Flow Cytometry Market Size to Reach $10.4 Billion, Globally, by 2031 at 8.3% CAGR: Allied Market Research

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Jul 11, 2022, 09:40 ET

Technological advancements and advent of flow cytometry technology in novel research applications such as cytogenomics, proteomics, and marine biology drive the growth of the global flow cytometry market.

PORTLAND, Ore., July 11, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Flow Cytometry Market by Component (Instruments, Reagents and consumables, Software, Services), by Technology (Cell based flow cytometry, Bead based flow cytometry), by Application (Academic and clinical applications, Diagnostic applications), by End User (Hospitals, Medical schools and clinical testing labs, Commercial organizations, Academic institutions, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global flow cytometry industry generated $4.7 billion in 2021, and is anticipated to generate $10.4 billion by 2031, witnessing a CAGR of 8.3% from 2022 to 2031.

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Prime determinants of growth

Technological advancements, high adoption in various research and diagnostic applications, and advent of flow cytometry technology in novel research applications such as cytogenomics, proteomics, and marine biology drive the growth of the global flow cytometry market. However, factors such as high-cost associated with instruments and reagents, lack of awareness among potential end users, and limited availability of technical expertise restrict the market growth. Contrarily, rise in incidences of diseases such as cancer and HIV present new opportunities in the coming years.

Covid-19 Scenario

The outbreak of the Covid-19 pandemic has had a positive impact on the global flow cytometry market, owing to surge in use of reagents in research activities and clinical trials.

Cytek Biosciences Inc. helped researchers and clinicians in the world to study impact of the COVID-19 virus on human immune systems in March 2020. Flow cytometry showed that COVID-19 patients reduced B-cell and T-cell frequencies as compared to recovered donors and healthy donors.

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The instruments segment to maintain its leadership status throughout the forecast period

Based on component, the instruments segment held the highest market share in 2021, accounting for more than half of the global flow cytometry market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to development of novel instrument designs, demand for highly efficient replaceable components, applications in treatment of newer diseases, and increase in research & developments in flow cytometry techniques. However, the reagents and consumables segment is projected to manifest the highest CAGR of 10.5% from 2022 to 2031, owing to the advantage they offer in flow cytometry analysis.

The academic and clinical applications segment to maintain its lead position during the forecast period

Based on application, the academic and clinical applications segment accounted for the largest share in 2021, contributing to nearly two-thirds of the global flow cytometry market, and is projected to maintain its lead position during the forecast period. This is attributed to increase in research of academic & clinical applications of flow cytometry. However, the diagnostic segment is expected to portray the largest CAGR of 8.5% from 2022 to 2031, due to rise in use of technology in diagnostic applications.

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North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global flow cytometry market, owing to rapid technological advancements, increase in investments in research & development activities, rise in patent pool, and surge in number of applications. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.6% from 2022 to 2031. This is due to outsourcing of research processes by major international companies to contract research organizations (CROs) located in Asia-Pacific.

Leading Market Players: -

Agilent Technologies, Inc.
Becton Dickinson and Company
bioMérieux SA
Bio-Rad Laboratories, Inc.
Danaher Corporation
DiaSorin S.p.A.
Miltenyi Biotec, Inc.
Sartorius AG
Sysmex Corporation
Thermo Fisher Scientific Inc.

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