Flow Cytometry Market Size, Share & Growth | Forecast [2031]

Report Description

The global flow cytometry market size was valued at nearly USD 4.7 Billion in 2022 and is anticipated to reach USD 9.47 Billion by 2031, expanding at a CAGR of 8.1% during the forecast period, 2023 – 2031. The growth of the market is attributed to increasing use of AI platforms in flow cytometry workflows, as well as developments in flow cytometry software and growing public-private collaborations in immunology and immuno-oncology research.

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Flow cytometry has evolved as a critical technique for drug discovery and development safety and exploratory objectives. This technology is utilized throughout the research process, from pre-clinical trials to target selection and screening. Flow cytometry assess a huge number of particles in a short amount of time and offer statistically reliable information on cell populations. These capabilities, together with its multi-parametric approach, make flow cytometry more suitable for use in drug research and development procedures in the pharmaceutical and biopharmaceutical sectors.

Flow cytometry is a versatile instrument that may be utilized for a wide range of cell study applications, from phenotyping to cell health and viability. Flow cytometry's two most significant benefits are its capacity to measure a large number of parameters two to 30 or more on the same sample and its ability to gather data from millions of cells in a couple of seconds.

A flow cytometer has three primary components: fluidics, optics, and electronics, which work together to offer a full cell analysis system. The rising incidence of chronic medical conditions like as HIV/AIDS and cancer necessitates toxicity testing as well as an accurate, speedy, and sensitive prognostic approach, which is generating a positive perspective for market growth.

In 2012, prochymal, a stem-cell therapy, was provisionally licensed in Canada for the treatment of acute graft-vs-host disease in children who were refractory to steroids. Cell and gene therapy firms performed better, according to ARM, which computed stock performance that outperformed the larger NBI index in its study. Corona virus mutation and case of individual affecting with these new variants are creating an opportunity for market growth.

Flow Cytometry Market Trends, Drivers, Restraints, and Opportunities

• Rapid growth of healthcare and medical equipment industries are major factors propelling the market.
• Growing demand for novel drugs discovery is anticipated to drive the market in the coming years.
• Associations and government investments are encouraging the development of gene and cell technologies which is expected to fuel the market.
• Increasing cases of cancer, HIVs, and other chronic diseases is projected to boost the market during the forecast period.
• Rising demands for quick diagnosis is projected to drive the market in coming years.
• High maintenance costs and several other indirect expenses is expected to hinder the market growth.
• Alternative techniques act as key challenges that can restrict the market expansion during the forecast period.
• Boosting research endeavors in major nations, lowering regulatory impediments, and ongoing development of healthcare infrastructures are estimated to create immense opportunities for the market players.

Scope of Flow Cytometry Market Report

The report on the global flow cytometry market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Flow Cytometry Market Segment Insights

The kit & reagent segment is projected to hold a major market share

Based on products, the flow cytometry market is divided into instrument, kit & reagent, software & services, and others. The kit & reagent segments is expected to represent a key share of the market during the forecast period owing to rising demand for development and commercialization of high-quality application-specific reagents, and assays and continuous requirement of flow cytometry reagents.

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The hospitals & clinics segment is expected to grow at a rapid pace

On the basis of end users, the flow cytometry market is segmented into academia & research institutes, pharmaceutical & biotechnology companies, hospitals & clinics, and others. The hospitals & clinics segment is expected to account for a key share of the market in the coming years due to increasing demand for diagnosis instruments.

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The cell-based flow cytometry segment is anticipated to expand at rapid CAGR

In terms of technologies, the flow cytometry market is bifurcated into cell-based flow cytometry and bead-based flow cytometry. The cell-based flow cytometry segment is expected to constitute a key share of the market during the forecast period due to wide applications in clinical researches such as cell function assays, and apoptosis.

The stem cell therapy segment is expected grow at a rapid pace

On the basis of applications, the flow cytometry market is segmented into hematology, drug discovery, stem cell therapy, oncology, organ transplantation, and others. The stem cell therapy segment is expected to grow at a rapid pace during the forecast period due to increasing number of researches in stem cell technologies also growing adoption of recombinant DNA technology for antibody production.

Regional Analysis

On the basis of regions, the flow cytometry market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at a high CAGR during the forecast period. The regional market growth is attributed to R&D spending and federal support in the region is increasing.

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