Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global flow Cytometry market was assessed at US$ 3,886.1 million in 2018 and is projected to observe a massive CAGR of 10.2% during the forecast period (2018-2027).
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Amplifying demand for disease diagnosis and technologically advanced flow cytometry are projected to positively affect the growth of the global flow cytometry market over the forecast timeframe. Manufacturers around the globe are focusing on product innovations to tap into the emerging markets of the world. For instance, in August 2017, Beckman Coulter Life Sciences received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its latest clinical flow cytometry product, the Navios EX flow cytometer, to be used in the clinical laboratory in the U.S.
Furthermore, in October 2017, Sysmex America, Inc. introduced the CyFlow Antibodies, a comprehensive portfolio of Analyte Specific Reagent (ASR) antibodies for use in flow cytometry, as a part of its initiative to offer cutting-edge clinical laboratory products. In March 2017, Cytek Biosciences Inc., launched its DxP Athena flow cytometry system, which is a compact, powerful, easy-to-use cell analyzer typically found in highly priced instruments.
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Beckman Coulter received FDA clearance for first IVD test ClearLLab, in July 2017, delivering flow cytometric leukemia & lymphoma analysis, where the FDA confirmed that the test provides consistent results to aid in the diagnoses of leukemia & lymphoma cancers. ClearLLab Reagents generally comprise five pre-formulated antibody cocktails targeted at B-, T-, and Myeloid cell malignancies, which reduce validation time significantly, owing to their in vitro diagnostic status. Furthermore, flow cytometry continues to evolve at a fast pace and provide scientists with the ability to perform many highly-specialized assays simultaneously, which supports the rising application flow cytometry in research laboratories.
Key Market Trends:
- Growing prevalence of chronic diseases worldwide elevates the demand for flow cytometry products.
- Among regions, North America emerged as a global market leader, accounting for a market share of 35.9% in 2016, due to the burgeoning adoption of flow cytometry techniques for cancer research in clinical diagnostics and research laboratories.
- Asia Pacific is expected to exhibit the fastest growth, in terms of revenue, in the global flow cytometry market in the near future, due to the surging prevalence of chronic diseases, such as HIV, cancer, and cardiovascular diseases in the region.
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The well-known players operating in the global flow cytometry market are 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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