The global cell counting market is projected to reach USD 12.32 billion by 2023 from USD 8.84 billion in 2018, at a CAGR of 6.8%. Factors such as growing incidence of diseases and disorders, development of enhanced solutions and improved image analysis, and growing use of high-throughput flow cytometry and automated hematology analyzers are driving the growth of this market. However, the high cost of advanced cell counting systems and product recalls for instruments such as hematology analyzers are restraining the growth of this market to a certain extent.
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In this report, the market is segmented on the basis of product, application, end user, and region. On the basis of product, the global cell counting market is segmented into instruments and consumables. The consumables segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to their increasing use in various research applications such as stem cell research, cancer research, in the diagnosis of blood disorders, along with use in various quality control procedures in industries like food and beverage, pharmaceutical, biotechnology environmental monitoring, and water treatment.
On the basis of application, the cell counting market is segmented into research applications, clinical & diagnostic applications, and industrial applications. The clinical & diagnostic application segment accounted for the fastest growth in the cell counting market during the forecast period. The growth of this segment can be attributed to use of various cell counting instruments and consumables in a wide range of diagnostic tests. With the increasing prevalence of diseases like cancer, HIV/AIDS, and blood disorders, the number of diagnostic tests will increase, driving the growth of this segment.
Based on end user, the cell counting market is segmented into research institutes, hospitals, clinical laboratories, pharmaceutical & biotechnology companies, and other end users (food and beverage companies and environmental testing companies). A surge in cell-based research and increasing research investment in the field of AIDS, cancer, infectious diseases, and blood disorders are some of the factors driving the growth of research institutes market segment. However, the hospitals market segment is expected to witness the highest growth during the forecast period. This can be attributed to the large adoption of cell counting equipment for the diagnosis and treatment of several diseases along with the continuous consumption of consumables.
Geographically, the cell counting market in the APAC region is expected to register the highest CAGR during the forecast period. This regional market is expected to grow at the highest rate during the forecast period as several APAC countries are witnessing a growing number of proteomics, genomics, and stem cell research activities; increasing research funding; increasing investments by pharmaceutical and biotechnology companies; and growing trend of research infrastructure modernization. The rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for advanced technologies, and expansion of private-sector hospitals to rural areas in various countries in the APAC region are the other major factors supporting the growth of the cell counting market in this region.
