Factors such as rising incidence and prevalence of chronic and infectious diseases, growing availability of funds for research and rising demand for cell-based assays in research, and increasing focus on the development of cell-based therapeutics are driving the growth of this market.
The global cell viability instruments market is projected to reach USD 4.16 billion by 2023 from USD 2.78 billion in 2018, at a CAGR of 8.4%.
The emerging markets are expected to provide growth opportunities for players operating in the cell viability assays market in the coming years. However, the high cost of instruments is expected to restrain the growth of this market to a certain extent during the forecast period.
# Manufacturers of cell viability instruments and consumables
# Distributors of cell viability instruments and consumables
# Research and development organizations
# Hospitals and clinics
# Diagnostic centers
# Market research and consulting firms
# Venture capitalists and investors
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By product, the consumables segment is expected to account for the largest share of the cell viability assays market in 2018
On the basis of product, the consumables segment is expected to account for the largest share of the cell viability assays market in 2018. This large share can be attributed to the repeated consumption of consumables in various cell viability procedures.
The growing focus on stem cell and cancer research is another major driver for the growth of the cell viability consumables market along with the growing application of cell viability in quality control procedures in various industries, such as food and beverage, pharmaceutical, biotechnology products manufacturing, environmental monitoring, and water treatment.
Major Objectives of the Study:
# To define, describe, segment, and forecast the global cell viability assays market by product, application, cell type, end user, and region.
# To provide detailed information about the factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges).
# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
# To forecast the size of the cell viability assays market in five main regions (along with major countries) North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
# To profile key players in the global cell viability assays market and comprehensively analyze their core competencies and market shares.
By end user, the pharmaceutical and biotechnology companies segment is estimated to hold the largest share of the cell viability assays market in 2018
On the basis of end user, the cell viability instruments market is segmented into pharmaceutical and biotechnology companies, hospital and diagnostic laboratories, academic and research institutes, and other end users (food and beverage companies and environmental testing companies).
The pharmaceutical and biotechnology companies segment is expected to account for the largest share in 2018. The large share of this segment can be attributed to the increasing number of R&D activities undertaken by these companies for the development of biopharmaceutical products.
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North America to dominate the market in 2018
North America is expected to account for the largest share of the cell viability assays market in 2018, followed by Europe and Asia Pacific. The growing incidence rate of various infectious diseases, investment initiatives by the government, and the high-quality infrastructure for clinical and laboratory research are the major factors responsible for the large share of the North American cell viability assays market. Moreover, a number of major global players are based in the US, owing to which, the US is a center for innovation in the cell viability assays market.
Players in the global cell viability instruments market, such as Thermo Fisher Scientific (US), Bio-Rad Laboratories (US), Merck (Germany), GE Healthcare (US), BioTek Instruments (US), PerkinElmer (US), Promega Corporation (US), Biotium (US), Abcam plc (UK), Canvax (Spain), Abnova (Taiwan), G-Biosciences (US), Creative Bioarray (US), Danaher Corporation (US), and Becton, Dickinson and Company (US), are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies of product launches, expansions, agreements, collaborations, and acquisitions.