Flow Cytometry Market to See a Massive Financial Boost in the Forecast Period
Increasing age population who needs better healthcare, increase in chronic disease and need for better diagnosis and treatment are few driving factors that are impacting the flow cytometry market state AMR analysts Debbie Shields and Rohini Patil.
Portland, OR -- (SBWire) -- 06/25/2018 --Flow Cytometry Market Report, published by Allied Market Research, forecasts that the global market was valued $3 billion in 2012 , and is expected to reach$6.5 billion by 2020,supported by a CAGR of 30.9%during the period 2014-2022. Increasing needs to enhance precisions and produce faster results as well as a need for compact devices are compelling the clinical and diagnostic organization to adopt innovative technologies. Though popularity has been gained in the application field of life science industry, the cost of the instrument is impeding the growth. Due to this, many researchers are still reluctant in adopting this technology in their research work. Moreover, advancing technologies that has brought complex instrumentation requires highly skilled personals to operate these instruments.
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The Flow cytometry market is in developing phase. Enhancing precision in the results and the presence of numerous flow cytometry techniques such as multicolor and multi-parameter flow cytometry has acted as a strong foothold, assisting the market growth in the majority of the developed economies and foresees high potential in the emerging economies such as Asia Pacific and Africa. These economies have high demand for better health care techniques at an affordable cost. Increasing agepopulation who needs better healthcare, increase in chronic disease and need for better diagnosis and treatment are few driving factors that are impacting the flow cytometry market state AMR analysts Debbie Shields and Rohini Patil.
Immunotyping and signal transduction, for example, have been playing a significant role in medical diagnostics. However, conventional technologies used, have limited the accuracy and impacted the result deliverance time of the diagnosis performed. Improving therapeutic scenario is equally attracting focus on early diagnostic tools. Currently, many cancer types have various treatment options; however, this depends on the time of diagnosis and the stage of the cancer. Flow cytometry has been one of the most prevalent technologies which offer solutions for most of the problems discussed above. Key factors restraining the market include high instrument costs and size, lack of awareness among probable users and need for trained personnel. Most of the users are not aware of the advanced development in the flow cytometry technology and believe that the instruments are space consuming, complex in use and are of high cost, thus affecting the market growth.
The global market for flow cytometry is divided into segments such as products, technology, end users, and applications. Instruments market accounts for the largest share of revenue in the flow cytometry market at present and is expected to remain as the highest revenue generator in 2020. Increase in modularity, accessibility, incorporation of imaging capabilities, availability of wavelengths and targets and size reduction are a few of the significant trends in the market assisting in the adoption of the instruments by the end users. On the other hand, reagents market is expected to experience the highest growth rate of CAGR 12% during the analysis period. A Primary reason escalating this segment is availability of several types of reagents that find diverse usability depending on specific applications like diagnostics, drug discovery, etc.
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Two technologies are implemented in flow cytometry based research and diagnosis, namely cell based and bead based technologies. In the present scenario as well as throughout the analysis period, cell based technique is leading the market in terms of revenue generation. However, bead based technique is expected to beat this technology in terms of adoption rate by 2020.
North America accounted for the largest share of revenue i.e. 43.5% of the overall Global flow cytometry market at $1.2 billion in 2011. The region is further expected to attain a market size of $2.8 billion by 2020 growing at a CAGR of 10.1%. The company profile in this includes: Advanced analytical Technologies, Inc., Merck Millipore, Becton, Dickinson & co, Beckman Coulter, eBioscience, Partech, Life technologies corp., Luminex Corp, Amnis Corp., Morphosys AG. The primary strategy employed by key players of the market is products launch, which is due to demand for newer, faster, and higher through put machines that deliver better results.
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