The global flow cytometry market is witnessing significant growth driven by rising adoption of flow cytometry techniques in stem cell research and clinical diagnostics. Flow cytometry allows characterization and counting of cells suspended in a stream of fluid based on their optical and fluorescence characteristics at a singe-cell level. It finds widespread application in research, clinical testing and therapeutics discovery. Flow cytometry instruments provide precise measurements of physical and biochemical characteristics of particles and cells using light scattering and fluorescent reporter molecules. It helps identify and count different cells and cell populations to determine cell viability, cell identification, and cell cycle analysis among others.
The global flow cytometry market is estimated to be valued at US$ 6,280.32 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:
The growing emphasis on early disease detection and management is driving demand for advanced flow cytometry techniques. Key trends in the market include increasing adoption of next-generation flow cytometry instruments with improved sensitivity and detection capabilities. Growing R&D investments in stem cell research and cell-based therapeutics provides significant opportunities. Multi-color flow cytometry allows simultaneous detection of multiple cellular markers, which is revolutionizing disease diagnosis and drug development. Rising incidence of chronic diseases like cancer is boosting clinical applications of flow cytometry. The use of nanoparticles and quantum dots as fluorescent probes improves detection sensitivity. Ongoing technological advancements are expected to make flow cytometry simpler, affordable, and more user-friendly.
Threat of new entrants: The flow cytometry market requires large capital investments for R&D and manufacturing. Regulatory requirements for quality control and safety also act as a barrier.
Bargaining power of buyers: Individual buyers have low bargaining power due to the specialized nature of flow cytometers. However, large diagnostic chains and hospitals can negotiate prices.
Bargaining power of suppliers: A few major companies dominate the supply of reagents, lasers and software. This gives them significant power over buyers.
Threat of new substitutes: Though advanced imaging technologies offer alternatives, flow cytometry still has advantages in speed, sensitivity and ability to analyze multiple parameters per cell.
Competitive rivalry: The market is mature with well-established players. Competition is based on innovation in technology, expansion of application areas and services.
The Global Flow Cytometry Market Growth is expected to witness high growth over the forecast period driven by technological advancements in instrumentation and applications in immunology and cancer research.
Regional analysis: North America accounted for the largest share of the market owing to large research spending. Asia Pacific is expected to grow at the fastest pace with increasing research activity and demand for clinical diagnostics in major economies like 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. The market leaders are focused on launching innovative new systems, reagents and software to expand applications and gain greater share.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it