- The global cell counting market is set to reach USD16.25 billion valuation by 2027. The market to register robust growth at a CAGR of 6.8% during 2020-2027 period, to rise from USD 10.25 billion valuations in 2020.
- As global interest in advanced technology like stem cells rises across the world, the cell counting technology promises to expand to new regions with increased private, and government funding.
- The immediate threat of chronic diseases like HIV, Cancer, Alzheimer’s, Diabetes also promises major opportunities for growth for players in the global cell counting market.
- The global cell counting market is a competitive landscape. Key players in the market are, Abbott, Corning Incorporated, Nexcelom Bioscience LLC, Tecan Trading AG, Danaher Corporation, Dickinson and Company, Becton, PerkinElmer Inc, and Tip Biosystems.
Cell counting technology has been around for decades. Today, the technology offers a special application in cytometry. Cell counting tools, quantification of cells method enables medical practitioners to provide essential diagnoses such as blood cell count, plasma, and lymph count. The services have become invaluable for medical practitioners to understand the spread of chronic illnesses, to control the dose of cells administered, study the growth rate of microorganisms, study the doses of chemicals in medicines, and more.
Recent advancements in cell counting are likely to aid robust growth of the cell counting market. These new advancements include electronic cell counters, which are capable of delivering simultaneous measurements of blood samples including red cell count, leukocyte count, hematocrit, hemoglobin, and even red cell indices. The technology is automated to further save costs usually incurred in manual operations. The electronic cell counters rely on deflection of cell light, when cells pass through a flow cell. These are counted as voltage pulses, and these also occur when cells pass through an aperture after resistance. The rising demand for electronic cell counters due to growing automation, increasing demand for diagnosing chronic illnesses, and major research opportunities in molecular biology research will drive the growth of the cell counting market.
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Cell Counting Market: Key Drivers
According to the World Health Organization, chronic diseases are the leading cause of deaths worldwide. Among these, the noncommunicable diseases or NCDs lead to over 40 million death each year. The biggest illnesses in the noncommunicable group is cancer, leading to 9.3 million deaths each year globally. Furthermore, while diseases like diabetes account for 1.5 million deaths, cardiovascular diseases account for 17.9 million deaths. Checking for blood samples, and spread of infection in diagnosing, and treating most of these diseases. Furthermore, due to the increased interest in discovery of medicine for treatments like HIV, Cancer, and others, the demand for counting cell will likely remain robust in research as well. The rising income in developing countries, the increased awareness about cardiovascular diseases, and rapid advancements in cell counting products will drive robust growth for the cell counting market during 2020-2027 periods.
Cell Counting Market: Key Commercial Applications
They key commercial applications of cell counting are microplates, and regants, among consumable products. Furthermore, the cell counting is also applied with the help of a variety of instruments. These include flow cytometers, spectrophotometers, automated cell counters, hemocytometers, among others. According to World Trade Organization, the global export for pharmaceutical products neared USD 706.9 billion in 2019. These included 85% medicinal products like chemical compounds, reagents, and similar items. The high-value of these goods is attributed to their completed good form, while other chemical compounds are raw goods.
Cell Counting Market: An Opportunity for Innovation
Despite some tremendous strides made in the past year, the cell counting market still suffers from quick blood counting, and sampling technology. For example, in the midst of the raging coronavirus pandemic, many countries around the world had to suspend testing. This is partially due to lack of reagent unavailability, and partially due to slow, and ineffective testing. A testing mechanism that can deliver millions of tests per country per week is the need of the hour in the cell counting market. This presents one of the biggest business opportunity for innovation.
Covid-19 Impact on the Cell Counting Market
Covid-19 has resulted a two-fold profound impact on the cell counting market. On one hand, the diagnosis of covid-19 virus, increasing blood tests, and rising funding for research has been a boon for cell counting. On the other hand, Covid-19 has also resulted in major delays in services, and increase in costs of services. According to the World Trade Organization, the export value generation of cell counting instruments remains similar to most pharmaceutical products that rely heavily on other industries. Hence, while pharmaceutical industry generated 47.8% its global export value through chemicals, and pharmaceuticals, the major portion of value generation happened through various services. These services include wholesale and retail sales (10.4%), transport and storage (3.3%), finance and insurance (3.7%), and other services like electricity, public services, and gas bills accounting for 2.6% of the total value generation. Hence, during Covid-19, keeping supply chains open, and securing long-term partnerships with supplier is an essential strategy for growth for players in the cell culture market.
Cell counting market, thanks to robust technological advancement heavily relies on the R&D in the North America, and Europe. According to the World Bank data, European Union supplied 42, 204,046,89 medical kits in 2020 to counter covid-19 around the world. While Switzerland came a distant second with a supply of 34,594,659.93. Despite the strong lead of Europe in supplying covid-19 medical kits, the key export in 2020 in the cell counting market, the US managed to lead total revenues in the pharmaceutical products. The US exported USD140 billion worth of pharmaceutical products in 2020, followed by Germany, and China.
The regional analysis of the cell counting market also shows a heavy reliance on foreign inputs. In 2016, the total foreign input in chemical, and pharmaceutical products remained at 25.5% on average. The US with its major lead in exports relied on lowest foreign inputs at less than 10%. China and Japan also registered low dependency on foreign inputs, nearing 14% on average. In regions like Chinese Taipei, and Singapore, the dependency on foreign inputs remained highest with 40% materials being imported from foreign regions.
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