Newark, March 14, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 3.45 Billion Immunofluorescence Assay market will reach USD 5.62 Billion by 2033. Lucrative growth prospects present in emerging markets. Anticipated growth prospects for market participants lie in emerging markets like Brazil, China, and India in the upcoming years. This is chiefly attributed to the diverse healthcare landscapes in these nations, along with a notable prevalence of infectious and chronic diseases, a surge in healthcare spending, and a rise in research and development initiatives by various organizations. Notably, both China and India exhibit a high prevalence of diabetes, further highlighting the potential for market expansion in these regions.
Get Sample PDF Brochure: https://www.thebrainyinsights.com/enquiry/sample-request/14097
Immunofluorescence Assay Market Size by Product (Reagent, Antibodies, Instruments, Kits, Consumables & Accessories), Type (Direct, Indirect), End-User (Into pharmaceutical & biotechnology companies, Academic and Research Institutes,
Hospitals and Diagnostic centers, Contract Research Organizations), Disease (Infectious Disease, Other Disease), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
In 2023, North America dominated the immunofluorescence market with a 41.11% revenue share, driven by major industry players, a robust healthcare infrastructure, and government initiatives like the 'Ending the HIV Epidemic in the U.S.' program. Asia Pacific is projected to grow the fastest (CAGR of 5.76% from 2023 to 2030), fueled by emerging economies, especially India and China, addressing infectious diseases like HIV and tuberculosis through initiatives supported by organizations like the CDC.
The Antibodies segment has dominated the market accounting for 39.13% of the total market.
The Antibodies sector has dominated the market accounting for 39.13% of the total market. This dominance is attributed to the fundamental role antibodies play in immunofluorescence, where they label specific target antigens using fluorescent dye kits and reagents segment is forecasted to achieve the highest Compound Annual Growth Rate (CAGR) of 6.96% over the projection period. This growth is fuelled by the user-friendly, cost-effective, and highly specific nature of immunofluorescence kits
The Infectious disease segment accounted for the largest share of the market share of 59.71% in 2023.
In 2023, the infectious disease segment commanded a significant 59.71% revenue share, primarily driven by the widespread adoption of immunofluorescence techniques, particularly for COVID-19 diagnosis. The onset of the COVID-19 pandemic and increased awareness for early detection were pivotal factors contributing to the segment's dominance. Conversely, autoimmune diseases, coming under the other diseases segment are projected to exhibit the fastest Compound Annual Growth Rate (CAGR) of 6.57% from 2023 to 2030. Immunofluorescence assays play a crucial role in diagnosing autoimmune diseases by recognizing autoantibodies, particularly in conditions like rheumatoid arthritis, lupus, and multiple sclerosis, driving the anticipated growth in this segment.
The Pharmaceutical and biotechnology segment has dominated the market in the year 2023.
The pharmaceutical & biotechnology companies segment has dominated the Immunofluorescence Assay Market with a market share of 45.49% in 2023, with anticipated rapid growth from 2024 to 2030. These industry players drive expansion through strategic actions like mergers, acquisitions, product development, approvals, launches, and global operational expansion. It is also expected to be the fastest-growing segment across the globe
The Indirect immunofluorescence segment has dominated the market in the year 2023.
In 2023, the indirect immunofluorescence segment dominated with a 65.18% revenue share and is expected to grow at a rapid 5.65% CAGR. This technique, utilizing both primary and secondary antibodies, is more complex but offers heightened sensitivity using a single fluorochrome-labeled approach for detecting various antigen-antibody interactions. Its diverse applications range from diagnosing diseases like amoebiasis to detecting autoantibodies in autoimmune disorders. The segment's growth is fuelled by cost-effectiveness, signal amplification, flexibility, and high-quality imaging advantages
For more information in the analysis of this report, speak to research analyst: https://www.thebrainyinsights.com/report/immunofluorescence-assay-market-14097
Latest Development:
• In Jan 2023, Agilent and Akoya joined forces to create chromogenic and immunofluorescent multiplex assays, incorporating spatial analysis for biopharmaceutical companies working on precision cancer therapeutics. These assay solutions empower researchers and healthcare practitioners to meet the patient selection requirements of innovative therapeutics and promptly translate their findings into clinical trials.
• In June 2023, EUROIMMUN, under Revvity, launched UNIQO 160, an innovative automated system for indirect immunofluorescence testing (IIFT) in autoimmune disease diagnostics. This advanced test enhances the overall efficiency of the entire IIFT process, encompassing sample preparation, incubation, slide washing, mounting, image acquisition, and analysis.
• In Dec 2023, First Light Diagnostics gained FDA approval for its SensiTox B. anthracis Toxin Test, an immunofluorescence assay detecting early biomarkers of inhalation anthrax. The 20-minute test, compatible with the MultiPath Analyzer, enables rapid and early diagnosis of anthrax infection. Federal funds from the U.S. Department of Health and Human Services supported the development of this test and the MultiPath Analyzer. First Light's SensiTox C. difficile Toxin Test is also cleared for the U.S. market
Interested to Procure The Data? Inquire here at: https://www.thebrainyinsights.com/enquiry/buying-inquiry/14097
Market Dynamics
Drivers: Growing incidences of persistent health conditions
The increasing incidence of chronic and infectious conditions, including rheumatoid arthritis, cancer, and HIV/AIDS, is poised to enhance the immunofluorescence assay market in the foreseeable future.
Additionally, growing R&D investments and healthcare spending: Additionally, the escalating investments in research and development and healthcare spending contribute to market expansion
Restraint: Elevated expenses associated with instruments
Within immunofluorescence assays, sophisticated imaging instruments play a vital role in observing and pinpointing fluorescently labeled antibodies within a sample. The elevated cost of these imaging instruments stems from their incorporation of advanced features and functionalities.
Rise in the popularity of alternative tests that are more efficient- The immunofluorescence assay market is hindered by the increasing preference for alternative, more efficient tests. This trend towards alternative diagnostic methods reflects a broader shift in the healthcare industry towards innovation and optimization
Opportunity: Lucrative growth prospects present in emerging markets
Anticipated growth prospects for market participants lie in emerging markets like Brazil, China, and India in the upcoming years. This is chiefly attributed to the diverse healthcare landscapes in these nations, along with a notable prevalence of infectious and chronic diseases, a surge in healthcare spending, and a rise in research and development initiatives by various organizations. Notably, both China and India exhibit a high prevalence of diabetes, further highlighting the potential for market expansion in these regions.
Challenge: Shortage of qualified experts
A significant challenge that could potentially impede the growth of the Immunofluorescence Assay Market is the scarcity of qualified experts. Immunofluorescence assays require a skilled workforce; however, the shortage of proficient professionals poses a substantial threat to the Immunofluorescence market.
Some of the major players operating in the Immunofluorescence Assay market are:
• Thermo Fisher Scientific
• Abcam plc
• Bio-Rad Laboratories
• PerkinElmer
• Merck KgaA
• Werfen
• Cell Signaling Technology
• MEDIPAN GmbH
• Sino Biological
• Danaher Corporation
Key Segments cover in the market:
By Product:
• Reagent
• Antibodies
• Instruments
• Kits
• Consumables & Accessories
By Type:
• Direct
• Indirect
By End-User:
• Pharmaceutical & biotechnology companies
• Academic and Research Institutes
• Hospitals and Diagnostic centres
• Contract Research Organizations
By Type:
• Infectious Disease
• Other Disease
Direct purchase a single user copy of the report: https://www.thebrainyinsights.com/buy-now/14097/single
About the report:
The global Immunoflorescence Assay market is analysed based on value (USD trillion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
