Major players in the live cell imaging market are Leica Microsystems, Olympus Corporation, Sigma-Aldrich Corporation, PerkinElmer Inc, GE Healthcare, Carl Zeiss Meditec AG, Becton Dickinson, and Company, Molecular Devices LLC, Bruker Corporation, and Sartorius AG.
The global live cell imaging market is expected to grow from $3.41 billion in 2021 to $3.73 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%. The market is expected to grow to $5.50 billion in 2026 at a compound annual growth rate (CAGR) of 10.2%.
The live-cell imaging market consists of sales of live cell imaging by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and selling live cell imaging equipment and consumables.Live-cell imaging equipment helps in providing a detailed study of internal structures and cellular processes for understanding the cellular structures of cell biology.
It also gives information on cells, proteins, and molecular interactions.
The main types of live cell imaging products include equipment, consumables, software.Equipment is the set of articles or physical resources serving to equip a person or thing.
The technology used in live-cell imaging is time-lapse microscopy, fluorescence recovery after photobleaching (FRAP), fluorescence resonance energy transfer (FRET), high content screening (HCS), others.Live-cell imaging finds its applications in cell biology, developmental biology, stem cell, and drug discovery, among others.
It is used in various sectors including pharmaceutical and biotechnology companies, academic and research institutes, contract research organizations (CROs).
The rising incidence of cancer is expected to drive the growth of the live cell imaging market in the forecast period.Cancer is the second major cause of death worldwide, accounting for one out of every six deaths each year.
For example, cancer cases are projected to increase to 29.5 million and cancer-related deaths to 16.4 million worldwide by 2040. In the United States, there were 16.9 million cancer patients in 2019, with the number expected to rise to 22.2 million by 2030. Live-cell imaging technology plays a crucial role in the advancement and validation of cancer immunotherapy through visualization, characterization, and evaluation of the biological process of living cells. Therefore, the rising incidence of cancer fuels the growth of the live cell imaging market.
Lack of skilled professionals is predicted to restraint the growth of the live cell imaging market.Live-cell imaging technology requires highly skilled professionals to understand and study the functions of cells.
According to Healthcare-in-Europe.com, an online platform that provides trends in medical technology, innovative procedures, and advances in medical research, the UK and Europe are facing a serious shortage of lab skills over the next decade with medical laboratories among the worst affected. Moreover, according to the research carried out by the Gatsby Foundation, the UK will need a further 700,000 technicians to support the economy by the end of 2030. Thus, the shortage of skilled professionals is likely to hinder market growth in the coming years.
In December 2020, PerkinElmer Inc., a USA-based company that focuses on diagnostics and includes capabilities of detection, imaging, informatics, and service acquired Horizon Discovery at an undisclosed amount. By combining the capabilities of Horizon with the life science research of PerkinElmer and applied genomics portfolios, PerkinElmer will be able to deliver complete workflow solutions to life science customers working on drug discovery and development. Horizon Discovery is a UK-based gene-editing company.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the live cell imaging market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
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