(MENAFN- America News Hour)In a recent published report, Kenneth Research has updated the market report for Single cell analysis market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Single cell analysis market products.
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Kenneth Research has recently added a report titled Single cell analysis market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Increasing single cell analysis applications in genomics, proteomics, epigenetic studies, and transcriptomics, will significantly propel the single cell analysis market growth. Moreover, the demand of single cell analysis for clinical trials is increasing at a significant rate. At present, nearly 1,300 clinical trials are in progress, and the single cell analysis acts as an effective diagnosis tool of various cancer types and infections such as hepatitis, Influenza, and HIV through immunology. According to a study by Cancer Research UK, more than 14.2 million worldwide cases were identified in 2012, out of which 8.2 million deaths were registered. Increasing incidences of cancer cases will give a significant boost to the growth of single cell analysis market.
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Likewise, potential players operating in the pharmaceutical industry are investing hugely in the research and development (R&D) activities to assess various single cell analysis applications in stem cell transplant procedures to improve their success rates. Moreover, the introduction of several advanced devices which can enable easy proteomics and transcriptomic procedures will further trigger the adoption of single cell analysis operations.
The single cell analysis market is expected to restrain due to the high costs instruments used for this analysis procedures. The demand for analytical tools is increasing, which is significantly enhancing new technical advancements, which is leading to the development of high-end machinery. Due to the increasing need for accuracy, high sensitivity, and efficacy, the manufacturers in this sector are investing hugely in their product development activities, which will open some significant growth opportunities for the single cell analysis market.
By Product Type
The global single cell analysis market has been segmented by product into consumables and instruments. Consumables for single cell analysis market is expected to lead with prime share over the forecast period. This is majorly due to the increasing frequent requirement of these products compared to instruments. The investment on the instruments is considered as a one-time investment. Some of the consumables used in the single cell analysis include reagents & kits, micro-consumables, etc. Among the consumables, the demand for reagents is expected to grow at a prime growth rate than micro-consumables, owing to their increasing consumption requirement in the cellular analysis operations.
By Technique Type
Single cell analysis through flow cytometry technique is expected to hold the largest market share of the overall market over the forecast period, owing to increasing usage in cellular analysis operations. This is majorly attributed by the favorable properties offered by this technique such as higher accuracy, efficiency, and sensitivity, when compared to other techniques.
By Application
Single cell analysis market for cancer application is expected to have the highest market share, primarily owing to its increasing use in the research & development on various types of cancers. This technique is majorly used in cancer genomics, majorly to identify the cancer-specific gene signatures.
By Region
North America single cell analysis market is projected to have the prime market share, majorly owing to increasing research & development activities, coupled with rising cancer cases and geriatric population. By the end of 2016, the cancer survivors in U.S. reached 15.5 million, and this is projected to reach 20.3 million by the end of 2026, according to the National Cancer Institute. Moreover, R&D investment in the biopharmaceutical industry reached US$ 90.0 billion in 2016, according to a report by PhRMA. This will give a significant boost to the growth of North America single cell analysis market over the projected period.
Asia Pacific single cell analysis market is predicted to have a second highest market share in the global market, primarily owing to increasing development activities in the healthcare sector, coupled with rising geriatric population, and cancer incidences. According to a report“Call for Action: Expanding cancer care for women in India, cancer among women in India was estimated over 0.7 million, while several cases were undetected or unreported.
Key players
Some of the potential players in the global single cell analysis market include WaferGen Bio-systems, Inc., Thermo Fisher Scientific, Inc., Dickinson and Company, Becton, Eppendorf AG, Fluidigm Corporation, NuGEN Technologies, Inc., QIAGEN N.V., Bio-Rad Laboratories, Inc., 10x Genomics, and Illumina, Inc. among several others.
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According to the National Institute of Health, there were some rapid technology developments in the past few years, which permitted the development of detailed single cell genome and transcriptome analysis. Many prominent players operating in this market are focusing more on the development of new and innovative technologies, which will help the market growth on a rapid scale. For instance, in August 2018, Cytobank aimed to improve cytometrt informatics, and they are planning to start with immunotherapy.
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Darlene Dooley
Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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