Government funding for LS research fuels single-cell analysis market
The global single-cell analysis market is predicted to clock a CAGR of 15.4 percent from 2017 to 2025 vis-à-vis revenue. At this pace, the market is expected to be worth USD 6.5 billion by 2025, according to Transparency Market Research. Majorly fueling the growth of the market is rising funding from government agencies for research on single-cell analysis especially in developed countries. For example, the National Institute of Health (NIH) provides funding to Bell Biosystems Inc. to conduct research on a project titled Single Cell Spatiotemporal and Functional Reporting Using Magneto-endosymbionts. NIH has been consistently funding for cellular research since 2015.
Apart from this, increasing partnerships among key players to develop innovative platforms for single-cell analysis bodes well for this market. Key players in Asia-Pacific have also been entering into distribution agreements to enhance their product outreach. Rising initiatives for life sciences research in EU countries such as Spain, Germany, and Italy are also favoring the single-cell analysis market. Germany is home to more than 700 life science companies, which makes it a leading domestic market for single-cell analysis. Healthcare research has been booming in Western Europe in recent years thus leading to a steady growth of the single-cell analysis market. Growth of the healthcare industry in emerging economies such as China and India has augured well for several research fields. Governments in these countries are funding research pursuits that are aimed at inventing advanced treatment for several diseases. This bodes well for the single-cell analysis market in Asia-Pacific.