Flow Cytometry Market
Market Overview:
In 2018, the global flow cytometry market was valued at USD 303.51 million and is estimated to reach USD 490.11 million in 2024, while witnessing a CAGR of 8.3% over the forecast period 2019-2024. The key drivers of the market include the increase in the use of flow cytometry in stem cell research, the emergence and commercial application of new technologies in the field of flow cytometry, and an increase in flow cytometry applications in clinical research.
In clinical research, the importance of flow cytometry is fueling the demand for flow cytometry methods in healthcare industry R&D departments. The growing incidence of statistics on HIV and cancer shows a important unmet chance in diagnosis of cancer and AIDS. There is a great gap in accessibility to diagnostics, especially in developing areas. As a result, the increasing incidence of HIV AIDS and cancer can be seen as an important growth opportunity for the flow cytometry market.
Scope of the Report:
Flow cytometry is a laser or impedance-based technology used in cell counting, biomarker detection, cell sorting, and protein engineering, by suspending the cell in a fluid stream and then passing through a detection device. For research and potential clinical use, it is the ideal tool for identifying, characterizing and isolating stem and progenitor cells.
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Key Trends in the Flow Cytometry Market:
Stem Cell Therapy is Expected to Hold the Largest Market Share, by Application:
The stem cell treatment segment is thought to have the biggest size on the market and is anticipated to experience an 8.4 percent CAGR during the forecast period. The main reasons for the large market share are the extensive use of flow cytometry for effective diagnosis and early detection of numerous diseases that have helped the market to gain huge shares. There has been a increasing market penetration in stem cell research, the adoption of recombinant antibody manufacturing DNA technology, and the evolution of tandem flow cytometry techniques that are anticipated to provide growth possibilities for players working in the flow cytometry market during the forecast period.
Although in several phases of drug discovery, flow cytometry has also discovered many applications, its routine extensive use for high-throughput drug screening has been restricted. This is unlike similar technology, elevated content automated imaging HCI , which is an established technology prevalent in screening laboratories in terms of drug screening.
North America Dominates the Market and is Expected to Continue its Lead over the Forecast Period:
North America maintains a large share of the market for flow cytometry and is expected to proceed in the coming years. It is anticipated that growing disease prevalence and the growing contribution from the US industry will help the industry to develop. Furthermore, there has also been an increase in the development of new products that are expected to give fresh possibilities for development in the coming years.
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Competitive Landscape:
Due to the existence of very few players on the market, the flow cytometry industry is regarded extremely consolidated. These players have an enormous market share and are likely to stay for the next few years in a comparable competitive setting. In order to stimulate the growth of the flow cytometry industry, the increasing significance of product development and the increase in R&D operations are expected.
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