Custom Assays Market to Register Substantial Expansion by 2027
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Custom Assays Market: Drivers and Restraints
Custom assays market is expected to be driven by increasing research and development activities in life science and biotechnology industry and growing number of academic and research institutes across the globe. Moreover, increasing demand for tissue diagnostic and cell based diagnostics for cancer, HIV, and infectious diseases is expected to fuel the global demand for custom assay products over the forecast period. Availability of custom assay and bulk purchase contracts for huge number of biological samples being screened is proving cost effective for biotechnological companies. Emerging biochip technology would create good opportunity for custom assay providers in the global market. However, challenges in assay optimization and standardization are some of the factors restricting the growth of global custo assay market.
Custom Assays Market: Segmentation
Tentatively, the global custom assay market has been segmented on the basis of assay type, end user, and geography.
Based on assay type, the global custom assay market is divided into following:
Others (conjugation assay, etc.)
Based on technology, the custom assay market is divided into following:
Membrane Based/Planar Assays
Suspension/ Bead Based Assays
Based on retail end user, the laboratory filtration devices market is segmented as below:
Academic and Research Institutes
Life Science Industries
Contract Research Organizations
Food and Beverage Companies
Custom Assays Market: Overview
The global market for custom assay is highly fragmented with presence of local and regional players. However, global players are expected to account for over 50% of the share in the global market. Based on assay type, custom ELISA assays are expected to contribute highest share in the global market owing to huge applications of ELISA assays in different industries. Based on end user, biotechnology industries and diagnostic centers are expected to hold considerable share in the global market for custom assays. Requirement of minimum skills and cost-saving products are the factors contributing high demand for custom assay products in academic and research institutes across the globe.
Custom Assays Market: Regional Wise Outlook
Geographically, global custom assays market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. The market in Asia Pacific and Japan is expected to grow at significant CAGR due to growing number of research institutes in countries such as India, Australia and Japan. North America will continue to hold largest share in the custom assays market as majority of the best academic and research institutes are located in the U.S. which are culture positive to innovation. Europe is expected to take second largest share in the global custom assay market due to large number of global players operating in Europe.
Custom Assays Market: Key Players
Some of the major players in the global custom assay market are Promega Corporation, Bioassay Systems, Sigma-Aldrich Inc. (Merck KGaA), Thermo Fisher Scientific Inc., R & D Syatems Inc. (Biotechne Inc.), Fluidigm, Luminex Corporation, F. Hoffmann-La Roche AG, QIAGEN N.V, Quansys Bioscience, BD Biosciences and others. Companies often provide custom assay services, where user can define their requirements and specifications and assay is built accordingly by the manufacturer.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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