Rapid developments in cell biology continue to fuel the growth of flow cytometry market. Moreover, rise in chronic diseases such as cancer accentuates the demand for flow cytometry. Augmented demand for flow cytometry in studying protein-protein interaction, fluorescent protein detection, tumor characterization, and cell signaling will favor market growth, projects Fact.MR.
“Role of flow cytometry in stem cell research continues to accentuate its demand. On that premise, the market is projected to exhibit stupendous growth at approximately 11.4% CAGR over the forecast period (2020-2025). Furthermore, clinical applications will drive the revenue pool to US$ 8.1 Bn by the end of 2025,” concludes Fact.MR.
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Flow Cytometry Market – Key Findings
- Pharmaceuticals & drug delivery continues to be key growth segment of flow cytometry market.
- Use of flow cytometry in diagnostic purposes will offer lucrative opportunities through 2025.
- Academic & research institutions will continue to be prominent end users during the projection period.
- North America flow cytometry market accounts for 1/3rd of total demand.
- Flow cytometry market in Asia Pacific will experience strong growth trajectory over the forecast period.
Flow Cytometry Market – Key Driving Factors
- Growing emphasis on therapeutic medication is escalating the growth of flow cytometry market.
- Role of flow cytometry in novel drugs characterization is bolstering market growth.
- The market growth will be invigorated by immunological diseases diagnosis over the projection period.
- Continual research and development is impelling the growth of global flow cytometry market.
Flow Cytometry Market – Key Restraints
- Underdeveloped healthcare infrastructure in developing countries is hampering market growth.
- Relatively high price point of flow cytometry continues to limit market growth.
Impact of COVID-19 on Flow Cytometry Market
Growing impact of COVID-19 on the healthcare industry has interrupted the global supply chain leading to decline in sales. Business leaders in the global flow cytometry market are continuously analyzing the situation and the implications associated with it. The rapidly evolving situation is making even the most prominent manufacturers nervous. Flow cytometry method is used for counting specific cells based on antigens unique to that type of cell. In view of current outbreak, demand for diagnostic testing has grown manifolds. Besides monitoring the cell count is an important part of patient management. Hence, the glow cytometry market is witnessing a spike in growth which will continue through later half of 2020.
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Some of the key stakeholders featured in this Fact.MR study include, but are not limited to, Bio-Techne, SYSMEX CORPORATION, Thermo Fisher Scientific Inc., Beckman Coulter, Inc., Becton Dickinson & Company, Merck & Co., Agilent Technologies, Inc., Miltenyi Biotec, Alere Inc., and Bio-Rad Laboratories Inc. Among the aforementioned companies, Merck & Co. holds the leading share in the overall market stack. Top players continue to strengthen their product portfolio and renew their focus on organic growth strategies. Moreover, they opt for other strategies such as acquisitions for continued competitive ascendancy.
About the Report
This 170-page study offers in-depth commentary on the flow cytometry market. The study provides compelling insights on the flow cytometry market on the basis of technology (cell-based, bead-based), products & services (reagents & consumables, flow cytometry instruments, software, services), application (pharmaceutical & drug discovery, diagnostics), end users (hospital & diagnostic labs, academic & research institutions) across five regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).