Newark, NJ, Sept. 16, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global cell counting market is expected to grow from USD 9.73 billion in 2019 to USD 16.59 billion by 2027, at a CAGR of 6.9% during the forecast period 2020-2027.
Vital factors that are fuelling the market growth are increasing funding for cell-based research, growing incidence of chronic & infectious diseases, expanding biotechnology & biopharmaceutical industries, development of improved solutions & enhanced image analysis, the increasing use of automated hematology analyzers & high-throughput flow cytometry, rising occurrence of chronic diseases that need next-generation therapeutics, upsurge in research activities that need state-of-the-art cell counting instruments, increasing government initiatives & funding for critical illnesses research, and increasing demand for biologics in disease treatment.
Cell counting is a set of various methods for the quantification or counting of cells in areas such as treatment and medical diagnosis. Cell counting assists in preserving cell cultures and organize the cells for downstream & transfection experiments. It is a subset of cytometry, with various applications in clinical practice and research. For instance, having the complete blood count can majorly help a physician to analyze & determine why the patient feels ill and figure out the necessary steps to alleviate the illness. Cell counts inside liquid media (such as plasma, blood, laboratory rinsate, or lymph) are typically expressed as the number of cells per unit volume, hence providing the concentration (for instance, 3,000 cells per milliliter).
There are certain factors that hinder market growth, such as the high cost of cell analysis, lack of highly skilled professionals, and the lack of adequate research infrastructure, especially in developing and underdeveloped countries.
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Key players operating in the global cell counting market include Becton, Dickinson and Company, Tecan Trading AG, Danaher Corporation, Tip Biosystems, PerkinElmer Inc, Thermo Fisher Scientific Inc., Nexcelom Bioscience LLC, Corning Incorporated, Abbott, Siemens Healthcare Private Limited, Merck KGaA, Cole-Parmer Instrument Company LLC, Sysmex Corporation, Olympus Corporation, Logos Biosystems Inc, and Bio-Rad Laboratories among others. To gain a significant market share in the global cell counting market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Becton, Dickinson and Company and Thermo Fisher Scientific Inc. are some of the biggest players in the global market.
- For instance, in 2020, Danaher purchased GE Life Sciences' Biopharma business. For Danaher's Life Science division, this corporation will be formed as a standalone operating entity.
- Perkin Elmer reached an agreement with Accenture in 2019 to join the Open Partner Ecosystem Program at Accenture to help researchers drive drug development and boost patient outcomes.
Consumables & accessories dominated the market and held the largest market share of 64.7% in the year 2019
On the basis of product, the market has been segmented into instruments and consumables & accessories. The instruments segment has been further segmented into flow cytometers, automated cell counters, spectrophotometers, hemocytometers and others. The consumables & accessories segment has been further segmented into microplates, media, sera, & reagents, assay kits and others. Consumables & accessories dominated the market and held the largest market share of 64.7% in the year 2019. The large percentage of the consumables segment can be mainly attributed to the high frequency of purchase of such items relative to instruments, which are typically a one-time investment.
Research institutes dominated the market and valued at USD 3.2 billion in the year 2019
Based on end-use, the market has been segmented into hospitals & diagnostic laboratories, pharmaceutical & biotechnology companies, research institutes, contract research organizations, and other. Research institutes dominated the market and valued at USD 3.2 billion in the year 2019. The large share of this segment is attributed to the rising number of regulatory approvals for cell culture-based vaccines and expanding pharmaceutical R&D expenditure.
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Regional Segment Analysis of the Cell Counting Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global cell counting market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region accounted for the major market share of 39.9% in the year 2019, followed by Europe and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as rising demand for hi-tech instruments in research & diagnostic applications, high incidence of target conditions, increasing focus on stem cell, biomedical, & cancer research, increasing prevalence of chronic diseases, and growing demand for early diagnosis of diseases along with effective treatment. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period from 2020-2027. This growth is due to factors like rising number of stem cell, genomics, & proteomic research activities, vast genome pool, the growing trend for research infrastructure modernization, low development costs, less complicated regulations, and growing investments by pharmaceutical & biotechnology companies.
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About the report:
The global cell counting market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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