CHICAGO, June 19, 2020 /PRNewswire/ -- According to the new market research report "Cell Counting Market by Product (Instruments (Spectrophotometer, Hemocytometer, Flow Cytometer, Hematology Analyzers), Consumables (Reagent, Microplate)), Cancer, Stem Cell Research, End User (Pharmaceutical, Hospital, Research) - Global Forecast to 2025", published by MarketsandMarkets, the Cell Counting Market is projected to reach USD 14.5 billion in 2025 from USD 10.4 billion in 2020, at a CAGR of 6.7 % during the forecast period.
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The Market growth is largely driven by factors such as growing funding for cell-based research, rising incidence of chronic and infectious diseases, growing biotechnology and biopharmaceutical industries, the development of enhanced solutions and improved image analysis, and the growing use of high-throughput flow cytometry and automated hematology analyzers. On the other hand, the high cost of cell analysis is expected to hinder market growth to a certain extent.
By application, the research application segment accounted for the largest share of the Cell Counting Market
On the basis of application, the market is segmented into research, medical, and industrial applications. In 2019, research applications accounted for the largest share of the market. Increasing government initiatives in stem cell research and the wide usage of cell counting in research are the major factors driving the growth of the research applications segment.
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By end user, the research institutes segment accounted for the largest share of the market
On the basis of end users, the market is segmented into research institutes, hospitals & diagnostic laboratories, pharmaceutical & biotechnology companies and CROs, and other end users. In 2019, research institutes accounted for the largest share of the market. The large share of this segment can primarily be attributed to the growing regulatory approvals for cell culture-based vaccines, increasing pharmaceutical R&D expenditure, and commercial expansion of various pharmaceutical companies.
By product, the consumables segment accounted for the largest share of the market
On the basis of product, the Cell Counting Market is broadly segmented into consumables and instruments. The consumables segment dominated the market in 2019 and is also expected to be the fastest-growing segment during the forecast period. By type, the media, sera, and reagents segment accounted for the largest share of the cell counting consumables market in 2019. The large share and high growth of the consumables segment can primarily be attributed to the frequent purchase of these products as compared to instruments, which are considered a one-time investment.
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By region, North America accounted for the largest share of the market
The Cell Counting Market is divided into five major regions - North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America accounted for the largest share of the market, followed by Europe. The large share of the North American market can be attributed to the increasing demand for technologically advanced instruments in research and diagnostic applications and the high prevalence of target conditions, coupled with the increasing demand for early and effective disease diagnosis and treatment.
Key Market Players
The major companies in the Cell Counting Market are Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), Becton, Dickinson and Company (US), Merck KGaA (Germany), and Bio-Rad Laboratories (US).
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