(PharmaNewsWire.Com, March 12, 2021 ) The global immunofluorescence assays market is projected to reach USD 3.5 billion by 2026 from USD 2.6 billion in 2021, at a CAGR of 6.0% during the forecast period.
The growth in this market is primarily attributed to the increasing prevalence of chronic diseases and rising R&D spending & healthcare expenditure. Emerging markets are expected to provide growth opportunities for players operating in the immunofluorescence assays market in the coming years. However, quality concerns over antibodies are the major challenge in this market.
The growth in this market is primarily attributed to the increasing prevalence of chronic diseases and rising R&D spending & healthcare expenditure. Emerging markets are expected to provide growth opportunities for players operating in the immunofluorescence assays market in the coming years. However, quality concerns over antibodies are the major challenge in this market.
The kits segment accounted for the highest growth rate in the Immunofluorescence assay market, by product, during the forecast period
The Immunofluorescence assay market is segmented into reagents, instruments, antibodies, kits, and consumables and accessories. The kits segment accounted for the highest growth rate in the Immunofluorescence assay market in 2020. The demand for complete solutions from a single provider, like closed-system reagents with calibrated measurements of the required quantity of reagents and controls, among CROs, academic institutes, and research institutes is growing, contributing to this segment's high growth rate.
Indirect immunofluorescence segment accounted for the highest CAGR
Based on type, the immunofluorescence assays market is segmented into indirect immunofluorescence and direct immunofluorescence. In 2020, indirect immunofluorescence accounted for accounted for the highest growth rate. The major factors driving the growth of this segment are its advantages such as sensitivity, flexibility, better amplification of the signal, and lower cost over direct immunofluorescence.
Cancer accounted for the largest share of the immunofluorescence assay market in 2020
Based on disease, the immunofluorescence assays market is segmented into cancer, infectious diseases, autoimmune diseases, cardiovascular diseases, and other diseases. The cancer accounted for the largest share of the global immunofluorescence assays market. The large share of this segment can be attributed to the increasing prevalence of cancer globally and the widespread adoption of immunofluorescence techniques for the study and diagnosis of cancer.
Pharmaceutical & biotechnology companies accounted for the largest share of the immunofluorescence assay market in 2020
Based on end user, the immunofluorescence assays market is segmented intopharmaceutical & biotechnology companies, academic & research institutes, hospitals & diagnostics centers, and contract research organizations. The pharmaceutical & biotechnology companies accounted for the largest share of the global immunofluorescence assays market. The increasing use of this technology in the study of various diseases and drug discovery & development processes are driving the growth of this segment.
North America accounted for the largest share of the immunofluorescence assay market in 2020
The immunofluorescence instruments market is divided into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the global immunofluorescence assays market. The large share of the North American region is mainly attributed to the rising incidence of chronic & infectious diseases, increasing R&D spending, increasing research activities, favorable government funding opportunities, and the presence of major key players in the region
Key Market Players
Some of the major players operating in this market are Thermo Fisher Scientific (US), Merck KGaA (Germany) and Danaher Corporation (US). In 2019, Thermo Fisher Scientific held the leading position in the immunofluorescence assay market. The company also has a strong geographic footprint, serving over 400,000 customers through pharmaceutical and biotechnology companies, hospitals and clinical diagnostic laboratories, universities,research institutions, and government agencies.Merck KGaA held the second position in the immunofluorescence assay market in 2019.
Recent Developments:
In 2020, Merck KGaA invested EUR 18 million (USD 21.09 million) to build a new Life Sciences Laboratory in Buchs, Switzerland, to accelerate and support research and development, analytical production, and quality control. In 2019, Thermo Fisher Scientific, Inc. launched the fully automated EVOS M7000 microscope.
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