(EMAILWIRE.COM, June 19, 2023 ) According to the new market research report “Flow Cytometry Market Size, Growth by Technology (Cell-based, Bead-based), Product & Service (Analyzer, Sorter, Consumables, Software), Application ((Research – Immunology, Stem cell), (Clinical – Hematology)), End user (Biotech, Hospitals) – Global Forecast to 2027″, is projected to reach USD 6.9 billion by 2027, at a CAGR of 8.1%.
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331 Market Data Tables
332 Pages and in-depth TOC on ” Flow Cytometry Market – Global Forecast to 2027
This report also provides a comprehensive analysis of the companies listed below:
The key players in the Flow Cytometry Market include Becton, Dickinson and Company (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), and Luminex Corporation (US).
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Flow Cytometry Market.
North America accounted for largest share in Flow Cytometry market
The North American market is mature with high penetration of flow cytometry technologies among key end users. However, this market is still expected to offer high growth opportunities because of the expanding application areas of flow cytometry in clinical settings. Factors such as the presence of a favorable business environment, growing government support through funds and grants, high prevalence of HIV/AIDS and cancer, growing focus on the development of treatment options for target diseases (such as cancer and immunological disorders), and the strong presence of key players are driving the growth of the flow cytometry market in the region.
US- High incidence of cancer and HIV-AIDS drives the market growth
The high prevalence of cancer (including leukemia, lymphoma, and myeloma), HIV-AIDS, and autoimmune disorders, coupled with the increasing demand for early and effective disease diagnosis and treatment, are the major factors driving market growth in the US. For instance:
As of 2019, an estimated 1.2 million people were living with HIV, and ~ 36,801 people received an HIV diagnosis in the US.
According to the National Cancer Institute, in 2020, an estimated 1,806,590 new cancer cases were diagnosed in the US, and 606,520 people were expected to die from the disease.
The most common cancers in the US (listed in descending order according to estimated new cases in 2020) are breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, endometrial cancer, leukemia, pancreatic cancer, thyroid cancer, and liver cancer.
CANADA: Ongoing government initiatives for life science research expected to drive demand for flow cytometry products
Canada has several R&D clusters that drive and support innovation in Canadian universities, institutes, and technology incubators. In January 2019, the Centre for Commercialization of Regenerative Medicine (CCRM) and GE Healthcare established the Centre for Advanced Therapeutic Cell Technologies (CATCT) in Toronto, Canada, emphasizing the industrialization of cell manufacturing. This initiative is focused on scalingfor instance, the production of 36 billion pluripotent stem cells in a 10-liter batch. CCRM and GE also focus on developing advanced media customization to optimize cell culture and cell therapy workflows. This development will boost the demand for analytical instruments (such as flow cytometers) to identify and design new treatment strategies for patients.