Rise in demand for single cell analysis and high-end technological advancements coupled with surge in R&D activities in the pharmaceutical and biotechnology industries drive the growth of the global single cell analysis market.
PORTLAND, Ore., aug. 2, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “Single Cell Analysis Market By Product (Consumables, Instruments), By Techniques (Flow Cytometry, Next Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Mass Spectrometry, Others), By End User (Academic and Research Laboratories, Biotechnology and Pharmaceutical Companies, Hospitals and Diagnostic Laboratories, Others), By Application (Oncology, Immunology, Neurology, Stem cell, Non-Invasive Prenatal Diagnosis, In-Vitro Fertilization (IVF) , Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global single cell analysis industry was estimated at $2.64 billion in 2021, and is expected to hit $13.62 billion by 2031, registering a CAGR of 17.8% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape.
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Drivers, restraints, and opportunities:
Rise in demand for single cell analysis and high-end technological advancements coupled with surge in R&D activities in the pharmaceutical and biotechnology industries drive the growth of the global single cell analysis market. At the same time, increase in focus on personalized medicines and growing prevalence of cancer have supplemented the growth even more. On the other hand, high cost of single cell analysis products restrains the growth to some extent. Simultaneously, high growth potential of single cell sequencing is projected to pave the way for profitable growth opportunities in the industry.
Governments in almost all countries had increased financing for vaccine development and manufacturing, which in turn gave way to a rise in the usage of single-cell analytical tools for Covid-19 research, thus positively impacting the global single cell analysis market.
A deeper understanding of the host immune response during illness progression is highly essential in order to more precisely manufacture prognostic and diagnostic indicators and initiate proper therapeutic approaches for patients. Researchers can gain a better understanding of immune cells at the single-cell level and how functional cells put up immune protection by taking recourse to single-cell analysis. These factors have boosted the market growth in several ways.
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The consumables segment to dominate by 2031:
By product, the consumables segment contributed to around two-thirds of the global single cell analysis market share in 2021, and is expected to lead the trail by 2031. The same segment is also expected to exhibit the fastest CAGR of 17.9% from 2022 to 2031. This is due to high usability of products, frequent purchase of reagents, increase in prevalence of target diseases, and constant need for consumables required for assay.
The next generation sequencing (NGS) segment to maintain the lion’s share:
Based on techniques, the Next Generation Sequencing (NGS) segment generated around one-third of the global single cell analysis market revenue in 2021, and is expected to lead the trail by 2031. The same segment would also manifest the fastest CAGR of 18.0% from 2022 to 2031, due to rise in genome mapping programs, increase in applications of next-generation sequencing, surge in healthcare expenditure, and technological advancements in sequencing platforms.
The oncology segment to rule the roost:
By application, the oncology segment garnered more than one-third of the global single cell analysis market share in 2021, and is expected to retain its dominance by 2031. The fact that single cell analysis has proven to be highly effective for prior diagnostics of cancer cells drives the segment growth. The neurology segment, on the other hand, is expected to exhibit the fastest CAGR of 18.8% from 2022 to 2031. This is attributed to increase in the prevalence of neurological disorders.
North America garnered the major share in 2021:
Based on region, North America held the major share in 2021, generating nearly half of the global single cell analysis market. Rise in the well-established healthcare system, emerges in number of geriatric patients, and supportive reimbursement policies in the healthcare system propelling the market growth. Europe, on the other hand, would garner the fastest CAGR of 21.6% by 2031. Increase in incidences of cancer and a spike in government funding for single cell analysis research fuel the market growth. The other provinces analyzed throughout the report include Asia-Pacific and LAMEA.
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Key players in the industry:
Thermo Fisher Scientific, Inc.
BGI Genomics Co.Ltd.
Dickinson and Company
Agilent Technologies, Inc.,
Oxford Nanopore Technologies.
Berkley Light INC.
The report on these key players in the global single cell analysis market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.
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