A new report published by Allied Market Research, titled, “Austria Flow Cytometry Market – Opportunities and Forecast, 2014-2020,” predicts the Austria flow cytometry market to reach $27.7 million by 2020, registering a CAGR of 12.3% during 2015–2020. Academics and clinical research segments collectively accounted for about two-third of the market in 2014. However, industrial application segment is expected to exhibit an impressive growth over the forecast period.
High diagnosis rates, increasing count of research activities, growing adoption in diagnosis of solid tumors and hematological malignancies, rising incidences of cancer, and high rate of HIV tests per capita in Austria would continue to bolster flow cytometry market in Austria. Several funding agencies and societies are investing in flow cytometry related R&D activities at the academic and institutional level; thereby, driving the Austria flow cytometry market growth. Emerging applications across novel fields of research, such as plant science and production, marine biology, genomics, proteome analysis, among others, would further boost the market growth. However, factors such as high cost associated with the instruments and limited technical know-how would impede the market growth.
Clinical application was the leading segment in 2014, closely followed by industrial application segment, on account of the growing adoption of flow cytometry applications in clinical research, drug discovery and development process and wide adoption in diagnosis and monitoring of diseases, such as cancer and HIV.
Key findings of the study:
1. Instruments segment accounted for more than half of the Austria flow cytometry market in 2014; whereas, the reagents segment is projected to exhibit highest CAGR of 14.1%, during 2015–2020.
2. Cell-based technology segment accounted for four-fifths of the Austria flow cytometry market in 2014.
3. Within the clinical application, sorting/screening segment is projected as the fastest growing segment, registering a CAGR of 12.6% during the analysis period.
4. Within industrial application, hematological malignancies segment is expected to be one of the most lucrative segments throughout the forecast period.
5. Within end-users, commercial organizations segment would continue to maintain its dominant position, contributing around 36% of the market revenue, by 2020.
Product launch is the key developmental strategy adopted by the leading players in the market. In addition, the market players have also adopted strategies, such as acquisitions and collaborations, to bolster their market position. The key companies profiled in the report include Danaher Corporation, Becton, Dickenson and Co., Merck Millipore, Bio-Rad Laboratories, Inc., and Agilent Technologies, Inc.
To view the report, visit https://www.alliedmarketresearch.com/austria-flow-cytometry-market