The Global Single Cell Analysis Market in terms of revenue was estimated to be worth $3.1 billion in 2021 and is poised to reach $6.3 billion by 2026, growing at a CAGR of 15.1% from 2021 to 2026. Growth in this market is mainly driven by factors such as technological advancements in single-cell analysis products coupled with increasing R&D in the pharmaceutical and biotechnology industries, growing focus on personalized medicine, growth in stem cell research, and the rising prevalence of cancer. However, the high cost of single-cell analysis products is a major factor hampering the growth of the single-cell analysis market.
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Browse in-depth TOC on "Single Cell Analysis Market”
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Key Player
The global single-cell analysis market is highly consolidated. Key players in the market include Becton, Dickinson and Company (US), Danaher Corporation (US), Merck KGAA (Germany), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific, Inc. (US), 10x Genomics (US), Promega Corporation (US), Illumina, Inc. (US), Bio-Rad Laboratories (US), Fluidigm Corporation (US), Agilent Technologies, Inc. (US), Tecan Group Ltd. (Switzerland), Sartorius AG (Germany), Luminex Corporation (US), Takara Bio (Japan), Fluxion Biosciences (US), Menarini Silicon Biosystems, Inc. (Italy), bioMérieux SA (France), Oxford Nanopore Technologies (UK), Cytek Biosciences (US), Corning Incorporated (US), Apogee Flow Systems Ltd. (UK), NanoCellect Biomedical (US), Rarecyte Inc (US), and On-chip Biotechnologies Co., Ltd. (Japan). The key players in this market are increasingly focusing on strategic expansions, partnerships, to expand their manufacturing capabilities and increase market presence.
Single Cell Analysis Market Dynamics
Drivers: Growing prevalence of cancer
One of the most important application areas of single-cell analysis is cancer genomics. According to GLOBOCAN, the number of cancer cases will rise to approximately 30 million by 2040 from 19.3 million cases and 10 million cancer deaths in 2020. The growth in the prevalence of this disease has resulted in a need to conduct extensive research for diagnosis and treatment; single-cell analysis forms an important part of this research. The analysis of individual cells enables the correct diagnosis of diseases and monitoring of treatment efficacy. Single-cell analysis aids in the enumeration of helper T-cells, determination of DNA content, and monitoring the proliferation of tumor cells in breast cancer and other malignancies.
Restraints: High cost of single-cell analysis products
The cost of research in single-cell biology is high because of the need to maintain high-quality standards (the use of high-grade, expensive products) and comply with the guidelines set by regulatory authorities. However, research and academic laboratories find it difficult to afford such expensive instruments due to budget constraints. In addition, the maintenance costs and several other indirect expenses result in an overall increase in the total cost of ownership of these instruments. This is a major factor limiting the adoption of flow cytometers and microfluidic devices in both clinical and research applications.
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The Asia Pacific region is the fastest-growing region of the single-cell analysis market in 2020.
The market in the Asia Pacific is expected to grow at the highest CAGR of 17.4% during the forecast period. This can be attributed to the fast-growing pharmaceutical industry in this region, rising geriatric population, rising prevalence of cancer, and increasing government initiatives.
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