“The global immunofluorescence assay market projected to grow at a CAGR of 5.8%.”
The immunofluorescence assay market is expected to reach USD 2.01 billion by 2023 from an estimated USD 1.51 billion in 2018, at a CAGR of 5.8%. The increasing prevalence of chronic diseases, increasing R&D spending, and increasing healthcare expenditure are the major factors driving the growth of the significant growth drivers of the immunofluorescence assay market. However, high cost of instruments and implementation of excise duty by the US government are expected to limit the growth of immunofluorescence assay market during the forecast period.
“The kits segment is expected to register the highest CAGR during the forecast period.”
On the basis of product, the immunofluorescence assay market is segmented into reagents, instruments, antibodies, kits, and consumables & accessories. The kits segment is expected to register the highest CAGR during the forecast period. The growth of this segment is primarily attributed to the increasing demand for complete solutions from a single-provider, the rising prevalence of a number of diseases, increasing R&D spending, and increased government funding for life science research.
“Indirect immunofluorescence segment dominated the market in 2017”
On the basis of type, the immunofluorescence assay market is segmented into indirect and direct immunofluorescence. The indirect immunofluorescence segment accounted for the largest share and it is also expected to register the highest CAGR during the forecast period. Factors contributing for its high growth include its advantages over direct immunofluorescence, such as sensitivity, flexibility, and lower cost.
“Cancer segment dominated the market in 2017”
Based on disease, the immunofluorescence assay market is segmented into cancer, infectious diseases, cardiovascular diseases, autoimmune diseases, and other diseases (kidney diseases, neurological diseases, skin diseases, gastrointestinal diseases, and oral diseases). In 2017, the cancer segment accounted for the largest share in the global immunofluorescence assay market owing to the increasing prevalence of cancer across the globe and the widespread adoption of immunofluorescence techniques for the study and diagnosis of cancer.
“Hospitals and Diagnostics is expected to grow at the fastest rate during the forecast period”
On the basis of end user, the immunofluorescence assay market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, hospitals and diagnostics centers, and contract research organizations (CROs). The hospitals and diagnostic centers segment is expected to register the highest CAGR during the forecast period owing to the increasing use of immunofluorescence assay in the diagnose or identify of various diseases.
“APAC is projected to witness the highest growth during the forecast period”
North America held the largest share of the global immunofluorescence assay market in 2017. On the other hand, the APAC region is expected to witness the highest CAGR during the forecast period, owing to the increasing R&D spending, rising prevalence of diseases, large population in countries such as China and India, improving healthcare infrastructure, increasing healthcare spending, and government initiatives in this region.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–35%, Tier 2–40% and Tier 3–25%
• By Designation – C-level–33%, Director Level–41%, Others–26%
• By Region – North America–35%, Europe–30%, Asia Pacific–21%, Rest of World–14%
The prominent players in the global immunofluorescence assay market are Thermo Fisher (US), Inova Diagnostics (US), Bio-Rad (US), Abcam (UK), PerkinELmer (US), Merck Millipore (US), Cell Signaling Technology (US), MEDIPAN GMBH (Germany), Sino Biological (China), Danaher (US), and Vector Laboratories (US).
The report analyzes the various immunofluorescence assay products and their adoption pattern. It aims at estimating the market size and future growth potential of the global immunofluorescence assay market for different segments such as product, type, disease, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the global immunofluorescence assay market
• Product Development/Innovation: Detailed insights on upcoming trends, research and development activities and product launches in the global immunofluorescence assay market
• Market Development: Comprehensive information on the lucrative emerging regions by product, type, disease, end user, and region
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global immunofluorescence assay market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and products of leading players in the global immunofluorescence assay market