The Cell Analysis Market is expected to reach USD 22.7 billion by 2024 from USD 16.0 billion in 2019, at a CAGR of 7.2%. from 2019 to 2024. Increasing government funding for cell-based research and the rising incidence of chronic and infectious diseases are the major factors driving the growth of this market.
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Based on product, the cell analysis market is broadly categorized into microscopes, flow cytometry products, spectrophotometers, qPCR products, cell counters, cell microarrays, high-content screening (HCS) systems, and other products. The flow cytometry products segment accounted for the largest market share in 2018. The large share of this segment is primarily attributed to technological advancements, the increasing adoption of flow cytometry techniques in research and academia, growing public-private initiatives in the field of immunology and immuno-oncology research, and the rising incidence and prevalence of chronic diseases.
Based on end user, the cell analysis market is segmented into hospitals & diagnostic laboratories, research institutes, pharmaceutical & biotechnology companies and CROs, cell culture collection repositories, and other end users. The pharmaceutical & biotechnology companies and CROs segment is expected to register the highest CAGR during the forecast period. These facilities use cell analysis instruments and consumables during various stages of drug discovery, drug research and development, pharmacokinetics, toxicology, and clinical studies.
By region, the cell analysis market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest market share, followed by Europe.
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The prominent players operating in the cell analysis market are Danaher Corporation (US), Thermo Fisher Scientific (US), Becton, Dickinson and Company (US), Merck KGaA (Germany), GE Healthcare (US), Agilent Technologies, Inc. (US), Olympus Corporation (Japan), PerkinElmer, Inc. (US), Promega Corporation (US), Tecan Group (Switzerland), Miltenyi Biotec (Germany), Carl Zeiss (Germany), Bio-Rad Laboratories Inc (US), and Sysmex Corporation (Japan).