Flow Cytometry Market to be Worth Over $6.4 Billion by 2027 With CAGR of 8.2%| Top Key Players Like Agilent Technologies, Inc. , Thermo Fisher Scientific Inc. , Apogee Flow Systems Ltd. , Sysmex Partec GmbH, Luminex Corporation , Miltenyi Biotec GmbH
Meticulous Research®– leading global market research company published a research report titled “Flow Cytometry Market by Product & Solution (Consumables, Instrument, Software, Service), Technology (Cell-based, Bead-based), Application (Cancer, Immunology, Hematology), and End-user (Pharmaceutical, Biotech, Academia) – Global Forecast to 2027”.
According to this latest publication from Meticulous Research®, the global Flow Cytometry Market is expected to grow at a CAGR of 8.2% from 2019 to reach to $6.4 billion by 2027. The growth of the flow cytometry market is mainly attributed to the rising global incidence and prevalence of chronic diseases, increasing adoption of flow cytometry techniques in research and academia, and growing initiatives in the field of immunology and immuno-oncology researches. Moreover, the evolving pipeline for stem cell research and the adoption of recombinant DNA technology for antibody production offer significant growth opportunities for the players operating in this market. However, complexities related to reagents development is the key factor expected to hinder the adoption of flow cytometry products to a certain extent.
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Key questions answered in the report-
Which are the high growth market segments in terms of product & services, technology, application, end-users, and region/countries?
What was the historical market for flow cytometry across the globe?
What are the market forecasts and estimates for the period 2019-2027?
What are the major drivers, restraints, opportunities, and challenges in the overall flow cytometry market?
Who are the major players in the flow cytometry market?
How is the competitive landscape and who are the market leaders in the overall flow cytometry market?
What are the recent developments in the overall flow cytometry market?
What are the different strategies adopted by the major players in the overall flow cytometry market?
What are the geographical trends and high growth regions/ countries?
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The global flow cytometry market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2027- by product & solution (consumables, instrument, software, service), technology (cell-based, bead-based), application (cancer, immunology, hematology, industrial), end-user (pharmaceutical & biotech companies, research & academia, diagnostic laboratory) – forecast to 2027. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on technology, the cell-based technology segment held the largest share of the overall flow cytometry market in 2019. The large share of this segment is mainly attributed to the increasing utilization of this technology in research and development activities of novel therapeutic drugs and the advantage of analyzing characteristics and properties of targeted cells with ease. On the other hand, bead-based technology is expected to grow at a higher CAGR during the forecast period owing to the several procedural advantages offered by this technology.
Based on product and solution, the consumables and reagents segment accounted for the largest share of the overall flow cytometry market in 2019 and is expected to grow at the highest CAGR during the forecast period. The commercialization of high-quality application-specific reagents and assays by end-users is supporting the growth of this segment. Also, the continuous requirement of flow cytometry reagents by end-users further supports the growth of this segment.
Based on the end-user, the flow cytometry market is broadly segmented into pharmaceutical & biotechnology companies, diagnostic laboratories, and research & academic institutes. During the forecast period, the diagnostic laboratory segment is expected to register the fastest growth in the flow cytometry market. Some of the major factors contributing to the fastest growth of this segment are rising prevalence of chronic and infectious diseases, growing awareness regarding various chronic diseases, rising willingness to get an accurate diagnosis, and a growing number of laboratories adopting flow cytometers as the advanced diagnostic technology.
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Geographically, North America commanded the largest share of the global flow cytometry market in 2019, followed by Europe and Asia Pacific. The factors such as the availability of skilled professionals, higher awareness level, and the presence of supportive government reforms for the development of advanced technologies are accelerating the flow cytometry market in the North American region.
The key players operating in the global flow cytometry market are Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Apogee Flow Systems Ltd. (U.K.), Sysmex Partec GmbH (Germany), Luminex Corporation (U.S.), Miltenyi Biotec GmbH (Germany), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux S.A. (France), Cytonome/ST LLC (U.S.), Beckman Coulter, Inc. (U.S.), and Becton, Dickinson and Company (U.S.) among others.
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