Flow Cytometry Market Size, Share & Trends Analysis Report By Product (Instruments, Software), By Technology (Bead-based, Cell-based), By Application (Industrial, Clinical), By End-use, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the flow cytometry market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for flow cytometry market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of flow cytometry market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Flow Cytometry Market Categorization:

The flow cytometry market was categorized into five segments, namely product (Instruments, Reagents & Consumables, Software, Accessories, Services), technology (Cell-based, Bead-based), application (Research, Industrial, Clinical), end-use (Commercial Organizations, Hospitals, Academic Institutes, Clinical Testing Labs), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The flow cytometry market was segmented into product, technology, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The flow cytometry market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-five countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; UAE; Egypt; South Africa; and Nigeria.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Flow cytometry market companies & financials:

The flow cytometry market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Danaher Corporation is a diversified conglomerate that manufactures and markets life sciences & diagnostic solutions to professionals across medical and biotechnology & pharmaceutical industries. It has a global presence with a strong distribution network across more than 25 countries worldwide. The company has made several significant acquisitions, including those of Molecular Devices and Cytiva, in recent years to enhance its bioanalytical product offerings.

• Beckman Coulter manufactures, develops, and markets products that innovate, automate, and simplify complex biomedical testing. The company operates through two segments: diagnostics and life sciences. Its diagnostics customers include laboratories and hospitals from different regions around the world, which provide physicians with information to diagnose diseases, make decisions related to treatments, and monitor patients. Its life sciences research instruments are used by scientists to study complex biological problems and potential new drugs & therapies.

• Cytiva provides services and technologies for the development & manufacturing of novel therapeutics. In March 2020, Danaher Corporation acquired the biopharmaceutical business of GE Company's Life Sciences division. Under Danaher’s ownership, the business was named Cytiva, which began operating as a standalone company within Danaher's Life Sciences segment. The company operates in around 40 countries and territories, including North America, Latin America, Europe, Asia, and the Middle East.

• BD is a medical technology company that serves clinical laboratories, life sciences researchers, and healthcare institutions & industries. The company manufactures and markets a wide range of medical devices, diagnostic products, medical supplies, and laboratory equipment. It operates through BD Life Sciences, BD Medical, and BD Interventional business segments. The BD Life Sciences segment delivers innovative solutions ranging from discovery to diagnosis, while the BD Medical segment offers solutions for infection control, diabetes treatment, and safe medication management, among others. The BD Interventional segment offers solutions for surgical, urological, endovascular, critical care, and other interventions.

• Sysmex Corporation is a Japanese healthcare company headquartered in Hyogo, Japan, and is engaged in the design, manufacture, and marketing of diagnostic instruments & reagents. The company acquired Partec GmbH, a pioneer in flow cytometry, in 2013, to form Sysmex Partec GmbH. Sysmex Corporation was founded in 1968 and provides a wide variety of products and services to customers in more than 190 countries.

• Agilent Technologies, Inc. was founded in 1999 and is headquartered in California, U.S. The company has businesses in diagnostics, life sciences, and applied chemical markets. It offers analytical instruments & software for analytical scientists and clinical researchers. The company has operations in pharmaceuticals, food, environmental & forensics, chemical & energy, and research segments. Its life sciences and applied market segment offers liquid & gas chromatography, genomics & diagnostic consumables, mass spectrometry, spectroscopy, and relevant services & software. The company serves customers in more than 110 countries.

• Apogee Flow Systems Ltd., headquartered in the UK, is involved in designing, manufacturing, and distributing flow cytometers, accessories, & consumables. It was founded in 2000 and offers services across various areas, including research, microbiology study, and clinical diagnostics. The company generally offers products and services directly to the end-user; however, in some countries, the company works with distributors where direct sales are not possible.

• Bio-Rad Laboratories, Inc. is a company headquartered in Hercules, California, U.S., and offers innovative products and services for life sciences research, clinical diagnostics, & digital biology. It also provides a range of reagents, apparatus, and instruments for use in R&D and production of biopharmaceuticals. The company serves customers such as universities & research centers, commercial laboratories, and biotechnology & pharmaceutical companies. It has a global presence across North America, Asia, Europe, and Middle East & Africa.

• Thermo Fisher Scientific, Inc. is a biotechnology company established after the collaboration of Thermo Electron and Fisher Scientific. It is headquartered in Waltham, Massachusetts, U.S. and offers products in life sciences, industrial & applied sciences, and clinical diagnostics, with operations in over 50 countries worldwide. It also offers instruments for DNA synthesis, transfection, protein expression profiling, sample preparation, antibodies, cell culture media, cell imaging, and protein analysis. In addition, it provides services such as cell line development, custom media modification, and custom assay development. Its product portfolio also includes research tools for studies, including genomics, proteomics, gene splicing, and cellular analysis.

• Stratedigm, Inc. is a medical device company involved in the development, manufacture, and distribution of customizable, upgradeable, and benchtop flow cytometry systems. It was founded in 2004 and is headquartered in California, U.S. The company introduced a fully configurable and scalable cytometer, the S1000, in 2008. Since then, the company has launched 13 major platforms.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Flow Cytometry Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2019 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Flow Cytometry Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.