Hematology and Flow Cytometry Market Aims Bigger with Technological Innovations by 2024
Hematology is a branch of medicine, which involves the study and treatment of blood. This is concerned with the diagnosis, study, treatment, and prevention of diseases related to blood. However, for the hematology study, the flow cytometry instrument is required to conduct study related to the blood. Flow cytometry analyzes the whole blood component, i.e., physical and chemical characteristics of the particles present in the blood. Flow cytometry is a laser-based biophysical technology involved in the cell sorting, cell counting, protein detection, and biomarker detection. Flow cytometry analyzes fluid by suspending fluid in the light beam or laser beam. Cell components in the fluid are fluorescently labeled and then they are passed through beam which later on excited by the laser to emit light at diversified wavelengths. The fluorescence lights help to determine various properties of single particles and cells from different wavelengths. Flow cytometer analyzes up to thousands of particles per second as the beam passes through the liquid stream.
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Global hematology and flow cytometry market has been segmented by product, technology, application, and by end-user. On the basis of product, the hematology and flow cytometry market is segmented into flow cytometry instruments, reagent & consumables, and accessories. The flow cytometry instruments segment is further classified into cell analyzers and cell sorters. Based on technology, the hematology and flow cytometry market is categorized into bead-based flow cytometry and cell-based flow cytometry. The cell-based flow cytometry segment is expected to hold a large share of the market owing to its speed and accuracy. On the basis of end-user, the market is segmented into biotechnology and pharmaceutical companies, hospitals, clinics, research centers, clinical testing laboratories, academics, and others. The clinical testing laboratories segment is expected to grow at a rapid rate in the near future owing to the increase in prevalence of the various diseases in which flow cytometry is required for diagnosis. The biotechnology and pharmaceutical companies segment hold a significant share of the hematology and flow cytometry market due to growth in research and development activity.
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Geographically, the hematology and flow cytometry market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has dominated the market and is expected to be at the forefront in the next few years. The considerable share of North America is attributable to increase in the demand for improved efficiency. Moreover, government initiatives in the region has fueled the market growth. North America is followed by Europe. The Europe region is estimated to register a higher growth in the near future. Increasing geriatric population is responsible for the growth rate in Europe. Emerging markets such as Asia Pacific, Latin America, and Middle East & Africa are expected to record lucrative growth during the forecast period. China, Brazil, and India are expected to drive the strong growth of the market due to increase in investments by government bodies to enhance health care facilities.
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In addition, there are number of factors that are expected to affect the growth of the market such as continuous advancements in molecular diagnostics, monoclonal antibodies, lasers and software. Moreover, growth in demand for understanding of immunologic regulating systemic diseases and increase in adoption rate by health care facilities are anticipated to drive growth of the market in the near future. The introduction of smaller and easy-to-operate laser systems is likely to boost the hematology and flow cytometry market in the near future.
Major players operating in this market include Becton, Dickinson and Company, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Merck KGaA, Sysmex Partec GmbH, Luminex Corporation, Miltenyi Biotec GmbH, and Sony Biotechnology.
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