Newark, Oct. 18, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 4.3 billion flow cytometry market will reach USD 9.3 billion by 2032. The increasing incidences of chronic diseases, the increasing demand for new technologies, and the increasing investment in the research and development activities is expected to boost the growth of the flow cytometry market. The rise in healthcare spending in developed and developing nations is anticipated to give businesses a competitive edge as they expand into cutting-edge, brand-new flow cytometry marketplaces. However, the high price of flow cytometry equipment is expected to hinder the market’s growth during the forecast period.
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North America to account for the largest market size during the forecast period.
North America is expected to have the essential flow cytometry market share. The market is fuelled by the rising prevalence of chronic diseases and the expansion of cytometry equipment in the region's many applications. Additionally, it is anticipated that continuing developments in cancer and infectious diseases, such as COVID-19, will propel the regional market. Additionally, it is anticipated that over the course of the projected period, intensive research initiatives by regional companies for the advancement or development of novel flow cytometry solutions will boost market expansion in the region.
The instrument segment dominated the market with the most significant revenue of USD 1.33 billion.
The instrument segment dominated the market with the most significant revenue of USD 1.33 billion.
The cell-based segment dominated the market with the most significant revenue of USD 3.13 billion.
The cell-based segment dominated the market with the most significant revenue of USD 3.13 billion. The growing need for early diagnosis and a developing understanding of the advantages of cell-based assays are reasons for the segment's dominance.
The clinical segment dominated the market with the most significant revenue of USD 2.62 billion.
The clinical segment dominated the market with the most significant revenue of USD 2.62 billion. The rising R&D expenditures in the pharmaceutical and biotechnology sectors will likely foster the segment's growth during the forecast period.
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Market Dynamics:
Drivers: Increasing application of cytometry instruments
Technological advances in cytometry instruments are increasing by fusing several fresh methods to offer high resolution and sensitivity to quantify novel cell entities.
The initial diagnosis and classification of acute leukaemia, chronic lymphoproliferative diseases, and malignant lymphomas, as well as their therapy, depend on the immunophenotypic study. Following chemotherapy or organ transplantation, flow cytometry can be used as a sensitive assay to monitor patients' progress and find minimally recurrent disease (MRD).
Restraint: High cost
Although benchtop instruments are the most prevalent, flow cytometers come in various sizes and configurations. They provide convenient usage, data analysis, upgrades, and alternatives for a range of systems, all designed to address concerns with customised separations, cell/particle sorting, exploratory cell analysis, and other things. Fluids, optics, and electronics/informatics are the three components that all flow cytometers share.
Opportunity: Rising healthcare expenditure
A wide range of economic and social factors, including the health system's financial arrangements and organisational structure, influence the amount of money a nation spends on healthcare and its growth rate over time. Particularly, there is a significant correlation between a nation's overall income level and the amount of money its citizens spend on health care.
Challenge: Lack of knowledge
In the execution of mass cytometry, administering and evaluating the consequent high-layered informative indicators provide a significant bottleneck. Numerous computational techniques exist, but the major problem is a need for more knowledge about how to utilise them correctly and a lack of knowledge about the fundamental data used for analysis. This leads to the conclusion that one of the major challenges flow cytometry market players face is the creation of reagents that have the potential to work in several colours and offer high application speed, accuracy, and ease. Additionally, the market is restricted by a need for more awareness regarding the potential benefits of flow cytometry instruments and the prohibitive costs of the required equipment.
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Some of the major players operating in the flow cytometry market are:
● Agilent Technologies, Inc.
● Becton, Dickinson, and Company (BD)
● Danaher Corp.
● Sysmex Corp.
● Bio-Rad Laboratories, Inc.
● Apogee Flow Systems Ltd.
● DiaSorin SpA
● Thermo Fisher Scientific, Inc.
● Sony Biotechnology, Inc.
● Stratedigm, Inc.
● Miltenyi Biotec
Key Segments cover in the market:
By Product:
● Instruments
● Software
● Reagents & Consumables
● Accessories
● Services
By Technology:
● Bead-based
● Cell-based
By Application:
● Industrial
● Clinical
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About the report:
The global flow cytometry market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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