(IT-NEWSWIRE.COM, May 22, 2019 ) According to the new market research report "Cell Counting Market by Product (Instruments (Spectrophotometer, Cell Counter, Hemocytometer, Flow Cytometer, Hematology Analyzer), Consumables (Reagent, Assay Kits, Microplate)), End User (Pharmaceutical, Hospital, Research) - Global Forecast to 2023", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
The major factors driving the growth of this market include the growing incidence of diseases and disorders, development of enhanced solutions and improved image analysis, and growing use of high-throughput flow cytometry and automated hematology analyzers.
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Cell counting is a subset of cytometry and plays a vital role in cell analysis and cell research during various research and diagnostic applications. It ensures the viability of cells and cell growth. It also quantifies the number of live or dead cells in a cell culture.
A wide number of cell counting instruments and consumables are used during the diagnosis of several diseases, including AIDS, cancer, and several infectious diseases and during cell-based research, stem cell research, cancer research, and AIDS research. Over the years, with the increasing research being held in various fields along with the increasing importance of timely and accurate diagnosis, the market for cell counting instruments has witnessed significant growth.
The overall cell counting market is expected to grow from USD 8.84 billion in 2018 to USD 12.32 billion by 2023 at a CAGR of 6.8%. The growing incidence of diseases and blood disorders, development of enhanced solutions and improved image analysis, and growing use of high-throughput flow cytometry and automated hematology analyzers are the key factors driving the growth of this market.
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The cell counting market has been segmented, on the basis of product, into consumables and instruments. The market for consumables is expected to grow at the highest CAGR between 2018 and 2023. On the other hand, among all the instruments, spectrophotometers are most widely used for cell analysis. The high adoption of these instruments is contributing to the rapid growth of the market.
The cell counting market in APAC is expected to grow at the highest CAGR during the forecast period. With significant growth in the research industry in the past few years, China and India have emerged as high-growth markets for cell counting instruments. Other than these APAC countries, Brazil also shows significant growth potential for the cell counting market. Most of this growth is driven by the significant growth in the healthcare market as well as the research industry in these regions. The low-cost manufacturing advantage, increasing per capita income, and low regulatory stringency are also factors supporting the growth of the cell counting market in these regions.
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The advanced instruments such as flow cytometers, multimode microplate readers, and automated hematology analyzers used for cell counting and other cell analysis applications are highly expensive. This is a major factor restraining the growth of the market. The high prices put these instruments out of reach for companies with small R&D budgets and academic institutes lacking financial backing.
Maintenance costs and several other indirect expenses also add to the total cost of ownership. Currently, the majority of the governments across developed and developing countries are focusing on cost-cutting measures, which further threatens the adoption of high-priced cell counting instruments in both clinical and research applications.
Key players in the market include Danaher Corporation (US), Thermo Fisher Scientific (US), Becton, Dickinson and Company (US), Merck (Germany), Bio-Rad Laboratories (US), GE Healthcare (US), PerkinElmer (US), Agilent Technologies (US), BioTek Instruments (US), Tecan Group (Switzerland), Roche Diagnostics (Switzerland), Sysmex Corporation (Japan), HORIBA, Ltd. (Japan), Abbott Laboratories (US), and Siemens Healthineers (Germany).
These players are increasingly undertaking product launches to develop and introduce new technologies, expansions, mergers and acquisitions, and agreements to alleviate their market position.
Mr. Shelly Singh