As per a recent report published by Fact.MR, the global flow cytometry market is poised to grow at a CAGR of 11.1% from 2022 to 2032. During the said forecast period, the industry is likely to yield a dollar opportunity worth US$ 6.1 Billion in 2022, expected to close at a valuation of US$ 16.7Billion. The growing understanding of immunologic forces regulating systemic diseases, as well as the development of molecular diagnostics, monoclonal antibodies, lasers, and IT, will have a profound impact on flow cytometry.
From 2015 to 2021, the market for Flow Cytometry grew at a CAGR of ~11%, closing at a value of US$ 5.3. As of 2022, the industry is likely to reach US$ 6.1 Billion. Drug discovery and development is a very complex, lengthy, and expensive process. As a tool to identify and characterize drug-induced toxicity in animal models and cell culture systems, flow cytometry has been used for a drug safety assessment with multiple benefits for biomedical research.
Bead-based Flow Cytometry increases the efficiency and reduces the operational cost of discovering a new drug, thereby gaining traction among the prominent manufacturers across the globe.
Key Takeaways from the Market Study
- Global Flow Cytometry market to flourish 2.6x from 2022-2032
- Bead-based Flow Cytometry to be a top-selling category, capturing more than 40% market and flourishing at a 17% CAGR until 2032
- By application, Flow Cytometry for the pharmaceutical industry to expand at a CAGR of 8%
- APAC to emerge as the fastest-growing Flow Cytometry market, documenting a 14% CAGR
- S to be the 2nd most opportunistic market, expected to be valued at US$ 10.2 Billion in 2032
“Technological Advancement in the Pharmaceutical sector has compelled manufacturers to invest in the flow cytometry industry. They are consistently trying to reduce the cost of developing drugs and increase awareness towards the flow cytometry products & Services.” comments a Fact.MR analyst.
Competitive Landscape
The global market for Flow Cytometry is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out, specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage up-gradation and product differentiation to gain an edge over other competitors in the market.
- In April 2020, Merck, a leading science and technology company, launched its new CellStream™ benchtop flow cytometry system, a compact, customizable flow cytometer that uses a camera for detection. Its unique optics system and design provide researchers with unparalleled sensitivity and flexibility when analyzing cells and submicron particles.
- In July 2021, Thermo Fisher Scientific Inc.TMO recently announced the launch of Thermo Scientific Phenom Pharos G2 Desktop Field Emission Gun — Scanning Electron Microscope (FEG-SEM). The instrument is designed to accelerate access to advanced nanomaterial research capabilities.
- The Phenom Pharos G2 advances nanomaterial research by delivering high resolutions and a broad acceleration voltage range, all in a desktop system that can fit within a lab or office.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global Flow Cytometry market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of technology (cell-based and bead-based), products & services (reagents & consumables, instruments, software and services), application (pharmaceutical & drug discovery, diagnostics and other applications), and end user (hospitals & diagnostic labs, academic & research institutions and other end users) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our Healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the Healthcare sector. Our expertise in recognizing the challenges and trends impacting the global Healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.