Published: Apr, 2018
Transparency Market Research (TMR) in its latest research report on the global flow cytometry market states that leading players within this market are offering advanced products such as products with ultraviolet and infrared lasers or even avalanche photodiode sensors. The report further states that players within the market are attempting to expand their product portfolio as well as their geographical reach with other companies. This step is becoming increasingly essential so as to improve their biological product and drug analysis. The leading players within the market namely Dickinson and Company (BD), Becton, Merck & Co., Inc., and Beckman Coulter, Inc. (Danaher) accounted for a whopping 50% of the total market in 2016.
According to TMR, the global flow cytometry market is anticipated to expand it 11% CAGR between 2017 and 2025 and be worth US$8100 mn by 2025. On the basis of geography, key markets within the flow cytometry market are North America and Europe due to the efforts taken by players within these regions to develop Advanced flow cytometry instruments. Players Within the market in these two regions are also entering into distribution agreements which are resulting in strengthening their positions in the market. Asia-pacific is also anticipated to be a lucrative regional market in the years to come and expanded a healthy 13% CAGR during the forecast period.
Use of Flow Cytometry Instruments to Increase on Account of Extensive Use in Target Based and Novel Drug Discovery
On the basis of product and service, the flow cytometry instruments segment has been leading in the market and is expected to continue to do so on account of the rising use of advanced flow cytometry instruments for target based drug discovery as well as novel drug discovery. The highest growth rate within the product and service segments is anticipated to be witnessed by the reagents and consumable segment. Fast growth is expected to be witnessed in the years to come by the reagents and consumable segments on account of the consistent efforts taken by market players in order to achieve innovation in the product technologies.
In terms of application, the pharmaceutical and Drug Discovery segment is leading and will continue to do so, expanding at the 10% CAGR between 2017 and 2025 on account of growing innovation in flow cytometry instruments as well as an increase in the product portfolio thanks to the efforts by manufacturers.
Growing Demand for Point-Of-Care Testing Driving Growth of Flow Cytometry Market
According to the lead author of this report, there has been a tremendous rise in the demand for flow cytometry on account of the rise in the diagnosis of systemic diseases. The growth of the flow cytometry market is also linked with the rise in the prevalence of cancer, HIV, AIDS, immunological diseases and similar other chronic diseases. An increasing number of doctors are showing inclination towards the use of allergenic and autologous stem cell therapies instead of using radiation and chemotherapy and this is the resulting in an upsurge in the demand for flow cytometers. The demand for flow cytometry is also anticipated to increase on account of the growing demand for point-of-care testing for disease management of patients suffering from chronic diseases. Moreover, increasing investments of time and money towards research and development, by leading players will work in the favour of the growth of the global flow cytometry market as the efforts in this direction is leading to the development of advanced reagents as well as multicolor assays.
Image and Scanning Cytometers Threatening Demand for Flow Cytometry
Enhanced accuracy, cost-effectiveness, and portability are other positive results of R&D by players within the market, which is expected to drive the growth prospects of this market. On the other hand, the growth of this market is threatened by substitute such as image and scanning cytometers. A lack of awareness will also impact the markets negatively to a certain extent.
This review is based on the findings of a TMR report titled “Flow Cytometry Market (Technology - Cell-based, Bead based; Products and Services - Reagents and Consumables, Flow Cytometry Instruments, Software and Services; Applications - Pharmaceutical and Drug discovery, Diagnostics; End Use - Hospitals and Diagnostic Labs, Academic and Research Institutions) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 – 2025.”
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
US Office Contact