Single-Cell Analysis Market Overview
The global single-cell analysis market is expected to grow at a CAGR of 18.1% during the forecast period (2016–2022). This rapid growth is attributed to various factors, such as the increasing healthcare expenditure, geriatric population, and prevalence of cancer and infectious diseases. Moreover, the technological advancements and growing focus on personalized medicine are also contributing to the growth of the market.
On the basis of the type of product, the single-cell analysis market is bifurcated into instruments and consumables. Of these, consumables contributed more revenue to the market during the historical period (2012–2015), and these are further predicted to grow at the higher CAGR during the forecast period.
When the type of cell is taken into consideration, the single-cell analysis market is categorized into human cell, animal cell, and microbial cell. The human cell category held the largest share of the market in 2015 and is also expected to grow the fastest during the forecast period. This would be due to the growing prevalence of infectious diseases in the geriatric population and increasing investment for stem cell research.
In terms of application, the single-cell analysis market is divided into research and diagnostic. Research occupied the larger share of the market during the historical period, and this category is further expected to retain its dominance during forecast period due to the availability of increased funds.
The end-users in the single-cell analysis market are biotechnology companies, hospitals, cell banks and in-vitro fertilization (IVF) centers, and research institutes. The hospitals category held the largest share of the market in 2015, and it is predicted to grow at the fastest pace during the forecast period as well. This is because hospitals provide high-quality diagnostic care and safe environment to patients.
Geographically, North America held the largest share of the single-cell analysis market in 2015. The Asian region, however, is predicted to witness the fastest growth during the forecast period due to the increasing geriatric population, growing prevalence of cancer, and improving healthcare infrastructure.
Single-Cell Analysis Market Dynamics
The key trends in the single-cell analysis market are the increasing number of collaborations, partnerships, and product launches. The collaborations and partnerships majorly focus on new and innovative products, improving geographical presence, and purchasing single-cell analysis products. For example, in August 2016, Illumina Inc. partnered with FlowJo LLC in order to develop and co-market an analysis software for single-cell next-generation sequencing (NGS) data.
The factors that are driving the growth of the single-cell analysis market include surging geriatric population, healthcare expenditure, prevalence of infectious diseases, focus on personalized medicine, and technological advancements.
With the use of single cell genomics in disease analysis, personalized medicine offers treatments suited to individual needs and characteristics. Due to the advancements in single-cell analysis techniques, personalized treatment for rare diseases is also achievable. Personalized medicine helps monitor and treat patients in accordance with their individual needs, thereby increasing its demand and driving the single-cell analysis market.
The factors hindering the market growth are the intellectual property rights issues obstructing innovation in assay kits, high cost of single-cell analysis products, and limited healthcare reimbursements. Single-cell analysis products are costly, which limits their affordability. These products are used in various procedures such as NGS, flow cytometry, and polymerase chain reaction (PCR), but due to their high cost, small clinics across developing nations are not able to afford them. The limited sales, thus, obstruct the growth of the single-cell analysis market.
The encouraging stem cell research scenario, growing healthcare market in emerging economies, and integration of microfluids in single-cell analysis provide opportunities to players looking at investing in the single-cell analysis market. As developing countries, such as India and China, have improving healthcare infrastructure and a large population, investments in the healthcare sector of these countries have more potential than in the developed countries. This factor, along with developing countries’ high operating margins and fragmented healthcare industry, gives players the opportunity to invest and prosper.
Single-Cell Analysis Market Competitive Landscape
The key players in the single-cell analysis market are launching new products to augment their profits. For instance, in January 2016, Illumina Inc. launched MiniSeq sequencing system, which is a flexible benchtop system, to help NGS researchers get quick results. Similarly, in May 2016, Fluidigm Corporation launched the new immunology application on the C1 system of Single-Cell TCR sequencing, which enables the in-depth profiling of T cells at single-cell resolution.
Some of the key companies operating in the global single-cell analysis market are Merck KGaA, Thermo Fisher Scientific Inc., NanoString Technologies, Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Beckman Coulter Inc., QIAGEN NV, and Agilent Technologies Inc.