Flow cytometry is a process in which cells or particles are suspended in fluid and passed through a laser or light beam for identification and counting. It is a powerful tool for biomedical research, drug discovery and clinical diagnosis. Flow cytometry allows simultaneous multiparametric analysis of the physical and chemical characteristics of up to thousands of particles per second. Technological innovations in flow cytometry systems are improving the speed, accuracy and sensitivity of data acquisition and analysis. 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 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Technological innovations are accelerating the growth of the flow cytometry market. Advances in digital signal processing, DNA and protein microarray technologies, and miniaturization of components are allowing the development of compact, high-throughput and microfluidic flow cytometry systems. Miniaturized microfluidic flow cytometry systems facilitate high-speed analysis of rare cell subpopulations from small sample volumes with minimal sample preparation. These systems are also finding increasing application in point-of-care testing. Development of microchip-based flow cytometry further improves portability and reduces costs. Integration of advanced artificial intelligence and machine learning algorithms is also enhancing the analytical capabilities of flow cytometry systems.
Segment Analysis
The global flow cytometry market can be segmented based on technology, product and service, application, end user, and geography. By technology, cell-based flow cytometry held the largest market share in 2021 and is expected to maintain its dominance over the forecast period as it is widely used for research and diagnostic applications. By product and service, instruments dominated the market and accounted for the highest revenue share in 2021 owing to the frequent replacement of these devices and the need for upgradation to advanced flow cytometers.
Key Takeaways
The Global Flow Cytometry Market Growth is expected to witness high over the forecast period from 2023 to 2030 driven by factors such as rising prevalence of HIV/AIDS and cancer worldwide along with growing application areas of flow cytometry.
Regional analysis: North America accounted for the largest revenue share in the global market in 2021 owing to presence of key players, increased funding for R&D, growth of the biotechnology industry, and high adoption of advanced technologies in the region. Asia Pacific is expected to witness the fastest growth during the forecast period attributable to rising healthcare expenditure, growing public and private funding for life science research, and increasing number of CROs in countries such as China and India.
Key players: Key players operating in the flow cytometry market are Google Inc., Apple Inc., Rethink Robotics, BAE Systems, Narrative Science Inc., Creative Virtual Ltd., Microsoft Corporation, Digital Reasoning Systems, Inc., and IBM Corporation. These companies focus on new product launches, collaborations, and patents to sustain their market presence. For instance, in 2023, Google Inc. launched new upgraded flow cytometer with advanced features to expand its product portfolio.
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