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Label-free Detection Market worth $863 million | MarketsandMarkets

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Label-free Detection Market worth $863 million | MarketsandMarkets

December 07
00:25 2023
Label-free Detection Market worth $863 million | MarketsandMarkets
Label Free Detection Market by Product & Service (Instruments, Consumables (Biosensor Chips, Microplates), Software), Technology (Surface Plasmon Resonance), Application (Hit Confirmation, Lead Generation), End User (Pharma, CROs) & Region – Global Forecast to 2028
Label-free Detection Market in terms of revenue was estimated to be worth $570 million in 2023 and is poised to reach $863 million by 2028, growing at a CAGR of 8.7% from 2023 to 2028 according to a new report by MarketsandMarkets™.

Label-free Detection Market in terms of revenue was estimated to be worth $570 million in 2023 and is poised to reach $863 million by 2028, growing at a CAGR of 8.7% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is driven by rising prevalence of target diseases and disorders, the availability of funding for life science research and development, effectiveness of label-free technology in drug discovery. Additionally, the technological advancement in label-free detection leading to expanded applications and adoption of label-free detection products.

The instrument segment accounted for the largest share, by product & service in the label-free detection market in 2022.

By type, the label-free detection market has been further categorized as instruments, consumables, and software & services. The instrument segment held the largest share of the global label-free detection market in 2022. This can be attributed to Increasing R&D and the growing launches of label-free detection instruments. Label-free detection instruments are widely adopted by drug discovery researchers for applications such as kinetic studies, lead optimization, and pathway analysis. The use of labels in traditional drug discovery has been shown to cause undesirable and unanticipated interactions. Additionally, labeled technologies typically require the use of genetically modified cell lines, which can alter cellular behavior and can lead to false conclusions. These advantages are overcome by adoption of label free technologies.

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The surface plasmon resonance segment accounted for the largest share of the technology segment in the label-free detection market in 2022.

Based on technology, the global label-free detection market has been segmented into surface plasmon resonance, differential scanning calorimetry, bio-layer interferometry, isothermal titration calorimetry, and other label-free detection technologies. The surface plasmon resonance segment held the largest market share in 2022. The large share of this segment can be attributed to high sensitivity of this technology and its wide usage in determining specificity, affinity, and kinetic parameters during the binding of macromolecules.

The North America region catered the largest share of the label-free detection market in 2022.

The label-free detection market in North America has experienced significant growth in recent years, showcasing a robust expansion trajectory, owing to the well-established research infrastructure, strong pharmaceutical and biotech industry, increasing government support for life science research, technological advancements in label-free technologies, and collaborative initiatives contribute to the growth of the label-free detection market in the North America region. Additionally, rising research activity, increasing support for research from the public and private sectors, and growing pharma R&D spending are major drivers of the North American market.

Label-free Detection Market Dynamics:

Drivers:

  1. Introduction of technologically advanced products
  2. Growing number of drug discovery programs through academic-industrial partnerships
  3. High sensitivity of label-free technologies

Restraints:

  1. High cost of instruments

Opportunities:

  1. Growing life science research activities in emerging markets

Challenges:

  1. Shortage of skilled professionals

Trends:

  1. Rising pharmaceutical outsourcing
  2. Impact of the COVID-19 outbreak on the label-free detection market

Key Market Players:

Key players in the label-free detection market include Danaher (US), Sartorius AG (Germany), Waters Corporation (US), PerkinElmer, Inc. (US), AMETEK, Inc. (US), HORIBA, Ltd. (Japan), Spectris (UK), METTLER TOLEDO International Inc., (US), Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Hitachi High-Tech Corporation (Japan), Attana AB (Sweden), Bruker (US), NanoTemper Technologies GmbH (Germany), Affinité Instruments (Canada), Biosensing Instrument (US), Unchained Labs (US), BioNavis Ltd. (Finland), Carterra, Inc. (US), Nicoya (Canada), BiOptix Analytical LLC (US), Plexera Bioscience (US), XanTec Bioanalytics GmbH (Germany), lino Biotech AG (Switzerland), and KEP Technologies (France).

Recent Developments:

  • In April 2022, Sartorius launched the new Octet SF3, the first SPR system under the Sartorius Octet brand. Octet SF3 is a next-generation SPR instrument that offers robust, high-throughput, low maintenance characterization of biomolecular interactions.
  • In February 2021, Creoptix, a subsidiary of Malvern Panalytical, launched WaveRAPID, a new and faster way of measuring kinetics to accelerate drug discovery.

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