New York, Feb. 16, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Label Free Detection Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Instruments and Consumables), Technology (Surface Plasmon Resonance, Bio-Layer Interferometry, Isothermal Titration Calorimetry, Differential Scanning Calorimetry, and Other LFD Technologies), Application (Binding Kinetics, Binding Thermodynamics, Endogenous Receptor Detection, Hit Confirmation, Lead Generation, and Other Applications), and End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Contract Research Organizations, and Other End Users)”. The label free detection market growth is driven by the introduction of high-tech products and growing number of drug discovery programs through academic–industrial partnerships.
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| Report Coverage | Details |
| Market Size Value in | US$ 474.82 Million in 2021 |
| Market Size Value by | US$ 829.71 Million in 2028 |
| Growth rate | CAGR of 8.3% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 198 |
| No. Tables | 110 |
| No. of Charts & Figures | 82 |
| Historical data available | Yes |
| Segments covered | Product, Technology, Application, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Label Free Detection Market: Competitive Landscape and Key Developments
General Electric; Perkin Elmer, Inc.; AMETEK Inc.; F. HOFFMANN-LA ROCHE LTD; Spectris; METTLER TOLEDO; Agilent Technologies, Inc.; Waters Corporation; Sartorius AG; Corning Incorporated are among the key companies operating in the label free detection market. Leading players are adopting strategies such as the launch of new products, expansion and diversification of their market presence, and acquisition of new customer base for tapping prevailing business opportunities.
For instance, in July 2018, Sanofi, announced to establish a global research and development operations hub in Chengdu, China. Sanofi plans to use the hub to tackle therapeutic areas, including vaccines, immunology and inflammation, and cardiovascular diseases.
On March 2021, The Life Science Group Sartorius launched the new high-performance Octet R series of systems, the latest improvement in the company’s line of label-free analytical products.
Asia Pacific label free detection market held the largest share of the overall market in 2021. This region's growth is due to the proliferating technological progress and the great government funding in the region. The development of drug discovery programs is further propelling the growth of the label free detection market in the Asia Pacific region. Over the years, China’s pharma industry has moved from a primary focus on generics manufacturing and copy-cat drugs to research & development of innovative treatments. Furthermore, the North American region is estimated to have the fastest CAGR rate over the forecast period 2021-2028. This growth is owing to factors like societies supporting the research at molecular level, growing number of drug discovery programs, higher sensitivity of label free method. For instance, American Chemical Society (ACS), and Society of Toxicology (SoT) are few among other organizations supporting the research on label free technique.
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The label free detection market, based on product, is segmented into instruments and consumables. In 2021, the consumable segment is likely to hold the largest share of the market. Moreover, the same segment is expected to grow at the fastest CAGR during the forecast period, owing to the factors such as continuous advancements in label free detection technologies, and rising government investments to advance the developments in biopharmaceutical, and biotechnology sectors. Based on technology, the label free detection market is segmented into surface plasmon resonance, bio-layer interferometry, isothermal titration calorimetry, differential scanning calorimetry, and other LFD technologies. The surface plasmon resonance technology segment is likely to hold the largest share of the market in 2021 and the same segment is estimated to register the highest CAGR in the market during the forecast period. This growth is owing to the great sensitiveness of this technology and its extensive application in regulating specificity, affinity, and kinetic parameters at the time of the binding of macromolecules. Based on application, the label free detection market is segmented into binding kinetics, binding thermodynamics, endogenous receptor detection, hit confirmation, lead generation, and other applications. In 2021, the binding kinetics segment is likely to hold the largest share of the market. Moreover, the same segment is expected to witness fastest CAGR during 2021 to 2028. The factors attributing the growth of this segment are rising need of drugs with broad therapeutic index, advancements in structural biology and growing R&D activities to detect corona virus with label free detection method. Based on end user, the label free detection market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, contract research organizations and other end users. In 2021, the pharmaceutical and biotechnology companies segment is likely to hold the largest share of the market. Moreover, the same segment is expected to witness growth in its demand at a fastest CAGR during 2021 to 2028
Increasing Life Science Research Opportunities in Emerging Countries Fuel Market Growth:
Growth in the Asian economies, particularly China and India, along with increased investments in biotechnology and drug discovery, are the major factors driving the label-free detection market in Asia. Most Asian countries do not possess established business models but have the scientific talent to develop strong local biotechnology industries. Hence, the number of mergers, collaborations, and partnerships is rising in these emerging countries. For instance, In July 2018, Ferring Pharmaceuticals (Switzerland) laid the foundation for its R&D laboratory and manufacturing facility at Genome Valley, Hyderabad, India. These are the key factors anticipated to propel the label free detection market during the forecast period.
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Label Free Detection Market: Product Overview
Based on product, is segmented into instruments and consumables. In 2021, the consumable segment is likely to hold the largest share of the market. Moreover, the same segment is expected to grow at the fastest CAGR during the forecast period. Consumables used in the label free detection market comprise microplates, sample tubes & tips, biosensor chips, software etc. A successful detection requires every element of the process to go smoothly. For instance, the sensor chips are made of a high refractive index glass prism coated with a gold thin film specially developed for imaging purposes.
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