Single-Cell Analysis Market Insights, Segment Analysis, Growth Drivers and Forecast by 2022
The single-cell analysis market size is projected to reach $5.3 billion by 2022, growing at a CAGR of 18.1% between 2016-2022. The market is driven by factors such as increasing healthcare expenditure, growing geriatric population, high prevalence of infectious diseases, technological advancements in single-cell analysis products, and growing focus on personalized medicines.
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The European single-cell analysis market is expected to reach $1.6 billion by 2022. The market in Europe is witnessing growth mainly due to increasing prevalence of chronic diseases and infectious diseases, increase in the aging population, increase in the number of conferences & symposiums and increasing healthcare expenditure. In terms of the type of product, the European single-cell analysis industry for consumables is expected to witness the fastest growth between 2016-2022. Also, in terms of the type of cell, the European single-cell analysis industry for human cell is expected to generate the highest revenue in 2022.
Personalized medicine offers tailored medical treatment to individual characteristics, needs and preferences of patients. Single cell genomics help in identifying the disease and in providing solutions to the ill patients. A single-cell analysis technique, such as flow cytometry, provides single-cell capture of specified cells with correlation to each cell's individual phenotype, which would help in drug development. A number of initiatives and consortia have been organized to collect and synthesize individual single-cell data. The application of personalized medicine to tackle rare diseases is easily achievable with single-cell analysis. With the advancement in single-cell analysis techniques, patients are treated and monitored more precisely and effectively to meet their individual needs and thereby driving the growth of the worldwide single-cell analysis market.
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Some of the key companies operating in the single-cell analysis market include Thermo Fisher Scientific Inc., Beckman Coulter, Inc., Becton, Dickinson and Company, Illumina, Inc., Bio-Rad Laboratories, Inc., QIAGEN N.V., Merck KGaA, Nanostring technologies, Agilent Technologies, Fluidigm Corporation.
Source: P&S Intelligence
