Custom Assays Market Projected to Grow Rapidly During 2017-2027

Custom assay services, now a days, are highly trending among life sciences and biotechnology industries due to its cost effective and fit-for purpose nature. Custom assay are specifically designed biochemical or cell based assays provided by the manufacturers of assay kits upon request by the customer to satisfy their purpose or needs. Custom assay provide easy solution to the academic as well as industrial laboratories for qualitative as well as quantitative determination of various biological analytes such as proteins, enzymes, antibodies, biomarkers, antigens etc. Custom assay services are highly beneficial in biotechnology industries for genotyping, HLA tissue typing etc. where quick turn-around time is desired to screen large number of samples and avoid the wastage of chemicals & resources. Introduction of customized multiplex assays is further expected to cut-down the requirement of time and money in the complicated biological assays. Customized assays are also used in the research institutes, diagnostic laboratories, and contract research organizations for analysis of clinical parameters during new drug development or development of new treatment. Customized cell-based assays are used in cancer research institutes, government institutes, forensics, etc. Custom assays are also used in the pharmaceutical and food industries for quality testing.

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.

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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:

Activity Assays

Competitive Assays

ELISA Assays

Sandwich Assays

Screening Assays

Others (conjugation assay, etc.)

Based on technology, the custom assay market is divided into following:

Flow Cytometry

Membrane Based/Planar Assays

Suspension/ Bead Based Assays

Others

Based on retail end user, the laboratory filtration devices market is segmented as below:

Academic and Research Institutes

Life Science Industries

Biotechnology Companies

Diagnostic Centers

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

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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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This release was published on openPR.