Flow Cytometry Market Growing at a CAGR of 8.1% – Research Provides Detailed Analysis of Trends, Growth and Forecast
The Flow Cytometry Market is projected to reach USD 6.3 billion by 2026 from USD 4.3 billion in 2021, at a CAGR of 8.1%.
Growing adoption of flow cytometry techniques in research and academia;
The Growth in the flow cytometry market is largely driven by the rising global incidence and prevalence of HIV/AIDS and cancer, growing adoption of flow cytometry techniques in research and academia, growing public-private initiatives in the fields of immunology and immuno-oncology research, technological advancements, increasing incorporation of AI platforms in flow cytometry workflows, and increasing advancements in flow cytometry software. However, the high cost of flow cytometry products is a major factor hampering the growth of the market.
Flow cytometry has emerged as a key tool for safety and exploratory purposes during the drug discovery and development processes. This tool is used right from pre-clinical trials to target identification and screening. Flow cytometry can analyze a large number of particles in a short period and provide statistically robust information about cell populations. These abilities, coupled with its multi-parametric approach, facilitate the adoption of flow cytometry in drug discovery and development processes in the pharmaceutical and biopharmaceutical industries.
Moreover, biomarker research has become an integral part of drug discovery and development. It provides valuable evidence to guide clinical decisions, assesses the pharmacodynamics of drugs, and supports drug filings with regulatory bodies. This also increases the market value and acceleration process of a drug. Flow cytometry is widely used in biomarker research to monitor the development and differentiation of cell populations, evaluate target engagement and biomarker expression in cells, and assess cell functions and signaling events.
A significant number of clinical trials are being conducted across the globe to develop novel therapeutics to address the rising disease burden. The growing number of clinical trials is augmented by public and private funding for various clinical trial projects. For instance,
– In March 2021, Campus Bio Medico University and Teaching Hospital (Italy) has initiated a study, Flow Cytometry Analysis of Eosinophils in Severe Asthma Patients.
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The Growth in the flow cytometry market is largely driven by the rising global incidence and prevalence of HIV/AIDS and cancer, growing adoption of flow cytometry techniques in research and academia, growing public-private initiatives in the fields of immunology and immuno-oncology research, technological advancements, increasing incorporation of AI platforms in flow cytometry workflows, and increasing advancements in flow cytometry software. However, the high cost of flow cytometry products is a major factor hampering the growth of the market.
The bead-based flow cytometry segment is expected to grow at the highest CAGR during the forecast period
On the basis of technology, the global flow cytometry market is segmented into cell-based and bead-based flow cytometry. The bead-based flow cytometry segment is estimated to witness the highest growth during the forecast period. This technology offers various procedural advantages over other cell-based assays, such as the capacity to detect multiple analytes (also known as multiplexing), high reproducibility, stability, and speed.
Cancer diagnostic segment hold the largest share of the flow cytometry for clinical application market in 2020
In this report, the flow cytometry market for clinical applications is segmented into organ & tissue transplantations, cancer diagnostics, immunodeficiency diseases, hematology, and other clinical applications. Flow cytometry can be applied to cancer studies at every stage by measuring the amount of DNA in cancer cells, analyzing tumor cell proliferation, and immunophenotyping hematological malignancies. In addition, flow cytometry tools are used to determine the malignancy of a tumor by analyzing and enumerating a number of chromosomes and can thus be used to detect cancerous cells.
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The Asia Pacific region is the fastest-growing region of the flow cytometry market in 2020.
In 2020, the Asia Pacific region accounted for the fasted growing region of the market. The APAC market is expected to offer significant growth opportunities to key market players during the forecast period. Countries in this region are witnessing sustained growth in their GDPs and the disposable incomes of their middle-class population. This is expected to replicate into growth in healthcare spending, research infrastructure modernization, and increased penetration of advanced technologies (including advanced flow cytometry technologies) for research and clinical applications.
The major players operating in the flow cytometry market are Becton, Dickinson and Company (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Luminex Corporation (US), Agilent Technologies, Inc. (US), Sony Group Corporation (Japan), Bio-Rad Laboratories, Inc. (US), Miltenyi Biotec GmbH (Germany), Enzo Biochem, Inc. (US), Sysmex Corporation (Japan), bioMérieux S.A. (France), Cytonome/ ST, LLC (US), Sartorius AG (Germany), Cytek Biosciences, Inc. (US), Union Biometrica, Inc. (US), Apogee Flow Systems Ltd. (UK), Stratedigm, Inc. (US), NanoCellect Biomedical, Inc. (US), On-chip Biotechnologies, Co., Ltd. (Japan), NEXCELOM BIOSCIENCE LLC (US), BennuBio Inc. (US), ORFLO Technologies (US), Bay Biosciences Co., Ltd. (Japan), BioLegend, Inc. (US), and CytoBuoy B.V (Netherlands).
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