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Report Code: LS10309
Category : Biotechnology
The global label free detection market is growing significantly due rise in contract research organization in emerging economies, and increasing government funding and grants in the industry. Increasing drug discovery programs through research partnerships between pharmaceutical companies and academic institutes are also supporting the growth of the market. Massive unexplored market in label free detection industry of developing economies are creating significant opportunities for the label free detection market to grow during the forecasted period.
Moreover, the advanced research and development facilities, and new and innovative product developments by the companies are also propelling the growth of the label free detection industry. Label free technologies are mainly used in drug discoveries and detection of molecular interactions. It is a highly precise method for the recognition of endogenous targets in cell assay.
The label free detection market is categorized on the basis of technology, application, products and end users. On the basis technology of label free detection, the market can be categorized as optical waveguide grating technology, surface plasmon resonance, cellular dielectric spectroscopy, bio-layer interferometry and others technologies. Surface plasmon resonance leads the market, as this technology is highly employed in drug discovery and development for getting into molecular binding mechanism and biological processes. Whereas, bio-layer interferometry is expected to grow at fastest rate due to increasing usage of technology in lifescience research for ligand binding studies. Based on application, the label free detection market can be segmented as lead generation, binding kinetics, hit confirmation, endogenous receptors detection, binding thermodynamics, and others.
On the basis of products, the market is segmented as consumables and instruments. Instruments lead the market, in terms of size, due to increasing purchase of instruments in pharmaceutical and biotechnology companies; whereas, consumables are expected to grow at faster rate due to advancement in drug discovery. Consumables include biosensor chips and microplates. Moreover, on the basis of end users, the market is categorized as academic research institutes, contract research organization, pharmaceutical and biotechnology companies, and others. Pharmaceutical and biotechnology companies lead the market, whereas contract research organizations are expected to grow at fastest rate due to increasing outsourcing of drug dioscovery.
Some of the factors driving the growth of global label free detection market are increasing research and development budgets of pharmaceutical companies, increasing pharmaceutical outsourcing, increasing biomolecular interaction analysis in drug discovery, intrinsic advantages of label free detection over alternative technologies, such as flow cytometry, and ELISA, and increasing drug discoveries programs. However, lack of skilled professionals, and high cost of instruments are some of the factors restraining the growth of the global label free detection market.
Geographically, North America will be leading the global label free detection market in the coming years, due to increasing research and development spending. Asia-Pacific is the fastest growing region in the global label free detection market. The major reasons for the fastest growth of label free detection market in the region are increasing healthcare expenditure, improving healthcare infrastructure, increasing research and development funding, and large pool of patients in the region. Moreover, the label free detection market is growing due to increasing awareness of healthcare in the emerging countries, such as India and China, of Asia-Pacific region.
Some of the companies operating in the global label free detection market are Pall Corporation, Roche Diagnostics, Bio-Rad Laboratories, Inc., General Electric, X-Body Biosciences, Ametek, Inc., Bioptix, Corning, Inc., Attana AB, Danaher Corporation, and Perkinelmer, Inc.