CHICAGO, Oct. 28, 2019 /PRNewswire/ -- According to the new market research report "Cell Analysis Market by Product [Microscope, Spectrophotometers, Flow cytometry (Software, Accessories)], Process (Cell Viability, Cell Proliferation, Signal Transduction), End User (Pharma, Research, Biotechnology Companies) - Global Forecast to 2024", published by MarketsandMarkets, 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
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The 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.
In 2018, the flow cytometry products segment accounted for the largest share of the cell analysis market
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.
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The pharmaceutical & biotechnology companies and CROs segment to grow at the highest CAGR during the forecast period
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.
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North America was the largest regional market for cell analysis in 2018
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.
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).
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