Global Flow Cytometry Market to Worth USD 5.4 Billion by 2023

The global flow cytometry market is projected to reach USD 5.4 billion by 2023 from USD 3.7 billion in 2018, at a CAGR of 8.1 percent. The major factors driving the growth of the flow cytometry market are the technological advancements in flow cytometers, increasing adoption of flow cytometry techniques in research activities and clinical trials, the growing focus on immunology and immuno-oncology research, high incidence and prevalence of HIV-AIDS and cancer, and availability of novel application-specific flow cytometry products.

Bead-based flow cytometry is expected to grow at the highest CAGR, by technology

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. 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.

Reagents and consumables are expected to hold the largest share, by product, in 2018

The flow cytometry market is segmented on the basis of products and services into reagents and consumables, instruments, services, software, and accessories. The reagents and consumables segment is expected to command the largest share of the global flow cytometry market in 2018. Factors such as the development and commercialization of high-quality application-specific reagents and assays and the continuous requirement of flow cytometry reagents by end users (due to the increasing number of flow cytometry-based research activities) are expected to drive the growth of the reagents and consumables market in the coming years.

North America is expected to dominate the flow cytometry market in 2018

Geographically, the market is segmented into North America (the US and Canada), Europe (Germany, the UK, France, and the Rest of Europe), Asia Pacific (Japan, China, India, and the Rest of APAC), Latin America (Brazil, Mexico, and the Rest of LATAM), and the Middle East and Africa. North America is expected to account for the largest share of the global flow cytometry market in 2018. The favorable business environment, continuously growing number of research activities, the rising number of drug discovery initiatives by US-based pharmaceutical & biotechnology companies, and the strong presence of key players are the key factors propelling the growth of the North American flow cytometry market.

The major players operating in the flow cytometry market are Becton, Dickinson and Company (US), Beckman Coulter, Inc. (US), Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Sysmex Partec GmbH (Germany), Luminex Corporation (US), Miltenyi Biotec GmbH (Germany), Bio-Rad Laboratories, Inc. (US), Sony Biotechnology, Inc. (US), Agilent Technologies, Inc. (US), bioMérieux S.A. (France), Enzo Life Sciences, Inc. (US), Stratedigm, Inc. (US), Cytonome/ST LLC (US) and Apogee Flow Systems Ltd. (UK). – MarketsandMarkets