Global Flow Cytometry in Oncology Market: Focus on Product Type, Technology, Type of Cancer, Applications, End Users, Country Data (16 Countries), and Competitive Landscape - Analysis and Forecast, 2021-2031

Jun 2021| BIS509A| BIS Research

Report Highlights

Global Flow Cytometry in Oncology Market to Reach $5.25 Billion by 2031.

Market Report Coverage - Flow Cytometry in Oncology

Market Segmentation

  • Product Type – Assays and Kits, Instruments, Reagents and Consumables, and Software
  • Technology – Cell-Based and Bead-Based
  • Type of Cancer – Hematological Malignancies (Lymphoma, Leukemia, Myeloma, and Other Hematological Malignancies) and Solid Tumors (Breast Cancer, Prostate Cancer, Colorectal Cancer, Lung Cancer, and Other Solid Tumors)
  • Application – Translational Research and Clinical Applications (Screening and Diagnostics, and Treatment Monitoring)
  • End User – Diagnostic Laboratories, Hospitals and Healthcare Centers, Academic and Research Institutions, and Other End Users

Regional Segmentation

  • North America – U.S., and Canada
  • Europe – Germany, U.K., France, Italy, Spain, Netherlands, and Rest-of-Europe
  • Asia-Pacific – China, Japan, India, Australia, South Korea, Singapore, and Rest-of-Asia-Pacific
  • Latin America – Brazil, Mexico, and Rest-of-Latin America
  • Rest-of-the-World

Market Growth Drivers

  • Rising Incidence of Hematological Malignancies
  • Increasing Fund Infusions for Hematological Malignancies
  • Growing Consumer Awareness for Tailored Therapy and Precision Medicine

Market Challenges

  • False Negatives and Positives
  • Restricted Specificity Offered by Conventional Flow Cytometry-Based MRD Assessment

Market Opportunities

  • Technological Evolution in the Field of Flow Cytometry
  • Growth in Solid Tumor Applications of Flow Cytometry

Key Surgical Instrument Tracking Devices Companies Profiled

Agilent Technologies, Inc., Apogee Flow Systems Ltd., Becton, Dickinson and Company, bioAffinity Technologies, Inc., Bio-Rad Laboratories, Inc., Bio-Techne Corporation, Cytek Biosciences, Cytognos, S.L., Danaher Corporation, Miltenyi Biotec B.V. & Co. KG, Laboratory Corporation of America Holdings, Luminex Corporation, NeoGenomics Laboratories, Inc., Sony Corporation, and Thermo Fisher Scientific Inc.

Key Questions Answered in this Report:

  • How is flow cytometry revolutionizing the field of oncology?
  • What are the major market drivers, challenges, and opportunities in the global flow cytometry in oncology market?
  • What are the underlying structures resulting in the emerging trends within the global flow cytometry in oncology market?
  • How is the COVID-19 pandemic impacting the global flow cytometry in oncology ecosystem?
  • What are the key development strategies that are being implemented by the major players in order to sustain the competitive market?
  • What are the key regulatory implications in developed and developing regions pertaining to the use of flow cytometry in the field of oncology?
  • What are the potential entry barriers expected to be faced by the companies willing to enter a particular region?
  • How is each segment of the market expected to grow during the forecast period 2021-2031, and what is the anticipated revenue to be generated by each of the segments? Following are the segments:
    • Product Type (assays and kits, instruments, reagents and consumables, and software)
    • Technology (cell-based and bead-based)
    • Type of Cancer (hematological malignancies and solid tumor)
    • Application (translational research and clinical applications)
    • End User (diagnostic laboratories, hospitals and healthcare clinics, academic and research institutions, and other end users)
    • Region (North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World)
  • What are the growth opportunities for the companies in the region of their operation?
  • Who are the leading players with significant offerings in the global flow cytometry in oncology market?
  • Which companies are anticipated to be highly disruptive in the future, and why?

Market Overview

Our healthcare experts have found flow cytometry in oncology industry to be one of the most rapidly evolving and dynamic markets. The global market for flow cytometry in oncology is predicted to grow at a CAGR of 12.02% over the forecast period 2021-2031. The market is driven by certain factors, including rising incidence of hematological malignancies, increasing fund infusions for hematological malignancies, and growing consumer awareness for tailored therapy and precision medicine.

The market is favored by the developments in the field of cancer diagnostic testing and its attributes such as flow cytometry. Currently, the flow cytometry in oncology industry is witnessing an upsurge due to the rising incidence of hematological malignancies, increasing fund infusions for hematological malignancies, and growing consumer awareness for tailored therapy and precision medicine. Additionally, high adoption of flow cytometry instruments by the end users to conduct cancer diagnosis and therapeutic monitoring are some of the critical factors that are expected to bolster the market growth.

Furthermore, biotechnology companies are focusing on the development of robust flow cytometry solutions for a wide range of applications, including translational research and clinical applications, to support researchers and physicians in unraveling insights pertaining to cellular alterations.

Within the research report, the market is segmented on the basis of product type, technology, type of cancer, application, end users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.

Competitive Landscape

The exponential rise in the number of cases associated with cancer, particularly hematological malignancies, has created a buzz among the biotechnology companies to further invest in the development of cancer diagnostic solutions such as flow cytometry, further aiding physicians to offer value-based therapeutic outcomes to patients. Becton, Dickinson and Company has been a pioneer in this field and has been a significant competitor in this market due to the presence of a diverse product portfolio and intense market penetration.

On the basis of region, in 2020, North America held the largest share of the flow cytometry in oncology market due to high infusion of funding from the government organizations for conducting cancer research, growing incidence and prevalence of cancer, growing awareness about precision medicine, and increasing awareness about early cancer detection, among others. Apart from this, the Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period 2021-2031.

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