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The requisite for disease diagnosis and advancements in technology of flow cytometry, in turn are expected to fuel growth of the flow cytometry market over the forecast period. Manufacturers are focusing on technological innovations in flow cytometry to tap into the emerging markets. For instance, in August 2017, Beckman Coulter Life Sciences received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its latest clinical flow cytometry product, the Navios EX flow cytometer, to be used in the clinical laboratories in the U.S. Furthermore, Sysmex America, Inc. in October 2017, launched CyFlow Antibodies, a comprehensive portfolio of Analyte Specific Reagent (ASR) antibodies for usage in flow cytometry applications, as a part of its initiative to offer cutting-edge clinical laboratory products.
Moreover, major players are focusing on the product launches for enhancing their product portfolio and to strengthen their market positions. For instance, in June 2019, Becton, Dickinson and Company (US) launched its FlowJo software version 10.6 for flow cytometry data analysis that can be further integrated with BD FACSDiva for enhancing its capabilities to analyze multiple flow cytometry runs and compare data in a single view.
The global flow cytometry market was valued at US$ 3,886.1 million in 2018 and is expected to exhibit a CAGR of 10.2% over the forecast period (2019-2027).
Figure 1. Global Flow Cytometry Market Value (US$ Mn), by Region, 2018
Source: Coherent Market Insights Analysis (2020)
Introduction of new products by the major players is expected to drive growth of the market over the forecast period.
Major market players are focused on product launches in the market, which is expected to boost the market growth over the forecast period. For instance, in March 2017, Cytek Biosciences Inc., a manufacturer and supplier of flow cytometry products and services launched its DxP Athena flow cytometry system. The system is compact, powerful, easy-to-use cell analyzer that are typically only found in conventional instruments that come with a much higher price tag. The DxP Athena makes the benefits of flow cytometry which are more readily available to larger number of researchers by its compact size.
Furthermore, in April 2018, Merck KGaA launched its new Cell Stream benchtop flow cytometry system, a compressed, customizable flow cytometer that uses a camera for detection of the specimen. It is a unique optics system and this design offers researchers with unparalleled sensitivity and flexibility, when analyzing cells and submicron particles. This launch helped the company to expand its product line in flow cytometers.
Figure 2. Global Flow Cytometry Market Share (%), by Technology,2019 and 2027
Source: Coherent Market Insights Analysis (2020)
Global Flow Cytometry Market- Regional Insights
North America is expected to hold a dominant position in the market, owing to large healthcare industry in the region. To retain its position in the market, key players are focused on launching new products in the region. For instance, in September 2017, Beckman Coulter, Inc. (U.S.), launched their first flow cytometry CytoFLEX LX for the cancer researchers, which has the visible spectrum in a standard configuration. This launch helped in expanding its business in flow cytometry.
Moreover, Europe is expected to hold the second largest market share over the forecast period, owing to product launches in the European market. For instance, In September2017, Miltenyi Biotec GmbH (Germany) launched a fully automated high-throughput flow cytometry MACSQuant X which handles 384-well plates in less than 60 minutes giving users fast, reliable, and reproducible results. Launching these products has expanded the flow cytometry product line of company.
Moreover, Asia Pacific is expected to witness significant growth in the market, owing to rising cases of cancers in the region. For instance, according to the World Health Organization (WHO), in 2018, there were 3.9 million number of prevalent cases for cancers and 2.0 million number of new cancer cases are reported each year in the Asia Pacific.
Key Players
Major players operating in the global flow cytometry market include Becton Dickinson and Company, General Electric Company, Luminex Corporation, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Miltenyi Biotec GmbH, Merck & Co Inc., Sysmex Corporation, Agilent Technologies, Inc., and Danaher Corporation.
Flow cytometry is a laser-based or impedance-based biophysical technology employed in cell counting, cell sorting, biomarker detection, and protein engineering. The process is conducted by suspending cells in a stream of fluid and passing them through an electronic detection apparatus. The simultaneous multiparametric analysis of the physical and chemical characteristics of particles is facilitated by a flow cytometer at a speed of up to thousands of particles per second. The process is used in the diagnosis of health disorders such as blood cancers along with several applications in basic research, clinical practice, and clinical trials. Flow cytometry facilitates study of the expression of cell surface and intracellular molecules along with characterization of different cell types in a heterogeneous cell population. Moreover, flow cytometry also allows simultaneous multi-parameter analysis of single cells. The combination of technological improvements, growing research activities in life science, and increasing clinical application of flow cytometry in diagnosis of HIV and cancer are some of the major factors that are expected to drive growth of the flow cytometry market over the forecast period.
Flow cytometry is continuously going through new developments with availability of robust photodetectors and new laser emitters, use of LED lamps as emitter, and changes in analytical capacity (multidimensional analysis software). Furthermore, new approaches combining existing technologies with routine laboratory procedures, such as imaging, which capture of images of cells possible in real time as they pass by the interrogation point are some of the major advancements in flow cytometry. The process also finds application in cytology, hematology, immunology, and microbiology, among other research fields. For instance, in June 2019, Agilent Technologies, Inc. introduced its Agilent NovoCyte Advanteon flow cytometer, developed by the ACEA Biosciences. The product enhanced the limitations of benchtop flow cytometry by providing better performance than other flow cytometers.
Market Dynamics
Flow cytometry is quite an unexplored field, which is rapidly advancing due to technological advancements in the recent past. The increasing FDA approval for various clinical test favors the growth of flow cytometry market in near future. For instance, in 2017 the use of flow cytometer in detection of leukemia & lymphoma cancers was approved by U.S. Food Drug & Administration (FDA). Therefore, rising prevalence of HIV and cancer are expected to drive growth of the market over the forecast period. For instance, according to the Leukemia & Lymphoma Society (LLS), in 2019, there were around 76,200 people in the U.S. who are expected to be diagnosed with leukemia, lymphoma or myeloma cancers.
Market players are focused on launching technologically advanced products in the market, which is expected to fuel the market growth over the forecast period. For instance, in March 2019, BD (Becton, Dickinson and Company) launched BD FACSDuet, an automated flow cytometry system. The product is CE-IVD certified which enables clinical laboratories to improve their efficiency by reducing errors and limiting the manual user interactions required to run assays on the BD FACSLyric clinical flow cytometer.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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