Westford USA, July 16, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global flow cytometry market will attain a value of USD 6.99 Billion by 2031, with a CAGR of 7.17% during the forecast period (2024-2031). Flow cytometry has proliferated due to the COVID-19 outbreak. With its increased accuracy and higher throughput, this method offered an alternative method for COVID-19 testing and can help in avoiding any limitations posed by the existing PCR or antibody-based options. The segment has thus grown due to flow cytometry techniques in COVID-19 diagnosis and disease tracking. The fact that new products are also being introduced into this realm goes on to prove that the pandemic has stirred advances in flow cytometry.
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Browse in-depth TOC on "Flow Cytometry Market"
- Pages – 157
- Tables - 130
- Figures – 77
Flow cytometry Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 4.25 Billion |
| Estimated Value by 2031 | USD 6.99 Billion |
| Growth Rate | Poised to grow at a CAGR of 7.17% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Product & Services, Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Increase In Government Funding for Clinical Studies Related to In-Vitro Molecular Diagnostics |
| Key Market Drivers | Rising Demand for Personalized Medicine Drives Flow Cytometry Market |
Media & Entertainment has the Largest Market Due to Increase in Subscription-Based Streaming Services
Media & entertainment segment ranked top among all other segments in terms of adoption in the year 2023. This is majorly due to the huge surge in the consumption of subscription- based services and the trends of streaming of content. Users are satisfied with flow cytometry when it comes to streaming, downloads, and in-application purchases on platforms like Netflix, Spotify and others. Moreover, the inclusion of secure payment gateways in over-the-top gaming and digital media platforms has taken this dominance to the next level.
Software Segment Expected to have the Fastest Growth by Providing Statistical Advice
The software segment is likely to acquire a higher growth rate from 2024-2031. Software plays a major role in processing, acquiring data from cytometers for analyzing the given information, and providing statistical advice. A diverse list of applications creates great expectations regarding the future market trends in the near years. Also, the launch of new products in the market by some of the leading companies is expected to drive this segment in the future.
Extensive R&D Activities Enable North America to Hold the Largest Market Share
North American region accounted for the largest market share in 2023, due to well-established infrastructure of the health care and pharmaceutical sector as well as rapid rise in the health care expenditure in developed nation like the U.S, which would boost the demand in clinical and researcher application of flow cytometry. Hence, huge advancements in therapeutic procedures and consistent improvements in public as well as private investments lodged by prominent market stakeholders in cancer research have significantly cemented the need for such instruments even more in this region.
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Flow Cytometry Market Insights:
Drivers
- Advancements and Demand in Flow Cytometry
- Rising Demand for Personalized Medicine Drives Flow Cytometry Market
- Increasing Incidences of Chronic Diseases
Restraints
- High Costs Impede Flow Cytometry Adoption in Developing Economies
- Limited Accessibility in Resource-Poor Settings
- Competition From Emerging Technologies as well as Established Methods
Prominent Players in Flow Cytometry Market
The following are the Top Flow Cytometry Companies
- Becton, Dickinson, and Company
- Danaher Corporation
- Thermo Fisher Scientific, Inc.
- Luminex Corporation
- Agilent Technologies, Inc.
- Sony Group Corporation
- Bio-Rad Laboratories, Inc.
- Miltenyi Biotec GmbH
- Enzo Biochem, Inc.
- Sysmex Corporation
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Key Questions Answered in Flow cytometry Market Report
- What is the projected market value of the Flow Cytometry Market?
- What are the key market trends in the Flow Cytometry Market?
- Which is the leading region Flow Cytometry Market in the world and why?
This report provides the following insights:
- Analysis of key drivers (growing demand for better data security, rising adoption of Blockchain and IoT technologies, increasing use of decentralized systems in different industry verticals), restraints (interoperability issues with legacy systems, complexities in integration with existing infrastructure, concerns regarding scalability of gas cleaning technologies systems), and opportunities (growing demand for data monetization, rising demand for transparent yet trusted transactions), influencing the growth of flow cytometry market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the flow cytometry market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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