Investment in R&D of cell culture for the development of personalized medicines has increased significantly from past years. Numerous companies are investing in cell culture technology; thereby, creating an opportunity for the growth of the market in the near future. This increased use of cell-based analysis in cell culture for numerous types of diseases is expected to promote the growth of the market in the near future. For instance, researchers at the University of Adelaide have been researching stem cells for the treatment of cystic fibrosis. This involves harvesting the adult stem cells from the lungs, correcting those cells with cell therapy and again reintroducing the cells in the body of the patient as a part of treatment. All such advances in technology and increasing expenditure in R&D is expected to propel the growth of the market over the coming years.
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The biopharmaceutical companies closely doubled their R&D investment in personalized medicine over the past five years and suppose to increase their investment in the near future. Moreover, estimates of disease susceptibility or disease prognosis can be improved by combining genomic test results with the knowledge about various factors such as age, lifestyle, or tumor size. This is promising for predicting disease susceptibility, disease prognosis, or drug response of an individual patient. The US FDA has received a significant number of personalized medicines for its approval in the past years. As per the US FDA data, the organization has approved around 21% of personalized medicines in 2014, which rammed up to 34% in 2017. These figures reflect the surging demand for personalized medicines across the globe, promising ample opportunities for the single cell analysis market.
Emerging economies likely to account significant contribution in the single cell analysis market
The improvement in the economic conditions of emerging economies such as China and India are expected to support the market’s growth. The prime factor for this is a rapidly growing Indian population and a significant share of the middle-class population that cannot afford the western medicines. Moreover, changing healthcare scenarios across India is creating opportunities for an increase in demand for drugs used to treat disorders related to the CNS and CVDs. The increasing application of cell culture in drugs and cancer treatment is giving rise to the development of cell culture in these economies. Emerging economies such as China and India have significant potential for the cell harvesting market, as they are preferred sites for numerous manufacturers due to less stringent government regulations and easy availability of labor. This, in turn, reduces the cost of production of biologics in the countries, and hence, expected to propel the market growth in the near future.
Global Single-cell Analysis Market Segmentation
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Global Single-cell Analysis Market – Segment by Region
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