Technavio's latest report on the global flow cytometer marketprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global flow cytometer market from 2017-2021. (Graphic: Business Wire)
Technavio's market research analysts predict that this market will grow at a CAGR of more than 10% during the forecast period. The rapid growth of the reagents and consumables segment was the primary growth driver for the global flow cytometer market between 2010 and 2016. The significantly higher volume sales of this product category combined with the short replenishment cycle led to the relatively higher share of this segment.
Jujhar Singh, a lead analyst from Technavio, specializing in research on embedded systems sector, says, "This growth of the global flow cytometer market can be attributed to the growing demand from the primary end-use industries, most of which are growing at a rapid pace. Features such as ease of cleaning up, high throughput, high content analysis, and cell imaging and analysis are leading to the high adoption of flow cytometers."
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The top three emerging trends driving the global flow cytometer marketaccording to Technavio research analysts are:
- Increasing level of process automation
- Outsourcing of drug discovery process
- Increase in M&A
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Increasing level of process automation
Automation is evident in nearly all laboratory processes, including flow cytometry. From using manual sample preparation and loading techniques earlier to now using instruments that are designed to prepare, load, and store samples for the process, the technology, and level of automation have improved greatly over the past couple of decades.
"As flow cytometry have digital interfaces and allow the storage of processed information, they reduce the human intervention required substantially. The integration of these instruments with other devices and processes can increase flexibility, allow continuous process flow for the samples, and reduce processing time and human supervision," according to Jujhar
Outsourcing of drug discovery process
Many small vendors in the market are outsourcing their drug research and development processes to sub-contract laboratories. These companies can thus focus better on their manufacturing and marketing activities. The number of subcontract laboratories has been rising rapidly since 2011, and this trend will continue over the forecast period.
Because of cost constraints, a number of companies are unable to invest in research facility infrastructure. The introduction of subcontract laboratories has enabled these companies to carry out research and testing to drive innovation. The presence of these laboratories allows the companies to outsource their drug discovery processes for a mere fraction of the actual infrastructure cost.
Increase in M&A
With flow cytometers gaining popularity and importance in clinical and pharmaceutical research applications, a number of smaller firms are entering the market with innovative solutions. To lessen the impact of this trend on their profit margins, the larger, well-established flow cytometer OEMs are either partnering with or acquiring these smaller firms that specialize in flow cytometer analysis.
In 2011, EMD Millipore acquired Amnis, a company that specialized in flow cytometer and cell imaging. Amnis was a relatively small company with a revenue of USD 14 million at the time of acquisition. This acquisition allowed EMD Millipore to accelerate its flow cytometer business greatly.
The key vendors are as follows:
- BD
- Beckman Coulter
- Luminex
- EMD Millipore
- Thermo Fisher Scientific
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