New York, June 02, 2021 (GLOBE NEWSWIRE) -- Growing prevalence of cancer, rapid advancements in medical and clinical infrastructure, increasing demand for quick and efficient assays, and progressing drug research and development are key factors driving market growth.
Market Size – USD 2.45 Billion in 2020, Market Growth – at a CAGR of 6.3%, Market Trends – Increasing focus on antibody-based therapeutics research.
The global immunofluorescence assay (IFA) market size is expected to reach USD 4.01 billion in 2028 at a CAGR of 6.3%, according to the latest report by Reports and Data. Increasing application of immunofluorescence assays in diagnostic and research studies, rising availability of advanced kits and reagents, and increasing prevalence of cancer and infectious diseases across the globe are key factors expected to drive market revenue growth over the forecast period. In addition, increasing investments by government and other organizations to accelerate research in the field is expected to boost demand for these assays and contribute to market growth going ahead.
Immunofluorescence assays is a microscopic technique that can efficiently detect and visualize viral proteins and other antigens expressed by cells through an antigen-antibody complex. The antibodies used during the process are chemically conjugated to fluorescent dyes, which can directly or indirectly bind to cellular antigens. The fluorescent dye is subjected to short wavelength and high energy light, which is absorbed and emitted as light of another wavelength. Fluorescence can then be visualized using fluorescent microscopy. Indirect immunofluorescence has been widely used as a confirmatory assay for diagnosing HIV over the past decades and is still used in laboratories as a diagnostic tool. In addition, it has been used for developing antibodies against SARS-CoV-2 to efficiently detect the presence of a virus in patient samples. This is expected to further contribute to market growth over the forecast period.
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Increasing need for robust healthcare facilities, rising prevalence of diseases such as cardiovascular diseases, diabetes, colorectal cancer, and intestinal diseases, and rapid progress in the biopharmaceutical sector are some other key factors expected to contribute to market growth. In addition, increasing focus on antibody-based therapeutics and several preclinical and clinical studies underway worldwide are expected to drive market growth going ahead. However, scarcity of skilled professionals and technicians in histopathology labs and high costs associated with immunofluorescence assays are expected to restrain market growth to a certain extent over the forecast period.
Some Key Highlights From the Report:
- The kits segment is expected to account for a significantly large market share in terms of revenue over the forecast period. This is attributable to increasing demand for assay kits in hospitals, diagnostics centers, and CROS. Growing application of immunofluorescence assays in research and clinical diagnostics is also expected to boost demand for kits and drive revenue growth of this segment.
- Indirect immunofluorescence segment is expected to register significant revenue CAGR owing to various benefits offered by this technique such as flexibility, sensitivity, and improved amplification of samples. In addition, secondary antibodies used through this technique are relatively more cost-effective as compared to primary antibodies used in direct immunofluorescence, which is expected to contribute to revenue growth of this segment.
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- Cancer segment is expected to dominate other segments among the disease segments during the forecast period owing to rising healthcare burden driven by increasing prevalence of various types of cancers and increasing application of IFA for screening and diagnosis of cancer due to its enhanced sensitivity in detecting cancer cells.
- Pharmaceutical and biotechnology companies segment is expected to register significant revenue growth over the forecast period owing to factors such as increasing research and development activities for novel drugs and therapeutics, growing automation in laboratories, and rising demand for fluorescence microscopy in biotechnology research.
- Asia Pacific market revenue is expected to expand at a significantly rapid CAGR over the forecast period owing to rising prevalence of chronic and infectious diseases, growing investments to develop healthcare facilities, and increasing presence of key players in the region.
- In April 2021, EUROIMMUN, which is a subsidiary of PerkinElmer, Inc. and a global provider of medical laboratory products, introduced EuroPattern Microscope Live compact immunofluorescence microscope, which enables ultrafast automated immunofluorescence image acquisition, pattern recognition, and titer estimation.
Major companies operating in the market include:
- Thermo Fisher Scientific, Inc.
- Merck KGaA
- Danaher Corporation
- Abcam Plc
- Bio-Rad Laboratories, Inc.
- PerkinElmer Inc.
- Werfen Company
- Agilent Technologies
- Cell Signaling Technology, Inc.
- MEDIPAN GmbH
- Enzo Biochem, Inc.
- Becton
- Dickinson and Company
- Bruker Corporation
- EpiGentek Group
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For the purpose of this report, Reports and Data has segmented the global immunofluorescence assay (IFA) market based on product, type, disease, end-use industry, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Reagents
- Kits
- Antibodies
- Instruments
- Consumables & Accessories
Type Outlook (Revenue, USD Billion; 2018-2028)
- Direct immunofluorescence
- Indirect immunofluorescence
Disease Outlook (Revenue, USD Billion; 2018-2028)
- Cancer
- Cardiovascular diseases
- Autoimmune diseases
- Infectious diseases
- Others
End-use Industry Outlook (Revenue, USD Billion; 2018-2028)
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- CROs
- Hospitals & Diagnostic Centers
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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