Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Flow Cytometry Market by Technology (Cell-based, Bead-based), Product & Service (Analyzer, Sorter, Consumables, Software), Application ((Research - Immunology, Stem cell), (Clinical - Hematology)), End User & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global flow cytometry market is projected to reach USD 7.0 billion by 2028 from USD 4.7 billion in 2023, at a CAGR of 8.3% during the forecast period. The rising prevalence of HIV/AIDS, cancer & autoimmune diseases globally is rising adoption of flow cytometry for clinical applications are some of the major factors projecting segmental growth. Additionally, the launch of technologically advanced flow cytometry products by key market players is furthermore likely to propel the market growth. In November 2021, Bio-Rad Laboratories, Inc. (US) launched StarBright UltraViolet 400 Dye, fluorescent nanoparticles designed for use with a UV laser in flow cytometry applications.
Cell-based flow cytometry is anticipated to grow at a significant CAGR during the forecast period of 2023-2028.
Based on the technology, the flow cytometry market is cell-based and bead-based flow cytometry. Cell-based flow cytometry segment dominated the market in 2022. The dominance is attributable to the presence of technologically advanced cell-based flow cytometry products. Bead-based flow cytometry is likely to grow at a significant pace in the coming years. The rising adoption of bead-based flow cytometry and the strong emphasis of key market players on the launch of beas-based flow cytometers are likely to have a positive impact on the market growth.
Research applications segment dominated the market in 2022.
Based on the end user, the flow cytometry market is segmented into research applications, clinical applications, and industrial applications. The research application dominated the segment. However, clinical application is anticipated to grow at a significant CAGR during the forecast period. Industry-academia collaborations for clinical and research application is likely to impact positively on the market. For instance, in March 2023, BD and Agency for Science, Technology, and Research (A*STAR), Singapore, extended a research partnership that will help focus on deep immunophenotyping of human tissues using spectral flow cytometry panels to bring forth discoveries that can be translated into positive healthcare outcomes.
North America held the dominant share in 2022.
Geographically, the flow cytometry market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2022, North America accounted for the major share of the flow cytometry market. The dominance of the North American region is owing to various factors, such as the presence of key market players in the region and the increased adoption of flow cytometry in research applications in the region. Asia Pacific is expected to grow at a faster pace due to a rise in funding for research and the increased focus on stem cell and clinical research.
Research Coverage:
This report provides a detailed picture of the flow cytometry market. It aims at estimating the size and future growth potential of the market across different segments such as technology, product & services, application, end user, and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
The global flow cytometry market is projected to reach USD 7,001.8 million by 2028 from USD 4,705.1 million in 2023, at a CAGR of 8.3% during the forecast period. Growth in this market is mainly driven by the rising incidence of HIV/AIDS and cancer, wide applications in research for drug discovery & development, use of flow cytometry in regenerative medicine, growing public-private initiatives in immunology and immuno-oncology research, and rising technological advancements in flow cytometry instruments. However, high product pricing and complexities related to reagent development are factors expected to restrain the market growth to a certain extent during the forecast period.
Premium Insights
- Flow Cytometry Market Overview
- North America: Flow Cytometry Market, by Product & Service and Country
- Flow Cytometry Market Share, by Technology, 2023 Vs. 2028
- Flow Cytometry Market Share, by End-user
- Flow Cytometry Market: Geographical Growth Opportunities
Market Dynamics
Drivers
- Rising Incidence of Hiv/Aids and Cancer
- Wide Applications in Research for Drug Discovery & Development
- Use of Flow Cytometry in Regenerative Medicine
- Growing Public-Private Initiatives in Immunology and Immuno-Oncology Research
- Technological Advancements in Flow Cytometry Instruments
Restraints
- High Product Pricing
Opportunities
- High Growth Potential in Emerging Economies
- Rising Focus on Stem Cell Research
- Uptake of Recombinant DNA technology for Antibody Production
Challenges
- Complexities Related to Reagent Development
- Shortage of Skilled Professionals
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 319 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $4.7 Billion |
| Forecasted Market Value (USD) by 2028 | $7 Billion |
| Compound Annual Growth Rate | 8.3% |
| Regions Covered | Global |
Companies Mentioned
- Agilent Technologies, Inc.
- Apogee Flow Systems Ltd.
- Bay Biosciences LLC.
- BD
- Bennubio, Inc.
- Bio-Rad Laboratories, Inc.
- Biolegend, Inc.
- Biomerieux
- Cytek Biosciences
- Cytobuoy B.V.
- Cytonome/St, LLC.
- Danaher Corporation
- Enzo Biochem, Inc.
- Luminex Corporation (A Diasorin Company)
- Miltenyi Biotec
- Nanocellect Biomedical, Inc.
- Nexcelom Bioscience LLC.
- On-Chip Biotechnologies Co. Ltd.
- Orflo Technologies
- Sartorius AG
- Sony Biotechnology Inc. (Subsidiary of Sony Corporation)
- Stratedigm, Inc.
- Sysmex Corporation
- Thermo Fisher Scientific, Inc.
- Union Biometrica, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/elthoc
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