Flow Cytometry Market Revenue to Witness Steady Growth Through 2022 – 2031
Increased adoption of flow cytometry is an important development in the field of cell biology. Flow cytometry is a widely accepted method in detecting cancers, cell signaling, tumor characterization, fluorescent protein detection and protein-protein interaction. Moreover, flow cytometry is being increasingly used in stem-cell research where scientists examine cell conversions.
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On the back of the aforementioned factors, the global flow cytometry market is set to get leveraged in the future. A staggering CAGR of 11.4% is projected for the forecast period 2020-2025, and the market is anticipated to surpass a valuation of US$ 8,119.6 Mn by the end of the forecast period.
Key Takeaways of Global Flow Cytometry Market Study
- Cell-based flow cytometry shall dominate the flow cytometry market, projected to account for three-fifth of the total market during the forecast period. The ease of developing models of interconnected cellular pathways for scientists is a major driver behind the segment’s growth.
- Products & Services-wise, the flow cytometry instruments shall constitute a major chunk of the flow cytometry market. Projections indicate a market share of around 40% for flow cytometry instruments between 2020 and 2025. Greater usage of advanced flow cytometry instruments in novel drug discovery is boosting the market.
- Pharmaceutical and drug discoveries shall find maximum application of flow cytometry in the future. This is attributed to increased research and development activities by major pharmaceutical companies for therapeutic drug development. The segment is anticipated to hold a market share of around 45% during the forecast period.
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- Academic & Research Institutions are expected to find maximum usage of flow cytometry. The segment is expected to grow staggeringly at a CAGR of 11.6% during the forecast period. Increased research for novelty, efficacy, toxicity and safety of medicines are major drivers for the growth of this segment.
- North America shall dominate the global flow cytometry market during the forecast period, accounting for more than one-third of the total flow cytometry market. Government campaigns to increase awareness about chronic diseases and increased research and development are factors augmenting the market growth in the region.
- However, Asia-Pacific is expected to register stellar growth during the forecast period, expanding at a CAGR of 14%. A burgeoning pharmaceutical industry, development of new biologics, vaccines and drugs are expected to leverage future growth of the flow cytometry market.
“The global flow cytometry market shows immense potential for future growth. The widespread application of flow cytometry in important life science disciplines such as cancer detection and stem cell research is expected to boost the global flow cytometry market’s prospects in the future”, concludes a Fact.MR analyst.
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Acquisitions to Supplement Market Growth
The global flow cytometry market is dominated by the following players: Becton Dickinson & Company, Merck & Co., Inc., Beckman Coulter, Inc., Thermo Fisher Scientific Inc., SYSMEX CORPORATION, Alere Inc., Miltenyi Biotec, Bio-Techne, Agilent Technologies, Inc. & Bio-Rad Laboratories, Inc. Merck & Co. who constitute the maximum share of the market. The company invests in acquisitions that provide opportunities to supplement organic growth and strengthen product portfolios. Another player, Benton Dickinson and Company, offers Flow Cytometry Instruments, Software, Antibodies and Instruments. These products include BD FACSVerse, BDFACSCelesta and BD LSRFortessa. The company is a leading manufacturer and supplier of flow cytometry devices, antibodies and software.
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