Austria flow cytometry market report, published by Allied Market Research, forecasts that the Austria market was valued at $14.0 million in 2014, and is expected to reach $27.7 million by 2020, supported by a CAGR of 12.3% during the forecast period 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.
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COVID-19 scenario analysis:
1) The COVID-19 impact on the Austria flow cytometry market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.
3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.
4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.
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Key Findings of the Austria Flow Cytometry Market:
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 20152020.
Cell-based technology segment accounted for four-fifths of the Austria flow cytometry market in 2014.
Within the clinical application, sorting/screening segment is projected as the fastest growing segment, registering a CAGR of 12.6% during the analysis period.
Within industrial application, hematological malignancies segment is expected to be one of the most lucrative segments throughout the forecast period.
List of Key Players Profiled in the Report: