Market research firm Markets and Markets (Dallas, TX), in a new report, expects that the global flow cytometry market will reach $3.7 billion by 2018—at a compound annual growth rate (CAGR) of 10 percent from 2013 to 2018.
Related: Future cytometry: Going with—or without—the flow
Increasing applications of technological advancements in flow cytometry instruments, fostering research activities in the field of life sciences, growing clinical trials, fostering prevalence of HIV and cancer, launching new reagents for specific applications such as diagnostics, drug discovery, and development of user-friendly and intuitive software, are driving its growth. Additionally, emerging markets such as China and India, development of high-throughput flow cytometry, and fostering stem cell research unfolds new opportunities for the market players.
In the report, the global market is further segmented on the basis of type of end users, which includes commercial organizations, hospitals, academic institutions, medical schools, and clinical testing labs. In 2013, the commercial organization segment accounted for the largest share of 35 percent in the market. Likewise, based on the type of applications, the global market is classified into three categories; namely, research, clinical, and industrial applications. Application of flow cytometry in research commanded the major chunk of the market in 2013.
On the basis of products, the global flow cytometry market has been segmented into instruments, reagents and consumables, software, services, and accessories. In 2013, the reagents and consumables segment accounted for the largest share of 45 percent in the global market, and is also expected to grow at the highest CAGR of 11.2 percent from 2013 to 2018. In addition, the global market is classified into three segments based on the type of technology—cell-based, bead-based, and others. The cell-based segment accounted for the largest share of 80 percent in the global market.
The global flow cytometry market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). North America will continue to dominate the market in the forecast period (2013-2018). However, the Asia-Pacific region is expected to grow at the highest CAGR of 16 percent from 2013 to 2018. Over the next five years, the growth of the market in the Asia-Pacific region is likely to be centered at Japan, China, and India.
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