Thermo Fisher Scientific (US) and Merck (Germany) are the leading players in the Cell Viability Assays Market
The global cell viability assays market is projected to reach USD 4.16 billion by 2023 from USD 2.78 billion in 2018, at a CAGR of 8.4%. Factors such as rising incidence and prevalence of chronic and infectious diseases, growing availability of funds for research and rising demand for cell-based assays in research, and increasing focus on the development of cell-based therapeutics are driving the growth of this market. The emerging markets are expected to provide growth opportunities for players operating in the cell viability assays market in the coming years. However, the high cost of instruments is expected to restrain the growth of this market to a certain extent during the forecast period.
Players in the global cell viability assays market, such as Thermo Fisher Scientific (US), Bio-Rad Laboratories (US), Merck (Germany), GE Healthcare (US), BioTek Instruments (US), PerkinElmer (US), Promega Corporation (US), Biotium (US), Abcam plc (UK), Canvax (Spain), Abnova (Taiwan), G-Biosciences (US), Creative Bioarray (US), Danaher Corporation (US), and Becton, Dickinson and Company (US), are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies of product launches, expansions, agreements, collaborations, and acquisitions.
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Thermo Fisher is the leading player in the cell viability assay kits market. The company offers a broad portfolio of cell viability assays for flow cytometers, microplates, biofilm imaging, along with other consumables ranging from reagents to stains and dyes. The company’s stronghold in the market is largely due to its strong product portfolio and strong customer relations and its strong sales and distribution network. It also leverages the advantage of three well-established brands Thermo Scientific, Fisher Scientific, and Unity Lab Services. Additionally, its large number of production sites gives it a competitive advantage over other players in the cell viability assays market. The company’s extensive R&D activities enable it to increase its depth of capabilities in technologies, software, and services. Moreover, its significant investments in R&D enable it to provide innovative products in the market space, thus enabling it to maintain and improve its competitive position in the cell analysis market. The company’s FDA and CE Mark-approved products have helped it to further enhance its presence in this market. Thermo Fisher also focuses on geographic expansions. In line with this, the firm opened new GMP facilities in the US and South Korea in 2016. Moreover, the company aims to strengthen its presence in selected geographies in the Asia Pacific region, undertaking various organic and inorganic growth strategies.
Merck is the second-largest player in the global cell viability assay kits market in 2018. With a strong brand name and wide geographic coverage in more than 60 countries, Merck has a well-established presence in this market. This company is expected to witness high growth in this market by adopting various organic and inorganic growth strategies. With regard to providing innovative products, Merck invests a significant amount of its sales revenue in R&D. In 2017, it invested around 14% of its sales revenue into R&D. This allows the company to extend its technological capabilities and provide superior-quality products, thereby helping it to achieve long-term growth. The company is also investing a large sum in its expansion projects to increase its production capacity and cater to a larger consumer base. In this regard, the company invested USD 19 million in its new manufacturing and distribution center for the Life Science business in India, in 2018. Similar investments have been made by the company in the last few years. The acquisition of Sigma-Aldrich significantly enhanced the company’s global presence and broadened its portfolio in the cell viability assays market.
Related Reports:
Cell Viability Assays Market by Product (MTT Assay, XTT Assay, Calcein, Resazurin, Flow Cytometry, Spectrophotometer), Cell Type (Human, Animal, Microbial), Application (Basic Research, Stem Cell, Discovery & Development) - Global Forecast to 2023
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