Global Single Cell Analysis Market - Segmented by Cell type, Technique, Application, End-User and Geography - Growth, Trends, and Forecast (2018 - 2023)
The single cell analysis market is expected to grow, at a CAGR of about 17% during the forecast period. Single Cell Analysis refers to the study of individual cells isolated from tissues in multi-cellular organisms. Study of living cells can increase the understanding of the interconnecting molecular events continually taking place in each cell. Growth of the market is primarily driven by the technological advancements in single-cell analysis products, increasing government funding for cell-based research, growing biotechnology and pharmaceutical industries, wide applications of single-cell analysis in cancer research, growing focus on personalized medicine, and increasing incidence and prevalence of chronic and infectious diseases.
Growing Investments in Cancer Research
The rise in acquired resistance against systemic therapies is constantly happening due to the generation of variant cancer cells which leads to, the inability to cure advanced cancer patients. Circulating tumor cells are gaining increasing clinical attention because they may enable the monitoring cancer progression and adjustment of treatment. In recent years multiple technologies for enrichment, isolation as well as molecular and functional analysis of circulating tumor cells have been developed such as single cell analysis. Implementation of technologies like single cell analysis in standardized and automated workflows in clinical diagnostics could provide valuable information for real-time monitoring of cancer and eventually new therapeutic strategies for the benefit of patients. This will eventually lead to more efficient and better analysis. This will lead to the growth of this market. Other factors that will lead this market to grow include technological advancements in single-cell analysis products, growing biotechnology and biopharmaceutical industries, wide applications of single-cell analysis in cancer research, growing focus on personalized medicine and increasing incidence and prevalence of chronic and infectious diseases.
High Cost of Single-Cell Analysis Products
Recently there have been huge technological development in the field of transcriptomics have enabled unprecedented insight into about the molecular scale at the level of single cells. Single cell transcriptomics enables the measurement of transcriptomic information of thousands of single cells in a single experiment. The volume and complexity of resulting data make it a paradigm of big data. Consequently, the field is presented with new scientific and, in particular, analytical challenges where currently no scalable solutions exist. This opens up a requirement for huge investments and therefore make this kind of testing expensive and inaccessible to most of the patients. This will act as a restraint for the growth of the single cell analysis market.
Asia-Pacific to Emerge as the Fastest Growing Region
North America will dominate the market in the forecast period, followed by Europe and Asia-Pacific. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period. The large population in China and India, rising geriatric population, and increasing incidence of chronic diseases are the major factors driving the growth of the Asian market.
Key Developments in the Market:
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