Global Flow Cytometry Market: Snapshot
The global market for flow cytometry is growing at a healthy pace and is likely to ensure high growth over the next few years. The increasing investments by the leading companies for the research and development activities is likely to accelerate the development of the overall market in the coming few years. In addition to this, the rise in the number of applications and the rising prevalence of diseases are projected to ensure the overall growth of the market in the coming years.
As per the market research study, in 2016, the global market for flow cytometry was worth US$3,072 mn and is projected to reach a value of US$8100 mn by the end of 2025. The market is further expected to register a promising 11.0% CAGR between 2017 and 2025.
Increasing Stem Cell Research to Drive Flow Cytometry Market
A substantial rise in the adoption of flow cytometry techniques in the clinical trials and research activities is projected to encourage the growth of the global flow cytometry market in the next few years. The increasing prevalence of cancer and HIV/AIDS and the technological developments are anticipated to attract a large number of players, thus enhancing the market growth in the near future. In addition to this, the growing availability of novel application-specific flow cytometry products and the rising stem cell research are estimated to support the market growth in the near future.
On the contrary, the lack of skilled professionals and the lack of proper knowledge concerning the use of flow cytometry are predicted to restrict the market growth in the near future. Also, the high cost of flow cytometry products and the increasing complications concerning the reagent development are predicted to curb the development of market in the near future. Nonetheless, the rising focus of the players on the developing economies is anticipated to ensure the growth of the global flow cytometry market in the near future.
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North America Flow Cytometry to Witness High Growth in Near Future
The global market for flow cytometry has been categorized on the basis of geography into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. In 2016, North America held a large share of the flow cytometry market and is predicted to continue with its position over the next few years. The rising prevalence of diseases and the rising contribution from the U.S. are some of the factors that are estimated to enhance the market growth in the coming few years. In addition, the rising number of cases of HIV and cancer and the rise in the use of flow cytometry for the drug discovery are projected to accelerate the growth of the overall market in the coming few years. Also, the rise in the development of new products is predicted to offer potential opportunities for the players in the coming few years.
The global market for flow cytometry is considered as highly consolidated in nature, owing to the presence of a few players who are engaged in the market. These players are holding a huge share of the market and is likely to remain in a similar competitive environment in the next few years. The rising emphasis of the players on product development and the rise in the research and development activities are projected to encourage the growth of the flow cytometry market in the coming few years. Some of the key players engaged in the flow cytometry market across the globe are Bio-Rad Laboratories, Inc., Sysmex Partec GmbH, Becton, Dickinson and Company, Thermo Fisher Scientific, Inc., and Merck KGaA.
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