Growth in the flow cytometry market is largely driven by the rising global incidence and prevalence of HIV/AIDS and cancer, growing adoption of flow cytometry techniques in research and academia, growing public-private initiatives in the fields of immunology and immuno-oncology research, technological advancements, increasing incorporation of AI platforms in flow cytometry workflows, and increasing advancements in flow cytometry software. However, the high cost of flow cytometry products is a major factor hampering the growth of the market.
The flow cytometry market is projected to reach USD 6.3 billion by 2026 from USD 4.3 billion in 2021, at a CAGR of 8.1%.
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The prominent players in the global flow cytometry market include Becton, Dickinson and Company (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Luminex Corporation (US), Agilent Technologies, Inc. (US), Sony Group Corporation (Japan), Bio-Rad Laboratories, Inc. (US), Miltenyi Biotec GmbH (Germany), Enzo Biochem, Inc. (US), Sysmex Corporation (Japan), bioMérieux S.A. (France), Cytonome/ ST, LLC (US), Sartorius AG (Germany), Cytek Biosciences, Inc. (US), Union Biometrica, Inc. (US), Apogee Flow Systems Ltd. (UK), Stratedigm, Inc. (US), NanoCellect Biomedical, Inc. (US), On-chip Biotechnologies, Co., Ltd. (Japan), NEXCELOM BIOSCIENCE LLC (US), BennuBio Inc. (US), ORFLO Technologies (US), Bay Biosciences Co., Ltd. (Japan), BioLegend, Inc. (US), and CytoBuoy B.V (Netherlands). The analysis of market developments between 2018 and 2021 revealed that product launches and enhancements and acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the flow cytometry market. Product launches and approvals were the most widely adopted growth strategies by market players.
BECTON, DICKINSON AND COMPANY (US)
BD is the leading player in the flow cytometry market. The company offers a significant number of products and consistently backs product launches with technological innovation. The company’s focus on innovative, user-friendly software solutions on flow cytometry has helped maintain its dominant position in the market.
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DANAHER CORPORATION (US)
Danaher Corporation is one of the leading players in the flow cytometry market. It operates in the nuclear medicine market through its Beckman Coulter subsidiary. This company primarily strategizes its growth through acquisitions, key collaborations, and product launches. Beckman Coulter significantly contributes to Danaher’s revenue through innovative research, advancement, expansion, and the launch of novel flow cytometry products. The company has a significant number of product launches and acquisitions in the flow cytometry market, especially in 2019 and 2020. This indicates the company’s focused strategy to emerge as a leader in this market in the near future