The report ‘Single-cell analysis’ Market by Product (Consumables, Instruments), by Application (Research Applications, Medical Applications), - Global Forecast to 2028. The Market for Global Single Cell Analysis is estimated to reach a market value of USD 6.45 billion by 2028 from USD $ 2.42 billion in 2020, at a CAGR of 15.6% during the forecasted period. The single-cell analysis industry is expected to grow in the coming years due to factors such as technological advancements in single-cell analysis products, growing focus on personalized medicine, increased R&D in the single-cell analysis field, quick progress in the healthcare segment throughout the world, and partnerships among the key players to favour the development of the market.
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Consumables, which accounted for 67.4 percent of total market revenue in 2020, dominated the single-cell analysis market.
This segment's large proportion could be attributed to the fact that these products are used on a regular basis, as opposed to instruments, which are considered as a one-time investment. The numerous applications of consumables in research and genetic exploration, exosome analysis, and RNA and DNA separation are also expected to drive market growth. Also, because of their high-end features and technically complex analytical options, automated instruments contributed to the market's considerable revenue.
The Research Applications category is predicted to increase at a respectable rate over the projected timeframe.
The ‘research applications’ market segment is expected to hold the largest single cell analysis market share due to the increasing rates of cancer cases and the growing need for stem cell research, and the increased awareness of commercially available cancer diagnostics and precision medicine. Cancer and immunology are two fields of study that are becoming increasingly popular among scientists.
North America, with 44.9 percent of the global single-cell analysis market in 2020, had the largest share of the market.
Increased personal healthcare spending, high government funding, quick adoption of novel analytical techniques, and increased awareness all had a big role in the contribution of the growth of the market in North America. In recent years, factors such as the booming medical tourism industry, rising disposable income, and rapidly developing healthcare infrastructure have boosted demand for advanced diagnostic tools in Asia Pacific's emerging nations. The market in this area is expected to be driven by concentrated efforts, with the highest CAGR during the forecasted period. Furthermore, the rising occurrences of chronic diseases such as cancer in the region are driving the market growth. According to the Globocan 2020 estimate, 2,281,658 new cancer cases will be identified in the United States in 2020, with over 612,390 deaths. In 2020, the most common cancers in the United States were breast (253,465), prostate (209,512), lung (227,875), and colon (101,809).
Key market players in the market are Thermo Fisher Scientific Inc., QIAGEN NV, Bio-Rad Laboratories Inc., Illumina Inc., Merck Millipore, Becton, Dickinson & Company, Fluidigm Corporation, 10x Genomics, Inc., BGI, Novogene Corporation
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