Flow Cytometry Market To Surpass $10,065.4 Million Revenue by 2030: P&S Intelligence

NEW YORK, May 31, 2022 /PRNewswire/ -- According to the market research and consulting firm P&S Intelligence, the total flow cytometry market size was $4,874.1 million in 2021, which is likely to reach $10,065.4 million by 2030, propelling at an 8.4% CAGR from 2021 to 2030. This will mainly be because of the growth in drug development, increase in the demand for analysis in clinical diagnostics, and the usage of flow cytometry for research purposes. For instance, this technology is widely used in in-vitro molecular studies and cancer research.

Healthcare centers accomplish immunophenotyping for the analysis of primary immunodeficiency ailments, lymphoma and leukemia, and paroxysmal nocturnal hemoglobinuria (PNH), and reporting of immunity status in patients with HIV contagions and other malignant diseases. For example, globally, about 20 million new cancer cases were reported in 2020, and this number will likely reach around 30 million by 2040.

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Hence, a sum of $105 million was invested in 2019 and another $137 million in 2020 by a U.S. government organization for advancing cancer detection and diagnosis technologies.

In the years to come, the bead-based category will witness the higher CAGR, around 9%, in the flow cytometry market, under segmentation by technology. In recent times, flow cytometric studies utilizing beads have become popular in numerous laboratory analytical processes.

Hospitals and clinics are the leading end users of flow cytometry analytical tools. Clinics and hospitals deal with hundreds of patients daily because of the snowballing occurrence of ailments, many of which are now being diagnosed using flow cytometry.

Geographical Analysis of Flow Cytometry Market

• North America had the largest revenue share in the flow cytometry market in 2021. This is accredited to the presence of key healthcare administrations and research institutes, including four of the top five cancer research centers in the world.
• Further, the pharmaceutical industry of the U.S. has continued to lead in the development of new medicines and medical research. Here, the technology is widely utilized for understanding the response of single cells to pipeline drug candidates and the complicated pathways that are involved in the cell–drug interaction.
• Moreover, in Canada, 5,584 new medicines were aligned for numerous stages of assessment in 2019. Therefore, the increasing number of clinical trials for drug safety and efficacy evaluation push the growth of the market.

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With a rise in healthcare investments and improvements in healthcare facilities, the biomedical R&D industry is forecast to expand significantly. For example, the total spending by Johnson & Johnson on R&D was $12.2 billion in 2020 and $14.7 billion in 2021.

In all, the pharmaceutical business spent $83 billion in 2019 on R&D, and the count of the newly approved drugs for sale augmented by around 60% between 2010 and 2019. Therefore, the expansion of the flow cytometry market has resulted from the increasing investments in R&D by biotechnology and pharmacological firms and product launches and approvals.

Flow Cytometry Market Segmentation Analysis

By Technology

• Cell-Based Flow Cytometry
• Bead-Based Flow Cytometry

By Offering

• Instruments
• Reagents
• Software and Services

By Application

• Drug Discovery
• Cancer Diagnostics
• Stem Cell Therapy
• Hematology and Immunology
• Organ Transplantation

By End User

• Hospitals and Clinics
• Pharmaceutical and Biotechnology Companies
• Academic and Research Institutes

Regional Outlook

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Italy
• Spain
• France
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E.

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SOURCE P&S Intelligence