Flow Cytometry Market Size, Share, Growth Analysis, By Technology (Cell-Based, Bead-Based), Product & Service (Instruments, Software), Application (Research, Immunology), By Region - Industry Forecast 2024-2031

Global Flow Cytometry Market size was valued at USD 3.97 billion in 2022 and is poised to grow from USD 4.25 billion in 2023 to USD 6.99 billion by 2031, growing at a CAGR of 7.17% in the forecast period (2024-2031).

The growth of the industry is attributed to the increasing incidence of cancer, immune system disorders, and infections. The high demand for flow cytometry instruments is driven by increased spending on R&D in the biotechnology, life sciences, and biopharmaceutical sectors. Innovations like microfluidic flow cytometry for Point-of-Care (POC) testing exemplify the advancements in this technique. The COVID-19 pandemic has further propelled the use of flow cytometry. Its enhanced accuracy and ability to analyze multiple specimens simultaneously offer a viable alternative to current PCR- or antibody-based testing methods. Consequently, the application of flow cytometry in diagnosing and monitoring COVID-19 has contributed to the sector's growth. The emergence of new products in this field highlights ongoing innovations despite the pandemic. Flow cytometry provides crucial insights into a patient's response to COVID-19 antigens, aiding in effective management decisions. The adoption of such innovations is anticipated to drive industry growth in the future. Additionally, the rising incidence of infectious diseases worldwide has spurred the adoption of flow cytometry techniques. These techniques are essential for finding alternative methods for immunophenotyping and cell isolation to combat diseases that result in over 4.5 million fatalities annually. Flow cytometry can detect pathogenic microorganisms in environmental samples, making it a viable method for immunophenotyping.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Flow Cytometry market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Flow Cytometry Market Segmental Analysis

The flow cytometry market is segmented based on Technology, Product & Service, Application, End-use, and Region. Based on Technology, the market is segmented into Cell-Based Flow Cytometry, Bead-Based Flow Cytometry. Based on Product & Service, the market is segmented into Reagents & Consumables (Antibodies, Assays & Kits, Other Reagents & Consumables), Instruments (Cell Analyzers [High-range Cell Analyzers, Mid-range Cell Analyzers, Low-range Cell Analyzers], Cell Sorters [High-range Cell Sorters, Mid-range Cell Sorters, Low-range Cell Sorters]), Services, Software, Accessories. Based on Application, the market is segmented into Research Applications (Pharmaceutical & Biotechnology [Drug Discovery, Stem Cell Research, In Vitro Toxicity Testing]), Immunology (Cell Sorting, Apoptosis, Cell Cycle Analysis, Cell Viability, Cell Counting, Other Research Applications), Clinical Applications (Cancer Diagnostics, Hematology, Autoimmune Diseases, Organ Transplantation, Other Clinical Applications), and Industrial Applications. Based on End-user, the market is segmented into Academic & Research Institutes, Hospitals & Clinical Testing Laboratories, and Pharmaceutical & Biotechnology Companies. Based on region, the market is categorized into North America, Europe, Asia-Pacific, South America, and Middle East and Africa.

Drivers of the Global Flow Cytometry Market

Flow cytometry is essential for analyzing cell surface and intracellular molecules, characterizing diverse cell types, and assessing the purity of isolated subpopulations. The market is driven by increased R&D in multicolor assays and advanced reagents. The rising prevalence of chronic and infectious diseases, including COVID-19, has significantly boosted demand. Numerous research institutes and pharmaceutical companies are conducting extensive R&D to develop new vaccines and therapies, further fueling market growth.

Restraints in the Global Flow Cytometry Market

Flow cytometry instruments are expensive, making it difficult for many developing economies to afford technologically advanced models. These instruments typically cost between USD 75,000 and USD 100,000 for a four- to six-color, two-laser setup, creating a significant financial burden for small and medium-sized hospitals and diagnostic laboratories in these regions. For example, Thermo Fisher Scientific's Attune, a two-laser, six-color instrument, costs USD 99,000 in the United States. Consequently, the high cost of equipment is likely to limit the demand for advanced flow cytometers.

Market Trends of the Global Flow Cytometry Market

Flow cytometry is widely regarded as an excellent tool for characterizing, identifying, and isolating stem cells for both research and potential clinical applications. Recent advancements in flow cytometric hardware, reagents, and software have significantly enhanced the ability of stem cell biologists to identify and isolate rare cells. The extensive use of flow cytometry in disease diagnosis and early detection has further driven its adoption in stem cell research, thereby propelling the growth of the flow cytometry market.