(PharmaNewsWire.Com, May 13, 2020 ) The rising global incidence of chronic diseases, increasing vaccine development to address the challenge of antimicrobial resistance, and technological advancements in ELISpot and FluoroSpot assay kits and analyzers are driving the growth of Elispot and Fluorospot Assay Market. On the other hand, the availability of alternative detection technologies is expected to limit market growth during the forecast period.
How much is the Elispot and Fluorospot Assay Market Market worth?
The ELISpot and FluoroSpot market is projected to reach USD 287 million by 2023 from USD 135 million in 2018, at a CAGR of 16.2%. Increasing incidence of chronic diseases and increasing focus on vaccine development is driving the growth of this market. Asia pacific is expected to register the highest growth rate during the forecast period majorly due to the large patient population and high prevalence of chronic diseases in this region.
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.
Hospitals and clinical laboratories are expected to be the largest end users in the ELISpot and FluoroSpot market in 2018
By end user, the ELISpot and FluoroSpot market is segmented into hospitals & clinical laboratories, research institutes, and biopharmaceutical companies. The hospitals & clinical laboratories segment is expected to account for the largest market share in 2018 while the research institutes segment is projected to grow at the highest CAGR during the forecast period. The growing patient population and the improving healthcare infrastructure in developing countries are some of the key factors driving the growth of the hospitals & clinical laboratories segment.
North America to command the largest share of the ELISpot and FluoroSpot market in 2018
This report covers the market across four major geographies, namely, North America, Europe, AsiaPacific, and the Rest of the World (RoW). Of the four geographic regions studied in the report, Asia Pacific is expected to register the highest growth rate during the forecast period majorly due to the large patient population and high prevalence of chronic diseases in this region.
The ELISpot and FluoroSpot market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). While North America is expected to dominate the market in 2018, Asia Pacific is expected to register the highest CAGR in the market during the forecast period. Growth in APAC is largely driven by the large patient population and high prevalence of chronic diseases in this region.
Leading Companies
The major players in the market include Oxford Immunotec (UK), Cellular Technologies (US), Mabtech (Sweden), Becton, Dickinson and Company (US), and Abcam (UK).
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