$2.9 Bn Live Cell Imaging (Instruments, Consumables, Software, Services) Market - Global Forecasts to 2023

Tuesday, 18. June 2019 13:24

Dublin, June 18, 2019 (GLOBE NEWSWIRE) -- The "Live Cell Imaging Market by Product (Instruments, Consumables, Software, Services), Application (Cell Biology, Stem Cells, Drug Discovery), End User (Pharmaceutical & Biotechnology Companies, Research Institutes) - Global Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.

The live cell imaging market is expected to reach USD 2.9 billion by 2023 from an estimated USD 1.9 billion in 2018, at a CAGR of 8.9% during the forecast period.

Market growth is largely driven by the growing adoption of high-content screening techniques in drug discovery, rising incidence of cancer, and the growth in funding for research. However, factors such as the high cost of high-content screening systems and the shortage of skilled professionals are expected to restrain the growth of this market during the forecast period.

By product & service, the consumables segment is expected to grow at the highest rate during the forecast period.

On the basis of product and service, the global live cell imaging market is segmented into instruments, consumables, software, and services. The consumables segment is expected to grow at the highest CAGR during the forecast period. Unlike instruments, which are considered as a one-time investment, consumables are required to be purchased frequently.

This is the major factor driving the growth of the live cell imaging consumables market. The increasing applications of live cell imaging assays and advancements in live cell imaging technologies are some of the other major factors that are driving the demand for live cell imaging consumables.

The pharmaceutical & biotechnology companies segment dominated the market in 2018.

On the basis of end user, the live cell imaging market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, and contract research organizations (CROs). In 2018, the pharmaceutical & biotechnology companies segment accounted for the largest share of the live cell imaging market. The large share of this segment can be attributed to the increasing R&D activities and the patent cliff of various blockbuster drugs.

The Asia Pacific live cell imaging market is expected to grow at the highest CAGR during the forecast period.

Asia Pacific, comprising China, India, Japan, and Rest of Asia Pacific countries offers high-growth opportunities for players in the live cell imaging market. This segment is slated to register the highest CAGR during the forecast period. Some of the factors driving market growth in the Asia Pacific region are government initiatives for research on stem cell therapy, increasing aging population, rising prominence for regenerative medicine research, increasing number of researchers in Japan, growth of preclinical/clinical research in China, favorable changes in foreign direct investment (FDI) regulations in the pharmaceutical industry in India, and growth of the pharmaceutical and biopharmaceutical sectors in South Korea.

Market Dynamics

Drivers

  • Rising Adoption of High-Content Screening Techniques in Drug Discovery
  • Rising Incidence of Cancer
  • Growing Availability of Funds for Research

Restraints

  • High Cost of High-Content Screening Systems

Opportunities

  • Emerging Markets
  • Application of HCS in Personalized Medicine

Challenges

  • Maintaining Cell Viability & Cellular Environment in the Culture
  • Dearth of Skilled Professionals

Companies Mentioned

  • Biotek Instruments
  • Bruker
  • Carl Zeiss AG
  • Cytosmart Technologies
  • Danaher Corporation
  • Etaluma
  • GE Healthcare
  • Nanoentek
  • Nikon Corporation
  • Olympus Corporation
  • Perkinelmer
  • Sartorius AG
  • Thermo Fisher Scientific

For more information about this report visit https://www.researchandmarkets.com/r/4qrxf1

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