Flow Cytometry Market to Witness a Pronounce Growth
During 2018 to 2023
According to Market Research Future (MRFR), the global Flow Cytometry Market is expected to register a CAGR of 11.5% from 2018 to 2023 (forecast period). The report assesses the COVID-19 impact on the industry, including future opportunities and threats, drivers and risks, and market growth estimates based on different scenarios.
Flow cytometry is used to identify the physical and chemical properties of a cell or a particle. A cell’s flow cytometry can determine cell size, cell count, cell cycle, and other cell characteristics. It allows scientists and researchers to extract precise cell or particle information.
The increasing use of flow cytometry in the diagnosis of diseases, the increasing use of flow cytometry in health research, and the growing adoption of new technologies are responsible for the growth of the market. In addition, the growing prevalence of HIV/AIDS and cancer cases leads to the growth of the market.
The rising cost of flow cytometry instruments and reagents, the lack of awareness of the applications of flow cytometry, and the shortage of technicians may hinder the growth of the market during the assessment period.
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The global market for flow cytometry has been segmented based on products & services, technology, application, and end-user.
By products & services, the global market for flow cytometry has been segmented into reagents and consumables, services, software, flow cytometry instruments, and accessories. The segment for flow cytometry instruments has been further divided into cell analyzers and cell sorters.
By technology, the global market for flow cytometry has been divided into cell-based flow cytometry and bead-based flow cytometry.
By application, the global market for flow cytometry has been divided into research applications, industrial applications, and clinical applications. The segment for research applications has been segmented into immunology and pharmaceutical and biotechnology. The pharmaceutical and biotechnology sub-segment has been divided into stem cell research, drug discovery, and in vitro toxicity testing. Moreover, the immunology segment has been sub-segmented into cell sorting, apoptosis, cell cycle analysis, cell viability, and other research applications. The segment for clinical applications includes cancer, organ transplantation, hematology, immunodeficiency diseases, and other clinical applications.
By the end-user, the global market for flow cytometry has been segmented into commercial, research institutes, hospitals and clinics, and academic institutes.
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The global market for flow cytometry has been segmented, by region, into the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas are expected to dominate the global market for flow cytometry due to the presence of a well-established healthcare system, the implementation of highly advanced technology and the rise in the number of patients suffering from autoimmune disorders in the region and the rise in the use of flow cytometry for diagnostic purposes. As per the American Autoimmune Related Diseases Association, over 50 million Americans suffer from autoimmune disease. It is one of the leading causes of death in women and children.
The second-largest flow cytometry market is expected to be the European market. Market growth in this area can be due to government funding and support for research and development activities, raising awareness of health diagnostics and rising cancer cases in the region. In addition, growing research and development activities in the pharmaceutical industry boost the growth of the market in the region. For example, as per the European Federation of Pharmaceutical Industries and Associations, the European pharmaceutical industry invested more than USD 33,557 million in research and development activities in 2015.
The Asia Pacific is projected to be the fastest-growing flow cytometry market during the forecast period due to the high prevalence of autoimmune diseases, increasing awareness of healthcare, increasing investment and collaborative activities in healthcare, and the expansion of market players in the region. For example, Beckman Coulter, Inc. entered into a comprehensive distribution agreement with Grifols S.A. in June 2017 to extend its diagnostic portfolio.
The market in the Middle East and Africa is estimated to witness the lowest share of the global flow cytometry market due to the weak healthcare sector, lack of technical knowledge, and inadequate medical facilities.
Some of the key players identified by MRFR in the flow cytometry are Beckman Coulter, Inc., Dickinson and Company., Becton, Danaher., Bio-Rad Laboratories, Inc., Luminex Corporation., Merck KGaA, Miltenyi Biotec, Thermo Fisher Scientific, Agilent Technologies, Inc., Sony Corporation, Biomérieux S.A., Sysmex Partec GmbH, and Enzo Biochem Inc.