Name: Flow Cytometry Market Size, Share, Trends and Growth Report – Global Opportunities &amp; Forecast, 2023-2030
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Flow Cytometry Market Size, Share, Trends and Growth Report – Global Opportunities & Forecast, 2023-2030

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GMI Research analysis indicates that the Flow Cytometry Market size was estimated at USD 4.5 billion in 2022 and is slated to register a single digit CAGR of 7.9% over the forecast period, and is projected to reach USD 8.3 billion in 2030.

Flow Cytometry Market

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Major Flow Cytometry Market Drivers

The global flow cytometry market is predicted to be propelled due to a significant rise in the occurrence of chronic diseases, growth in technological innovations, considerable growth in need for flow cytometry in medical diagnostics, coupled with a rise in the requirement for customized medicine and establishment of technological flow cytometry consumables and equipment. The global market is witnessing growth due to the growing utilization of flow cytometry in research of stem cells and expanding applications of flow cytometry in clinical research, coupled with the growing adoption of inorganic strategies, including product launches and new product development by market players. In 2022, the International Journal of Laboratory Haematology released an article highlighting that flow cytometry serves as a method employed around different insights to analyze the attributes of a mixed cell population from peripheral blood, solid tissues, and bone marrow, which can be disaggregated into single cells for in-depth examination. This application of flow cytometry is predicted to propel market growth during the forecast period. Additionally, in 2022, BD a medical technology company, discovered an innovative flow cytometry system designed to sort cells reliant on their internal functions. This system is capable of characterizing and sorting the diverse cells constituting the human body. Its objective is to profile individual cells by both visual characteristics and different protein biomarkers, accomplishing a rate of up to 15,000 cells per second.

In 2021, Pfizer Inc. committed a USD 120 million investment through the Pfizer Breakthrough Growth Initiative to aid biotechnology innovation. These investments have propelled a robust research and development infrastructure in biotechnology, clinical, life sciences, and biopharmaceuticals. Subsequently, this is predicted to develop research and development efforts in cell analysis, specifically in the kingdom of new drug discovery and advancement activities using flow cytometry approaches. Additionally, innovations in the latest flow cytometry instrumentation are propelling advancements in productivity, cost-effectiveness, and accuracy. These technological advancements are predicted to introduce new growth opportunities for the industry.

The growing incidences and frequent occurrence of chronic diseases are predicted to drive market growth, with a specific emphasis on cytometry devices. The growth in disease occurrences has prompted significant investments in research and development by different companies, introducing a substantial need for innovations in accurate and quick disease diagnosis approaches. For instance, a World Health Organization report stated that cancer developed as the prominent cause of death during 2020 totalling nearly 10 million deaths. This, in turn, is predicted to raises the need for the flow cytometry market share globally.

In addition, the incorporation of progressed technologies such as nanotechnology, spectral flow cytometry, and microfluidics has enhanced the sensitivity, precision, and speed of flow cytometry. Microfluidics systems have enabled the analysis of rare cell populations, including single cells, confirming invaluable in fields such as cancer research where the recognition of the smallest residual disease is crucial. For instance, advanced microfluidics offers BactoSense, a fully automated microfluidic-scale floe cytometer. This technological innovation in flow cytometry is predicted to be a foremost driver for market growth.

While, the global market growth of flow cytometers may face hindrances in the forecast period due to challenges including lack of awareness and high costs concerning technical expertise, despite the extensive clinical and research applications of this technology. The luxuriousness of flow cytometers poses a challenge, specifically for emerging economies that may find it difficult to afford these technologically improved instruments. Despite their improvements, flow cytometers tend to be more luxurious when compared to substitutes such as enzyme-linked immunosorbent assay, and radioimmunoassay. The financial load of small and medium-sized healthcare institutes and diagnostic laboratories in developing economies is evident, with the cost of flow cytometers changing between USD 75,000 and USD 100,000 for a four-to-six-color and two-laser instrument. In addition, complications linked with flow cytometers, including mechanical complexity, large size, and the necessity for highly qualified personnel, have limited the utility of these instruments, subsequently limiting the market development in the forecast duration. The limitations linked to flow cytometer technology, coupled with the high costs, are factors that have the potential to limit the market in the forecast duration.

Whereas, the growing adoption of flow cytometry approaches in pharmaceutical companies for different stages of drug discovery and advancement, including lead compound screening, immunogenicity testing, target identification, and toxicity assessment, is predicted to lead the significant market growth. Moreover, the growing automation levels of these systems and the rising need for point-of-care diagnostics are propelling the development of the market. The high rise in the need for precise cellular analysis, developing research locations, and the rising prevalence of infectious diseases, among other drivers are estimated to increase the rate of product development and adoption rate.

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By Application, Stem Cell Therapy Segment Registered the Largest Market Share in the Global Flow Cytometry Market

Stem cell therapy is anticipated to play a significant role in the market, with flow cytometry being instrumental in locating, isolating, and characterizing stem cells for research and different applications. Its ability to swiftly deliver qualitative measurements on individual cells within a different cell population makes it specifically valuable in this context. Although, the significant role of the flow cytometry in diagnosing and recognizing early signs of different diseases contributes substantially to its considerable market share. The growth of the stem cell research segment, the application of recombinant DNA technology for antibody production, and developments in tandem flow cytometry machinery are predicted factors that will aid foremost market players in the flow cytometry market to develop. Additionally, in 2021, the surge in stem cell therapy research is evident, with nearly 320 registered clinical trials in different phases of advancement connected to stem cell therapy across Germany, as stated by the National Clinical Trial Registry. This growth in stem cell therapy segment is estimated to be propelled by a significant growth in demand for flow cytometry in the forecast period.

Flow Cytometry Market

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By Region, North America Region Registered the Largest Revenue Share in the Global Market

The North America region dominated the market due to the great surge in healthcare expenditure, high adoption rate of scientifically developed flow cytometry solution, and advanced and high-tech healthcare infrastructure around the U.S. Additionally, the market in North America is witnessing growth due to the growing number of research and development projects. In 2021, the University of North Dakota updated that, in host-pathogen interactions, the UND Center of Biomedical Research Excellence announced that spending from the National Institutes of Health will persist through Phase 2 of the project. The renewal of USD 10.7 million funding is focused on assisting researchers in delving deeper into understanding how the body responds to bacterial, viral, and parasitic infections, which can lead to both long as well and short-term inflammatory disorders. The support of the Center for three Phase 1 central facilities, including flow cytometry, is predicted to facilitate more innovative research at the School of Medicine and Health Science and the University of North Dakota. These advancements are predicted to lead to the growth of market in the U.S.

Flow Cytometry Market

Top Market Players

Various notable players operating in the market include Becton, Dickinson and Company, Danaher Corporation, Stratedigm Inc., Bio-Rad Laboratories Inc., Luminex Corporation, Miltenyi Biotech, Sysmex Corporation, Agilent Technologies, ThermoFisher Scientific, Sony Biotechnology Inc among others.

Key Developments

- In 2023, BD launched a new automated instrument i.e., a new robotic system to prepare samples for medical diagnostics utilizing flow cytometry which further develops reproducibility and standardization in cellular diagnostics.
- In 2023, BD Life Sciences joined hands with Sehgal Path Lab to launch its CoE in Flow Cytometry for medical research across Mumbai to be cautious and consider standardization and relevant exercises in medical flow cytometry.
- In 2023, FlowMetric announced a collaboration with Cytech Biosciences to integrate the next-generation flow cytometry technology to maintain the track record of delivering industry-leading services concerning cytometry services.
- In 2022, BD signed an contract with Labcorp to bring abilities that entail end-to-end services for companion diagnostics expected to coordinate patients with life-changing cures or treatments for a number of cancer types and several other diseases.

Segments covered in the Report:

The Global Flow Cytometry Market has been segmented on the basis of Product Type, Technology, Application and End-User. Based on the Product Type, the market is segmented into Instrument, Kit and Reagent, Software and Services. Based on the Technology, the market is segmented into Cell-based Flow Cytometry and Bead-based Flow Cytometry. Based on the Application, the market is segmented into Oncology, Drug Discovery, Stem Cell Therapy, Organ Transplantation, Hematology and Other Applications. Based on the End-User, the market is segmented into Hospitals and Clinics, Academia and Research Institutes, Pharmaceutical and Biotechnology Companies

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Report Coverage	Details
Market Revenues (2022)	USD 4.5 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Product Type, By Technology, By Application, By End-User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Becton, Dickinson and Company, Danaher Corporation, Stratedigm Inc., Bio-Rad Laboratories Inc., Luminex Corporation, Miltenyi Biotech, Sysmex Corporation, Agilent Technologies, ThermoFisher Scientific, Sony Biotechnology Inc among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation