Market Research Report
Flow Cytometry Market: Current Analysis and Forecast (2021-2027)
|Flow Cytometry Market: Current Analysis and Forecast (2021-2027)|
Published: July 1, 2021
UnivDatos Market Insights Pvt Ltd
Content info: 129 Pages
Delivery time: 1-2 business days
Flow cytometry is a technique used in the study of cell particles and molecules to provide information about certain characteristics of specific cells. Flow cytometry research is used to analyze the cells of cancer and the immune system to describe the hematological malignancies. Also, this technique is a vital component in the evaluation of primary immune deficiency disorder. This has increased the adoption of cytometric techniques in the research field. For instance, in April 2021, Thermo Fisher Scientific Inc. has donated to the Leukemia & Lymphoma Society in recognition of the recent U.S. Food and Drug Administration approval of the first CAR T cell immunotherapy for multiple myeloma developed by Bristol Myers Squibb and bluebird bio. Abecma is a chimeric antigen receptor (CAR) T cell immunotherapy for the treatment of certain adult patients with relapsed or refractory multiple myeloma, a blood cancer formed by malignant plasma cells and typically originating in the bone marrow.
Moreover, certain factors that will hinder the growth of this market involve the availability of alternate and cheaper instruments, high costs associated with flow cytometry reagents and techniques, budget limitations for research purposes, expensive installation, and maintenance costs. Further, the scarcity of skilled laborers and technicians in labs and diagnostic centers will also hinder the growth of the flow cytometry market in the forecast period.
During the COVID-19 pandemic, the flow cytometry market has experienced healthy growth. The increasing acceptance of research activities and clinical trials due to the Covid-19 have functioned as a driving factor for the uses of flow cytometry techniques. For instance, in late July 2020, based on promising results from early-stage clinical testing of the mRNA-1273 vaccine moved to Phase 3 clinical testing. The trial is intended to evaluate the safety of mRNA-1273 and to determine if the vaccine can prevent symptomatic COVID-19 after two doses. Also, the trial aims to study whether the vaccine can prevent severe COVID-19 or laboratory-confirmed SARS-CoV-2 infection with or without disease symptoms. This trial also seeks to answer if the vaccine can prevent death caused by COVID-19 and whether just one dose can prevent symptomatic COVID-19, among other objectives. Thus, the research and clinical trials related to the Covid-19 vaccination have surged the growth of flow cytometry during the forecast period.
Based on product, the market is bifurcated into instruments, reagents & consumables, replaceable components, accessories, software, and services. The reagents & consumables segment grabbed the major market in 2020 due to their augmented implementations in diagnostic and research fields. Moreover, the overview of multiplex probes and reagents for precise applications in diagnostics as well as drug discovery is anticipated to increase the growth opportunities of this segment in research laboratories and small peripheral laboratories.
Based on technology, the market is bifurcated into cell-based and bead-based technologies. The bead-based segment ruled the major market and accounted for the maximum share in 2020 due to the practical advantages presented by this technology over the cell-based technology (such as ELISA, northern blot, and western blot), comprising its ability to spot multiple analytes, high reproducibility, stability, and speed.
Based on application, the market is bifurcated into research applications, clinical applications, and industrial applications. The research applications segment grabbed the major market in 2020 and accounted for the maximum revenue during the forecast period. The highest share of this segment is attributed due to the increasing R&D activities connected to cancer and infectious diseases, including COVID-19. Further, the increasing R&D investments in the pharmaceutical and biotechnology companies are also anticipated to generate a favorable atmosphere for this market growth.
Based on end-user, the market is bifurcated into academic & research institutes, hospitals & clinical testing laboratories, and pharmaceutical & biotechnology companies. The hospitals & clinical testing laboratories segment ruled the major market and accounted for the maximum share in 2020 due to the increasing number of research for chronic diseases like cancer, HIV AIDS, Immunological disorders including COVID-19. Moreover, an upsurge in organ transplantation practices will also help this market growth over the forecast period.
For a better understanding of the market adoption of the e-Pharmacy market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for flow cytometry and generated maximum revenue in 2020 owing to the high government funding, robust personal healthcare spending, developed awareness programs, rapid acceptance of new analytical techniques, and the presence of skilled workforces.
13 FLOW CYTOMETRY MARKET DYNAMICS