A number of factors such as the mounting healthcare expenditure, booming geriatric population, and surging incidence of infectious diseases and cancer are expected to drive the single-cell analysis market at a CAGR of 18.1% during the forecast period (2016–2022). Moreover, the rising technological advancements in the domain of single-cell analysis and escalating focus of patients and medical professionals on personalized treatments will also contribute to the market growth in the foreseeable future.
The increasing prevalence of cancer and infectious diseases is one of the major growth drivers for the market. According to the World Health Organization (WHO), 18.1 million new cancer cases were recorded in 2018, and the number of new cancer cases will reach around 29.4 million by 2040. As per the organization, 1 in 6 deaths is caused due to cancer worldwide. The WHO further estimates that by 2030, nearly 7.3 million human lives will be lost due to this life-threatening disease.
Additionally, the surging healthcare spending, owing to the soaring cases of cancer and infectious diseases and the rising number of government and non-government initiatives for the development of the healthcare sector, will also support the single-cell analysis market growth in the coming years. In comparison to developing countries, developed countries spend more money on healthcare. The hefty investments being made in the healthcare sector have increased the accessibility and affordability of medical treatment and disease diagnosis procedures through single-cell analysis.
The product segment of the single-cell analysis market is divided into consumables and instruments. Of these, the consumables category generated the higher revenue in 2015, and it is expected to demonstrate the faster growth during the forecast years. The consumables category is further classified into beads, reagent, assay kits, microplates, and others, such as test tubes and vials. Furthermore, the instruments category is classified into microscopes, flow cytometers, next-generation sequencing (NGS) systems, polymerase chain reaction (PCR) instruments, and others, including cell microarrays, spectrophotometers, hcs systems, and cell counters.
Thus, the rising cases of cancer and infectious diseases and mounting healthcare expenditure will supplement the market growth in the foreseeable future.