by Flow cytometry is a laser- or optical-based technology used to analyze the physical and chemical characteristics of cells or particles as they flow in a fluid stream through a beam of light. It allows simultaneous multiparametric analysis of the physical and chemical characteristics of single cells suspended in a stream of fluid. Flow cytometry is extensively used in medical science for research, clinical diagnosis, and monitoring of hematopoietic and solid neoplasms such as leukemia, lymphoma, and melanoma. Flow cytometry is used in a variety of applications including detection of infected cells, measurement of DNA and protein expression, assessment of cell viability, cell sorting, and absolute count of lymphocytes.
The global Flow Cytometry Market is estimated to be valued at US$ 6280.32 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing adoption of flow cytometry techniques in oncology research and drug development: As mentioned in the heading, the increasing adoption of flow cytometry techniques in oncology research and drug development is expected to drive the growth of this market. Flow cytometry allows comprehensive profiling of tumor cells which helps in better understanding of cancer at the cellular level. It is extensively used for detection, characterization, diagnosis, and monitoring of different cancers. Flow cytometry enables evaluation of biomarkers that can help in targeted drug development and assessment of treatment response.
Growth in stem cell research: Stem cell research market is growing at a rapid pace owing to the potential of stem cells in regenerative medicine and drug discovery. Flow cytometry plays a vital role in isolation, characterization, and sorting of stem cells. It helps in identification and quantification of specific cell surface markers to isolate stem cell populations. Flow cytometry allows verification of purity after cell sorting and differentiation studies.
Segment Analysis
The global flow cytometry market is dominated by cell-based flow cytometry segment. This segment is dominating as flow cytometry allows characterization and quantification of cells in heterogeneous populations according to their physical and chemical properties. It helps to distinguish cell populations based on cell size, granularity and the levels of fluorescent probes bound to specific cellular proteins or other characteristics.
PEST Analysis
Political: The market is positively impacted by increasing governmental funding for research activities in biotechnology and pharmaceutical sectors.
Economic: Developing economies are presenting lucrative opportunities for market players as they arewitnessing increased healthcare expenditure.
Social: Rise in prevalence of chronic and infectious diseases is propelling demand for advanced diagnostic tools like flow cytometry.
Technological: Technological advancements in flow cytometry like development of high throughput flow cytometers, development of compact flow cytometers are supporting market growth.
Key Takeaways
The Global Flow Cytometry Market Demand is expected to witness high growth in the forecast period.
Regional Analysis: North America region dominates the flow cytometry market currently due to presence of major market players and advanced healthcare infrastructure. The region is expected to continue its dominance in the coming years owing to rising cancer prevalence and increasing R&D investments by biotechnology and pharmaceutical companies.
Key players operating in the flow cytometry market are Google Inc., Apple Inc., Rethink Robotics, BAE Systems, Narrative Science Inc., Creative Virtual Ltd., Microsoft Corporation, Digital Reasoning Systems, Inc., and IBM Corporation. These companies are focusing on new product launches and collaborations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
