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Oct 5, 2020 10:00 AM ET

Global Label-Free Array Systems Market Is Set For Moderate Growth, To Reach Around USD 1.9 Billion by 2025

iCrowd Newswire - Oct 5, 2020

Zion Market Research has published a new report titled “Label-Free Array Systems Market by Technology (Bio Layer Interferometry, Surface Plasmon Resonance, Cellular Dielectric Spectroscopy, and Other Technologies); by Application (Antibody Characterization and Development, Protein Complex and Cascade Analysis, Protein Interface Analysis, Drug Discovery and Other Applications); by End User (Contract Research Organizations, Academic and Research Institutes, Biotechnology and Pharmaceutical Companies and Other End Users): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for label-free array systems market was valued at approximately USD 1.2 billion in 2018, and is expected to generate revenue of around USD 1.9 billion by end of 2025, growing at a CAGR of around 6.9% between 2019 and 2025.

Label-free detection methods are widely used to study molecular interactions over traditional label-based detection methods. Label-free detection has gained importance in applications where detection using labels can compromise the target function. For example, fluorescent labels may compromise the protein function. Label free methods allow real-time determination of dissociation and association rates of interacting molecules. Interferometry, surface plasmon resonance (SPR), diffraction, quartz crystal microbalance etc. are different techniques that are used for label-free detection. Surface plasmon resonance (SPR) is most commonly used technique for label-free array systems.

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The global label-free array systems market growth is fuelled by various factors such as growing number of drug discovery projects and increasing preference for personalized or precision medicine. Additionally, emphasis by major players on development of novel drug targets for treatment of various chronic diseases, and increasing investments in R&D support the growth of label-free array systems market. However, high cost of label-free array systems and alternative label free technologies like microarrays, mass spectrometers, biochips may impede the label-free array systems market growth over the forecast period. Technological advancements are anticipated to open new growth avenues for key market players in the global label-free array systems.

The label-free array systems market is segmented based on application, end user, technology and region. Based on technology, global market is segmented into surface plasmon resonance (SPR), bio layer interferometry, cellular dielectric spectroscopy, and other technologies. Surface plasmon resonance (SPR) segment held largest market share in 2018 and will also register fastest growth in the coming years. Surface plasmon resonance can be used as alternative to dual or single color labeling detection techniques and thus is widely used technique.

Based on application, label-free array systems market is categorized into antibody characterization and development, drug discovery, protein complex and cascade analysis, protein interface analysis and other applications. Drug discovery application segment dominated the market in 2018 due to growing R&D activities and investments for novel drug development activities. A rapid growth is projected for antibody characterization and development segment over the forecast period due to growing demand for monoclonal antibody.

Contract research organizations, biotechnology and pharmaceutical companies, academic and research institutes and others are end users of the label-free array systems market. The market was dominated by biotechnology and pharmaceutical companies with largest revenue share in 2018 owing to growing investments on drug discovery projects and R&D. Contract research organizations are projected to witness fastest growth over the forecast period owing to growing demand for outsourcing services for clinical trials and drug development.

At regional level, North America held dominating market share in 2018 for the global label-free array systems market. This large share is attributed to growing investments for novel target identification and drug discovery by key biotechnology and pharmaceutical companies and growing demand for personalized medicine. Europe was second leading regional market. Increasing focus on novel therapy development, availability of funds, growing number of drug discovery projects, increasing demand for monoclonal antibodies are major factors that support the market growth in this region. Latin America is projected to register moderate growth during the forecast period. Asia Pacific is estimated to exhibit fastest growth for label-free array systems market during the forecast period. This fast growth is due to various factors including emphasis of key pharmaceutical players on capturing growth opportunities in emerging countries, increasing R&D investments and rapid growth in CRO industry in China, India etc. Middle East and Africa is projected to exhibit considerable growth in coming years.

Major players included in the report are Molecular Devices LLC, PerkinElmer, ForteBio, GWC Technologies, Eppendorf AG, F.Hoffman La Roche, Bioptix Inc., Biorad Laboratories, Attana AB, Biacore (GE Healthcare), and Agilent Technologies among others.

The report segment of global label-free array systems market as follows:

Global Label-Free Array Systems Market: By Technology

Global Label-Free Array Systems MarketBy Application

Global Label-Free Array Systems MarketBy End User

Global Label-Free Array Systems Market: By Region

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Keywords:    Label-Free Array Systems Market

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