The major factors driving the growth of the flow cytometry market are the technological advancements in flow cytometers, increasing adoption of flow cytometry techniques in research activities & clinical trials, the growing focus on immunology and immuno-oncology research, increasing incorporation of AI platforms in flow cytometry workflows & advancements in flow cytometry software, high incidence and prevalence of HIV-AIDS & cancer, and availability of novel application-specific flow cytometry products.
What the Market Looks Like?
The global Flow cytometry market size is projected to reach USD 6.4 billion by 2025 from USD 4.0 billion in 2019, at a CAGR of 8.3%.
On the basis of technology, the global Flow Cytometry Reagents and Consumables Market is segmented into cell-based and bead-based flow cytometry. The bead-based flow cytometry segment is estimated to witness the highest growth during the forecast period. This technology offers various procedural advantages over other cell-based assays, such as the capacity to detect multiple analytes (also known as multiplexing), high reproducibility, stability, and speed.
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What Drives the Market?
The growth of the global market for Flow Cytometry is primarily influenced by the following factors:
- Technological Advancements
- Increasing Incorporation of Ai Platforms in Flow Cytometry Workflows and Advancements in Flow Cytometry Software
- Growing Adoption of Flow Cytometry Techniques in Research and Academia
- Growing Public-Private Initiatives in the Field of Immunology and Immuno-Oncology Research
- Rising Global Incidence and Prevalence of Hiv/Aids and Cancer
- Increased Availability of Application-Specific Products
Geographically, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to account for the largest share of the global market in 2019. The favorable business environment, continuously growing number of research activities, the rising number of drug discovery initiatives by US-based pharmaceutical & biotechnology companies, and the strong presence of key players are factors propelling the growth of the North American flow cytometry industry.
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Key Market Players:-
Becton, Dickinson and Company (US), Beckman Coulter, Inc. (US), Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Sysmex Partec GmbH (Germany), Luminex Corporation (US), Miltenyi Biotec GmbH (Germany), Bio-Rad Laboratories, Inc. (US), Sony Biotechnology, Inc. (US), Agilent Technologies, Inc. (US), bioMérieux S.A. (France), Enzo Life Sciences, Inc. (US), Stratedigm, Inc. (US), Cytonome/ST LLC (US), Cytek Biosciences (US), and Apogee Flow Systems Ltd. (UK) are the key players operating in the global market.