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Label-Free Detection Systems Market - Key Growth Factors and Industry Analysis 2020
Label-free detection systems may be used to detect both biochemical and cell-based assays. High acceptance rate for the use of this technology in pharmaceutical and biotechnology sector due to various advantages involved with the process are driving the global label-free detection systems market. On the basis of applications, label-free detection systems market may be segmented into binding thermodynamics, hit confirmation, binding kinetics, lead generation, endogenous receptor detection and others. Out which binding kinetics segment has the largest market.
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On the basis of technology used, surface plasmon resonance technology segment has the largest share in the global label-free detection systems market. However, bio-layer interferometry segment is expected to grow at the fastest rate. This is due to less fluctuation in the refractive index of the samples being tested and microfluidic-free nature of bio-layer interferometry label-free detection systems. North America dominates the global label-free detection systems market due to technological advancement and high government funding in the region. Europe followed by Asia is expected to experience high growth rate in the next few years in global label-free detection systems market. Some of the key driving forces for label-free detection systems market in emerging countries are increasing R&D investment, large pool of patients and rising government funding.
Increased R&D investments in drug discovery from various pharmaceutical and biotechnology companies, rising government funding and growing number drug discovery programs by various academic institutions is driving the global label-free detection systems market. However, high cost involved and increasing consolidation of pharmaceutical and biotechnology companies are restraining the growth of global label-free detection systems market.
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Increasing adoption rate for label-free technology in various industries is expected to offer good opportunity for growth of label-free detection systems market. In addition, advancement in the features offered in label-free detection systems, such as lower analysis time and higher sensitivity is expected to drive the label-free detection systems market. Some of the key trends that have been observed in label-free detection systems market are major companies dealing in label-free detection market involved in expanding their geographical presence and new product launches with innovative technologies. Some of the major companies dealing in label-free detection systems market are Bio-Rad Laboratories, Inc., General Electric Corporation, Corning, Inc., PerkinElmer Inc., SRU Biosystems, Inc. and X-BODY Biosciences, Inc. Other market players with significant presence are CSEM (Centre Suisse d'Electronique et Microtechnique SA), BiOptix, AMETEK, Inc, Attana AB, Danaher Corporation, Pall Corporation and F. Hoffmann-La Roche Ltd.
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