USD 7.05 Billion
Report ID: SQMIG35H2031 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 130 | Figures: 72
The Global Flow Cytometry Market was valued at USD 7.05 Billion in 2021, and it is expected to reach a value of USD 12.98 Billion by 2028, at a CAGR of 9.10% over the forecast period (2022 - 2028).
Industry expansion is being driven by the rise in cancer, immune system problems, and infectious diseases. High demand for flow cytometry instruments is also a result of growing R&D expenditures in biotechnology, life science, and biopharmaceutical research activities. The development of microfluidic flow cytometry for Point-of-Care (POC) testing is one example of the new and improved analytical instruments being introduced by technological improvements in the technique.
The use of flow cytometry has increased as a result of the COVID-19 epidemic. Due to its improved accuracy and throughput capacity, the approach presents a possible substitute for COVID-19 testing since it can get around the drawbacks of existing PCR- or antibody-based testing solutions. Consequently, the sector has expanded as a result of the adoption of flow cytometry-based techniques for COVID-19 diagnoses and disease surveillance. The introduction of new products in this field also shows that the pandemic has sparked advances in the field of flow cytometry.
The test makes use of flow cytometry to provide crucial details about a patient's reaction to COVID-19 antigens and to assist in making wise treatment decisions. It is projected that the introduction of such innovations would foster industry growth in the near future. Another reason influencing the adoption of flow cytometry techniques is the increased prevalence of infectious diseases worldwide. Effective immunophenotyping & cell isolation alternatives are crucial for the mitigation of these diseases, which each year cause over 4.5 million fatalities. Pathogenic microorganisms are easily detectable from environmental samples using this approach, which can provide a viable immunophenotyping option.
Because the burden of infectious diseases is so great in low- and lower-middle-income countries, it is expected that the demand for highly effective diagnostic methods like flow cytometry will rise as infectious disease death rates continue to climb. Furthermore, a considerable portion of the sector development is being driven by rising investments in significant biotechnology and biopharmaceutical companies. To assist its antibody drug development effort for COVID-19, for instance, GlaxoSmithKline stated in 2020 that it had invested more than USD 250 million in Vir Biotechnology, an immunological startup in the clinical stage.
Global Market Size
USD 7.05 Billion
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The Global Flow Cytometry Market is segmented based on Product, Technology, Application, End-use, and Region. Based on Product it is categorized into: Instruments (Cell Analyzers, Cell Sorters), Reagents & Consumables, Software, Accessories, and Services. Based on Technology it is categorized into: Cell-based, Bead-based. Based on Application it is categorized into: Research (Pharmaceutical (Drug Discovery, Stem Cell, and In Vitro Toxicity), Apoptosis, Cell Sorting, Cell Cycle Analysis, Immunology, Cell Viability), Industrial, Clinical (Cancer, Organ Transplantation, Immunodeficiency, and Hematology). Based on End-use it is categorized into: Commercial Organizations, Hospitals, Academic Institutes, and Clinical Testing Labs. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product
The instruments segment dominated the flow cytometry market in 2021 and is expected to maintain its dominance throughout the forecast period. This high share could be attributed to technological advancements and the introduction of novel cytometers by key players. The high cost of these instruments also contributes to the segment's high revenue generation. Because of their increased adoption in diagnostics and research, the reagents and consumables segment held a significant revenue share in the flow cytometry market in 2021. Over the forecast period, the segment is expected to grow at a rapid pace.
Analysis by Application
The research segment dominated the Flow Cytometry market in 2021 and is expected to maintain its dominance throughout the forecast period. This high share can be attributed to increased R&D activities in cancer and infectious diseases, such as COVID-19. Moreover, rising R&D investments in the pharmaceutical and biotechnology industries are expected to create a favorable environment for market growth. Clinical diagnosis is expected to be the fastest-growing segment, owing to the rising demand for low-cost disease diagnosis and the associated benefits of flow cytometry in disease detection, such as faster and more accurate results. Furthermore, prominent players' ongoing organic growth strategies, as well as the introduction of novel flow cytometry solutions for clinical applications, are expected to significantly support the Flow Cytometry market growth.
Analysis by End-use
The commercial organization segment dominated the flow cytometry market. This dominance can be attributed to increased R&D efforts by commercial organizations such as pharmaceutical and biotechnology firms. Moreover, expanding food industries in developing countries such as China and India are expected to drive segment growth. Furthermore, increased commercial research activities to develop effective therapeutics for life-threatening diseases such as cancer are expected to drive high demand for flow cytometry solutions. on the other hand, the hospitals and clinical testing labs segment are expected to grow rapidly due to the rising demand for cost-effective diagnoses of target diseases such as cancer.
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In 2021, North America dominated the flow cytometry market. Throughout the study period, the region is expected to dominate the market. This dominance can be attributed to the United States' high healthcare spending, well-established healthcare infrastructure, and widespread adoption of technologically advanced flow cytometry solutions. Furthermore, the established pharmaceutical industry, as well as extensive research activities by research universities and pharmaceutical companies, have created a significant demand for flow cytometry solutions for research purposes. During the forecast period, the Flow Cytometry market in the Asia Pacific is expected to grow at an exponential rate. This region's profitable growth is also a result of ongoing government support for the establishment of the pharmaceutical industry in developing markets.
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The flow cytometry market is considered highly consolidated due to the presence of very few players in the market. These players are holding a huge share of the market and are likely to remain in a similar competitive environment for the next few years. Key Flow Cytometry market players in the market are Becton, Dickinson and Company, Danaher Corporation Sysmex Corporation, Bio-Rad Laboratories Inc, Luminex Corporation, etc.
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According to our analysis, the global flow cytometry market is expected to expand at a rapid pace in the coming years, owing to technological advancements and widespread adoption in a variety of research and diagnostic applications. Moreover, the application of flow cytometry technology in novel research applications such as cytogenomics, proteomics, and marine cell biology would contribute to the industry's expansion. Furthermore, rising disease incidence rates, such as cancer and HIV, are expected to drive the adoption of flow cytometry technology across diagnostic applications.
|Market size value in 2021||USD 7.05 Billion|
|Market size value in 2028||USD 12.98 Billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Flow Cytometry Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Flow Cytometry Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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