Flow Cytometry Market in Austria Is Expected To Exhibit 12.3% CAGR By 2020 | Millipore, Bio-Rad Laboratories, Inc.

Clinical application was the leading segment in 2014, closely followed by industrial application segment, on account of the growing adoption of flow cytometry applications in clinical research, drug discovery and development process and wide adoption in diagnosis and monitoring of diseases, such as cancer and HIV.

The Austria Flow Cytometry market was valued at $14.0 million in 2014, and is expected to reach $27.7 million by 2020, supported by a CAGR of 12.3% during the forecast period 2015- 2020.

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COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

Academics and clinical research segments collectively accounted for about two-third of the market in 2014. However, industrial application segment is expected to exhibit an impressive growth over the forecast period.

High diagnosis rates, increasing count of research activities, growing adoption in diagnosis of solid tumors and hematological malignancies, rising incidences of cancer, and high rate of HIV tests per capita in Austria would continue to bolster flow cytometry market in Austria. Several funding agencies and societies are investing in flow cytometry related R&D activities at the academic and institutional level; thereby, driving the Austria flow cytometry market growth.

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Emerging applications across novel fields of research, such as plant science and production, marine biology, genomics, proteome analysis, among others, would further boost the market growth. However, factors such as high cost associated with the instruments and limited technical know-how would impede the market growth.

Product launch is the key developmental strategy adopted by the leading players in the market. In addition, the market players have also adopted strategies, such as acquisitions and collaborations, to bolster their market position.

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The Major Key Players Are:

• Becton
• Dickenson and Co.
• Merck Danaher Corporation
• Millipore
• Bio-Rad Laboratories, Inc.
• Agilent Technologies, Inc.

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