The flow cytometry market in the Asia Pacific was estimated at USD 1168.63 Million in 2023. It is projected to reach USD 2013.96 Million by 2028, at a CAGR of 11.5% during the forecast period.
The growing patient population suffering from chronic diseases such as cancer, diabetes, CVDs and others among the countries of the APAC region is one of the key factors propelling the flow cytometry market growth in APAC. In addition, the rising number of R&D activities in immunology and immuno-oncology fields is further expected to fuel the growth rate of the regional market. Furthermore, to address the growing disease burden of various diseases, the number of clinical trials to develop innovative drugs and funding for clinical trials are growing rapidly, which is anticipated to boost the growth rate of the flow cytometry market in the Asia-Pacific region.
The growing stem cell research pipeline and increasing usage of recombinant DNA technology for antibody production, rising adoption of technologically advanced flow cytometry products, and the launch of these products in various research and diagnostic applications are expected to have a favorable impact on the growth rate of the flow cytometry market in the Asia-Pacific region. In addition, the introduction of flow cytometry technology in innovative research applications like cytogenetics, proteomics, and marine cell biology is further expected to promote regional market growth.
Furthermore, investments by governmental organizations in favor of flow cytometry in the Asia-Pacific region, increasing incorporation of AI platforms in flow cytometry workflows, and advancements in flow cytometry software are expected to boost the market growth. In addition, an increasing number of partnerships, mergers, and acquisitions are anticipated to support the growth rate of the APAC market.
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:
The cell-based segment had the most significant share of the APAC flow cytometry market in 2022 and is expected to continue its domination in the coming years.
The reagents and consumables segment occupied the largest share of the APAC market in 2022.
The clinical segment is anticipated to lead the market during the forecast period.
Regionally, the flow cytometry market in the Asia-Pacific region is projected to grow at the highest CAGR among all the regions in the worldwide market during the forecast period. The flow cytometry market in the Asia-Pacific region is primarily driven by the growing 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 is expanding the APAC regional market.
The Chinese flow cytometry market is predicted to dominate the APAC market during the forecast period owing to the increasing number of pharmaceutical and biotechnology companies. Furthermore, the flow cytometry market in China is further expected to grow due to the growing investments to conduct R&D and rising healthcare expenditure.
On the other hand, the Indian flow cytometry market is anticipated to witness a promising share of the APAC market in the coming years. It is anticipated to showcase a notable CAGR during the forecast period owing to favorable government policies, consistent improvements in the healthcare infrastructure among the APAC countries, and increasing incidence of HIV, AIDS, and cancer.
The Japanese market is expected to grow at a steady CAGR during the forecast period.
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.
The flow cytometry market in APAC was worth USD 1168 million in 2023.
China, Japan, India, South Korea, and Australia are expected to hold major share of the APAC market in the coming years.
Becton, Dickinson and Company (BD), Beckman Coulter, Inc., Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., and Merck KGaA are some of the notable companies in the APAC flow cytometry market.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: email@example.com