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Emerging Nations Unfold NewOpportunities in the Flow Cytometry Market
Over the last two decades, the flow cytometryindustry has witnessed significant innovations. These innovations areleading to the wider acceptance of flow cytometry techniques, in both research and clinical applications throughout the world.North America and a major part of the European region are saturated markets for flow cytometry products. However, the developing regions such as Asia-Pacific (China and India), Latin America, and the Middle East are expected to form the new revenue pockets for this market.
The flow cytometrymarket in these emerging regions is primarily driven by various economic developments. Moreover, the presence of a large patient population, growing number of research initiatives, increasing government support, andgrowing focus of both international and domestic players on the Asia-Pacific flow cytometrymarketare the key factors fueling the growth of the flow cytometrymarket in these regions.
Moreover, these regions provide favorable conditions for the growth of market players and have a high demand of flow cytometry products. As a result of this, a number of players in the flow cytometry market are investing in emerging economies. For instance, in October 2013, Beckman Coulter, Inc. (U.S.) has received FDA Section 510(k) approval and import medical device registration certificate from China Food and Drug Administration for the use of company’s Naviosflow cytometer in China.This move enabled the company to enter and address the huge demand of flow cytometryproducts in Asia.
In the Asia-Pacific region, the flow cytometrymarket in India is estimated to grow at the highest CAGR in the next five years. A number of factors such as the increasing awareness, growing R&D activities, and government initiatives to promote the adoption of flow cytometryin the country are the major drivers contributing to the growth of this market. Market players such as BD Biosciences (U.S.) and Beckman Coulter Inc. (U.S.)are expanding their facilities in India, in order to meet the projected demand. For instance, in August 2013, Beckman Coulter Life Sciences acquired the flow cytometry business assets of ReaMetrixIndia Pvt. Ltd. to enhance its portfolio, targeting the HIV monitoring and clinical research markets. Likewise, in March 2012, Becton Dickinson Biosciences India in collaboration with JamiaHamdardUniversityestablished a flow cytometry academy in New Delhi called BD Fluorescence Activated Cell Sorting (FACS) Academy.This academy is engaged in conducting and organizing basic as well as advance level training courses, workshops, and seminars, with regard to the use of flow cytometry in research as well as in clinical applications.
Moreover, the flow cytometrymarket in China is also expected to witness a robust growth in the forecast period (2013-2018). The evolving flow cytometrymarket in China offers remarkable growth opportunities due to factors such as the high prevalence of diseases such as HIV/AIDS and cancer;leading to an increase in the on-going research in the field of these diseases by using flow cytometry techniques, fostering government funding for clinical research,and growing focus of international and domestic players on the flow cytometrymarket in China. The combined efforts of the government agencies and the public sector organizations to increase awareness about the usage of flowcytometry in research and clinical fields, has enabled the Asia-Pacific and the RoW (Latin America, Middle East, and Africa) regions to become attractive markets for flow cytometry productmanufacturers.
Flow Cytometry Market by Technology (Cell & Bead-based), Products & Services (Reagents, Instruments, Software, & Accessories), Application (Research & Clinical), End User (Commercial Organizations & Diagnostics Laboratories) - Global Forecasts to 2018
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