With 8.3% CAGR, Flow Cytometry Market Size to Hit USD 9.22 Billion by 2029
According to Fortune Business Insights, The global flow cytometry market size was valued at USD 4.89 billion in 2021. The market is set to expand from USD 5.27 billion in 2022 to USD 9.22 billion by 2029, exhibiting a CAGR of 8.3% over the forecast period. Market Value to Rise Due to Growing Awareness Regarding Chronic Diseases
Pune, India, March 30, 2023 (GLOBE NEWSWIRE) — The global flow cytometry market size was valued at USD 4.89 billion in 2021. The market is set to expand from USD 5.27 billion in 2022 to USD 9.22 billion by 2029, exhibiting a CAGR of 8.3% over the forecast period. The rise is being driven by surging initiatives in the field of immuno-oncology and immunology research and the soaring adoption of advanced research techniques.
This information is provided by Fortune Business Insights™ in its research report, titled “Flow Cytometry Market, 2022-2029”.
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Key Industry Development:
November 2022 – Sony Corporation rolled out a flow cytometry data analysis cloud solution dubbed SFA – Life Sciences Cloud Platform. The platform assists in identifying rare cells such as cancer and stem cells from numerous cell populations using flow cytometers data.
Drivers and Restraints:
Market Value to Rise Due to Growing Awareness Regarding Chronic Diseases
One of the major factors propelling the flow cytometry market growth is the increasing prevalence of chronic diseases such as cancer, HIV/AIDS, and leukemia. This has escalated the demand for awareness regarding advanced technologies for disease diagnosis and conducting research associated with chronic diseases.
However, the market growth could be hindered due to the high cost associated with various instruments.
COVID-19 Impact:
Increase in Industry Revenue Due to Escalated Product Demand for Diagnostic Purposes
The COVID-19 pandemic led to an increase in flow cytometry demand in 2020. This can be attributed to the need for diagnosing the clinical progression of coronavirus. The pandemic period also registered a rise in adoption of reagents and instruments. The augmented product adoption helped researchers to assess the effect of COVID-19-specific immune response on the human body.
Segments:
Instrument Segment to Record Appreciable Growth Due to Soaring Adoption of Cell Sorters
Based on product & service, the market is segmented into software & services, consumables & reagents, and instruments. The instruments segment is estimated to expand at a moderate CAGR over the forecast period. This is on account of increasing technological advancements in cell sorting instruments and analyzers.
Bead Based Segment to Register Commendable Growth Owing to Introduction of Advanced Products
On the basis of technology, the market is fragmented into bead based and cell based. The cell based segment is expected to grow at a considerable CAGR throughout the estimated period. The rise is driven by numerous factors such as the escalated prevalence of chronic diseases and increasing patient visits to clinics and hospitals.
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Research Segment to Gain Traction on Account of Growing Investments
Based on application, the market is subdivided into research and clinical. The research segment is projected to record a healthy CAGR over the study period. The surge is being driven by increasing investments in the biotechnology, life science, and biopharmaceutical research industries.
On the basis of region, the market for flow cytometry is segmented into North America, Asia Pacific, Europe, and the rest of the world.
Report Coverage:
The report provides an in-depth analysis of the major aspects propelling industry expansion over the forecast period. It further gives an insight into the significant factors impelling market growth throughout the estimated period. Additional aspects of the report include the key steps taken by leading market participants for strengthening their business prospects.
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Regional Insights:
North America to Record Appreciable CAGR Owing to Rapid Introduction of Software & Services
The North America flow cytometry market share is slated to register considerable growth over the forecast period. The rise can be attributed to the surging adoption of clinical flow cytometers and the introduction of software and services.
Europe is set to grow at a considerable CAGR throughout the estimated period. The surge is driven by the growing prevalence of chronic diseases and the rising research demand for disease treatment.
Competitive Landscape:
Leading Players Introduce Products to Secure Competitive Edge
Prominent flow cytometry companies are focused on the development and launch of new products for maintaining their position in the market. Some of the other steps include acquisitions, mergers, collaborations, and the formation of alliances. Other steps comprise an increase in research activities.
List of Key Players Mentioned in the Report:
- Miltenyi Biotec (U.S.)
- BD (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- Danaher (U.S.)
- Thermo Fisher Scientific (U.S.)
- Agilent Technologies, Inc. (U.K.)
- DiaSorin S.p.A. (Italy)
- Sysmex (Japan)
- Apogee Flow Systems Ltd. (U.K.)
- Sony Biotechnology Inc (U.S.)
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Table Of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of HIV and Cancer, By Key Countries
- Technological Advancements in Flow Cytometry
- Key Industry Developments -Mergers, Partnerships, & Acquisitions
- Impact of COVID-19 on Global Flow Cytometry Market
- Global Flow Cytometry Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Products & Services
- Instruments
- Market Analysis, Insights and Forecast – By Products & Services
- Analyzer
- Sorter
- Reagents & Consumables
- Software & Services
- Market Analysis, Insights and Forecast – By Technology
- Cell Based
- Bead Based
- Market Analysis, Insights and Forecast – By Application
- Clinical
- Research
- Market Analysis, Insights and Forecast – By End-user
- Pharmaceuticals & Biotechnology Industries
- Academic & Research Organizations
- Hospitals & Diagnostics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- North America Flow Cytometry Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Products & Services
- Instruments
- Market Analysis, Insights and Forecast – By Products & Services
- Analyzer
- Sorter
- Reagents & Consumables
- Software & Services
- Market Analysis, Insights and Forecast – By Technology
- Cell Based
- Bead Based
- Market Analysis, Insights and Forecast – By Application
- Clinical
- Research
- Market Analysis, Insights and Forecast – By End-user
- Pharmaceuticals & Biotechnology Industries
- Academic & Research Organizations
- Hospitals & Diagnostics
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- By Application
- Canada
- By Application
- Europe Flow Cytometry Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Products & Services
- Instruments
- Market Analysis, Insights and Forecast – By Products & Services
- Analyzer
- Sorter
- Reagents & Consumables
- Software & Services
- Market Analysis, Insights and Forecast – By Technology
- Cell Based
- Bead Based
- Market Analysis, Insights and Forecast – By Application
- Clinical
- Research
- Market Analysis, Insights and Forecast – By End-user
- Pharmaceuticals & Biotechnology Industries
- Academic & Research Organizations
- Hospitals & Diagnostics
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- U.K.
- By Application
- Germany
- By Application
- France
- By Application
- Italy
- By Application
- Spain
- By Application
- Scandinavia
- By Application
- Rest of Europe
- By Application
Toc Continue…
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Frequently Ask Question :
What is the future of flow cytometry?
- The increasing introduction of technologically advanced flow cytometer and consumables, the rising awareness of chronic disease, growing research institutes and their activities, and increasing funding initiatives for research are expected to drive market growth.
Who is the manufacturer of flow cytometry?
- Miltenyi Biotec (U.S.), BD (U.S.) , Bio-Rad Laboratories, Inc. (U.S.) , Danaher (U.S.) , Thermo Fisher Scientific (U.S.) , Agilent Technologies, Inc. (U.K.) , DiaSorin S.p.A. (Italy) , Sysmex (Japan) , Apogee Flow Systems Ltd. (U.K.) , Sony Biotechnology Inc (U.S.)
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