Except this, partnerships and collaboration among major players to produce new platforms for single-cell analysis is anticipated to augment the market growth. Several players in the Asia Pacific region are known to sign in distribution agreement to satisfy demand in various pockets of a region.
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The review presented is based on the findings of a TMR report, titled “Single-Cell Analysis Market (Product – Instruments, Consumables; End User – Hospitals, Research Labs, Diagnostic Centers, Biotechnology and Biopharmaceutical Companies) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
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