ALBANY, New York, March 9, 2018 /PRNewswire/ --
The global flow cytometry market was valued over US$ 3,072 Mn in 2016 and is projected to register cumulative annual growth rate (CAGR) of over 11.0% from 2017 to 2025, according to a new report published by Transparency Market Research titled "Global Flow Cytometry Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025". The report suggests that rising demand for advanced medicine due increased chronic and acute diseases globally increasing the pharmaceutical researches and drug discovery operations is spurring the growth of flow cytometry in coming years (2017 to 2025).
The North America and Europe are projected to dominate the global flow cytometry market in the coming years owing to increase in manufacturer focus for business expansion in these regions. Players are continuously developing advanced flow cytometry instruments & products and entering into distribution agreements to fortify their footprints in the North American and European markets. Growing adoption of technologically advanced products manufactured by local manufacturers like Flowcytometry Solutions Pvt. Ltd. is likely to drive the Asia Pacific flow cytometry market. The Asia Pacific flow cytometry market is expected to witness CAGR of over 13% from 2017 to 2025.
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Flow Cytometry Instruments Dominates the Market Followed by Reagents & Consumables
The report offers detailed segmentation of global flow cytometry market based on technology, product & services, application, and end-user. Among the product & services segment, flow cytometry instrument segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Factors attributed to the higher share of the reagent segment in the global market include increased the use of advance flow cytometry instruments in novel drug discovery, and targeted based drug discovery. Reagents & consumables segment is likely to register comparatively higher growth rate in terms of value in the global flow cytometry market during the forecast period owing to continuous innovations in the product technologies by major market players.
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Pharmaceutical & Drug Discovery and Diagnostics: Top Two Application Areas of Flow Cytometry
Among applications, Pharmaceutical & Drug Discovery segment is projected to hold dominant share of global flow cytometry market during the forecast period and is likely to expand at CAGR more than 10% from 2017 to 2025. Major factors responsible for the dominance of this segment are continuous innovations in flow cytometry instruments and wide product portfolio of major as well as local manufacturers. For instance In October 2017 Sysmex America Inc. introduced CyFlow Antibodies for the application in clinical flow cytometry. Such continuous new product launches, along with exponentially rising patient base in developed as well as developing countries are likely to drive the segment between 2017 and 2025. According to JAMA oncology, in the year 2015 around 17.5 million new cancer cases was estimated globally, around 8.8 million death observed from cancer, which is nearly 1 in 6 deaths. Software and services segment, accounted for more than 28.0% share of global flow cytometry market in 2016, in terms of value.
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Growth of the Asia Pacific Flow Cytometry Market Likely To Be Hinged At China, Japan
In terms of value, North America was leading contributor in global flow cytometry market in 2016. Increased demand of flow cytometry products and increasing prevalence rate of immunological diseases such as HIV/AIDS among the population is the U.S. are some factors contributing for major share of the North America market. However, competition from image analyzer, scanning cytometers, dearth of skilled technician for data interpretation & technical implications are likely to hamper this market. Healthcare spending in emerging markets such as China and India are rising, which is fuelling the expansion of Asia Pacific flow cytometry market. Regaining economic growth in Latin American markets such as Brazil is augmenting healthcare expenditure through rise in private health insurance, entry of international drug manufacturers and health care providers in this region. This factor is likely to propel Latin America flow cytometry market at CAGR of 9% from 2017 to 2025.
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Highly Consolidated Market with Top Three Players Accounting For More Than 50.0% of the Global Market
The report also provide profiles of leading players operating in global flow cytometry market Becton, Dickinson and Company (BD), Merck & Co., Inc., and Beckman Coulter, Inc. (Danaher) are major players operating in the market, offering wide range of products such as Becton, Dickinson and Company (BD) offers almost all the flow cytometry products includes instruments, software, antibodies, etc. Merck & Co., Inc. offers flow cytometry instruments, reagents kits, assay kits etc., while Beckman Coulter, Inc. (Danaher) offers advanced technological product as flow cytometry analyzer which offers infrared lasers and ultraviolet with avalanche photodiode sensors. Flowcytometry Solutions Pvt. Ltd. and Sysmex Partec GmbH are the other major players in the developed and developing countries, respectively. Expansion of flow cytometry product portfolio through partnerships to improve drug and biological product analysis is a growing trend in global flow cytometry market. For instance, on 17th January, 2018 Premas Life Sciences Pvt., Ltd. and IncellDx, Inc., signed agreement for diagnosis of solid tumor carcinoma that can now possible to analyzed for protein and molecular biomarkers by flow cytometry. Other prominent players in the global chemiluminescence immunoassay (CLIA) analyzers market include Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Bio-Techne., Alere, Inc. and Miltenyi Biotec GmbH.
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