Flow Cytometry Market worth $7.0 billion | MarketsandMarkets

Flow Cytometry Market worth $7.0 billion | MarketsandMarkets

“Key players in the flow cytometry market include BD (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), Sony Corporation (Japan), Bio-Rad Laboratories, Inc. (US)”
Flow Cytometry Market in terms of revenue was estimated to be worth $4.7 billion in 2023 and is poised to reach $7.0 billion by 2028, growing at a CAGR of 8.3% from 2023 to 2028 according to a new report by MarketsandMarkets™

Flow Cytometry Market in terms of revenue was estimated to be worth $4.7 billion in 2023 and is poised to reach $7.0 billion by 2028, growing at a CAGR of 8.3% from 2023 to 2028 according to a new report by MarketsandMarkets™.

The growth of this market is driven by the increasing prevalence of chronic diseases and increasing funding for research. Moreover, the launch of novel products in the market by key market players and increased use of flow cytometry in clinical research & diagnostics, such as HIV/AIDS Monitoring, organ transplantation, and cancer diagnostics, are some of the elements propelling the growth of the market.

The Reagents & consumables segment accounted for the largest share of the product & service segment in the flow cytometry market in 2022.

Based on products & services, the flow cytometry market is segmented into software, services, reagents & consumables, instruments, and accessories. Reagents & consumables accounted for the largest share of the flow cytometry market in 2022. The factors attributable to the growth, development of high-quality reagents, increased research activities, and launch of application-specific cytometry reagents.

The Research application segment accounted for the largest share of the application segment in the flow cytometry market in 2022.

Based on applications, the flow cytometry market is segmented into clinical, research and industrial applications.  In 2022, the research applications segment accounted for the dominant share in the global flow cytometry market. The dominance of the market is attributable to various factors, such as increased research activities & funding and a rise in industrial & academic collaboration. The clinical applications segment is likely to grow at a significant CAGR owing to the increased adoption of flow cytometry in clinical applications.

North America dominated the flow cytometry market in 2022.

Based on region, the flow cytometry market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. In 2022, North America dominated the market, followed by Europe. The presence of key market players in the region and increasing public-private initiatives for research activities are key factors supporting the growth of the North American flow cytometry market. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The high prevalence of HIV/AIDS & cancer and rising treatment options for target diseases (cancer and immunological disorders) are driving the market growth. Further factors like rising government funding and the strong presence of key players in the region are some of the factors anticipated to contribute to the flow cytometry market growth in the Asia Pacific.

Flow Cytometry Market Dynamics:

Drivers:

  1. Rising incidence of HIV/AIDS and cancer
  2. Wide applications in research for drug discovery & development
  3. Use of flow cytometry in regenerative medicine
  4. Growing public-private initiatives in immunology and immuno-oncology research
  5. Technological advancements in flow cytometry instruments

Restraints:

  1. High product pricing

Opportunities:

  1. High growth potential in emerging economies
  2. Rising focus on stem cell research
  3. Uptake of recombinant DNA technology for antibody production

Challenges:

  1. Complexities related to reagent development
  2. Shortage of skilled professionals

Key Market Players:

Key players in the flow cytometry market include BD (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), Sony Corporation (Japan), Bio-Rad Laboratories, Inc. (US), Miltenyi Biotec (Germany), Enzo Biochem, Inc. (US), Sysmex Corporation (Japan), bioMérieux (France), Cytonome/ST, LLC (US), Sartorius AG (Germany), Cytek Biosciences (US), Union Biometrica, Inc. (US), Luminex Corporation (Italy),  Apogee Flow Systems Ltd. (UK), Stratedigm, Inc. (US), NanoCellect Biomedical, Inc. (US), On-chip Biotechnologies, Co., Ltd. (Japan), (US), Nexcelom Biosciences LLC. (US), BennuBio Inc. (US), Orflo Technologies (US), Bay Biosciences Co., Ltd. (Japan), BioLegend, Inc. (US), and CytoBuoy B.V (Netherlands).

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