(MENAFN- P&S Intelligence) In 2021, the flow cytometry market was worth around USD 4,874.1 million, and it is projected to advance at an 8.4% CAGR from 2021 to 2030, hitting USD 10,065.4 million by 2030, according to P&S Intelligence.
This growth can be credited to drug development, augmented research activities with innovative technologies of flow cytometry, and a surge in the acceptance of analytical instruments in medical diagnostics. Furthermore, flow cytometry is widely utilized in cancer research and in-vitro molecular research.
The need for bead-based flow cytometry is projected to surge with an advanced development rate, of approximately 9%, in the coming few years. In the past few years, bead-based flow cytometric studies have gained traction, and are utilized in numerous laboratory analytical events. An assay using beads as a solid matrix has become the market standard for molecular interaction lab studies.
Furthermore, the bead-based flow cytometry executes multi-analyte flow immunoassays, having the capability to concurrently and quantitatively measure several antibodies or antigens in a small size of biological fluids in a short span, an edge over cell-based flow cytometry.
In 2021, the flow cytometry market is led by the reagents used in flow cytometry, with more than USD 2 billion in revenue, and it is also projected to dominate throughout the forecast period.
This is mainly because of the requirement for new diagnostics, research, and drug growth, which need specific reagents for the analysis. Furthermore, industry players are regularly introducing improved reagents and therefore boosting the industry in this category.
Clinics and hospitals are the major end users of flow cytometry analytical tools. The majority of hospitals and clinics are occupied with patients, because of the growing occurrence of illnesses, where flow cytometry is commonly utilized for the characterization of illnesses.
Numerous hospital groups in emerging nations, Japan, and the U.S. are setting up amenities for people and taking numerous initiatives to support patients who need quality healthcare.
Therefore, hospitals and businesses are joining forces for the wholesale purchases of reagents and flow cytometers. Furthermore, the growing count of multispecialty hospitals boosts the need for flow cytometers, throughout the globe.
With the increasing healthcare expenditure and improving healthcare amenities, the biomedical research and development industry is projected to rise significantly.
For example, in 2020, Johnson & Johnson expended USD 12.2 billion and USD 14.7 billion in 2021 on research developments. However, the pharmaceutical market in 2019 paid USD 83 billion on research and development and the count of afresh permitted drugs for sale augmented by approximately 60% between 2010 and 2019.
Hence, drug development augmented research activities with innovative technologies of flow cytometry, and surge in the acceptance of analytical instruments in medical diagnostics, and the factors behind the growth of the flow cytometry industry.
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.