Flow Cytometry Market: Asia Pacific Is Projected To Exhibit Exponential Growth During The Forecast Period

 Flow Cytometry Industry Overview

The global flow cytometry market size is expected to reach a value of USD 11.5 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.9% from 2021 to 2027. The high prevalence of chronic diseases, the introduction of technologically advanced flow cytometry solutions, and increasing R&D investments in the pharmaceutical industry are expected to propel market growth over the forecast period.

 

Increasing regulatory approval and the introduction of technologically advanced flow cytometry solutions are expected to facilitate market growth over the forecast period. For instance, in June 2020, Sysmex Corporation launched the XF-1600 flow cytometer for laboratories, in North America. Also, in January 2019, Beckman Coulter, a subsidiary of Danaher Corporation, expanded its clinical flow cytometry portfolio with the launch of its new ClearLLab 10C System. This newly launched integrated solution provides a standardized workflow that offers reliability and consistent clinical findings.

Technological advancements, resulting in enhanced accuracy, portability, and cost-effectiveness, are expected to present this market with future growth opportunities. Small-sized high-throughput cytometers are anticipated to gain popularity in the near future due to their associated benefits, such as ease of use and cost-effectiveness. Furthermore, improvements in fluorescent dyes and the introduction of bench-top cytometers are factors expected to drive market growth. Rapid advancements in multicolor flow cytometry, which has extensive applications in new drug development, have led to an easy cellular analysis by simultaneous evaluation of several parameters. These devices are extensively adopted by many contract research organizations.

 

Furthermore, the increasing prevalence of cancer, immunodeficiency disorders, and infectious diseases, including the outbreak of COVID-19, has significantly driven the demand for flow cytometry solutions for research and clinical applications. As per the American Cancer Society estimates, in 2020, around 1.8 million new cancer cases will be diagnosed in the U.S. Also, according to the data published by the National Cancer Institute (NCI), as of January 2019, there were around 16.9 million cancer survivors in the U.S.


Flow Cytometry Market Segmentation

Grand View Research has segmented the global flow cytometry market on the basis of product, technology, application, end-use, and region:

Based on the Product Insights, the market is segmented into Instruments, Reagents & Consumables, Software, Accessories, and Services.

  • The instruments segment dominated the market for flow cytometry and accounted for the largest revenue share of 35.4% and is expected to maintain its dominance over the forecast period. This high share is attributed to new advancements in technology and the introduction of novel cytometers by key players.

 

  • The reagents and consumables segment also held a significant revenue share in 2020 in the market for flow cytometry owing to their increased adoption in diagnostics and research. The segment is expected to register lucrative growth over the forecast period.

 

Based on the Technology Insights, the market is segmented into Cell-based, and Bead-based.

  • The cell-based segment dominated the market for flow cytometry and held the largest revenue share of 76.6% in 2020. Increasing demand for early diagnosis and growing awareness pertaining to associated benefits of cell-based assays are factors contributing to its highest share. Furthermore, advancements in technologies of cell-based assays, such as innovation in instruments, labels, affinity reagents, software, and algorithms, are anticipated to drive adoption in the coming years.

 

  • Bead-based assays are developed to study infectious diseases. The demand for these assays is expected to show lucrative growth over the forecast period, owing to advancements in molecular engineering and monoclonal antibody production and the associated advantages, such as cost-efficiency, low sample requirement, and short turnaround time.

 

Based on the Application Insights, the market is segmented into Research, Industrial, and Clinical.

  • The research segment dominated the market and held the largest market share of 49.6% in 2020 and is anticipated to hold its dominance over the forecast period. This high share can be attributed to increasing R&D activities pertaining to cancer and infectious diseases, including COVID-19.

 

  • Clinical diagnosis is expected to be the fastest-growing segment due to the increasing demand for cost-effective disease diagnosis and associated benefits of flow cytometry in disease detection, such as faster and accurate results. Furthermore, continuous organic growth strategies by prominent players and the introduction of novel flow cytometry solutions for clinical applications are also anticipated to significantly support segment growth.

 

Based on the End-use Insights, the market is segmented into Commercial Organizations, Hospitals, Academic Institutes, and Clinical Testing Labs.

  • The commercial organization segment dominated the market for flow cytometry in 2020 with 39.5% revenue share. This dominance is credited to increasing R&D activities by commercial organizations such as pharmaceutical and biotechnology companies. In addition, expanding food industries in developing countries such as China and India are also anticipated to support segment growth.

 

  • Furthermore, increasing research activities by commercial organizations to develop effective therapeutics for life-threatening diseases such as cancer is anticipated to create high demand for flow cytometry solutions. On the other hand, the hospitals and clinical testing labs segment are anticipated to witness lucrative growth due to the increasing demand for cost-effective diagnosis of target diseases such as cancer.

 

Flow Cytometry Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The key players operating in the market are adopting various strategies such as the launch of new products, collaborations, geographical expansion, and partnerships to sustain their position in the market. For instance, in June 2020, Apogee Flow Systems Ltd. established Apogee Flow Asia Ltd. in Hong Kong, China. With this, Apogee Flow Systems expanded the presence of its flow cytometer solutions in the Asia Pacific market. Also, in January 2019, Luminex Corporation completed the acquisition of the flow cytometry portfolio of MilliporeSigma for USD 75.0 million in combined stocks, assets, and inventory purchases. Some of the prominent players in the flow cytometry market include:

  • Danaher Corporation
  • Becton
  • Dickinson and Company
  • Luminex Corporation
  • Agilent Technologies, Inc.
  • Bio-Rad Laboratories, Inc.
  • Miltenyi Biotec
  • Sysmex Corporation
  • Stratedigm, Inc.
  • Apogee Flow Systems Ltd.
  • Sony Biotechnology, Inc.
  • Thermo Fisher Scientific, Inc.

 

Order a free sample PDF of the Flow Cytometry Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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