Flow Cytometry Market - Growth, Trends, and Forecast (2019 - 2024)
発行: Mordor Intelligence Pvt Ltd
ページ情報: 英文 112 Pages
The global flow cytometry market was valued at USD 303.51 million in 2018 and is estimated to reach USD 490.11 million in 2024, while witnessing a CAGR of 8.3% during the forecast period, 2019-2024. The key factors propelling the market include the rise in the use of flow cytometry in stem cell research, the emergence and commercial application of new technologies in the field of flow cytometry, and rise in the applications of flow cytometry in clinical research.
There is a significance of flow cytometry in clinical research that is fueling the demand for flow cytometry techniques in R&D departments of the healthcare sector. The increasing incidences of HIV and cancer statistics show a significant unmet opportunity in cancer and AIDS diagnostics. There is a large void in diagnostics accessibility, particularly in the developing regions. Consequently, the increasing incidences of HIV AIDS and cancer can be considered a significant growth opportunity for the flow cytometry market.
Flow cytometry is a laser or an impedance-based technology, which is used in cell counting, detecting biomarker, cell sorting, and protein engineering, by suspending the cell in a stream of fluid and then passing them through a detection apparatus. It is the ideal tool to identify, characterize, and isolate stem and progenitor cells, for research and potential clinical use.
Stem Cell Therapy is Expected to Hold the Largest Market Share, by Application
The stem cell therapy segment is believed to have the largest market size and is expected to witness a CAGR of 8.4% during the forecast period.
The key reasons for the large market share include the extensive use of flow cytometry for effective diagnosis and early detection of numerous diseases that have helped the market to gain immense shares. There has been a growing market penetration in stem cell research, adoption of recombinant DNA technology for antibody production, and the evolution of tandem flow cytometry technologies that are expected to offer growth opportunities for the players operating in the flow cytometry market during the forecast period.
Though flow cytometry has also found many applications in several stages of drug discovery, its routine widespread use for high throughput drug screening has been limited. This is unlike analogous technology, automated high content imaging (HCI), which, in terms of drug screening, is an established technology that is common in screening laboratories.
North America Dominates the Market and is Expected to Continue its Lead over the Forecast Period
North America holds a major share of the flow cytometry market and is projected to continue over the next few years. An increasing prevalence of diseases and the rising contribution from the US market are expected to help the market grow. In addition, there has also been a rise in the expansion of novel products that are anticipated to offer new growth opportunities in the coming years.
The flow cytometry market is considered highly consolidated due to the presence of very few players in the market. These players are holding a huge share of the market and are likely to remain in a similar competitive environment for the next few years. The rising importance of product development and the rise in R&D activities are projected to encourage the growth of the flow cytometry market.