Flow Cytometry Products Market: Global Industry Analysis and Forecast (2023-2029)

Flow Cytometry Products Market was valued at US$ 7.31 Bn. in 2022. Global Flow Cytometry Products Market size is expected to grow at a CAGR of 9.2% through the forecast period.
Flow Cytometry Products Market Overview:
The method known as flow cytometry allows for the quick analysis of individual cells or particles as they pass in front of one or more lasers while suspended in a buffered salt solution. The visible light scatters and one or more fluorescence characteristics are examined for every particle. The market is being driven by increased R&D efforts by many prominent players for the creation of multicolor assays and cutting-edge analytical reagents.To Know About The Research Methodology :- Request Free Sample Report

The flow cytometer has one or more lasers and a number of light detectors that can recognize specific traits specific to different cell types. It is most frequently used to assess the body's fluids, including peripheral blood and bone marrow.

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Flow Cytometry Products Market Dynamics:
Flow Cytometry Products Market Drivers:

1. Increasing adoption of flow cytometry techniques in research and academics: The increasing incidence and prevalence of HIV/AIDS and cancer, the growing use of flow cytometry techniques in academic and research settings, the growth of public-private initiatives in the fields of immunology and immuno-oncology research, technological advancements, the increasing integration of AI platforms into flow cytometry workflows, and improvements in flow cytometry software all contribute to the market's growth.

During drug research and development procedures, flow cytometry has become a crucial technique for safety and exploratory objectives. This tool is employed for target identification and screening through pre-clinical studies.

In a little amount of time, flow cytometry can analyze a huge number of particles and deliver statistically reliable data regarding cell populations. These capabilities, along with its multi-parametric methodology, make flow cytometry products ideal tools for drug discovery and development in the pharmaceutical and biopharmaceutical sectors.

2. Increasing healthcare expenditure: Due to rising healthcare spending in developed nations and improving healthcare infrastructure, the biotechnology market is expected to have considerable growth through the forecast period.

The market is expected to be driven by a rise in government financing for clinical research including in vitro molecular diagnostics, as these studies are essential to the creation of new products. Significant market growth has been fueled by rising investments in well-known biotech and biopharma businesses. Compared to the United States, Chinese investors are increasingly concentrating on funding European biotech firms.

Medication development, production, and distribution are all handled by the pharmaceutical sector. In the last 20 years, the market has grown significantly, and in 2022, total pharma revenues reached USD 1.42 trillion. It is growing with a CAGR of 11.5%.

Flow Cytometry Products Market Opportunities:

1. Growing market presence in the developing countries: Major companies in the flow cytometry market have numerous opportunities for growth in nations like China, Japan, India, and South Korea. The growth of research initiatives across important nations, the absence of significant regulatory obstacles, the ongoing development of healthcare infrastructures, the rise in patient numbers and costs, and the growth of market leaders' distribution networks in these areas are all factors that contribute to these growth opportunities.

Additionally, because there are fewer strict laws and data requirements in the Asia Pacific region, regulatory policies there are more flexible and business-friendly. This has further compelled major market players to concentrate on emerging nations combined with rising rivalry in mature markets.

Flow Cytometry Products Market Restraints:

1. High Product Cost: Important factor impeding the market's growth is the high cost of flow cytometry products. Most end customers, including clinical laboratories, large research institutions, and pharmaceutical firms, need a lot of flow cytometry equipment to do several research projects at once.

As a result, the capital cost related to the purchase and upkeep of these devices increases significantly. Budget constraints make it difficult for academic and research laboratories to purchase such tools.

For a four- to six-color and two-laser device, these instruments cost close to USD 75,000 to USD 100,000, which is a significant financial burden for small- and medium-sized hospitals and diagnostic laboratories in developing economies.

Two-laser, a six-color instrument from Thermo Fisher Scientific, costs USD 99,000 in the United States. Therefore, it is expected that the high cost of equipment will reduce the market for improved flow cytometers.

2. High Maintenance Cost: The total cost of ownership of these instruments also rises as a result of maintenance charges and several other indirect expenses. Therefore, expensive product installation costs and other related factors impede the best use of flow cytometry instruments in clinical and research settings, particularly in developing countries.

In addition, flow cytometry devices are expensive since they include sophisticated features and functions. Cell sorters using flow cytometry are much more expensive than cell analyzers.
Flow Cytometry Products Market Segment Analysis:
Based on Product, the Flow Cytometry Products Market is segmented into Instruments, Reagents & Consumables, Software, Accessories, and Services. The instruments category dominated the flow cytometry product market in 2022, accounting for the biggest revenue share of 37%, and is expected to continue to hold this position through the forecast period.

This high share is due to recent technological developments and the innovation of new cytometers by significant players. The high cost of these devices is another factor in this segment's high-income creation.

Due to their growing use in diagnostics and research, the reagents and consumables category also maintained a sizable revenue share in the market for flow cytometry. The market is expected to grow profitably during the expected period.

By helping customers in research laboratories and small laboratories, the development of multiplex probes and reagents for specialized applications in diagnostics and drug discovery is expected to create growth potential. In addition, it is expected that the software segment will grow at the fastest rate through the forecast period due to the introduction of new software platforms that enable automation in research activities.

The demand for software in the medical sector is increasing as technology develops. The growing desire to view the cells and study them simultaneously during the analysis is the reason for the rising need for cutting-edge software that can be employed with these devices. The software segment is expected to grow at a CAGR of 6.5% through the forecast period.



Based on the Application, the Flow Cytometry Products Market is segmented into Research, Clinical Diagnosis, and Industrial. The research sector has dominated the segment with a 49.5% share, and it will continue to dominate the market through the forecast period. The rise in R&D efforts for infectious diseases like COVID-19 and cancer can be credited for this high share.

Discovering and developing new drugs is exceedingly difficult, time-consuming, and expensive. For a medication safety assessment with several advantages for biomedical research, flow cytometry products have been utilized as a method to discover and characterize drug-induced toxicity in animal models and cell culture systems.

In tissue samples or cultured cells, flow cytometry products enable the evaluation of acute or subacute toxic effects as well as the detection of malignant, mutational, and cancer-causing effects. These tools are used to create homogenous or dissociated single-cell suspensions of tissue samples, enabling the investigation of the preclinical toxicity of medicines on any tissue sample.

Additionally, it is expected that rising R&D expenditures in the pharmaceutical and biotechnology sectors will drive market growth.

By End-use, the Flow Cytometry Products Market is segmented into Hospitals, Academic Institutes, Commercial organizations, and Clinical Testing Labs. With a 39% revenue share, the commercial organization category dominated the flow cytometry product market.

Increased R&D efforts by commercial entities like pharmaceutical and biotechnology firms are credited with this supremacy. Additionally, it is expected that the market would grow because of the rising food businesses in developing nations like China and India.
Flow Cytometry Products Market Regional Insights:
The North America region dominated the market with a 41% share in 2022. The North America region is expected to witness significant growth at a CAGR of 8.1% through the forecast period. The dominance of North America in this market is mostly due to important players in the sector, rising R&D spending, and federal support in the area. There is a great need for flow cytometry products for research needs due to the developed pharmaceutical market, considerable research efforts by research universities, and pharmaceutical businesses.

Asia is expected to have rapid growth, with a remarkable 14% CAGR through the forecast period. By 2029, it's expected that the market for flow cytometry products would be worth USD 3.1 billion. The significant growth of the pharmaceutical and biotechnology sectors in developing nations like China and India is responsible for this tremendous growth of the Flow cytometry products market. The lucrative development of this region is also a result of ongoing government assistance with the development of the pharmaceutical sector in developing nations. Pharmaceutical businesses are making investments in the local flow cytometry product market because of advancements in healthcare infrastructure, particularly in China and India.

Additionally, increasing potential prospects are being brought about by the rising prevalence of hematological and immunological illnesses. The prevalence of autoimmune disorders has significantly grown, and 75% of those affected are female. Therefore, flow cytometry is increasing in the area to stop further decline.

The objective of the report is to present a comprehensive analysis of the global Flow Cytometry Products Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Flow Cytometry Products Market dynamic, and structure by analyzing the market segments and projecting the Flow Cytometry Products Market size. Clear representation of competitive analysis of key players by Product type, price, financial position, product portfolio, growth strategies, and regional presence in the Flow Cytometry Products Market make the report investor’s guide.
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Flow Cytometry Products Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 7.31 Bn.


Forecast Period 2023 to 2029 CAGR:
9.2%
Market Size in 2029:
US$ 13.54 Bn.


 Segments Covered:
by Product
Instruments
Reagents & Consumables
Software
Accessories and Services


by Application
Research
Clinical Diagnosis
Industrial


by End-Use
Hospitals
Academic Institutes
Commercial Organization
Clinical Testing Labs



Flow Cytometry Products Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Flow Cytometry Products Market Key Players:
1. Becton Dickinson and Company (US)
2. Danaher Corporation (US)
3. Thermo Fisher Scientific, Inc. (US)
4. Agilent Technologies, Inc. (US)
5. Luminex Corporation (US)
6. Bio-Rad Laboratories, Inc. (US)
7. Miltenyi Biotec (Germany)
8. Sysmex Corporation (Japan)
9. Stratedigm, Inc. (US)
10. Apogee Flow Systems Ltd. (UK)
11. Sony Biotechnology, Inc. (US)
12. Enzo Life Sciences, Inc (US)
13. Merck KGaA (Germany)

Frequently Asked Questions:

1] What segments are covered in the Global Flow Cytometry Products Market report?
Ans. The segments covered in the Flow Cytometry Products Market report are based on Product, Application, and End User.

2] Which region is expected to hold the highest share in the Global Flow Cytometry Products Market?
Ans. The North America region is expected to hold the highest share in the Flow Cytometry Products Market.

3] What is the market size of the Global Flow Cytometry Products Market by 2029?
Ans. The market size of the Flow Cytometry Products Market by 2029 is expected to reach US$ 13.54 Bn.

4] What is the forecast period for the Global Flow Cytometry Products Market?
Ans. The forecast period for the Flow Cytometry Products Market is 2023-2029.

5] What was the market size of the Global Flow Cytometry Products Market in 2022?
Ans. The market size of the Flow Cytometry Products Market in 2022 was valued at US$ 7.31 Bn.