London, Feb. 13, 2020 (GLOBE NEWSWIRE) -- According to a new market research report “Flow Cytometry Market by Product & Solution (Consumables, Instrument, Software, Service), Technology (Cell-based, Bead-based), Application (Cancer, Immunology, Hematology), and End-user (Pharmaceutical, Biotech, Academia, Laboratory) – Global Forecast to 2027”, published by Meticulous Research®, the flow cytometry market is expected to grow at a CAGR of 8.2% from 2019 to reach $6.4 billion by 2027.
Flow cytometry is an analytical tool which is used in the measurement and analysis of several physical characteristics of cells or particles suspended in a fluid using a laser beam. The method helps to subclassify cell types to decide on the best treatment plan and can also detect residual levels of the disease after treatment.
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Flow cytometry has emerged as a key tool for safety and exploratory purposes during the drug discovery and development processes. Technological ability to analyze many particles in a short period of time to provide statistically robust information about the cell population is one of the major reasons for its emergence as a key tool. Also, it is supported by the availability of funding for various clinical trial projects. For instance, in September 2018, the U.S. FDA awarded 12 new clinical trials a grant of ~$18 million over a period of four years. These clinical trials are aimed at developing products for patients with rare diseases.
The flow cytometry market study presents historical market data in terms of value (2017, and 2018), estimated current data (2019), and forecasts for 2027 - by product & solution, technology, application, end user, and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on technology, the cell-based technology segment held the largest share of the overall flow cytometry market in 2019. The large share of this segment is mainly attributed to the increasing utilization of this technology in research and development activities of novel therapeutic drugs and advantage of analyzing characteristics and properties of targeted cells with ease. However, bead-based technology is expected to experience a rapid adoption during the forecast period of 2019-2027. This technology efficiently discriminates between uniformly sized particles based on their intrinsic properties and possess high stability and reproducibility as compared to the cell-based technology. Moreover, high speed and less time for consumption further supports the rapid adoption of this technology.
On the basis of product and solution, the consumables and reagents segment accounted for the largest share of the overall market in 2019. Requirement and commercialization of high-quality application-specific reagents and assays by the end users is supporting the growth of this segment.
Based on application, the research applications segment accounted for the largest share of the overall flow cytometry market in 2019, due to growing initiatives undertaken by the governments and companies for increasing the adoption of flow cytometry products for research activities as well as increasing research in cancer and other infectious diseases. However, the clinical applications segment is expected to register the fastest CAGR during the forecast period of 2019-2027.
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Based on end user, the pharmaceuticals and biotechnology companies segment accounted for the largest share of the overall market in 2019 and is also expected to dominate the flow cytometry market over the forecast period. The growth of this segment is mainly attributed to the increasing chronic cases, which encourages the development of new drugs and rise in R&D expenditure by the companies. However, during the forecast period, the diagnostic laboratories segment is expected to register the fastest growth in the flow cytometry market. Some of the major factors contributing to the growth of this segment are the rising prevalence of chronic and infectious diseases, growing awareness regarding various chronic diseases, rising willingness to get accurate diagnosis, and growing number of laboratories adopting flow cytometers as the advanced diagnostic technology.
The report also includes the extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2016–2019). The flow cytometry market has witnessed number of new product launches; agreements, partnerships & collaborations; expansions; and acquisitions in the recent years. For instance, in April 2018, Becton, Dickson and Company (U.S.) launched the BD FACSymphony S6 cell sorter to provide researchers a platform to better understand cell phenotypes for various immunology and multi-omics researches. Similarly, in November 2018, Agilent Technologies, Inc. (U.S.) entered into an agreement to acquire ACEA Biosciences Inc. (U.S.) to expand its global revenue base, product portfolio, and strengthen market share in the overall cell analysis market.
The key players operating in the global flow cytometry market are Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Apogee Flow Systems Ltd. (U.K.), Sysmex Partec GmbH (Germany), Luminex Corporation (U.S.), Miltenyi Biotec GmbH (Germany), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux S.A. (France), Cytonome/ST LLC (U.S.), Beckman Coulter, Inc. (U.S.), and Becton, Dickinson and Company (U.S.) among others.
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Scope of the Report:
Flow Cytometry Market, by Technology
- Cell-Based Flow Cytometry
- Bead-Based Flow Cytometry
Flow Cytometry Market, by Product & Solution
- Consumables and Reagents
- Instruments
- Cell Analyzers
- Cell Sorters
- Software
- Accessories
- Services
Flow Cytometry Market, by Application
- Research applications
- Drug Discovery
- Stem Cell Research
- Immunology
- Cell Sorting
- Apoptosis
- Other Research Applications
- Clinical Applications
- Cancer
- Organ Transplantation
- Immunodeficiency Diseases
- Hematology
- Other Clinical Applications
- Industrial Applications
Flow Cytometry Market, by End User
- Research and Academic Institutes
- Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
Flow Cytometry Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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Key questions answered in the report-
Consumables and reagents accounted for the largest share of the flow cytometry market
- What factors are contributing to the huge demand of consumables and reagents across the region?
- How does the adoption of consumable and reagents differ from other products?
Pharmaceutical and biotechnology companies accounted for the largest share of the flow cytometry market
- What factors contribute to the frequent usage of overall flow cytometry products in pharmaceutical and biotechnology companies?
- Which geographic segment is expected to experience the fastest growth in the usage of flow cytometry products in pharmaceutical and biotechnology companies?
- How does the penetration of flow cytometry products differ from other end users such as research and academic institutes and diagnostic laboratories?
The flow cytometry market favors both larger and local manufacturers that compete in multiple segments
- What are the top competitors in this market and what strategies do they employ to gain shares?
- What factors are driving growth and which market segments have the most potential for revenue expansion over the forecast period?
- What strategies should new companies look to enter this market use to compete effectively?
- What are the major drivers, restraints, challenges, and opportunities in the flow cytometry market?
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