Flow Cytometry Market worth $7.0 billion | MarketsandMarkets

CHICAGO, Aug. 9, 2023 /PRNewswire/ — In the near future, the flow cytometry industry is poised to undergo remarkable advancements, driven by ongoing innovations in technology and its widening applications across various fields. With the integration of artificial intelligence and machine learning, data analysis and interpretation will become more efficient and accurate, enabling researchers and clinicians to gain deeper insights from complex cellular data. The miniaturization of flow cytometry instruments will lead to portable and point-of-care devices, revolutionizing diagnostics and personalized medicine. Additionally, the incorporation of multi-parameter analysis and higher-throughput capabilities will enhance the speed and comprehensiveness of cellular profiling. As the industry continues to evolve, collaborations between academia, industry, and healthcare will play a pivotal role in shaping the future of flow cytometry, unlocking its potential to uncover novel discoveries and improve patient outcomes.
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.
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Browse in-depth TOC on “Flow Cytometry Market”
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Flow Cytometry Market Scope:
Report Coverage
Details
Market Revenue in 2023
$4.7 billion
Estimated Value by 2028
$7.0 billion
Growth Rate
Poised to grow at a CAGR of 8.3%
Market Size Available for
2021–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Technology, Product & Service, Application & End User
Geographies Covered
North America, Europe, Asia Pacific, Latin America (LATAM), and Middle East and Africa (MEA)
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Public-private funding initiatives in stem cell research
Key Market Drivers
Technological advancements in flow cytometry instruments
 
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.
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Flow Cytometry Market Dynamics:
Drivers:
Rising incidence of HIV/AIDS and cancerWide applications in research for drug discovery & developmentUse of flow cytometry in regenerative medicineGrowing public-private initiatives in immunology and immuno-oncology researchTechnological advancements in flow cytometry instrumentsRestraints:
High product pricingOpportunities:
High growth potential in emerging economiesRising focus on stem cell researchUptake of recombinant DNA technology for antibody productionChallenges:
Complexities related to reagent developmentShortage of skilled professionalsKey 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).
Recent Developments:
In June 2023, BD launched The BD FACSDuet Premium Sample Preparation System to automate sample preparation in clinical flow cytometry diagnostics.In May 2023, Sysmex launched Clinical Flow Cytometry System Flow Cytometer XF-1600, Sample Preparation System PS-10, antibody reagents, and other related products in Japan.In June 2022, BD (US) launched BD FACSDiscover S8 Cell Sorter with high-speed imaging technology that sorts cells based on visual characteristics.In March 2022, Beckman Coulter, Inc. (US) launched a fully automated sample preparation system (SPS) CellMek SPS, which offers on-demand processing for many sample types to help laboratories expand their capabilities.Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=65374584
Flow Cytometry Market Advantages:
Multiparameter Analysis: Flow cytometry enables simultaneous analysis of multiple cellular parameters (e.g., size, shape, markers), offering a comprehensive view of complex cell populations and their interactions.Single-Cell Resolution: The technology provides insights into individual cells, allowing researchers to study heterogeneity, identify rare cell populations, and understand cellular behavior at a granular level.High Throughput: Flow cytometers can analyze thousands of cells per second, facilitating rapid data acquisition and significantly reducing experiment duration.Automation and Reproducibility: Integration of automation and robotics ensures consistent and reproducible results, minimizing experimental variations and human errors.Cell Sorting: Flow cytometers equipped with cell sorting capabilities enable isolation of specific cell subsets for downstream analysis, transplantation, or further experimentation.Functional Analysis: Flow cytometry can assess cellular functions, such as viability, proliferation, apoptosis, and cell cycle progression, providing insights into cell health and behavior.Immunophenotyping: Valuable in immunology research, flow cytometry helps characterize immune cell populations, aiding in the understanding of immune responses, diseases, and therapies.Drug Discovery: Flow cytometry plays a pivotal role in drug development by assessing drug effects on cells, identifying potential drug candidates, and evaluating drug toxicity.Cancer Research: It aids in cancer diagnostics and research by detecting cancer cells, characterizing tumor heterogeneity, and evaluating treatment responses.Personalized Medicine: Flow cytometry contributes to personalized medicine by enabling tailored treatments based on individual patient profiles and disease characteristics.Advanced Data Analysis: Integration with AI and machine learning enhances data interpretation, uncovering complex patterns and relationships within datasets.Portable Systems: Miniaturization of instruments results in portable flow cytometry devices suitable for point-of-care diagnostics, field research, and resource-limited settings.Clinical Applications: It’s used in clinical laboratories for diagnosing immunological disorders, monitoring disease progression, and assessing treatment efficacy.Research Versatility: Flow cytometry finds applications in various fields, including immunology, hematology, microbiology, neuroscience, stem cell research, and more.Collaborative Potential: The technology encourages collaboration between researchers, clinicians, and industries, fostering cross-disciplinary advancements.These pointers highlight the multifaceted advantages of flow cytometry, making it an indispensable tool in scientific research, clinical diagnostics, and healthcare innovation.
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