The global flow cytometry market size was exhibited at USD 4.6 billion in 2022 and is expected to hit around USD 10.26 billion by 2032, poised to reach a CAGR of 8.4% during the forecast period 2023 to 2032.
The flow cytometry market share would increase as more people contract diseases like cancer and HIV. However, issues including expensive instrument and reagent costs, a lack of awareness among prospective end users, and a shortage of technical know-how are anticipated to restrain market expansion. The preference for ow cytometry in drug research, development, and diagnostics is anticipated to provide the market potential for ow cytometry.
The rising incidence of cancer and HIV/AIDS, the growing use of flow cytometry techniques in research, the expansion of public-private initiatives in immunology and immuno-oncology research, and the development of flow cytometry software are all major factors in the growth of the flow cytometry market.
Some of the main factors driving the growth of the flow cytometry market are the rapid advancements in technology, the rise in chronic diseases that call for validation testing, and the demand for precise and delicate methods for disease validation. In order to forecast the consequences of immunotherapy, researchers are increasingly adopting flow cytometry to subjectively and quantitatively study peripheral blood cells. High resolution, increased effectiveness, and the development of effective statistical platforms are the main factors influencing the flow cytometry industry.
Report Scope of the Flow Cytometry Market
|Market Size in 2023||USD 4.96 Billion|
|Market Size by 2032||USD 10.26 Billion|
|Growth Rate from 2023 to 2032||CAGR of 8.4%|
|Forecast Period||2023 to 2032|
Key Market Drivers
Studies into immunology and immuno-oncology are receiving more attention
The increasing number of HIV cases
Key Market Challenges
Key Market Opportunities
The market observed substantial growth in the bioengineering segment
Increased use of flow cytometry methods in academic and research settings
The instruments segment led the flow cytometry market in 2022, accounting for the biggest revenue share of 35.9%. It is anticipated that this segment will continue to dominate the market during the forecast period. This high proportion is credited to recent technological developments and the introduction of innovative cytometers by significant players. The high cost of these devices is another factor in this segment's strong income creation.
The market for flow cytometry was led by the cell-based category, which in 2022 had the highest revenue share (76.9%). Its biggest proportion is driven by rising interest in early diagnosis and expanding knowledge of the advantages of cell-based tests. Additionally, it is projected that improvements in cell-based assay technology, including innovation in tools, labels, affinity reagents, software, and algorithms, will spur usage in the upcoming years.
Infectious illness research uses tests using beads. Due to developments in molecular engineering and monoclonal antibody manufacturing and the benefits they bring, such as cost-effectiveness, a low sample need, and quick turnaround times, the market for these assays is anticipated to expand profitably throughout the projection period. These tests, also known as indirect or sandwich immunoassay formats are used to gauge the number of antibodies present in biological fluids. In these assays, conjugated antigen molecules are coated on beads to assess the presence of antibodies in the fluid.
With a market share of 49.9% in 2022, the research sector led the industry. It is predicted that this dominance will continue during the forecast period. The rise in R&D efforts for infectious illnesses like COVID-19 and cancer can be blamed for this high percentage. Additionally, it is anticipated that rising R&D expenditures in the pharmaceutical and biotechnology sectors would foster market expansion.
Due to the rising need for affordable illness diagnosis and the benefits of flow cytometry in disease detection, such as quicker and more precise findings, the clinical diagnostic market is predicted to develop at the quickest rate. The launch of innovative flow cytometry technologies for clinical applications and ongoing organic expansion strategies by leading companies are also projected to considerably help segment growth. For instance, in April 2019, the Chinese FDA approved the use of Cytek Biosciences' new flow cytometer, DxP Athena, which is intended for clinical diagnostic applications in labs, hospitals, and clinics.
With a 40% revenue share in 2022, the commercial organization sector led the flow cytometry market.
Additionally, it is projected that there will be a significant increase in demand for flow cytometry solutions due to commercial companies' increased research efforts to discover efficient therapies for fatal diseases like cancer. On the other hand, due to the rising need for affordable detection of target diseases like cancer, the hospitals, and clinical testing labs segment is predicted to have profitable growth.
Flow Cytometry Market Share, By Region, 2022 (%)
|Regions||Revenue Share in 2022 (%)|
The Flow Cytometry market is divided into five geographic regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The largest percentage was held by North America, followed by Europe. With significant adoption of flow cytometry technology among important end users, the North American market is mature. However, due to the growing range of clinical contexts where flow cytometry is being used, this industry is still anticipated to present significant growth prospects.
Key Market Players
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