The live cell imaging market is set to progress at a CAGR of 10.4% during 2024–2030, to reach USD 5,634.3 million by 2030.
The increase in the research spending in a variety of pharmaceutical and biotechnology domains, including molecular diagnostics, for various infectious and chronic illnesses, is one of the strongest factors driving the market. Additionally, the use of such imaging devices in investigational purposes, to obtain a better understanding of biological functions, through the study of cellular dynamics, brought on by the rising incidence of chronic diseases, is predicted to accelerate the market's growth during the forecast period.
In 2023, pharmaceutical & biotechnology companies accounted for the largest share, of more than 45%, globally, attributed to the increasing research and development activities by these firms. With a view to evading another situation like the COVID-19 pandemic, more research is being done than ever to lower the possibility of future epidemics.
For instance, around USD 30-million investment in health innovations is done by the National Institutes of Health of the U.S. every year, including in COVID-19 research. Similarly, the U.K. is focusing on investing more in R&D over the next three years and reaching total funding of USD 25 billion by 2024–2025. Likewise, APAC countries, including China and India, have boosted their investments in the pharmaceutical and healthcare industries.
Therefore, the combined forces of economic and demographic development, government stimulus, enhanced health awareness among the public, and improving R&D capability are expected to help the market advance over this decade.
Essentially, with rising need for advanced drugs, pharma companies’ active focus on research, with their high investments, directly impacts the growth of the market.
The strong need for the detection and identification of carcinogenesis is boosting the demand for live cell imaging. For instance, around one in five people worldwide develop cancer in their lifetime. Additionally, in 2020, there were 10 million deaths due to cancer and around 19.3 million new cases of this disease worldwide. Therefore, the increasing incidence of cancer is propelling the market as the real-time imaging of cancer cell generation and tumor growth is supported by live cell imaging methodologies.
Moreover, biopharmaceuticals are becoming increasingly important due to the rising prevalence of infectious diseases and neurological disorders. Therefore, the rising need for biopharmaceuticals, where the study of cellular activity is a must, drives the market.
The academic & research institutes category is expected to grow with a significant rate during the forecast period. Live cell imaging allows researchers to observe the dynamic events in cell populations, single cells, and even on a subcellular level. Owing to the increasing research activities related to drugs, the need for animal testing, investigating single-molecule dynamics, localization, and interaction; studying cellular changes in the real time, observing and analyzing cellular dynamic processes, and other kinds of studies boosts the market growth.
Moreover, the market expansion is owing to the quick adoption of revolutionary technologies for the creation of advanced diagnostic and therapeutic approaches. Studying the activity of the target cells is the first and one of the most-critical steps in producing biological medications. Additionally, examples of live cell imaging applications are functional cell-based assays for wounding and migration or chemotaxis experiments.
The most-significant live cell imaging market players are DH Life Sciences LLC, Carl Zeiss AG, Nikon Instruments Inc., Evident Corporation, PerkinElmer Inc., GE HealthCare Technologies Inc., Bruker Corporation, Thermo Fisher Scientific Inc., Sartorius AG, and Becton, Dickinson and Company.