The global cell counting market is estimated to garner a large amount of revenue by recording a CAGR of ~7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be largely attributed to the rising prevalence of chronic diseases around the world, as cell counting is a vital aspect for their diagnosis. Along with these, introduction of improved data visualization and analysis tools in the medical industry is expected to provide lucrative opportunities for innovations in product development in the upcoming years. Furthermore, largescale adoption of cell counting instruments in a plethora of research areas including immunology, cancer biology and neuroscience, is projected to exhibit high impact market growth in the near future. Increasing government and private investments is likely to aid the progress of healthcare infrastructure globally, which is also assessed to contribute to a rise in product demand in the forecasted time. According to a report by the World Health Organization, the global spending on health increased up to USD 7.8 trillion in 2017, or about 10 percent of GDP and USD 1,080 per capita, up from USD 7.6 trillion in 2016.
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The market is segmented by product into instruments, spectrophotometers, flow cytometers, hemocytometers, reagents, and microplates, out of which, the spectrophotometers segment is anticipated to hold the largest share in the global cell counting market. Over the last few years, spectrophotometry has emerged as the method of choice for measuring viable cell count, cell concentration and performing research therapeutics. This can be attributed to the ability of these instruments to measure varying intensities of light accurately, which in turn is predicted to drive growth to the market segment in the future. Additionally, on the basis of end user, the research institutes segment is foreseen to acquire the largest share over the forecast period owing to the growing adoption of hemocytometers cell counting in biology-based research studies to analyze the progression of microorganisms.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
On the basis of geographical analysis, the global cell counting market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period primarily on the back of the expanding presence of biopharmaceutical and clinical research companies across the region. In addition, low cost of development, deployment of less complex regulations for drug development and vast genome pool is also projected to boost the region’s market growth in the coming time. Moreover, North America is anticipated to occupy the most significant market share during the forecast period ascribing to the increasing occurrence of cardiovascular and blood disorders, and growing emphasis on medical research targeted at improving methods to find cell count in human body. As per the United States Centers for Disease Control and Prevention, heart disease is the leading cause of death in the United States, taking the lives of about 65,000 Americans every year. The country spends about USD 219 billion each year on these diseases.
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The global cell counting market is further classified on the basis of region as follows:
Our in-depth analysis of the global cell counting market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are rising prevalence of chronic diseases worldwide and wide adoption of cell counting instruments in several research areas.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2030.
High cost of cell analysis is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the expanding presence of biopharmaceutical and clinical research companies across the region.
The major players in the market are Merck KgaA, Thermo Fisher Scientific Inc., Perkin Elmer Inc., Olympus Corporation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product, end user, and by region.
The research institutes segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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