Cell Sorting Market is Expected to Reach at a CAGR of 7.6% during the forecast period 2023-2030
The development of technologically advanced cell sorting equipment is anticipated to fuel market expansion
Growing pharmaceutical and biotechnological firms, technological advancements, and increasing research and development in cell sorting technologies are likely to boost the market's growth throughout the course of the projected period.
The market is expected to grow faster than average over the forecast period due to the pharmaceutical and biotechnology industries' increased usage of technologies in research and development.
The expansion of the cell sorting market is primarily caused by the expanding use of cell sorting in the creation of personalized medicine.
Cell Sorting Market was valued at 337.25 billion in 2023 and is projected to reach 435.67 billion by 2030, growing at a CAGR of 7.6% from 2023-2030.
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The expansion of the cell sorting market is primarily caused by the expanding use of cell sorting in the creation of personalized medicine. Personalized medicine development procedures rely heavily on cell sorting technology. Specific cells, immune cells, and stem cells are isolated and examined using these methods.
The development of personalized medicine requires the investigation of some of the uncommon cells that are frequently present in the human body in lesser numbers and that are more difficult to investigate using conventional technologies. Cell sorting methods have been applied in these circumstances to study such uncommon cells.
Competitive Landscape of the Cell Sorting Market
The major players operating in the global Cell Sorting industry include the major market players are Becton, Union Biometrica, Inc., Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Miltenyi Biotec GmbH, Sony Biotechnology, Inc., Affymetrix Inc., Sysmex Partec GmbH, On-Chip Biotechnologies Co., Ltd., and Cytonome/ST, LLC.
North America is expected to have the greatest rate of growth in the cell sorting market.
North America held the greatest market share. due to the expanding prevalence of chronic and infectious diseases, the rise in the number of pharmaceutical and biotechnology businesses, and the significant expenditures and funding made in cell-based research. Over 37% of the US population or 133 million people, are affected by chronic diseases, according to the National Health Council.
It is anticipated that by 2020, there would be 157 million people worldwide, 81 million of whom will have various illnesses. Due to the increased demand for cell sorting, market participants are engaging in product innovation and making significant investments in the study and development of cell sorting.
Lack of technical skills and the high cost of cell sorting equipment are the main market restraints.
The various features and functions of cell sorting equipment are what makes them expensive. As a result of the numerous research activities that research institutions must conduct using a large number of cell sorters, the capital cost of purchasing cell sorting goods has increased significantly.
Due to financial limitations, academic research laboratories also struggle to afford such equipment. This aspect is anticipated to slow market growth over the coming years.
There was a moderate impact of covid-19 pandemic on the cell sorting market.
Fluorophore-conjugated antibodies are separated from one another using a complex analytical technique called cell sorting, depending on the fluorophore they were labeled with. It is anticipated that the rising incidence of cancers such as lung, colorectal, breast, and liver will hasten the process of sorting cancer cells. Additionally, the development and clinical testing of the SARSCoV2 vaccine is of interest to other laboratories.
A large portion of this endeavor will be carried out by laboratories through the sorting of unfixed antigen-specific lymphocytes. Therefore, it is crucial and timely that we comprehend risk assessment and tried-and-true infectious cell sorting techniques. As a result, during this pandemic, the cell sorting market experienced moderate growth.
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