Flow Cytometry Market to Reach $16.6 Billion by 2032 at 10.3% CAGR: Allied Market Research
PORTLAND, Ore., Nov. 16, 2023 /PRNewswire/ -- Flow cytometry is a powerful analytical technique used in various fields of biology, medicine, and clinical diagnostics. It enables the simultaneous measurement of multiple physical and chemical characteristics of individual cells or particles as they flow through a laser-based detection system.
Allied Market Research published a report, titled, "Flow Cytometry Market by Component (Instruments, Reagents & Consumables, Software, and Services), Technology (Cell-Based Flow Cytometry and Bead-Based Flow Cytometry), Application (Academic & Clinical Applications and Diagnostic Applications), and End User (Hospitals, Medical Schools and Clinical Testing Labs, Commercial Organizations, Academic Institutions, and Others), Global Opportunity Analysis and Industry Forecast, 2023–2032.". According to the report, the global Flow Cytometry Market was valued at $6.2 Billion in 2022 and is estimated to reach $16.6 Billion by 2032, exhibiting a CAGR of 10.3% from 2023 to 2032.
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Prime determinants of growth
The flow cytometry market has experienced significant growth due to technological advancements, high adoption of flow cytometry techniques in disease diagnosis, and surge in adoption of flow cytometry techniques in drug discovery and development.
Report coverage & details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2022 |
Market Size in 2022 |
$6,216.42 million |
Market Size in 2032 |
$16,577.98 million |
CAGR |
10.3 % |
No. of Pages in Report |
360 |
Segments covered |
Component, Technology, Application, End User, and Region. |
Drivers |
Technological advancements. High adoption of flow cytometry technique in disease diagnosis. Surge in adoption of flow cytometry technique in drug discovery and development. |
Opportunities |
Integration of AI in flow cytometry |
Restraints |
High cost of instruments |
Economic Downturn Analysis: Impact of Recession in 2023 on the Flow Cytometry Market
- The global recession has a significant impact on the flow cytometry market.
- The high inflation rate and the layoffs have impacted the new product development and research activities.
- However, the market for flow cytometry market is expected to recover owing to high adoption of flow cytometers for cancer diagnosis.
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The reagents and consumables segment to maintain its leadership status throughout the forecast period
Based on component, the reagents and consumables segment held the highest market share in 2022, accounting for almost one-third of the flow cytometry market revenue, owing to high use of reagents and consumables in disease diagnosis.
The cell-based flow cytometry segment to maintain its leadership status throughout the forecast period
Based on technology, the cell-based flow cytometry segment held the highest market share in 2022, accounting for almost four-fifths of the flow cytometry market revenue. This is attributed to high adoption of cell-based flow cytometry for cell analysis.
The academic and clinical applications segment to maintain its leadership status throughout the forecast period
Based on applications, the academic and clinical applications segment held the highest market share in 2022, accounting for more than three-fifths of the flow cytometry market revenue. This is attributed to high adoption of flow cytometry for research purposes.
The commercial organizations segment to maintain its leadership status throughout the forecast period
Based on end user, the commercial organizations segment held the highest market share in 2022, accounting for more than one-third of the flow cytometry market revenue. This is attributed to high adoption of flow cytometry for research and development in the field of drug discovery.
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The North America segment to maintain its leadership status throughout the forecast period
Based on region, the North America segment held the highest market share in 2022, accounting for two-fifths of the flow cytometry market revenue. This is attributed to the rapid technological advancements and presence of major key players.
Leading Market Players:
- Agilent Technologies Inc.
- Becton, Dickinson and Company
- Biomerieux Sa
- Bio-Rad Laboratories Inc.
- Danaher Corporation
- Miltenyi Biotec Gmbh
- Sartorius Ag
- Sysmex Corporation
- Thermo Fisher Scientific Inc.
- Cytek Biosciences
The report provides a detailed analysis of these key players in the Flow Cytometry Market. These players have adopted different strategies such as product launch, product approval, acquisition, and collaboration to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
"We have also published few syndicated market studies in the similar area that might be of your interest. Below is the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."
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