The flow cytometry market is projected to register a CAGR of 7.8% from USD 3.29 billion in 2017 to USD 4.79 billion in 2022. Growth in flow cytometry market can be attributed to factors such as the continuous technological advancements in the field of flow cytometry, increasing incidence and prevalence of target diseases (such as HIV/AIDS and cancer), growing adoption of flow cytometry in advanced research activities and clinical trials, and increasing availability of novel application-specific flow cytometry products.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=65374584
The global flow cytometry market is segmented by technology, product and services, application, end user, and region.
By technology, the global flow cytometry market is segmented into cell-based and bead-based flow cytometry. The bead-based flow cytometry segment is estimated to witness the highest growth during the forecast period. This technology offers various procedural advantages over other cell-based assays such as the capacity to detect multiple analytes (also known as multiplexing), high reproducibility, stability, and speed.
On the basis of products and services, the flow cytometry market is segmented into reagents and consumables, instruments, services, software, and accessories. The reagents and consumables segment accounted for the largest share of the global flow cytometry market. This is primarily attributed to the development of high-quality reagents by manufacturers and the launch of specific reagents for specific applications.
By application, the flow cytometry market is segmented into research, clinical, and industrial applications. The clinical diagnostics segment is expected to grow at the highest CAGR during the forecast period. This high growth is mainly attributed to the growing usage of flow cytometry in organ transplantation, cancer diagnosis, and hematological disorder treatment. In addition to this, the availability of new products with enhanced accuracy and broad application horizons in both clinical and research fields are further intensifying market growth.
On the basis of end users, the flow cytometry market is segmented into academic and research institutes, hospitals and clinical testing laboratories, and pharmaceutical and biotechnology companies. The hospitals and clinical testing laboratories segment is estimated to witness the highest growth during the forecast period, primarily due to the increasing awareness regarding the use of flow cytometry for disease diagnosis and monitoring as well as the growing demand for early and effective disease diagnosis and treatment.
Geographically, North America is expected to command the largest share of the global flow cytometry market in 2017, followed by Europe. However, the Asia Pacific market is expected to grow at the highest CAGR from 2017 to 2022. Key factors driving the growth of the market in APAC include the increasing participation of China, India, Japan, and South Korea in flow cytometry-based research; expansion of research infrastructure; and growing public-private initiative aimed towards boosting advance research practices in this region.
