SEATTLE, March 26, 2020 /PRNewswire/ -- According to Coherent Market Insights, the global flow cytometry market was valued at US$ 3,886.1 million in 2018 and is expected to exhibit a CAGR of 10.2% over the forecast period (2019-2027).
Key Trends and Analysis of the Flow Cytometry Market:
Key trends in market include rising patient pool in the HIV, autoimmune disorders, cancers such as leukemia, lymphoma or myeloma, technological advancements of the products in the market, and adoption of inorganic growth strategies such as acquisitions, agreements, mergers & collaborations by the market players, which are expected to boost growth of the flow cytometry market over the forecast period.
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The increasing number of patients with autoimmune disorders is expected to propel the market growth during the forecast period. For instance, according to the American Autoimmune Related Diseases Association (AARDA), the article published in December 2018 states that there are over 100 known autoimmune diseases, which include psoriasis, Graves' disease, Sjogren's syndrome, type 1 diabetes, relapsing polychondritis, myasthenia gravis, multiple sclerosis, rheumatoid arthritis, Crohn's disease, lupus, and others. The article also reports that around 50 million U.S. population are suffering with autoimmune disorders and among them 75.0% are women.
Major players are focusing on acquisitions to strengthen their position in the flow cytometry market. For instance, in 2018, Agilent Technologies, Inc. entered into an agreement to acquire ACEA Biosciences Inc. This strategy was aimed to expand its global revenue base, product portfolio, and strengthen its market share. Moreover, in September 2015, BD Life Sciences entered into a collaborative agreement with Seegene Inc. for the development of multiplex real-time PCR reagents for the BD max system in a probe to gain competitive advantage.
Key Market Takeaways:
- The global flow cytometry market is expected to exhibit a CAGR of 10.2% during the forecast period (2019-2027), which is attributed to rising cases of HIV/AIDS. For instance, according to the Joint United Nations Programme on HIV/AIDS (UNAIDS), in 2015, around 36.7 million people globally were infected with HIV and among them 1.8 million people were under the age of 15.
- Key players in the market are focusing on launching technologically advanced products to make the market well enhanced and featured digitally to enhance their product portfolio, which is expected to propel the market growth over the forecast period. For instance, in September 2017, Miltenyi Biotec GmbH (Germany) launched a fully automated high-throughput flow cytometry MACSQuant X, which handles 384-well plates in less than 60 minutes providing users fast, reliable, and reproducible results. Moreover, launch of the product expanded the flow cytometry product line of company.
Key players operating in the global flow cytometry market include—
Becton Dickinson and Company, General Electric Company, Luminex Corporation, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Miltenyi Biotec GmbH, Merck & Co Inc., Sysmex Corporation, Agilent Technologies, Inc., and Danaher Corporation.
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- Global Flow Cytometry market, By Technology:
- Global Flow Cytometry market, By Product Type:
- Reagents & Consumables
- Global Flow Cytometry market, By Application:
- Global Flow Cytometry market, By End User:
- Clinical Testing Laboratories
- Research laboratories
- Global Flow Cytometry market, By Region:
- North America
- Latin America
- By Country:
- Rest of Latin America
- By Country:
- Rest of Europe
- Asia Pacific
- By Country:
- South Korea
- Rest of Asia Pacific
- Middle East
- By Country:
- Rest of Middle East
- By Country/Region:
- North Africa
- Central Africa
- South Africa
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SOURCE Coherent Market Insights