(PharmaNewsWire.Com, March 20, 2020 ) The report "ELISpot and FluoroSpot Assay Market by Product (Assay Kit (T Cell and B Cell assay), Analyzer, Ancillary Products), Application (Transplant, Vaccines, Clinical Trials, Cancer), End User (Hospital, Labs, Research Institute) - Global Forecast to 2023", The ELISpot and FluoroSpot market is expected to reach USD 287 million by 2023 from USD 135 million in 2018, at a CAGR of 16.2%.
“Assay kits are projected to dominate the ELISpot and FluoroSpot market in 2018” By product type, the ELISpot and FluoroSpot market is segmented into assay kits, analyzers, and ancillary products. The assay kits are further subsegmented by utility, type, and analyte. In 2018, the assay kits segment is expected to account for the largest share of the market. The rising incidence of chronic diseases and technological advancements are driving the growth of this product segment.
“Diagnostic applications to hold the largest share of the market in 2018” Based on the applications, the ELISpot and FluoroSpot market is segmented into diagnostic and research applications. In 2018, the diagnostic applications segment is expected to account for the larger share of the ELISpot and FluoroSpot market in 2018. The large share of this segment can be attributed to the rising global prevalence of infectious diseases and the increasing use of ELISpot kits for disease diagnosis.
Oxford Immunotec is the leading player in the ELISpot and FluoroSpot market. The company focuses on the development of diagnostic kits for the early detection of diseases such as TB and tick-borne diseases. The company has its presence across the globe and to maintain and improve its presence in the market; Oxford Immunotec adopted both organic as well as inorganic strategies. The company also invests a significant amount on research and development activities. In 2017, it spent around 16% of its revenue on R&D activities, which is higher than most of its counterparts.
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