Flow Cytometry Market Size, Share & Trends Analysis Report By Product (Instruments, Reagents & Consumables, Software, Accessories, Services), By Technology, By Application, By End-use, By Region, And Segment Forecasts, 2021 - 2027

Report Overview

The global flow cytometry market size was valued at USD 6.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2021 to 2027. Factors such as the high prevalence of targeted diseases and increasing R&D investments in biotechnology, clinical, and life science research are expected to significantly fuel market growth over the forecast period.

Flow cytometry helps in analyzing the expression of cell surface and intracellular molecules. It is used to characterize and define different types of cells in a heterogeneous cell population and facilitates assessing the purity of isolated subpopulations. Rising R&D initiatives by various key players for the development of multicolor assays and advanced reagents for analysis are driving the market. Also, the increasing prevalence of chronic and infectious diseases, including the outbreak of COVID-19, has led to the high growth of the market for flow cytometry. Following the outbreak, numerous research institutes and pharma companies are involved in extensive R&D activities for the development of new vaccines and therapies. This has created a huge demand for flow cytometry solutions for research applications.

Flow cytometry is commonly used for the diagnosis of cancer and immunodeficiency. The increasing prevalence of these diseases is one of the factors expected to drive the market for flow cytometry over the forecast period. In addition, adverse effects of chemotherapy and radiation therapy in cancer treatment have increased preference for autologous and allogeneic stem cell therapies by physicians, thereby positively impacting the growth of this market. According to World Cancer Research Fund International (WCRF) data, around 18 million cancer cases were recorded in 2018 globally. Out of these, around 17,036,901 new cases were diagnosed in that year. The same source reported around 437,033 newly diagnosed leukemia cases in the year 2018. Flow cytometry is useful in the diagnosis and classification of leukemia and facilitates distinguishing between lymphoid and myeloid leukemia.

The biotechnology industry is expected to exhibit significant growth over the forecast period due to increasing healthcare expenditure in developed countries and improving healthcare facilities. An increase in government funding to conduct clinical studies pertaining to in vitro molecular diagnostics is expected to drive the market, as it plays a vital role in the development of new products. Increasing investments in prominent biotech and biopharma companies have led to significant market growth. Chinese investors are increasingly focusing on investing in the European biotech companies as compared to that in the U.S. For instance, in 2019, they invested over USD 400 million in European companies, which is greater in comparison to 2017, where less than USD 100 million was invested. In 2019, out of USD 14.92 billion invested in various life science companies, approximately 64.6% of it has been used by the biotechnology sector.

Flow cytometry instruments are expensive, and, as a result, many developing economies are unable to afford technologically advanced flow cytometers. These instruments cost nearly USD 75,000 to USD 100,000 for a four- to six-color and two-laser instrument, which pose a huge burden on small- and medium-sized hospitals and diagnostic laboratories in developing economies. Thermo Fisher Scientific’s Attune with a two-laser and six-color instrument is available for USD 99,000 in the U.S. Thus, the high cost of equipment is expected to limit the demand for advanced flow cytometers.

Product Insights

In 2020, the instruments segment dominated the market for flow cytometry and accounted for the largest revenue share of 35.4% and is expected to maintain its dominance over the forecast period. This high share is attributed to new advancements in technology and the introduction of novel cytometers by key players. The high price of these instruments is also contributing toward the high revenue generation in this segment.

The reagents and consumables segment also held a significant revenue share in 2020 in the market for flow cytometry owing to their increased adoption in diagnostics and research. The segment is expected to register lucrative growth over the forecast period. The introduction of multiplex probes and reagents for specific applications in diagnostics as well as drug discovery is expected to increase growth opportunities by catering to the users in research laboratories and small peripheral laboratories. Furthermore, the software segment is anticipated to exhibit the fastest growth over the forecast period owing to the launch of new software platforms, facilitating automation in research activities.

Technology Insights

The cell-based segment dominated the market for flow cytometry and held the largest revenue share of 76.6% in 2020. Increasing demand for early diagnosis and growing awareness pertaining to associated benefits of cell-based assays are factors contributing to its highest share. Furthermore, advancements in technologies of cell-based assays, such as innovation in instruments, labels, affinity reagents, software, and algorithms, are anticipated to drive adoption in the coming years.

Bead-based assays are developed to study infectious diseases. The demand for these assays is expected to show lucrative growth over the forecast period, owing to advancements in molecular engineering and monoclonal antibody production and the associated advantages, such as cost-efficiency, low sample requirement, and short turnaround time. These assays are described as indirect or sandwich immunoassay formats, which are specifically used for measuring antibody levels in biological fluids. In these assays, beads are coated with conjugated antigen molecules to measure antibodies in the fluid.

Application Insights

The research segment dominated the market and held the largest market share of 49.6% in 2020 and is anticipated to hold its dominance over the forecast period. This high share can be attributed to increasing R&D activities pertaining to cancer and infectious diseases, including COVID-19. In addition, increasing R&D investments in the pharmaceutical and biotechnology industry are also expected to create a conducive environment for market growth.

Clinical diagnosis is expected to be the fastest-growing segment due to the increasing demand for cost-effective disease diagnosis and associated benefits of flow cytometry in disease detection, such as faster and accurate results. Furthermore, continuous organic growth strategies by prominent players and the introduction of novel flow cytometry solutions for clinical applications are also anticipated to significantly support segment growth. For instance, in April 2019, Cytek Biosciences, a manufacturer of flow cytometry products, received Chinese FDA approval for its new flow cytometer, DxP Athena, designed for clinical diagnostic use in laboratories, hospitals, and clinics.

End-use Insights

The commercial organization segment dominated the market for flow cytometry in 2020 with 39.5% revenue share. This dominance is credited to increasing R&D activities by commercial organizations such as pharmaceutical and biotechnology companies. In addition, expanding food industries in developing countries such as China and India are also anticipated to support segment growth.

Furthermore, increasing research activities by commercial organizations to develop effective therapeutics for life-threatening diseases such as cancer is anticipated to create high demand for flow cytometry solutions. On the other hand, the hospitals and clinical testing labs segment are anticipated to witness lucrative growth due to the increasing demand for cost-effective diagnosis of target diseases such as cancer.

Regional Insights

North America dominated the market for flow cytometry and held the largest revenue share of 39.1% in 2020. The region is anticipated to dominate the market throughout the study period. This dominance can be attributed to high healthcare expenditure, well-established healthcare infrastructure, and high adoption of technologically advanced flow cytometry solutions in the U.S. Furthermore, the established pharmaceutical industry and extensive research activities by research universities and pharmaceutical companies have created a huge demand for flow cytometry solutions for research needs. In addition, the high prevalence of chronic and infectious diseases, including the outbreak of COVID-19, has led to an increase in the demand for flow cytometry solutions for diagnosis and research purposes.

In Asia Pacific, the market is projected to exhibit exponential growth during the forecast period. This high growth can be attributed to the extensive growth in the pharmaceutical and biotechnology industries of emerging economies, such as China and India. The lucrative growth exhibited by this region is also an outcome of continuous government support for the establishment of the pharmaceutical industry in emerging countries. Furthermore, continuous R&D activities in the field of cancer and infectious diseases, including COVID-19, are anticipated to significantly boost the demand for flow cytometry products in the region. In addition, extensive research activities by regional players for the improvement or development of innovative flow cytometry solutions are expected to support the market growth in the region over the forecast period.

Key Companies & Market Share Insights

The key players operating in the market are adopting various strategies such as the launch of new products, collaborations, geographical expansion, and partnerships to sustain their position in the market. For instance, in June 2020, Apogee Flow Systems Ltd. established Apogee Flow Asia Ltd. in Hong Kong, China. With this, Apogee Flow Systems expanded the presence of its flow cytometer solutions in the Asia Pacific market. Also, in January 2019, Luminex Corporation completed the acquisition of the flow cytometry portfolio of MilliporeSigma for USD 75.0 million in combined stocks, assets, and inventory purchases. Some of the prominent players in the flow cytometry market include:

• Danaher Corporation

• Becton

• Dickinson and Company

• Luminex Corporation

• Agilent Technologies, Inc.

• Bio-Rad Laboratories, Inc.

• Miltenyi Biotec

• Sysmex Corporation

• Stratedigm, Inc.

• Apogee Flow Systems Ltd.

• Sony Biotechnology, Inc.

• Thermo Fisher Scientific, Inc.

Flow Cytometry Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global flow cytometry market report on the basis of product, technology, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Instruments

    • Cell Analyzers

    • Cell Sorters

  • Reagents & Consumables

  • Software

  • Accessories

  • Services

• Technology Outlook (Revenue, USD Million, 2016 - 2027)

  • Cell-based

  • Bead-based

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Research

    • Pharmaceutical

      • Drug Discovery

      • Stem Cell

      • In Vitro Toxicity

    • Apoptosis

    • Cell Sorting

    • Cell Cycle Analysis

    • Immunology

    • Cell Viability

  • Industrial

  • Clinical

    • Cancer

    • Organ Transplantation

    • Immunodeficiency

    • Hematology

• End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Commercial Organizations

  • Hospitals

  • Academic Institutes

  • Clinical Testing Labs

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • Spain

    • France

    • Italy

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Singapore

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE