(EMAILWIRE.COM, May 12, 2023 )
Flow Cytometry Market is projected to grow from USD 4.7 billion in 2022 to USD 6.9 billion by 2027, at a CAGR of 8.1% from 2022 to 2027 according to a new report by MarketsandMarkets. The growth of the Flow Cytometry Market is largely driven by the rising prevalence of HIV/AIDS and cancer, growing adoption of flow cytometry techniques in research activities, increasing public-private initiatives in immunology and immuno-oncology research, and rising technological advancements in flow cytometry software.
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Reagents & consumables segment held major share in Flow Cytometry Market in 2021.
Based on product & service, the market is segmented into reagents & consumables, instruments, software, services, and accessories. Reagents & consumables accounted for the largest share in the market in 2021. The large share of this segment can primarily be attributed to the growing use of flow cytometry techniques in clinical & research applications.
Research application segment dominated the global Flow Cytometry Market in 2021.
Based on applications, the market is segmented into research, clinical, and industrial applications. In 2021, the research applications segment accounted for the largest share in the global market. The large share of the research applications segment is mainly due to the growing adoption of flow cytometry in research activities and the increasing availability of flow cytometry services, such as cell sorting, cell cycle analysis, and apoptosis.
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North America has registered fastest growth rate during the forecast period in Flow Cytometry Market
Geographically, the Flow Cytometry Market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share in the global market in 2021. The large share of North America in the market is largely driven by the presence of key market players and increasing public-private initiatives for research activities. The market in the Asia Pacific region is expected to grow at the highest CAGR of 8.6% during the forecast period.
The high growth rate of the APAC region can be attributed to the growing pharmaceutical industry; increasing participation of emerging markets in flow cytometry-based research; expansion of research infrastructure; and increasing public-private initiatives to boost advanced proteomics research in the region.
The prominent players in the Flow Cytometry Market are Becton, Dickinson and Company (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), and Luminex Corporation (US). These companies have adopted organic and inorganic growth strategies, such as product launches and acquisitions, to maintain their leading positions in the market.