10.JPG)
The Global Flow Cytometry in Oncology and Immunology Market Size is valued at USD 2.02 billion in 2023 and is predicted to reach USD 4.63 billion by the year 2031 at an 11.12% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- New technology flow cytometry devices and consumables are hitting the market at a rapid pace, and the growing incidence of cancer and HIV/AIDS are also contributing to this expansion.
- The market demand for flow cytometry is driven by its expanding applications in research.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- The high cost of instruments is projected to hinder the market's expansion.
The global increase in HIV diagnoses is a significant market factor for flow cytometry, and this is because the flow cytometry technique is specifically used for HIV diagnosis. In flow cytometry, light scattering is utilized to identify cells. These cells receive particular markers known as CDs depending on the type of scattering (clusters of differentiation). The main market players are concentrating on creating new products, which is anticipated to propel market growth over the forecast year.
The key elements affecting flow cytometry in the oncology and immunology market include high resolution, enhanced efficacy, and the creation of powerful statistical platforms. In addition, factors like the rising acceptance of new technology and the rising use of flow cytometry in medical research are anticipated to boost market expansion throughout the estimated period. Furthermore, the market is expected to grow in the coming years due to the increasing prevalence of cancer and HIV/AIDS patients worldwide. On the other hand, the demand for flow cytometry in oncology and immunology is predicted to be hindered by a lack of technicians, awareness of the applications of flow cytometry, and the high costs of flow cytometry equipment and reagent.
Competitive Landscape
Some major key players in the flow cytometry in oncology and immunology market
- Agilent technologies, inc,
- Becton, Dickinson and Company,
- Bio-Rad Laboratories, Inc.,
- Cell Signaling Technology, Inc.,
- Cytek Biosciences, Inc.,,
- Danaher Corporation,
- DiaSorin S.p.A (Luminex Corporation),
- Enzi Biochem Inc.,
- Laboratory Corporation of America Holdings,
- Merck KGaA,
- Miltenyi Biotec,
- NeoGenomics Laboratories, Inc.,
- OPKO Health, Inc.,
- Sony Group Corporation
- Thermo Fisher Scientific Inc.
Market Segmentation:
The flow cytometry in the oncology and immunology market is segmented on the offering technology, type, applications and end users. Based on offerings, the market is segmented into products (Instruments, Reagents and Consumables, and Software) and services. Based on technology, flow cytometry in the oncology and immunology market is segmented into cell-based flow cytometry and bead-based flow cytometry. Based on the type, the flow cytometry in the oncology and immunology market is segmented into immunology and oncology. Based on applications, flow cytometry in the oncology and immunology market is segmented into translational and clinical research. Based on end-users, flow cytometry in the oncology and immunology market is segmented into hospitals, diagnostic laboratories, reference laboratories, pharmaceutical and biotechnology companies, academic research institutes, contract research organizations and others.
Based on technology, the cell-based theory segment is a major contributor to the flow cytometry in the oncology and immunology market.
The market's leading segment is cell-based theory. Rising interest in early diagnosis and a growing understanding of the benefits of cell-based diagnostics account for the largest share of this growth. The development of new tools, labels, affinity reagents, software, and algorithms, as well as advancements in cell-based assay technologies, are also anticipated to increase usage in the future years. Bead tests are used in studies on infectious diseases. The market for these assays is anticipated to grow profitably throughout the projection period due to advancements in molecular engineering and monoclonal antibody manufacturing and their advantages, such as cost-effectiveness, low sample requirement, and quick turnaround times.
The pharmaceutical and biotechnology companies segment witnessed growth at a rapid rate.
Pharmaceutical and biotechnology companies grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the expected time. This high percentage can be attributed to increased R&D activities for cancer and infectious diseases like COVID-19. Additionally, it is projected that increased R&D investments in the biotechnology and pharmaceutical industries will promote market expansion. The clinical diagnostic market is anticipated to grow at the fastest rate due to the growing demand for cheap illness diagnosis and the advantages of flow cytometry in disease detection, such as quicker and more accurate results.
The North American flow cytometry in the oncology and immunology market holds a significant regional revenue share.
The North American flow cytometry in the oncology and immunology market is expected to register the highest market share in revenue shortly, Government funding and support for R&D initiatives, increased awareness of healthcare diagnostics, and an increase in the number of cancer patients in the region are all factors contributing to the market growth in this area. Additionally, this region's market is expanding due to rising pharmaceutical industry R&D activities. In addition, Asia Pacific is projected to grow rapidly in the global flow cytometry in the oncology and immunology market due to the rising prevalence of autoimmune diseases, growing healthcare awareness, rising healthcare investments and collaborations, and regional market players expanding.
Recent Developments:
- In January 2024, Agilent Technologies Inc. revealed its ProteoAnalyzer system, an automated parallel capillary electrophoresis technology for protein analysis, at the 23rd Annual PepTalk Conference in San Diego.
- In January 2024, Thermo Fisher Scientific's newest and biggest array, the AxiomTM PangenomiX Array, offers unparalleled genetic coverage for pharmacogenomic and large-scale illness studies.
- In January 2024, Becton, Dickinson, and Company (BD), a prominent worldwide medical technology company, and Hamilton, a prominent worldwide manufacturer of laboratory automation technology, announced a partnership to create robotics-compatible reagent kits and automated applications that will allow for larger-scale single-cell multi-omics experiments to be conducted with more standardization and less human error.
Flow Cytometry in Oncology and Immunology Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 2.02 billion |
|
Revenue Forecast In 2031 |
USD 4.63 billion |
|
Growth rate CAGR |
CAGR of 11.12% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Offering, Technology, Type, Application, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
agilent technologies, inc, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Cell Signaling Technology, Inc., Cytek Biosciences, Inc.,, Danaher Corporation, DiaSorin S.p.A (Luminex Corporation),Enzi Biochem Inc., Laboratory Corporation of America Holdings, Merck KGaA, Miltenyi Biotec, NeoGenomics Laboratories, Inc., OPKO Health, Inc., Sony Group Corporation and Thermo Fisher Scientific Inc. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
