Flow Cytometry Market worth $6.9 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 21, 2022 /PRNewswire/ -- Flow Cytometry Market is projected to reach USD 6.9 billion by 2027, at a CAGR of 8.1% according to a new report by MarketsandMarkets™. The growth of the flow cytometry market is largely driven by the rising prevalence of HIV/AIDS and cancer, growing adoption of flow cytometry techniques in research activities, increasing public-private initiatives in immunology and immuno-oncology research, and rising technological advancements in flow cytometry software.

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Flow Cytometry Market Scope:

Reagents & consumables segment held major share in flow cytometry market

Based on product & service, the flow cytometry market is segmented into reagents & consumables, instruments, software, services, and accessories. Reagents & consumables accounted for the largest share in the flow cytometry market. The large share of this segment can primarily be attributed to the growing use of flow cytometry techniques in clinical & research applications.

Research application segment dominated the global flow cytometry market

Based on applications, the flow cytometry market is segmented into research, clinical, and industrial applications. The research applications segment accounted for the largest share in the global flow cytometry market.  The large share of the research applications segment is mainly due to the growing adoption of flow cytometry in research activities and the increasing availability of flow cytometry services, such as cell sorting, cell cycle analysis, and apoptosis.

North America has registered fastest growth rate during the forecast period in flow cytometry market

Geographically, the flow cytometry market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share in the global flow cytometry market. The large share of North America in the flow cytometry market is largely driven by the presence of key market players and increasing public-private initiatives for research activities. The market in the Asia Pacific region is expected to grow at the highest CAGR of 8.6% during the forecast period. The high growth rate of the APAC region can be attributed to the growing pharmaceutical industry; increasing participation of emerging markets in flow cytometry-based research; expansion of research infrastructure; and increasing public-private initiatives to boost advanced proteomics research in the region.

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Flow Cytometry Market Dynamics:

Drivers:

1. Increasing incidence of HIV/AIDS and cancer
2. Flow cytometry techniques in research activities
3. Use of flow cytometry in regenerative medicine
4. Growing public−private initiatives in immunology and immuno-oncology research
5. Technological advancements in flow cytometry instruments

Restraints:

1. High product cost

Opportunities:

1. Emerging markets
2. Public-private funding initiatives in stem cell research
3. Adoption of recombinant DNA technology for antibody production

Challenges:

1. Complexities related to reagent development
2. Shortage of well-trained and skilled professionals

Key Market Players:

The prominent players in the flow cytometry market are Becton, Dickinson and Company (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), and Luminex Corporation (US). These companies have adopted organic and inorganic growth strategies, such as product launches and acquisitions, to maintain their leading positions in the flow cytometry market.

Recent Developments:

• 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 capabilities.

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