A new forecast by Fact.MR estimates that flow cytometry revenues will expand more than twofold between 2021 and 2031, reaching US$ 12.5 Bn in 2031, following a ten-year compound annual growth rate (CAGR) of approximately 9% across the forecast period. As of 2021, the industry is poised to reach US$ 5.3 Bn. Expanding research on countering immunological disorders is spearheading growth.
From 2016 to 2020, the flow cytometry market surged at a CAGR of around 8%, to be valued at US$ 4.7 Bn by the end of the historical period. This technique received further boost amid the COVID-19 pandemic, as healthcare stakeholders leveraged it to characterize the type of T cells responsible for triggering the immune response against the disease.
Flow cytometry technology plays a vital role in basic research, drug discovery, and clinical diagnostics. Flow cytometry is currently being used more and more to measure several parameters simultaneously in a variety of clinical applications such as blood disorders in medicine. Future prospects are expected to broaden as pharmaceutical and healthcare providers look to developed advanced cancer diagnostics. By 2025, Fact.MR expects the market to reach US$ 8.1 Bn.
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Key Segments Covered
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Technology
- Cell-based Flow Cytometry
- Bead-based Flow Cytometry
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Products & Services
- Flow Cytometry Reagents & Consumables
- Flow Cytometry Instruments
- Flow Cytometry Software
- Flow Cytometry Services
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Application
- Flow Cytometry for Pharmaceutical & Drug Discovery
- Flow Cytometry for Diagnostics
- Flow Cytometry for Other Applications
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End User
- Flow Cytometry for Hospitals & Diagnostic Labs
- Flow Cytometry for Academic & Research Institutions
- Flow Cytometry for Other End Users
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Key Takeaways from the Market Study
- Cell based flow cytometry to account for 60% of global market demand
- By products & services, flow cytometry software likely to incline at 6% CAGR
- Flow cytometry instruments to account for 2 out of 5 sales until 2031
- Pharmaceutical & drug discovery applications to account for 45% of flow cytometry demand
- By end user, academic & research institutions to register over 11% CAGR until 2025
- North America likely to yield 1/3rd of the global flow cytometry market revenue
- Asia to register a staggering 14% CAGR until 2025, with India & China spearheading growth
Competitive Landscape
Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are eco-friendly by nature.
- On 17th September 2020, Agilent Technologies Inc. expanded its product offering with Agilent NovoCyte Penteon. As multicolor flow cytometry assays get more sophisticated, the NovoCyte Penteon offers expansions in UV excitation capabilities that allow for this to occur.
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More Insights Available
Fact.MR’s, in its new offering, presents an unbiased analysis of the flow cytometry market, presenting historical demand data (2016-2020) and forecast statistics from 2021 to 2031.
The study divulges essential insights on the market based on technology (cell-based, bead-based), products & services (reagents & consumables, flow cytometry instruments, software, services), application (pharmaceutical & drug discovery, diagnostics), and end-users (hospitals & diagnostic labs, academic & research institutions and others) across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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