Global Flow Cytometer Market Poised for Steady Growth, Projected to Grow USD 8.17 Billion by 2028

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Technavio, a leading market research company with global coverage, published a report on, "Flow Cytometer Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, China, UK, Germany, Canada - Size and Forecast 2024-2028". According to the report, the Flow Cytometer Market size is projected to increase by USD 8.17 billion by 2028 from 4.3 billion in 2017 at a CAGR of 15.2% between 2023 and 2028.

Moreover, the growth momentum will accelerate. Based on geography, the global flow cytometer market is segmented into North America, Europe, Asia, and Rest of World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global flow cytometer market. North America is estimated to account for 35% of the growth of the global market during the forecast period. This growth is attributed to factors such as the increasing prevalence of several infectious and chronic diseases, the growing presence of pharmaceutical companies, a rise in the development of various therapeutic drugs, and the growing adoption of advanced technologies. The report also includes historic market data from 2017 to 2021.

The report also provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market.

Flow cytometer market - Five forces

The global flow cytometer market is fragmented, and the five forces analysis covers–

  • Bargaining power of buyers 
  • The threat of new entrants
  • Threat of rivalry
  • Bargaining power of suppliers
  • Threat of substitutes

Flow cytometer market - Customer landscape

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Flow cytometer market - Segmentation assessment

Segment overview

Technavio has segmented the market based on product (reagents and consumables, instruments, and others) and end-user (pharmaceutical industry, health and diagnostic centers, and others).

  • The reagents and consumables segment will account for a significant share of the market's growth during the forecast period. The primary functions of these reagents and consumables include cell separation, cell detection, blocking, cell status analysis, performance control, and cell staining. The growth of this segment is attributed to factors such as a high volume of sales and a short product replacement or replenishment cycle. Such factors will drive the segment's growth during the forecast period.

Flow cytometer market - Market dynamics

Key factors driving market growth

  • The increasing expenditure on R&D is driving the growth of the global flow cytometer market.
  • The increasing prevalence of diseases such as cancer, diabetes, COVID-19, heart diseases, chronic obstructive pulmonary disease (COPD), and dementia has driven the need for developing biologics and small molecules.
  • Pharmaceutical companies are focusing on R&D for the development of new drug molecules to enhance their product pipeline.
  • They are also increasing their R&D expenditure on discovering and developing novel drugs.
  • Thus, the growing demand for advanced technologies is expected to contribute to the growth of the global flow cytometer market during the forecast period.

Leading trends influencing the market

  • The increasing level of process automation is a key trend in the market.
  • The level of automation has improved significantly over the last couple of decades.
  • Automation allows the storage of processed information and reduces the need for human intervention.
  • Most instruments and devices used in laboratories can be integrated into a digital ecosystem to enable seamless integration.
  • This will allow higher throughput, better accuracy, more energy efficiency, reduced wastage of resources, and lower operating costs in the long run.
  • Therefore, the global flow cytometer market is expected to grow during the forecast period.

Key Market Companies

Major challenges hindering market growth

  • A shortage of skilled professionals is challenging the growth of the global flow cytometer market.
  • Flow cytometer instruments require advanced analysis software for various measurement procedures.
  • Hence, the operation of these instruments and the analysis of samples requires considerable training.
  • Companies should invest significantly in training their employees on the effective use of these instruments.
  • These devices also need high maintenance, especially for companies in the biopharmaceutical industry.
  • Therefore, the shortage of skilled labor, along with the growing complexity of flow cytometer instruments, will challenge the growth of the market during the forecast period.

What are the key data covered in this flow cytometer market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the flow cytometer market between 2023 and 2027
  • Precise estimation of the size of the flow cytometer market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the flow cytometer market across North America, Europe, Asia, and Rest of World (ROW)
  • A thorough analysis of the market's competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of Flow Cytometer Market vendors

Click here to read the report titled, 'Flow Cytometer Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, China, UK, Germany, Canada - Size and Forecast 2024-2028'.
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