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According to Transparency Market Research, the single-cell analysis market is anticipated to reach US$6.5 bn by 2025 at a CAGR of 15.4% from 2017 to 2025.
Geographically, North America is likely to remain the dominant contributor to the global single-cell analysis market despite the steady growth of the market in Asia Pacific. Europe is also likely to remain a valuable contender in the global single-cell analysis market. By product type, consumables are likely to remain the leading revenue generator due to the need for repeat demand for various single-cell analysis consumables.
Rising Government Support to Drive Single-cell Analysis Market
Growing funding from government agencies for research on single-cell analysis is likely to remain a key driver for the single-cell analysis market in developed countries. For instance, the National Institute of Health (NIH) provided funding to Bell Biosystems, Inc. to carry out research on a project titled “Single Cell Spatiotemporal and Functional Reporting Using Magneto-endosymbionts” in 2015 and has remained a consistent contributor to advancements in the cellular research sector. In addition, the growing number of partnerships among key players to develop innovative platforms for single-cell analysis contributes to the growth of the market.
The rising focus on life sciences research in EU countries such as Germany, Spain, and Italy is a leading driver for the global single-cell analysis market. Germany houses more than 700 life sciences companies, leading to the country emerging as a leading regional contender in the global single-cell analysis market. Healthcare research has also prospered in Western Europe in recent years, leading to steady growth of the single-cell analysis market.
Increasing Collaboration Activities, Medical Tourism Drive Single-cell Analysis Market in Developing Countries
The growth of the single-cell analysis market in Asia Pacific is anticipated to be driven by India and China, owing to the rising healthcare expenditure in the countries, growing awareness among people, increasing prevalence of cancer and other infectious diseases, and increasing patient population, among others. Furthermore, market players in Asia Pacific have been entering into distribution agreements to enhance the reach of their products to leverage the vast growth opportunities in Asia Pacific. For instance, 10x Genomics, Inc. entered into agreements with MDxK, Inc., Millennium Science Pty Ltd, Research Instruments Pte Ltd, and Star Research Technology Ltd., for the promotion, sales, and support of 10x’s Chromium System in various Asian countries, including South Korea, Australia, New Zealand, Southeast Asia, and China.
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The booming medical tourism industry in Southeast Asia is likely to remain a key driver for the single-cell analysis market in the coming years, as this has driven a steady investment influx in the single-cell analysis industry. The growing acceptance of IVF procedures, previously seen as a taboo in several developing regions, has also led to growing demand for single-cell analysis.
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