Albany, NY, June 06, 2018 (GLOBE NEWSWIRE) -- As per a report by TMR, the single-cell analysis market is predicted to clock a CAGR of 15.4% for the forecast period between 2017 and 2025 vis-à-vis revenue. At this pace, the market is expected to be worth US$6.5 bn by 2025. By product type, consumables segment stood dominant in 2016 and is anticipated to continue to remain so through the forecast period. Geography-wise, North America holds dominance in the single-cell analysis market due to increasing funding for research, well-developed infrastructure, rising awareness among people, and increasing incidence of cancer and infectious diseases. Owing to these factors, the North America single-cell analysis market is predicted to rise at a CAGR of 15% between 2017 and 2025.
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Partnerships, Collaborations between Players to Develop Innovative Research Platform Boosts Growth
Majorly fuelling the growth of single-cell analysis market is rising funding from government agencies for research on single-cell analysis especially in developed countries. For example, the National Institute of Health (NIH) provides funding to Bell Biosystems Inc. to conduct research on a project titled “Single Cell Spatiotemporal and Functional Reporting Using Magneto-endosymbionts”. NIH has been consistently funding for cellular research since 2015.
Apart from this, increasing partnerships among key players to develop innovative platforms for single-cell analysis bodes well for this market. Key players in Asia Pacific have also been entering into distribution agreements to enhance their product outreach. For example, 10x Genomics Inc. entered into agreements with Millennium Science Pty Ltd., Star Research Technology Ltd., MDxK Inc., and Research Instruments Pte Ltd for promotion, sales, and support of its research findings.
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Rising initiatives for life sciences research in EU countries such as Spain. Germany, and Italy is also favoring the single-cell analysis market. Germany is home to more than 700 life science companies, which makes it a leading domestic market for single-cell analysis. Healthcare research has been booming in Western Europe in recent years thus leading to a steady growth of the single-cell analysis market.
Rising Healthcare Expenditure in Emerging Economies Boosts Demand for Research-based Medical Treatment
Growth of the healthcare industry in emerging economies such as China and India has augured well for several research fields. Governments in these countries are funding research pursuits that are aimed at inventing advanced treatment for several diseases. This bodes well for single-cell analysis market in Asia Pacific.
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In addition, rising healthcare expenditure in emerging economies along with rising awareness among individuals are indirectly aiding the single-cell analysis market.
The global single-cell analysis market is largely consolidated with large market share held by top players, says Transparency Market Research (TMR) in a new report. Product development is likely to remain the key growth strategy for top companies in the single-cell analysis market. Collaborations and partnerships with companies in emerging economies could also remain on the growth chart of leading companies in the single-cell analysis market.
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Key players in the global single-cell analysis market include Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Eppendorf AG, NuGEN Technologies Inc., Illumina Inc., WaferGen Bio-systems Inc., Fluidigm Corporation, QIAGEN N.V., Bio-Rad Laboratories Inc., and 10x Genomics among others.
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