Flow Cytometry Market Size & Share to Surpass $9.03 Billion by 2030 | Vantage Market Research
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WASHINGTON, Nov. 20, 2023 (GLOBE NEWSWIRE) -- According to Vantage Market Research, the Global Flow Cytometry Market is estimated to be valued at USD 9.03 Billion by 2030 at an exponential growth of 8.8% in the next seven years.
The increasing occurrence of cancer, immunodeficiency disorders, and infectious diseases is propelling the industry's growth of Flow Cytometry. Additionally, there is an increased demand for Flow Cytometry instruments due to the growth in investments in research activities in the fields of biotechnology, life science, and biopharmaceuticals.
The Report Provides Insights on the Following Pointers
Market Penetration: Provides comprehensive information on the market offered by the key players.
Market Development: Provides in-depth information about lucrative emerging markets and analyses penetration across mature segments of the markets.
Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments.
Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation.
Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The introduction of new and improved analytical tools through technological advancements in Flow Cytometry, such as the development of microfluidic Flow Cytometry for Point-of-Care (POC) testing, is also contributing to industry growth.
Factors Affecting the Growth of the Flow Cytometry Industry
Advances in Flow Cytometry technologies have played a significant part in propelling the expansion of the Flow Cytometry industry. These advancements have improved instrumentation, software, and reagents, making Flow Cytometry more efficient, accurate, and user-friendly.
Flow Cytometry has various applications across various fields, including basic research, clinical diagnostics, drug discovery, and industrial applications. The increasing adoption of Flow Cytometry in these applications has contributed to the industry's growth.
The overall growth of the healthcare industry, coupled with increasing healthcare expenditure, has had a positive impact on the Flow Cytometry industry. As healthcare spending continues to grow, there is a greater emphasis on personalized medicine, early disease detection, and effective patient health monitoring.
The rising occurrence of chronic diseases like autoimmune disorders, cancer, and infectious diseases has created a need for precise diagnostics and better therapeutic monitoring. Flow Cytometry provides a valuable tool for understanding disease mechanisms, identifying disease markers, and monitoring treatment responses.
Collaborations between academic and research institutions, pharmaceutical companies, and Flow Cytometry instrument manufacturers have also played a significant role in the industry's growth. These collaborations promote knowledge sharing, facilitate technology transfer, and support the development of new applications and products.
Key Highlights
Based on the Technology segment, the Cell-based Flow Cytometry category is expected to witness the most prominent market growth over the projected period.
Furthermore, based on the Products and Services segmentation, the Instruments segment is expected to lead the market during the projected period.
The market was ruled by North America in 2022 with a market share of 42.6%.
The Asia Pacific region is likely to observe extreme market growth over the forecast period.
Prominent Players in The Global Flow Cytometry Market Report Scope:
One of the top market trends in the Flow Cytometry market is the increasing focus on personalized medicine. Personalized medicine, which involves tailoring medical treatment to an individual's unique characteristics, is gaining significant attention in healthcare. Flow Cytometry plays a crucial role in personalized medicine by enabling the identification and characterization of specific cell populations and biomarkers associated with individual patients.
The rising applications in drug discovery and development are another noteworthy trend. Flow Cytometry is playing an increasingly important role in drug discovery and development. It is being widely used in the screening of potential drug candidates, evaluation of drug efficacy, and assessment of drug safety.
Key Strategies in the Global Flow Cytometry Market
The global Flow Cytometry market is highly competitive and fragmented, with several key players dominating the market. These players compete based on product quality, technological advancements, pricing strategy, distribution network, and customer support. They also focus on strategic collaborations, partnerships, & acquisitions to strengthen their market position and grow their product portfolio. The competitive landscape in the global Flow Cytometry market is expected to intensify further in the coming years, with an increasing number of players entering the market. Here are crucial insights into key competitors and success strategies in the industry:
Companies focus on developing innovative and advanced products to meet the evolving needs and preferences of customers, which include improvements in instrument design, software capabilities, and the development of new reagents and antibodies for specific applications.
Companies explore new applications and develop new assays and protocols to expand the market for Flow Cytometry.
Collaborations and partnerships with other companies, research institutes, and academic institutions help companies in the Flow Cytometry market to access new markets, gain new customers, and leverage complementary technologies.
Companies focus on increasing their market share by expanding their presence in existing markets and targeting new customer segments. This involves geographic expansion, launching targeted marketing campaigns, and offering competitive pricing and service packages.
Companies invest in training and education programs for customers, clinicians, and researchers to enhance their skills and understanding of Flow Cytometry, thereby increasing the adoption and usage of the technology.
Recent Development of the Global Flow Cytometry Market
In June 2023, Becton Dickinson and Company (BD) announced the introduction of BD FACSDuet™ Premium Sample Preparation System, a new automated machine for sample preparation in clinical diagnostics using Flow Cytometry, which aims to enhance consistency and replicability in cellular diagnostics. This instrument allows for a complete "walkaway" workflow solution.
In November 2022, Sony Corporation unveiled SFA—Life Sciences Cloud Platform, a cloud-based tool for processing Flow Cytometry data that facilitates the easy identification of uncommon cells in various cell populations, including cancer cells and stem cells. The method does this by utilizing information from flow cytometers.
In September 2022, Becton, Dickinson, and Company launched BD Research Cloud. This cloud-based software program optimizes the Flow Cytometry workflow to assist researchers in many disciplines, including virology, oncology, immunology, and infectious disease surveillance, in conducting more effective studies and obtaining findings more quickly.
Cell-based Flow Cytometry segment accounted for the most significant market growth in 2022.
The cell-based Flow Cytometry segment is driven by advancements in technology, such as the development of high-throughput Flow Cytometry systems and the integration of Flow Cytometry with other techniques like genomics and proteomics.
The growth in the prevalence of chronic disorders and the need for efficient diagnostic tools are also contributing to the growth of this segment.
Product and Service Analysis
The instrument segment is expected to have major market growth during the projected timeframe.
This is attributed to the creation of innovative instrument designs, the need for exceptionally efficient replaceable parts, utilization in the treatment of emerging diseases, and the growth of research and advancements in the field of Flow Cytometry methodologies.
Application Analysis
The research applications segment is expected to experience a significant increase in market share as it is being increasingly utilized in academic and scientific domains.
The clinical applications segment held a noteworthy portion of the market in 2022, owing to the efforts towards research and development focused on cancer and infectious diseases such as COVID-19. Moreover, the escalating investments in research and development within the biotech and pharmaceutical sector are expected to foster a favorable atmosphere for expanding the market.
End User Analysis
Academic & Research Institutions segment accounted for the highest market share in 2022
The demand for Flow Cytometry in academic and research institutions is driven by the need for advanced tools to study complex biological systems and investigate diseases at the cellular level.
Browse market data Tables and Figures spread through 250 Pages and in-depth TOC on Flow Cytometry Market Forecast Report (2023-2030).
Regional Analysis
North America is dominating the market for Flow Cytometry due to the advanced technology and robust healthcare infrastructure in the United States.
The region's extensive use of this technology, along with its high healthcare expenditures, contributes to its leading position. Moreover, the presence of renowned research universities and established pharmaceutical companies increases the demand for Flow Cytometry for research purposes.
The growing occurrence of infectious and chronic diseases, such as the recent COVID-19 pandemic, further drives the need for Flow Cytometry for both studying and diagnosing these conditions.
Scope of the Report:
Report Attributes
Details
Market Size in 2022
USD 4.6 Billion
Revenue Forecast by 2030
USD 9.03 Billion
CAGR
8.8% from 2023 to 2030
Base Year
2022
Forecast Year
2023 to 2030
Key Players
Danaher Corp., Becton Dickinson and Company, Sysmex Corp., Agilent Technologies Inc., Apogee Flow Systems Ltd., Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Stratedigm Inc., DiaSorin S.P.A., Miltenyi Biotec, Sony Biotechnology Inc.
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