SAN FRANCISCO, March 1, 2021 /PRNewswire/ --The global flow cytometry market size is expected to reach a value of USD 11.5 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.9% from 2021 to 2027. The high prevalence of chronic diseases, the introduction of technologically advanced flow cytometry solutions, and increasing R&D investments in the pharmaceutical industry are expected to propel market growth over the forecast period.
Key suggestions from the report:
Instruments accounted for the largest market share in 2020, owing to its high demand for commercial and clinical applications
The software segment is expected to register the fastest growth owing to new product developments in this field
The research segment is anticipated to witness lucrative CAGR over the forecast period owing to increasing R&D activities pertaining to cancer and infectious diseases
The outbreak of COVID-19 has drastically upsurged the demand for advanced flow cytometry solutions for research purposes
North America dominated the market and accounted for the largest revenue share in 2020. Well-established healthcare infrastructure and the presence of an established pharmaceutical industry are facilitating the dominance of this region during the study period
The Asia Pacific region is expected to witness significant growth owing to the increasing demand for flow cytometry solutions in emerging economies such as China and India
Increasing regulatory approval and the introduction of technologically advanced flow cytometry solutions are expected to facilitate market growth over the forecast period. For instance, in June 2020, Sysmex Corporation launched the XF-1600 flow cytometer for laboratories, in North America. Also, in January 2019, Beckman Coulter, a subsidiary of Danaher Corporation, expanded its clinical flow cytometry portfolio with the launch of its new ClearLLab 10C System. This newly launched integrated solution provides a standardized workflow that offers reliability and consistent clinical findings.
Technological advancements, resulting in enhanced accuracy, portability, and cost-effectiveness, are expected to present this market with future growth opportunities. Small-sized high-throughput cytometers are anticipated to gain popularity in the near future due to their associated benefits, such as ease of use and cost-effectiveness. Furthermore, improvements in fluorescent dyes and the introduction of bench-top cytometers are factors expected to drive market growth. Rapid advancements in multicolor flow cytometry, which has extensive applications in new drug development, have led to an easy cellular analysis by simultaneous evaluation of several parameters. These devices are extensively adopted by many contract research organizations.
Furthermore, the increasing prevalence of cancer, immunodeficiency disorders, and infectious diseases, including the outbreak of COVID-19, has significantly driven the demand for flow cytometry solutions for research and clinical applications. As per the American Cancer Society estimates, in 2020, around 1.8 million new cancer cases will be diagnosed in the U.S. Also, according to the data published by the National Cancer Institute (NCI), as of January 2019, there were around 16.9 million cancer survivors in the U.S.
Grand View Research has segmented the global flow cytometry market on the basis of product, technology, application, end-use, and region:
Flow Cytometry Product Outlook (Revenue, USD Million, 2016 - 2027)
Reagents & Consumables
Flow Cytometry Technology Outlook (Revenue, USD Million, 2016 - 2027)
Flow Cytometry Application Outlook (Revenue, USD Million, 2016 - 2027)
In Vitro Toxicity
Cell Cycle Analysis
Flow Cytometry End-use Outlook (Revenue, USD Million, 2016 - 2027)
Clinical Testing Labs
Flow Cytometry Regional Outlook (Revenue, USD Million, 2016 - 2027)
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.