The global Single Cell analysis market was valued at USD 1,183.7 million in 2015. The rising number of investments and government funds deployed for research and development (R&D) activities in the field of medical diagnostics, availability of technically advanced products, and the rising adoption of the Single Cell analysis devices owing to the widespread prevalence of the infectious diseases are some factors augmenting the growth of the market.
The upsurge in the number of patients suffering from severe life threatening diseases, such as cancer, neurological, and immunological disorders is pushing the demand for Single Cell analysis in order to study the complex nature of these disorders, often characterized with cellular heterogeneity.
China Single Cell Analysis Market, by Instrument type, 2014 - 2024 (USD Million)
In addition, the increasing adoption of stem cell therapy, in-vitro fertilization (IVF), and non-invasive prenatal diagnosis is swiftly increasing. As a result, the adoption of Single Cell analytical techniques is rising. On the other hand, the high-cost of the instruments and the relatively longer shelf-life of the devices are some of the factors restricting the growth of the market.
The global market is segmented into consumables and instruments based on the commercially available product type. The instruments are further divided into the manual and automated types. The consumables segment captured the largest market share in 2015 owing to the constant demand and the repeat purchase of these products leading to the high revenue generation.
The adoption of next-generation sequencing (NGS) technology is spurring the growth of the global Single Cell analytical technologies market. In addition, the escalating adoption of the two technologies- stem cell and genetic analysis- is further boosting the growth of the market. The manufacturing companies sign long-term contracts with potential customers to bolster in their market position. Products offering accuracy and efficacy in performing the procedures are creating demand for the advanced assay kits. As a result, the consumables segment accounted for the largest market share in 2015 and is expected to grow at the fastest CAGR during the forecast period.
The long shelf-life of the instruments restricts the repeat purchase of these products. As a result, the revenue share of the instrument market is negatively affected. Factors, such as technical advancements are expected to propel the growth of the instruments market during the forecast period.
The global market was dominated by North America, followed by Europe in 2015. The North America region accounted for a market share of 37.8% in 2015. The North America region is showed a significant growth rate owing to the establishment of new biotechnology and biopharmaceutical companies. Moreover, the adoption of gene-based analysis techniques by these companies and the research laboratories in the region is augmenting the market growth of the genomics segment.
Furthermore, the growth in the government initiatives and funding is encouraging research and development activities related to disease diagnostics. The government initiatives like the Single Cell Analysis Program by the National Institute of Health, U.S. (NIH) are intended to overcome the challenges in the adoption of these techniques and to encourage improved, technically-advanced tools for the analysis of Single Cells. The program involved various meetings, conferences, and the launch of exploratory projects in order to achieve the goals set by the program. As a result, North America is poised to dominate the global market throughout the forecast period.
The Asia Pacific Single Cell analysis market is expected to witness the fastest growth with a CAGR of over20.6% during the forecast period. The rapid market growth exhibited by this region is attributable to the numerous government initiatives undertaken to improve the healthcare infrastructure, availability of skilled professionals to operate the advanced analytical instruments, and the rising healthcare expenditure. In addition, the presence of a considerably large target population, escalating demand for genetic analysis, and the flourishing medical tourism industry is augmenting the growth of the market.
The global Single Cell analysis market is highly competitive with very few players competing with each other in the international market; as a result of which, the market players are adopting strategies including long-term purchase contracts and bulk purchase discount offers to potential customers in order to maintain their position.
The requirement of quality, efficacy, and accuracy increase the product manufacturing costs of these devices, such as NGS and PCR-based assay.
The companies in this market are also implementing strategies including mergers and acquisitions to expand their product portfolio and strengthen their position in the market. The partnership between Illumina, Inc. and Bio-Rad Laboratories, Inc. is one such example of the strategies implemented by the leading players.
The major players in this market include but are not limited to Thermo Fisher Scientific, Inc., Illumina, Inc., Qiagen N.V., Bio-Rad Laboratories, Inc., Merck Millipore GmbH, Beckman Coulter, Inc. (U.S.), and Becton, Dickinson and Company (U.S.).
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