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Flow Cytometry in Oncology and Immunology Market Analysis 2024-2033
Flow Cytometry in Oncology and Immunology Market Analysis
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According to The Business Research Company's, The flow cytometry in oncology and immunology market size has grown rapidly in recent years. It will grow from $1.89 billion in 2023 to $2.1 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to advancements in cancer research, immunology research growth, diagnostic applications, rise in autoimmune diseases, drug development and clinical trials.
The flow cytometry in oncology and immunology market size is expected to see rapid growth in the next few years. It will grow to $3.07 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to integration with genomics and proteomics, growing adoption of single-cell analysis, expanding applications in infectious diseases, rise in cancer incidence, point-of-care flow cytometry. Major trends in the forecast period include immunophenotyping for immunotherapy, miniaturization of flow cytometry systems, multiparametric analysis, shift towards spectral flow cytometry, collaborative research initiatives.
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Market Drivers and Trends:
The increasing prevalence of cancer is expected to propel the growth of flow cytometry in the oncology and immunology market going forward. Cancer is a disease to describe a group of disorders characterized by the uncontrolled growth and spread of abnormal cells in the body. Flow cytometry is a widely used technique in oncology and immunology for studying cancer and immune cells. For instance, in October 2022, in Macmillan Cancer Support, a UK-based healthcare charity organization, 3 million people had cancer in 2020, and it is estimated that it will rise to 3.5 million by 2025 and 4 million by 2030, and 5.3 million by 2040. Therefore, the increasing prevalence of cancer is driving the growth of flow cytometry in the oncology and immunology markets.
Technological advancements are a key trend gaining popularity in flow cytometry in the oncology and immunology market. Major companies operating in flow cytometry in the oncology and immunology markets are adopting new technologies to sustain their position in the market. For instance, in September 2022, Becton Dickinson, and Company, a US-based medical technology provider, launched BD Research Cloud for flow cytometry in oncology and immunology. BD Cloud is a cloud-based software system that simplifies the flow cytometry process for researchers working in various fields, such as immunology, virology, infectious disease, and oncology surveillance, to enable higher-quality studies with quicker time to insight. BD is leveraging innovative technologies like BD Horizon RealYellow and RealBlue Reagents, as well as the newly introduced BD FACSDiscover S8 Cell Sorter with BD CellView Image Technology, to enhance the capabilities of flow cytometry, enabling researchers to optimize and advance their groundbreaking studies. Built on an industry-standard cloud infrastructure, BD Research Cloud is uniquely suited for BD equipment and reagents.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Becton Dickinson and Company, Laboratory Corporation of America Holdings, Agilent Technologies Inc., Sartorius AG, Beckman Coulter Inc., Bio-Rad Laboratories Inc., Sysmex Partec GmbH, OPKO Health Inc., Miltenyi Biotec, NeoGenomics Laboratories Inc., Luminex Corporation, Q2 Solutions LLC, Enzi Biochem Inc., DiaSorin S.p.A,BioLegend Inc., Cytek Biosciences Inc., Cell Signaling Technology Inc., Standard BioTools Inc., Sony Biotechnology Inc., NanoCellect Biomedical Inc., Nexcelom Bioscience LLC, CytoReason.
Flow Cytometry In Oncology And Immunology Market 2024 Key Insights:
• The flow cytometry in oncology and immunology market size is expected to see rapid growth in the next few years. It will grow to $3.07 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.
• Growing Cancer Prevalence Is Anticipated To Fuel The Flow Cytometry In The Oncology And Immunology Market Growth
• Technological Innovations Propel Flow Cytometry In Oncology And Immunology
• North America was the largest region in the flow cytometry in oncology and immunology market in 2023
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