Flow Cytometry Market by Technology, Application and End Users worth $3.7 Billion in 2018 - New Report by MarketsandMarkets
(PRWEB) June 02, 2014
The report "Flow Cytometry Market by Technology (Cell & Bead-based), Products & Services (Reagents, Instruments, Software, & Accessories), Application (Research & Clinical), End User (Commercial Organizations & Diagnostics Laboratories) - Global Forecasts to 2018" analyses and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and Rest of the world (RoW).
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This report studies the global flow cytometry market over the forecast period of 2013-2018. The market is estimated at $2.3 billion in 2013 and is poised to grow at a CAGR of 10% from 2013-2018, to reach $3.7 billion by 2018.
On the basis of the type of technology, the flow cytometry market is segmented into cell-based, bead-based, and others. On the basis of products, the global market has been segmented into instruments, reagents and consumables, software, services, and accessories. In addition, based on the type of applications, the global market has been segmented into research, clinical, and industrial applications. Furthermore, based on the end-users, the global market has been segmented into commercial organizations, hospitals, academic institutes, medical schools, and clinical testing labs.
The market in these emerging regions is primarily driven by various economic developments. Moreover, the presence of a large patient population, growing number of research initiatives, increasing government support, and growing focus of both international and domestic players on the Asia-Pacific flow cytometry market are the key factors fuelling the growth of the flow cytometry market in these regions.
Moreover, these regions provide favourable conditions for the growth of market players and have a high demand of flow cytometry products. As a result of this, a number of players in the flow cytometry market are investing in emerging economies. For instance, in October 2013, Beckman Coulter, Inc. (U.S.) has received FDA Section 510(k) approval and import medical device registration certificate from China Food and Drug Administration for the use of company's Navios flow cyto-meter in China.This move enabled the company to enter and address the huge demand of flow cytometry products in Asia.
As of 2013, North America (comprising the U.S. and Canada) held the largest share in the global flow cytometry market. This is attributed to the large number of ongoing researches, high adoption rate of new technologies, and infrastructural development in the U.S. However,the Asia-Pacific flow cytometry market is expected to grow at the highest CAGR of 16.1% from 2013 to 2018. A number of factors such as the large patient population base, growing number of research initiatives, fostering awareness, increasing focus of global players, and increasing government support are propelling the demand for the flow cytometry techniques in the Asia-Pacific region.
The flow cytometry market is a consolidated market with two major players namely, Becton, Dickinson and Company (U.S.) and Beckman Coulter, Inc. (U.S.) occupying more than 50% of the market. The other key players in the global flow cytometry market include Life Technologies Corporation (U.S.), EMD Millipore Corporation (U.S.), Miltenyi Biotech (Germany), Partec GmbH (Germany), Luminex Corporation (U.S.), and eBioscience, Inc. (U.S.).
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