FLOW CYTOMETRY MARKET ANALYSIS

Market Size and Trends

The flow cytometry market is estimated to be valued at USD 7.52 Bn in 2024 and is expected to reach USD 15.39 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.8% from 2024 to 2031.

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The flow cytometry market is expected to witness positive growth over the forecast period. This is attributed to increased incidence of chronic diseases such as cancer, diabetes, cardiovascular diseases, and rising investments and funding for research activities related to drug discovery and development. Moreover, technological advancements in flow cytometers such as the development of high-throughput flow cytometry technique which allows screening of large number of cells at a rapid pace positively impacts the market growth. Adoption of flow cytometry techniques for stem cell research, organ transplantation, and immunology and immunotherapy also support market expansion. However, high cost of equipment and stringent regulatory approval process for new devices may impede the market growth to some extent over the forecast period.

Increasing Product Launches by Key Market Players

Increasing adoption of organic strategies such as product launches by key market players is expected to drive the global flow cytometry market growth over the forecast period. For instance, in June 2022, BD, a medical technology company, announced that it had launched an advanced flow cytometry system that sorts cells based on their inner workings. This system will sort and characterize the myriad cells that makes up the human body. It aims to profile individual cells based on their visual characteristics in addition to various protein biomarkers, at a rate of up to 15,000 cells per second.

The expanding pharmaceutical and biotechnology industries around the globe have significantly boosted the adoption of flow cytometry techniques. Flow cytometry finds widespread usage right from the initial drug discovery and development phases to the final validation and quality control tests. Researchers in these industries heavily rely on flow cytometry for detecting rare cell populations, screening novel bioengineering cell lines, developing personalized medicine assays, and others. As pharmaceutical giants are constantly seeking innovative drug candidates and therapies, their R&D expenditures on flow cytometry solutions have risen tremendously over the past decade. The demand has also grown from small biotech startups who are exploring flow cytometry for validating their ideas and attracting funding. With more focus on precision medicine and biomarker-based drug development, the application of flow cytometry is projected to steadily rise in pharmaceutical and biotech companies in the coming years.