Number of pages: 100 | Report Format: PDF | Published date: 01 February, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market size value in 2021 |
US$ 6.0 billion |
Revenue forecast in 2030 |
US$ 24.27 billion |
Growth Rate |
CAGR of 15% from 2022 to 2030 |
Base year for estimation |
2021 |
Forecast period |
2022-2030 |
Historical Year |
2020 |
Segments covered |
Technology, Products, Application and Region. |
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global label free detection market was valued at US$ 6.0 billion in 2021 and is expected to witness a CAGR of 15% during the forecast period from 2022 to 2030.
Market Fundamentals
The term "label-free detection systems" refers to integrated systems used to study biomolecular interactions without reducing the labels or causing autofluorescence. These technologies enable the rapid and real-time discovery of novel medications. Label-free detection methods are used to detect biochemical and cell-based assays. The label-free detection technique is used to detect biomolecules and their interactions. This method has shown to be an excellent research and development tool for the biotech and pharmaceutical industries. The market will grow as a result of collaborations between pharmaceutical companies and academic institutions, as well as an increase in drug discovery programs. Label-free technology enables researchers to conduct studies using novel methodologies that solely provide end-point results. Labels have the potential to introduce items by inactivating or reducing the ability of the biomolecule of interest to interact.
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Market Dynamics
The expanding R&D activities in the pharmaceutical and biotechnology fields are propelling the global label-free detection market. Label free detection techniques are in great demand due to an increase in outsourcing pharmaceutical activities and R&D activities by academic institutions. Because they effectively manage the complexity of various signaling pathways, these approaches are in high demand. Furthermore, label free detection approaches avoid the use of autofluorescence and spatial interference, increasing their acceptance. Furthermore, the market is predicted to rise as a result of joint efforts by governments and private groups to hold seminars and raise awareness among end-users about the benefits of employing label-free detection techniques. In addition to the current situation, firms' continuous efforts to develop cutting-edge label free detecting techniques will help the industry flourish.
Market Ecosystem
The global label free detection market has been analyzed from four perspectives: Technology, Products, Application and Region.
Label Free Detection Market by Technology
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Based on technology, the global label free detection market is segmented into cellular dielectric spectroscopy, bio-layer interferometry, surface plasmon resonance, and optical waveguide grating technology. The surface plasma resonance dominated the market during the forecast period. Furthermore, the same segment is predicted to have the greatest CAGR in the market. This expansion is due to the technology's high sensitivity and widespread application in adjusting specificity, affinity, and kinetic parameters during macromolecule binding.
Label Free Detection Market by Products
Based on products, the global label free detection market has been segmented into instruments, consumables, biosensor chips, microplates. The consumables segment dominated the market during forecast period owing to the factors such as continuing breakthroughs in label free detection technologies and high consumption volumes in biopharmaceutical and biotechnology sectors.
Label Free Detection Market by Application
Based on application, the global label free detection systems have been segmented into binding thermodynamics, binding kinetics, hit confirmation, lead generation. The binding kinetics segment dominated the market during the forecast period due to the rising demand for medications with a broad therapeutic index, advances in structural biology, and increased R&D activities to detect coronavirus using a label free detection approach.
Label Free Detection Market by Region
Based on regions, the global label free detection market have been segmented into North America, Europe, Asia Pacific and the Rest of the World. North America dominated the global label free detection market in 2021. Positive regulatory and political conditions, an ever-increasing number of local biotech enterprises, and expanding demand for innovative biopharmaceuticals have all contributed to the rise in demand for label free detection devices. The trend is projected to continue due to the market's significant quantity of catch-up potential and the increased availability of biotech drugs. Increased funding for academic and public-sector research institutes is also driving demand for label free products in North America.
Moreover, the Asia Pacific is the fastest-growing region in the global label free detection market. Asian countries like China and India are predicted to expand at the fastest rates. Strict regulatory requirements in various industries are driving demand for sample analysis and quality control tools. Furthermore, investments in laboratory infrastructure are becoming increasingly appealing, particularly in China. Regional market growth is likely driven by government-supported efforts to stimulate innovation in healthcare industries. For the first time in 2021, China invested more in research and development than the United States, increasing its proportion of R&D spending.
Competitive Landscape
Some of the prominent market players in the global label free detection systems include:
Manufacturers continue pushing the bounds of sensitivity and throughput as knowledge of the benefits of label-free detection grows. Key market players are accelerating their R&D initiatives to produce unique products to achieve considerable growth in existing and new business categories. It also focuses on improving its position in key markets by introducing new product offerings.
Strategic Development
The global label-free detection systems market is expected to clock US$ 24.27 billion by 2030.
The global label-free detection systems market is expected to witness a CAGR of 15% during the forecast period from 2022 to 2030.
The consumables segment led the global label free detection market
Some of the prominent market players in the global label free detection market include Danaher Corporation, GE Healthcare, F. Hoffmann-La Roche Ltd., PerkinElmer Inc., Horiba Ltd., Agilent Technologies, Inc., Mettler Toledo, Corning Inc., Bioptix Inc., BioNavis Limited, and Attana AB.
The introduction of technologically advanced products and the rising number of drug discovery programs through academic-industrial partnerships are driving the global label free detection market.
*Insights on financial performance are subject to availability of information in the public domain
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