Latin American Flow Cytometry Market - This is How Leading Companies are Dominating Global Market

Global Growth Driving Factors:

Factors such as growing prevalence of cancer and HIV/ AIDS, growing adoption of flow cytometry techniques in research activities, and increasing number of technological advancements in the flow cytometry instruments and software are prominently driving the market growth. However, the high cost of flow cytometry products such as instruments and consumables is the major factor expected to restrain market growth to a certain extent.

Global Leading Companies:

The Latin American flow cytometry market is highly consolidated. Prominent market players include Becton, Dickinson and Company (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), Bio-Rad Laboratories Inc. (US), Miltenyi Biotec GmbH (Germany), Luminex Corporation (US).

Growth Strategies Adopted:

These companies offer a wide range of flow cytometry products as well as services focusing on innovating. However, the high market consolidation acts as a barrier for new entrants in the market.

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Recent Developments:

# In August 2022, BD (US) collaborated with Laboratory Corporation of America Holdings (Labcorp) (US) to develop flow cytometry-based companion diagnostics (CDx) for treatments against cancer and other diseases.

# In March 2021, Danaher Corporation (US) launched the CytoFLEX SRT Benchtop Cell Sorter, which is built on the principles of CytoFLEX to make multicolor applications accessible.

More About Leading Players:

Becton, Dickinson and Company (US) is the leading player in the Latin American flow cytometry market. The company has a comprehensive flow cytometry product portfolio. BD focuses on innovating technologically and has been launching products consistently. For instance, the company launched the FACSymphony A5 SE Cell Analyzer. This fluorescence-activated and spectral-enabled cell analyzer allows researchers to choose between spectral or compensation-based cell analysis to meet different flow cytometry needs.

The company dominates the flow cytometry market in Latin America due to factors such as the high reliability of diagnostic centres and other end user on BD products and the company’s strong image as a brand. Besides, the company maintains a strong geographic presence in Latin American countries through a wide and well-established network of distributors. The company is highly focused on consistency in the quality of its products & services and efficient adaptation in new business environments.

Danaher Corporation (US) is one of the leading players in the flow cytometry market in Latin America. Danaher offers products & services for medical, industrial and commercial applications through Life Sciences, Diagnostics, Dental, and Environmental & Applied Solutions business segments. The company is focused on growing through developments such as product launches and acquisitions. In June 2011, Danaher (US) acquired Beckman Coulter, Inc.

The company offers flow cytometry products through Beckman Coulter, Inc. Beckman Coulter adds to Danaher’s revenue growth through innovative research, advancement, expansion, and the launch of novel flow cytometry products. Between 2019 and 2021, Beckman Coulter registered many acquisitions and product launches in the flow cytometry market. This has led to the company establishing a strong position in the global as well as the Latin American Market.

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Geographical Growth Dynamics:

Brazil is the largest country-level market and Mexico was the fastest-growing country of the Latin American Flow Cytometry market in 2021.

On the basis of country, the flow cytometry market in Latin America is segmented into Brazil, Mexico, Argentina, Colombia, Chile, and the Rest of Latin America. Brazil accounted for the largest share of the Latin American flow cytometry market. Factors such as the growing emphasis on cancer research, the development of effective treatments, and support for the improvement of scientific research in the country contribute to the large share of Brazil in the Latin American flow cytometry market.