The size of the Flow Cytometry market in the Asia Pacific has been estimated at USD 1048.10 Million in 2021. It is projected to reach USD 1806.25 Million by 2026, at a CAGR of 11.5% during the forecast period.
The rising prevalence of chronic diseases is majorly driving the flow cytometry market in the Asia Pacific. Also, the flow cytometry market is in the APAC region is projected to increase in response to increasing activities of immunology and immuno-oncology research fields. On the other hand, the clinical trials are increasing to develop new medicines to meet the growing disease burden. It is further bolstered by the fact that funding for various clinical trial initiatives is easily accessible.
Additionally, the growing stem cell research pipeline and the use of recombinant DNA technology for antibody production offer substantial revenue growth potential for market participants. Furthermore, the adoption of technologically advanced flow cytometry products and the launch of these products in various research and diagnostic applications are expected to drive market growth. Furthermore, during the forecast period, the introduction of flow cytometry technology in innovative research applications like cytogenetics, proteomics, and marine cell biology is a factor that is further expected to accelerate the growth of the APAC flow cytometry market.
Furthermore, after analyzing and examining the connected components of the market that have proven to help produce a large amount of income in a short period, the major players in this market are registering the fastest market growth in the near future. Moreover, rising investments by the government, increasing incorporation of AI platforms in flow cytometry workflows, and advancements in flow cytometry software are expected to boost the market growth. In addition, partnerships, mergers, and acquisitions are strategies the various companies in the region implement to gain a competitive edge over their competitors.
However, the high cost associated with the instruments and reagents is the major growth restraint factor. Also, a lack of awareness among the potential users and the dearth of skilled professionals impede the APAC flow cytometry market growth.
This research report on the APAC Flow Cytometry market has been segmented and sub-segmented into the following categories:
Regionally, the flow cytometry market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to increasing development and production of new biologics, vaccines, and drugs, expanding medical treatment for infectious and chronic diseases, increasing median age of the population and increasing focus on attracting international and domestic players in the market. Furthermore, ongoing R&D initiatives in cancer and infectious diseases, such as COVID-19, are anticipated to push up demand for flow cytometry products in the region. In addition, the significant rise in the pharmaceutical and biotechnology industries in developing countries such as China, India, and Japan are expanding the APAC regional market.
The Chinese flow cytometry market is predicted to dominate the APAC market during the forecast period. Due to the country's pervasiveness of numerous pharmaceuticals and biotechnology companies and the fastest germination rate during the forecast period due to increased research and development investments and rising healthcare expenditures, China dominates the flow cytometry industry.
On the other hand, the Indian flow cytometry market is anticipated to witness a promising share in the flow cytometry market in the coming years and contribute to the APAC regional market growth. Supportive government policies, improving healthcare infrastructure, and increasing HIV, AIDS, and cancer are propelling the market growth.
KEY MARKET PLAYERS:
Becton, Dickinson and Company, Beckman Coulter, Inc., Thermo Fisher Scientific, Inc., Merck KGaA, Sysmex Partec GmbH, Luminex Corporation, Miltenyi Biotec GmbH, Bio-Rad Laboratories, Inc., Sony Biotechnology, Life Technologies Corporation Inc., EMD Millipore Corporation, Miltenyi Biotec, Thermo Fischer Scientific, Agilent Technologies, Inc., Affymetix Inc. are some of the notable companies in the APAC flow cytometry market profiled in this report.