Flow Cytometry Market Growth to Witness Significant Revenue Growth on Back of Augmenting Demand

Flow cytometry is a laser-based biophysical technology employed in protein engineering, biomarker detection, cell sorting, and cell counting. It is required to a conduct study related to the blood. Flow cytometry analyzes the chemical and physical characteristics of the particles present in the blood. It is used to diagnose health disorders such as HIV and cancer along with several applications in basic research, clinical trials, and clinical practice. Flow cytometry is widely used for evaluating peripheral blood, bone marrow, and other body fluids. Moreover, it provides rapid analysis of multiple characteristics of single cells. The process finds application in microbiology, immunology, hematology, cytology, and among other research fields.

The increasing prevalence of chronic diseases worldwide and the need for rapid, accurate, and sensitive prognosis techniques for disease validation are expected to propel the growth of the flow cytometry market. According to the World Health Organization (WHO), chronic diseases are the leading cause of death worldwide. Moreover, increasing technological advancements (as flow cytometry is quite an unexplored field) and the introduction of advanced methods such as improved cell sorting, higher resolution, rapid detection, and multifunctional analysis, ensuring enhanced efficiency in identifying and characterizing novel drugs are also expected to augment the market growth.

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For instance, in 2017, the United States Food Drug and Administration (FDA) approved the use of a flow cytometer in the detection of lymphoma and leukemia cancer (blood cancer). In 2019, about 76,200 Americans were expected to be diagnosed with myeloma, lymphoma, or leukemia cancer, according to the Leukemia and Lymphoma Society. Moreover, in 2020, around 60,530 people are expected to be diagnosed with leukemia. Furthermore, the growing prevalence of cancer and HIV are expected to foster the flow cytometry market growth.

The rise in the development of new products is expected to create significant opportunities for the key players operating in the market. For instance, in 2019, Agilent Technologies launched the Agilent NovoCyte Advanteon flow cytometer at the International Society for Advancement of Cytometry. In terms of geography, the flow cytometry market is divided into six regions, such as North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Key players are focused on launching technologically advanced products in the market. For instance, in 2019, Becton, Dickinson and Company (BD) launched BD an automated flow cytometer, FACSDuet to improve their efficiency by reducing errors. Furthermore, in April 2018, Merck launched a compact, customizable flow cytometer, CellStream Benchtop.

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Key Players

Major 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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This release was published on openPR.