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Single-cell analysis refers to the study of genomics, transcriptomics, proteomics, metabolomics and cell interactions at the single cell level. The factors responsible for growth in the single-cell analysis market includes technological advancements, growing applications in cancer research & increased government funding for cell based research. Additionally, the market is gaining momentum during the pandemic situation. For example, In January 2021, as per American Journal of Physiology, single-cell analysis through mass cytometry was used to study the changes in the peripheral blood mononuclear cell profiles of COVID-19 infected patients
Incidences of cancer is increasing globally, owing to the aging population, unhealthy lifestyles etc. For instance, as per National Cancer Institute, by 2040, it is expected that the number of new cancer cases will rise by 29.5 million and the number of cancer-related deaths to 16.4 million per year. Additionally, application of single-cell RNA sequencing in cancer research is to analyze the complex tissues at single-cell levels which can identify differential gene expression and monitors the progress of tumor development, thus preventing further cellular decline.
However, high cost of single-cell analysis products is projected to restrict the growth of the market during the projected period.
Key Market Driver -
Wide Range of Applications of Single-cell Analysis in Cancer Research
Key Market Restraint -
High Cost of Single-cell Analysis Products
Globally, the single-cell analysis market can be segmented on the basis of product, application, technique, end-user, and region. Based on products, the market can be segmented into consumables (reagents and assay kits) and instruments (microscope, hemocytometers, flow cytometers, NGS Systems, PCR instrument, Cell Counters, HCS Systems, Others). Based on application, the market can be segmented into cancer, immunology, neurology, stem cell, non-invasive prenatal diagnosis, in-vitro fertilization and other. Based on end user market is segmented into academic & research laboratories, biotechnology and pharmaceutical companies, hospitals and diagnostic laboratories and others. Geographically, the Single-cell Analysis Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Some of the major companies that are present in the Single-cell Analysis Market are Thermo Fisher Scientific Inc., QIAGEN NV, Bio-Rad Laboratories Inc., Agilent Technologies, NanoString Technologies, Tecan Group, Sartorius AG, Luminex Corporation, Takara Bio, Fluxion Biosciences and other prominent players.
Geographically, the Single-cell Analysis Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to account as the dominant market share. The significant market share of North America is attributed to various factors such as rising collaborations among prominent players, technological advancements and increase in biotechnology and pharmaceutical industries. For example, in January 2021, thermos fisher announced the acquisition of Phitonex, Inc. Europe is expected to grow moderately in the market due to factors such as growing opportunity in cancer cell research along with increasing consumer awareness about technological advancement in the field of medical which lead to increased demand for personalized medicine. The Asia Pacific region is projected to grow at the highest CAGR primarily due to rising geriatric population, increasing government initiatives to promote life science research, increasing investments in biotech R&D. Latin America and the Middle East & Africa are estimated to account for lower market revenue shares and growth rates.
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