The study projects the market to grow at a CAGR of 11.39% between 2022-2032
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Flow Cytometry in Oncology and Immunology Market - A Global and Regional Analysis.
According to this study, the market size of the global flow cytometry in the oncology and immunology market was valued at $1.65 billion in 2021 and is projected to reach $5.28 billion by 2032.
The following factors are responsible for the increase in demand for flow cytometry in oncology and immunology:
- Increasing burden of cancer is one of the major propelling factors for the innovation of novel technologies in flow cytometry
- Expansion of applications in flow cytometry for research activities propels its demand in the market
- Innovation in flow cytometry leading to the use of next-generation flow cytometers
- Increasing use of flow cytometry in the identification and diagnosis of immune-deficiency diseases
The detailed study is a compilation of 11 market data tables and 238 figures spread through 286 pages.
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Analyst's Take on the Market Projection
According to Swati Sood, Principal Analyst, BIS Research, "With the increasing burden of cancer, the demand for flow cytometry has increased worldwide. Flow cytometry provides quick and effective data collection from a heterogenous mixture of fluids. This is primarily due to the extensive adoption of flow cytometry-based products for improving the diagnosis and screening of cancer, particularly hematological malignancies. Additionally, manufacturers are significantly investing in research and development (R&D) to expand their respective product portfolios by developing multiparametric and next-generation flow cytometry solutions for cancer diagnostic testing."
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Existing Competitive Landscape
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are
- 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
Recent Developments in the Global Flow Cytometry in Oncology and Immunology Market
- In February 2022, Becton, Dickinson, and Company acquired Cytognos, S.L. Through this acquisition, the company expanded its flow cytometry portfolio and gained the expertise of ~80 scientists and professionals at Cytognos S.L.
- In September 2022, Becton, Dickinson, and Company launched BD Research Cloud, a cloud-based software solution designed to streamline the flow cytometry workflow to enable higher quality experiments with faster time to insight for scientists working across a range of disciplines, including immunology, virology, oncology, and infectious disease monitoring.
- In September 2021, Beckman Coulter, a wholly owned subsidiary of Danaher Corporation, launched its new CytoFLEX flow cytometry platform, which is expected to open new avenues for cancer researchers with respect to single-cell analysis. This new system launched by the company offers powerful analytical performance in a benchtop instrument, which offers high sensitivity.
- In February 2021, Thermo Fisher Scientific Inc. acquired the cell sorting technology assets of Propel Labs, which is expected to broaden Thermo Fisher's flow cytometry and cell analysis portfolio.
- In December 2020, Thermo Fisher Scientific Inc. acquired Phitonex, Inc., a pioneer in the field of spectral dye platforms for high-resolution biological applications, including oncology and immunology. With the acquisition of the company, Thermo Fisher Scientific Inc. is expected to offer greater flow cytometry capabilities to meet evolving customer demands for cell and protein analysis research.
Hospitals, Diagnostic Laboratories, and Reference Laboratories to Collectively Become the Leading End-User Segment
The global flow cytometry in the oncology and immunology market is broadly classified into hospitals, diagnostic laboratories, reference laboratories, pharmaceutical and biotechnological companies, academic research institutes, contract research organizations, and others in terms of the end user.
The hospitals, diagnostic laboratories, and reference laboratories accounted for a major share of the overall market in 2021, and the segment is anticipated to witness robust growth with a CAGR of 11.07% during the forecast period 2022-2032.
The growth of the segment is majorly propelled by the increase in the influx of patients suffering from advanced hematological malignancies due to the growing prevalence of leukemia, lymphoma, and myeloma worldwide.
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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