The global cell proliferation kit market is estimated to garner a large amount of revenue by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing number of patients diagnosed with cancer, and ongoing R&D activities associated with effective treatment of tumors across the world. According to the World Cancer Research Fund, there were about 18.1 million cancer cases in the world in 2020. Out of these, 9.3 million cases were in men and 8.8 million in women. Along with these, rising awareness levels regarding early assessment of viable cell count, and escalating demand for cytotoxic drugs globally are also expected to drive market growth in the near future. Furthermore, growing number of government initiatives for controlling the healthcare burden, and technological advancements in assay techniques are projected to offer lucrative opportunities to the market in the upcoming years.
The market is segmented by method into colorimetry, fluorescence, and others, out of which, the colorimetry segment is anticipated to hold the largest share in the global cell proliferation kit market. This can be accounted to the high cost-effectiveness and easy retrieval of throughput data provided by this method of detecting cell viability. Apart from these, wide deployment of this technique for several cellular activities such as DNA synthesis, metabolic activity and ATP production, is also predicted to boost the market segment growth in the future. Additionally, on the basis of application, the clinical segment is assessed to occupy the largest share during the forecast period owing to the increasing use of these kits by healthcare professionals to conduct accurate cell cycle analysis of cancer patients. CLICK TO DOWNLOAD SAMPLE REPORT
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.
Regionally, the global cell proliferation kit 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 on the back of the rising prevalence of cancer, and ongoing improvements in the healthcare infrastructure in the region. Moreover, the market in North America is expected to hold the largest share during the forecast period, which can be credited to the increasing number of research activities in oncology by prominent pharmaceutical companies in the region. In addition, high healthcare expenditure, and presence of well-established healthcare infrastructure are also projected to accelerate the market growth in the region in the coming years. As per the Centers for Medicare & Medicaid Services, the U.S. health care spending grew 9.7 percent in 2020, reaching USD 4.1 trillion, or USD 12,530 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 19.7 percent.
The global cell proliferation kit market is further classified on the basis of region as follows:
Our in-depth analysis of the global cell proliferation kit market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing number of patients diagnosed with cancer, and ongoing R&D activities associated with effective treatment of tumors.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022-2031.
Dearth of skilled medical professionals in lower economic regions is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the rising prevalence of cancer, and ongoing improvements in the healthcare infrastructure in the region.
The major players in the market are Merck KGaA, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, General Electric Company, PerkinElmer Inc., 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 method, application, and by region.
The colorimetry segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
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