ALBANY, New York, October 4, 2018 /PRNewswire/ --
As per the TMR report, the global single-cell analysis market is foreseen to earn a US$6.4 bn by the end of 2025. The market is anticipated to expand with 15.4% CAGR within the forecast period of 2017 to 2025. On the basis of product, the market is anticipated to be dominated by consumables segment owing to the fact that the rise in single-cell analysis research will further increase the need to repeat orders for kits and reagents and this will furthermore contribute to generate high revenue for the overall market. Based on geography, North America is presumed to be leading the market share worldwide while Asia Pacific is still presumed to be growing at a faster rate in the coming years.
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Single-Gene Disorders Augmenting Demand of Single-Cell Analysis Market
The factor anticipated to boost the overall growth of the market is the rise in incidents of various infectious diseases and cancer which further increases the need for single-cell analysis. Apart from that, there is also the increase in awareness among people to take care of their own health which means the market will attract more revenue from the health and fitness conscious end users in the coming years.
Owing to the expansion in research and development on in-vitro fertilization and single-gene disorders, there is the need to employ single-cell analysis in order to investigate the human embryo before implantation. The market could also benefit from increasing neurological research, stem cell research, and cancer research. Thus, the need for single-cell analysis for the aforementioned purposes is an important factor expected to propel the single-cell analysis market in the future years to come.
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Asia Pacific to Witness Faster Growth with Rise in Medical Tourism
The global single-cell market is dominated by the regions of Asia Pacific, Europe, North America, Middle East and Africa and Latin America. Among these, The North American region is expected to be contributing major shares of revenue to the market worldwide, followed by Europe. This is because of factors like the rising awareness among common people regarding their health and growth in research funding.
However, Asia Pacific is anticipated to emerge as a faster growing region in the years to come owing to the declining treatment expenses, low technology price, rise in medical tourism. Besides that, factors like the important growth in genomics field and increase in preference of distribution agreements in between regional and regional players are also foreseen to augment the global single-cell analysis market in the years to come.
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In a recent report by Transparency Market Research (TMR), the vendor landscape of the global single-cell analysis market is anticipated to witness a stable growth in the years to come. This is due to the fact that emerging companies are focusing more on partnerships and collaborations with other leading players in order to remain in the competition as well as contribute to the overall growth of the market in the long run. The key growth of the single-cell analysis market is development of the product and this is thus estimated to boost the global market.
Some of the major players of the global single-cell analysis market are WaferGen Bio-systems, Dickinson and Company, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, and Fluidigm Corporation. The healthcare and pharmaceuticals companies are at the forefront of propelling the acceleration of the market worldwide. Major players are also putting more focus on the application of merger and acquisition strategies in order to uplift the growth and demand for single-cell analysis in the global market.
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The information presented in this review is based on 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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