The global Flow Cytometry Market is estimated to be valued at US$ 6280.32 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Flow cytometry is a technique used to detect and measure physical and chemical characteristics of a population of cells or particles. This technique employs the use of laser or luminescence to interrogate and obtain multiple parameters from thousands of cells per second. Flow cytometry allows for fast, quantitative analysis and multiparametric analysis of cells and particles. Key parameters that can be analyzed using flow cytometry include size, granularity, and presence or quantity of cell surface markers or intracellular proteins. Flow cytometry is widely used in research, clinical, and industrial applications such as cancer, stem cell research, organ transplantation, and hematology.
Market key trends:
One of the key trends in the flow cytometry market is the development of nanoparticle-based cell detection technologies. Nanoparticles such as quantum dots (QDs) are being incorporated into assays and conjugated with antibodies to detect and quantify cell surface markers and intracellular biomolecules. This allows for better separation and quantification of biomarkers. Additionally, the development of multi-colored panels and advanced software is allowing researchers to handle large datasets generated from high-parameter flow cytometry experiments. Technological advancements such as mass cytometry, imaging flow cytometry are also fueling the adoption of flow cytometry across various end-users. Growing stem cell and cancer research will also continue to drive market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The flow cytometry market faces low threat from new entrants due to huge capital investment requirements and presence of established brands.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of alternatives and differentiated needs of buyers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitute components.
Threat of new substitutes: Threat from new substitutes is low to moderate, as new technologies can replace existing flow cytometry instruments.
Competitive rivalry: Intense competitive rivalry exists in the flow cytometry market due to the presence of established global players.
Key Takeaways
he Global Flow Cytometry Market Size is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing adoption of flow cytometry techniques in research and academics. The market size for 2023 is estimated to be US$ 6280.32 Mn.
Regional analysis: North America dominates the global flow cytometry market and is expected to continue its dominance over the forecast period. This is attributed to the presence of major players and availability of technologically advanced healthcare infrastructure in the region. Asia Pacific is expected to exhibit the fastest growth during the analysis period owing to rising R&D expenditure and increasing awareness regarding flow cytometry.
Key players operating in the flow cytometry market are General Electric, BD, Luminex Corporation, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Miltenyi Biotec GmbH., Sysmex Corporation, Agilent Technologies, Inc., Danaher, Enzo Life Sciences, Inc., Cytek Biosciences, Sartorius AG, BioLegend, Inc., Beckman Coulter, Inc., Laboratory Corporation of America Holdings., and MilliporeSigma. Key players are focusing on new product launches and mergers & acquisitions to strengthen their market position. For instance, in 2021, Sartorius acquired cell therapy company Xell AG to expand its portfolio of cell analysis technologies
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
