The market growth is largely driven by factors such as growing funding for cell-based research, rising incidence of chronic and infectious diseases, growing biotechnology and biopharmaceutical industries, the development of enhanced solutions and improved image analysis, and the growing use of high-throughput flow cytometry and automated hematology analyzers. On the other hand, the high cost of cell analysis is expected to hinder market growth to a certain extent.
The medical application segment will grow at the highest CAGR in the cell counting market. Increasing government initiatives in stem cell research and the wide usage of cell counting in research are the major factors driving the growth of the research applications segment during the forecast period.
The hospitals and diagnostic laboratories will grow at the highest CAGR during the forecast period. The high growth of this segment can primarily be attributed to the growing regulatory approvals for cell culture-based vaccines, increasing pharmaceutical RD expenditure, and commercial expansion of various pharmaceutical companies.
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The APAC region is expected to grow at the highest CAGR during the forecast period. The large growth of this segment can be attributed to factors such as the growing number of proteomics, genomics, and stem cell research activities; increasing research funding; increasing investments by pharmaceutical and biotechnology companies; and the growing trend of research infrastructure modernization.
Key Market Players
The major companies in the cell counting market include Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), Becton, Dickinson and Company (US), Merck KGaA (Germany), and Bio-Rad Laboratories (US)