Flow Cytometry Market Analysis

Flow Cytometry Market Analysis

Based on products and services, the flow cytometry market is categorized into reagents and consumables, instruments, software, services, and accessories. The instrument segment accounted around USD 1.6 billion in 2022. The high growth rate is owing to wide application range, technological advancements, and increased research spending by multinational companies. Additionally, the compact or small-sized cytometers are predicted to witness healthy growth in coming years owing to cost-effectiveness and user-friendliness of the devices.

Based on technology, the flow cytometry market is segmented into bead-based and cell-based segments. The cell-based segment accounted for dominating revenue share in 2022 and is expected to reach around USD 8.5 billion by 2032. Growing demand for early diagnosis of several diseases including HIV and cancer, rise in adoption of cell-based systems and increase in awareness related to benefits associated with cell-based assays are key pointers adding to market growth. However, robust application range including biomedical research and increase in usage of these systems in monitoring the progress of drug treatment are other factors that are contributing to its dominance.

Based on application, the flow cytometry market is categorized into immunophenotyping, cell sorting, cell counting, cell cycle analysis, and others. The immunophenotyping segment exceeded USD 1.8 billion in 2022. Immunophenotyping is a process that uses antibodies to distinguish and identify cells based on different types of markers and antigens that are present on their surface. The high growth is attributed to increased use of this technique in numerous research activities including diagnosis of different diseases such as oncology, inherited immunodeficiencies, esoteric testing, and certain variants of leukemia and lymphoma among others.
 

Based on usage, the flow cytometry market is categorized into research, clinical and industrial segments. The clinical segment is set to reach USD 4.6 billion by 2032. High segmental share is primarily attributed to rise in R&D activities related to cancer and various infectious diseases such as SARS-CoV-2 (coronavirus). Further, novel product launches incorporating technological advancements is among the key strategy adopted by industry players to augment the product adoption rate. Thus, improved product offering, shorter turnaround time, and advancements in monoclonal antibody production will further aid in diagnosis of autoimmune disease and organ transplantation conditions.

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Based on end-use, the flow cytometry market is bifurcated into commercial organizations, hospitals, academic and research institutes, and clinical testing labs. The academic and research institutes segment accounted for major share in 2022 and is projected to reach around USD 3.5 billion by 2032. This technology helps in understanding the physical and chemical properties of the cells. Hence, increased R&D spending on research pertaining to various fields including marine biology, pathology, immunology and molecular biology among others is contributing to higher adoption of flow cytometry in educational and research activities.

North America flow cytometry market is expected to grow at 7.8% CAGR through 2032. The high regional growth is attributed to expanding application prospect of flow cytometry in clinical settings, high disease burden rate, technological advancements, and increased R&D spending, among others. Facilitative government support via grants, favorable business environment, presence of large number of contract research organizations and established players are other attributes that are anticipated to propel the market growth. Moreover, the region is home to high incidence and prevalence of cancer patients that makes it mandatory for pharma companies to focus on development of better treatment options for different target diseases.