Flow Cytometry Market To Reach A Revised Size of USD 8.4 Billion By 2028, Growing At A CAGR of 8.7% | Valuates Reports
BANGALORE, India, Oct. 12, 2022 /PRNewswire/ -- Flow Cytometry Market is segmented by Type - Cell-Based Flow Cytometry, Bead-Based Flow Cytometry, by Application - Academic & research institutes, Hospitals & clinical testing laboratories, Pharmaceutical & biotechnology companies. Global Opportunity Analysis and Industry Forecast, 2022 - 2028. It is published in Valuates Reports under the Pharmaceuticals & Biotech Category.
The global market for Flow Cytometry estimated at USD 5.1 billion in the year 2022, is projected to reach a revised size of USD 8.4 billion by 2028, growing at a CAGR of 8.7% during the forecast period 2022-2028.
Major Factors Driving the Growth of The Flow Cytometry Market are
During the forecast period, factors including the high prevalence of the targeted disorders and rising R&D expenditures in biotechnology, clinical, and life science research are anticipated to considerably fuel market expansion.
The Flow Cytometry market is being driven by increased R&D efforts by many prominent players for the creation of multicolor assays and cutting-edge analytical reagents. The market for flow cytometry has experienced rapid expansion as a result of the rising prevalence of chronic and infectious disorders, notably the COVID-19 outbreak.
In addition, an increase in the prevalence of diseases like cancer and HIV is anticipated to increase the Flow Cytometry market growth.
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TRENDS INFLUENCING THE GROWTH OF FLOW CYTOMETRY MARKET
The Flow Cytometry market expansion is expected to be driven by technological developments in flow cytometry devices. The development and commercialization of technologically cutting-edge flow cytometry solutions with streamlined workflows, simple operations, and quicker turnaround times are becoming the focus of major players in the global flow cytometry market. Especially in developed markets where the adoption rate of technologically cutting-edge items is high, such innovative products are anticipated to have a significant demand rise during the projection period.
Increasing incidences of Cancer and immunodeficiency are expected to fuel the flow cytometry market. Cancer and immunodeficiency are two conditions that are frequently diagnosed using flow cytometry. One of the elements anticipated to propel the market for flow cytometry over the forecast period is the rising prevalence of certain disorders. Additionally, the negative effects of chemotherapy and radiation therapy in the treatment of cancer have led doctors to favor autologous and allogeneic stem cell therapies more, thus influencing the development of this industry.
Public-private funding initiatives in stem cell research are expected to increase the Flow Cytometry market. Global stem cell research efforts are driven by several factors, including a large number of stem cell product pipelines and the growing use of stem cells to treat a variety of diseases, in addition to the favorable regulatory environment in emerging nations. The growing number of research initiatives and financial backing from governmental and private entities in the stem cell research sector also lend support to this.
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FLOW CYTOMETRY MARKET SHARE ANALYSIS
North America is expected to be the most lucrative region. The development of the flow cytometry market in the region is being fueled by elements like the presence of a favorable business environment, expanding government support through funds and grants, the high prevalence of HIV/AIDS and cancer, a growing focus on the development of treatment options for target diseases (such as cancer and immunological disorders), and the strong presence of key players.
Based on type, the bead-based flow cytometry segment is expected to be the most lucrative. This is because it analyses more samples simultaneously, takes up less time, and is widely used in research applications.
Based on application, Academic & research institutes are expected to be the most lucrative. The demand for flow cytometry products in this end-user segment is driven by academic institutions' increasing emphasis on developing assays for cutting-edge applications.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- Beckman Coulter
- Sysmex
- Agilent Technologies
- Merck
- Apogee
- Bio-Rad Laboratories
- Thermo Fisher
- Stratedigm
- Luminex
- Miltenyi Biotec
- GE
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