NEW YORK, April 3, 2024 /PRNewswire/ — The global flow cytometry market size is estimated to grow by USD 6.04 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of about 13.12% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 35%.
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North America is expected to play a pivotal role in propelling the global flow cytometry market
Geographic Landscape:
The Flow Cytometry Market in North America is experiencing robust growth due to the rising prevalence of infectious diseases such as HIV and sexually transmitted diseases, as well as chronic conditions like cancer. Government initiatives, PoC diagnostics, and the adoption of advanced technologies, including small-sized high-throughput cytometers from companies like Sony Biotechnology, Inc. and its CGX10, are key drivers. Major players in the market include BD, Beckman Coulter, and CellMek SPS. The Clinical segment dominates, with significant demand from clinical testing labs and academic institutes. The Industrial segment also contributes, with applications in stem cell research and population-based statistics. The market’s growth is influenced by factors such as regulatory environment, research activities, and financial support. Consumables, cost of instruments, maintenance costs, and product installation costs are significant expenditures. Developing nations are investing in cell sorters and analyzers, driven by public-private funding initiatives. The market caters to the needs of pharmaceutical & biotechnology companies and academic & research institutes, utilizing multiparametric data, fluorescent-labeled antibodies, reagents, and accessories for HIV/AIDS, cancer, and other research areas.
Market Drivers
The Flow Cytometry Market in clinical testing labs is experiencing significant growth due to the integration of IoT in pathology laboratory services. This technology is essential for HIV/AIDS and Cancer diagnosis, with applications in stem cell research and population-based statistics. The market includes expenditure on consumables such as cell sorters, analyzers, fluorescent-labeled antibodies, reagents, and accessories. Costs associated with product installation, maintenance, and the high cost of instruments are considerations. Developing nations are investing in public-private funding initiatives to increase access to advanced technology. Research activities in academic & research institutes and pharmaceutical & biotechnology companies are driving financial support. Technological knowledge and skilled professionals are crucial control parameters. Regulatory environment and regulatory compliance are essential considerations. Fluorescent-labeled compounds and multiparametric data facilitate decision-making in drug discovery services.
Market Overview
The Flow Cytometry market is a significant segment of the diagnostic and research industries. This technology is utilized for identifying and analyzing cells based on their physical and chemical properties. Invented in the late 1960s, flow cytometry has since evolved into an indispensable tool for various applications, including immunophenotyping, apoptosis analysis, and DNA content measurement. The market is driven by factors such as increasing research and development activities, technological advancements, and growing demand for personalized medicine. Companies like Beckman Coulter, BD Biosciences, and Thermo Fisher Scientific dominate the market, offering a range of instruments, reagents, and services. The market is expected to grow at a CAGR of around 7% from 2021 to 2028. The use of flow cytometry in cancer research and diagnostics is a major contributor to this growth. Additionally, the technology’s ability to provide real-time analysis and high-throughput data makes it a preferred choice for researchers and clinicians alike. The market’s future looks promising, with ongoing advancements in automation, multiplexing, and data analysis expected to further expand its applications and user base.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Website: www.technavio.com/
SOURCE Technavio
