The major factors driving the growth of the Flow Cytometry Market are the technological advancements in flow cytometers, increasing adoption of flow cytometry techniques in research activities & clinical trials, the growing focus on immunology and immuno-oncology research, increasing incorporation of AI platforms in flow cytometry workflows & advancements in flow cytometry software, high incidence and prevalence of HIV-AIDS & cancer, and availability of novel application-specific flow cytometry products.
The bead-based flow cytometry segment is expected to grow at the highest CAGR during the forecast period. On the basis of technology, the global market is segmented into cell-based and bead-based flow cytometry. The bead-based flow cytometry segment is estimated to witness the highest growth during the forecast period. This technology offers various procedural advantages over other cell-based assays, such as the capacity to detect multiple analytes (also known as multiplexing), high reproducibility, stability, and speed.
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Reagents and consumables are expected to hold the largest share of the market in 2019: The market is segmented on the basis of products and services into reagents and consumables, instruments, services, software, and accessories. The reagents and consumables segment is expected to command the largest share of the global market in 2019. Factors such as the development and commercialization of high-quality application-specific reagents and assays and the continuous requirement of flow cytometry reagents by end users (due to the increasing number of flow cytometry-based research activities) are expected to drive the growth of the reagents and consumables market in the coming years.
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North America is expected to dominate the Flow Cytometry Market in 2019: Geographically, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to account for the largest share of the global market in 2019. The favorable business environment, continuously growing number of research activities, the rising number of drug discovery initiatives by US-based pharmaceutical & biotechnology companies, and the strong presence of key players are factors propelling the growth of the North American flow cytometry industry.
The major players operating in the Flow Cytometry Market are Becton, Dickinson and Company (US), Beckman Coulter, Inc. (US), Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Sysmex Partec GmbH (Germany), Luminex Corporation (US), Miltenyi Biotec GmbH (Germany), Bio-Rad Laboratories, Inc. (US), Sony Biotechnology, Inc. (US), Agilent Technologies, Inc. (US), bioMérieux S.A. (France), Enzo Life Sciences, Inc. (US), Stratedigm, Inc. (US), Cytonome/ST LLC (US), Cytek Biosciences (US), and Apogee Flow Systems Ltd. (UK).