(PharmaNewsWire.Com, October 27, 2020 ) Factors contributing to the growth of this market include the rising incidence and prevalence of chronic and infectious diseases, growing funding for cancer research, growing cell-based research, and development of apoptosis-modulating drugs.
The global apoptosis assays market is projected to reach USD 5.9 billion by 2023 from USD 3.6 billion in 2018, at a CAGR of 10.5%.
Based on detection technology, the cell imaging and microscopy is expected to grow at the fastest growth rate during the forecast period. The cell imaging and microscopy segment is expected to witness the highest CAGR due to its increasing adoption of cell imaging and microscopy in diagnostic laboratories, drug discovery applications, and basic research.
On the basis of product, the assay kits segment is expected to account for the largest share of the market in 2018. The large share can be attributed to the repeated consumption of assays in various apoptosis procedures. On the other hand, among all the detection technology, the flow cytometry is most widely used for apoptosis process.
The apoptosis assays market in APAC is expected to grow at the highest CAGR during the forecast period. The highest CAGR is due to the increasing prevalence of chronic and infectious diseases in this region, large patient population, increasing healthcare spending, and growing interest of key players in APAC countries. Also, owing to the high growth opportunities in the APAC region, many manufacturers are expanding their global manufacturing bases to this region.
With their low-cost manufacturing advantage, China and India are regarded as the most profitable manufacturing and R&D locations by manufacturers. However, the presence of a large number of local players in this region has led to intense price competition among global players operating in the APAC.
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