Flow Cytometer Reagents Market 2022
The global flow cytometer reagents market is expected to reach USD 8.88 billion by 2023, and the market is projected to grow at a CAGR of 12.0 % during the forecast period 2017-2023.
Market Dynamics
The use of flow cytometry in the pharmaceutical and biotechnological industries, the introduction of new reagents for specific applications such as diagnostics and drug discovery, the advancement of user-friendly and apps, and the the prevalence of infectious diseases are leading to the rising demand for flow cytometer reagents.
A close examination of the market shows that product creation is the most appealing technique, which many market players have taken advantage of. The industry has grown as a result of the high profit margins and returns on investment on flow cytometer reagents, with several major companies joining the market. The demand for flow cytometry reagents is rising due to the increasing use of flow cytometry techniques in research, especially drug production. Another key driver has been the growing adoption and automation of flow cytometers in diagnostics, especially in infectious diseases.
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Major Key Players:
Some of key players profiled in the report are Biocompare, Bio-Rad Laboratories, Inc., Miltenyi Biotec, BioLegend, Inc., Becton, Dickinson and Company, Beckman Coulter, Inc., Merck KGaA, ImmunoReagents, Inc., Thermo Fisher Scientific and others.
Segmental Analysis
The global flow cytometer reagents market has been segmented on the basis of types, applications, and end users.
Based on types, the market has been segmented as the calibration and validation reagents, specificity reagents, supporting reagents, secondary reagents, isotype controls, buffers and others.
Based on the applications, the market has been segmented into diagnostics, drug discovery and others.
Based on the end users, the market has been segmented as pharmaceutical and biotechnology industry, academic and research centers, diagnostic centers and others.
Regional Analysis
Because of the widespread use of drugs and high health-care spending, the Americas have a large market share. The global flow cytometer reagents market is also driven by the fastest adoption of new technologies in the United States. The concentration of major research companies and the biotechnology industry in this region's developed countries is also fueling the market. This dominance can be due to the United States' high healthcare spending, well-developed healthcare system, and widespread adoption of technologically advanced flow cytometry solutions. In addition, the established pharmaceutical industry, as well as extensive research activities by research universities and pharmaceutical companies, has generated a huge demand for flow cytometry solutions for research purposes. Furthermore, the increasing prevalence of chronic and infectious diseases, such as the COVID-19 outbreak, has increased demand for flow cytometry solutions for diagnosis and study.
During the forecast era, the Asia Pacific region is expected to develop rapidly, with China and India likely to lead the market due to their rapidly increasing industrial sectors. This rapid expansion can be due to the rapid expansion of emerging economies' pharmaceutical and biotechnology industries, such as China and India. This region's profitable growth is also a result of ongoing government funding for the development of the pharmaceutical industry in developing countries. Moreover, ongoing R&D activities in the fields of cancer and infectious diseases, such as COVID-19, are expected to drive up demand for flow cytometry products in the area. Furthermore, regional players' extensive research activities for the enhancement or advancement of novel flow cytometry solutions are expected to help regional market growth over the forecast period.
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