The Flow Cytometry market is estimated to be valued at US$ 6,280.32 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Flow cytometry refers to a laser-based biotechnology technique used for detecting and measuring physical and chemical characteristics of particles or cells such as size, count, and fluorescence as they flow in a fluid stream through a beam of laser light. It helps in medical diagnosis of cancer and other diseases, detection of circulating tumor cells, identification of biomarkers, phenotyping of lymphocytes and other applications. Market Dynamics: The growth of the flow cytometry market is majorly driven by rising prevalence of chronic diseases such as cancer globally. According to the World Health Organization (WHO), cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. Flow cytometry plays a crucial role in cancer research by helping identify cancer subtypes and circulating tumor cells as well as determining the appropriate treatment. It also aids in monitoring treatment response and detecting residual and recurrent disease during and after treatment. Another key driver is the increasing adoption of flow cytometry techniques in stem cell research. Flow cytometry allows identification and isolation of stem cell populations as well as characterization of cell surface markers. It helps gain insights into stem cell differentiation, proliferation and signaling pathways. Further, continual technological advancements such as development of high throughput and multi-parametric flow cytometers with automated cell sorting capabilities are also fueling market growth. SWOT Analysis Strength: Flow cytometry allows multiparametric analysis of single cells suspended in fluid based on their optical and fluorescence characteristics. It has three major strengths i.e high speed analysis of heterogeneous cell population, precise multiparametric analysis capability, and real time cell sorting. Weakness: One weakness is high investment and maintenance cost of flow cytometry equipment. Another weakness is requirement of trained professionals for operation and data analysis. Opportunity: There is opportunity in clinical diagnostic applications for cancer immunology, HIV, and antibiotic resistant bacteria detection. Another opportunity lies in stem cell research and therapy applications. Threats: Stringent government regulations for approval of new flow cytometry applications can reduce revenue growth. Second threat comes from emerging alternative techniques like microfluidics based cell analysis which are less costly. Key Takeaways The Global Flow Cytometry Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing R&D investments in pharmaceutical and biotechnology industries. Flow cytometry finds wide usage in drug discovery, translational research, and clinical applications in these industries. Regional analysis: North America is currently the largest flow cytometry market owing to presence of major players, growing biomedical research expenditures, and widespread diagnostic applications. Asia Pacific is fastest growing region due to increasing healthcare infrastructure, expanding biopharmaceutical industry, and growing competition among regional flow cytometry producers. Key players operating in the flow cytometry market are General Electric, BD, Luminex Corporation, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Miltenyi Biotec GmbH., Sysmex Corporation, Agilent Technologies, Inc., Danaher, Enzo Life Sciences, Inc., Cytek Biosciences, Sartorius AG, BioLegend, Inc., Beckman Coulter, Inc., Laboratory Corporation of America Holdings., and MilliporeSigma. These players are focusing on new product launches for niche flow cytometry applications and strategic partnerships to strengthen their presence in global market. Get more insights on this topic: https://www.rapidwebwire.com/flow-cytometry-market-forecast-analysis/
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