Flow Cytometry is a laboratory method that helps measure the percentage of live cells and the number of cells & their characteristics of cells like shape & size, using a sample of bone marrow, blood, or any other tissue. Cells are stained with a light-sensitive dye, suspended in a fluid, and then passed through a beam of light, to which the stained cells react and generate the results. This process is used in research and helps diagnose certain diseases, including cancer.
The Global Flow Cytometry in Oncology Market is anticipated to grow at a CAGR of around 11.2% during the forecast period, i.e., 2021-26. Flow cytometry has evolved for a long time from a niche laboratory technique to a routine method used by immunologists & pathologists for diagnosing & monitoring patients with cancer.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Spain, Others|
|Asia-Pacific: China, India, Japan, South Korea|
|South America: Brazil, and Others|
|Middle East & Africa: UAE, Saudi Arabia, South Africa|
|Key Companies Profiled||Agilent Technologies, Inc., Apogee Flow Systems Ltd., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Bio-Techne Corporation, Cytognos, S.L., Danaher Corporation, Luminex Corporation, Sony Corporation, Cytek Biosciences|
|Unit Denominations||USD Million/Billion|
The growth of the global flow cytometry in oncology market is likely to be driven primarily by the mounting prevalence of hematological malignancies and rising consumer awareness about precision medicine & tailored therapies. Nearly every 3 minutes, one person in the US gets diagnosed with lymphoma, leukemia, or myeloma. It is estimated that 186,400 people will be diagnosed with lymphoma, leukemia, or myeloma across the US in 2021.
Nevertheless, rapid developments in the field of cancer diagnostics and the burgeoning adoption of flow cytometers by end-users for therapeutic monitoring & conducting cancer diagnosis are other crucial factors projected to drive the global market during 2021-26.
Impact of Covid-19 on the Global Flow Cytometry in Oncology Market
The advent of Covid-19 in 2020 minimally impacted the Global Flow Cytometry in Oncology Market since the industry is entirely research-based. However, manufacturers in the global market witnessed revenue losses in the first two quarters of the fiscal year, 2020-21. Further, temporary halts on research activities associated with flow cytometry and the low influx of cancer patients in hospitals also led to a decline in the market growth.
However, healthcare systems are rapidly reorganizing cancer services to enhance their facilities and ensure that patients receive essential care continuously while minimizing exposure to Covid-19 infection. Hence, the coming years are set to generate remunerative opportunities for the Global Flow Cytometry in Oncology Market.