Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "ELISpot and FluoroSpot Assay Market - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global ELISpot and FluoroSpot Assays Market is expected to reach USD 421 million by 2028 from USD 292 million in 2023, at a CAGR of 7.6% during the forecast period. Market is driven by factors such as Increasing use of ELISpot and FluoroSpot assays in oncology, growth in biotechnology and biopharmaceutical industries. On the other hand, availability of alternative detection technologies is expected to limit market growth to a certain extent in the coming years.
The Assay kits accounted for the largest market share in the ELISpot and FluoroSpot Assays product' smarket, during the forecast period
The ELISpot and FluoroSpot Assay Products market is segmented into Assay kits, Analyzers, and Ancillary Products. In 2022, kits accounted for a sizable market share because they offer advantages in terms of high specificity and sensitivity and better detection limits as compared to other assays such as ELISA as well as their wide applications in the field of research and diagnostics.
Diagnostic application segment accounted for the largest market share
Based on type of application, the ELISpot and FluoroSpot Assays market is segmented into Diagnostic and Research Application. The Diagnostic application segment accounted for the largest market share in 2022, while research application is expected to grow at the fastest rate in the years ahead, from 2023 to 2028 considering their practice in several research applications, such as vaccine development, clinical trials, and cancer research.
APAC region accounted for the highest CAGR
The global ELISpot and FluoroSpot Assays market is divided into four regions: North America, Asia-Pacific, Europe, and Rest of the World. According to the regional analysis, the Asia-Pacific region is likely to retain a significant market share in 2022 and the future. The Asia-Pacific market is being propelled by an increase in non-communicable (NCD), research funding on vaccines and changing disease profiles. North America, on the other hand, will experience significant growth in the coming years due to the presence of key players, the availability of technologically advanced ELISpot and FluoroSpot assay kits and analyzers.
Europe is estimated to register the third highest CAGR during the forecast period
In this report, the ELISpot and FluoroSpot Assays market is segmented into four major regional segments: North America, Europe, Asia Pacific, Rest of the world. The market in Europe is projected to register the third highest growth rate during the forecast period. The growth in this market is due to Europe has a strong tradition of research and academic excellence, the rising incidence of chronic diseases, including autoimmune disorders and infectious diseases, government funding for research and healthcare in many European countries supports the development and adoption of advanced diagnostic technologies.
Companies Profiled in the Report:
- Oxford Immunotec USA, Inc. (Subsidiary of Revvity Inc.) (UK)
- Becton, Dickinson and Company (BD) (US)
- Cellular Technology Limited (CTL) (US)
- Mabtech (Sweden)
- Abcam plc (UK)
- Bio-Techne (US)
- Merck KGaA (Germany)
- Autoimmun Diagnostika GmbH (Germany)
- U-CyTech (Netherland)
- Mikrogen Diagnostik (Germany)
- Medix Biochemica (Finland)
- Abnova Corporation (Taiwan)
- Anogen-Yes Biotech Laboratories Ltd. (Canada)
- Biorbyt Ltd. (UK)
- BIOSYS Scientific Devices GmbH (Germany)
- Jackson ImmunoResearch Inc. (US)
- iST Scientific (UK)
- SERVA Electrophoresis GmbH (Germany)
- ACROBiosystems (US)
- National Analytical Corporation (India)
- STEMCELL Technologies (Canada)
- ZenBio, Inc. (US)
- BOC Sciences (US)
- Tokyo Chemical Industry Co. Ltd. (TCI) (Japan)
- MP Biomedicals (California)
Research Coverage
This report studies the ELISpot and FluoroSpot Assays market based on product, applications, end user, and region. The report also analyses factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total ELISpot and FluoroSpot Assays market. The report forecasts the revenue of the market segments with respect to four major regions.
Market Dynamics
- Drivers
- Increasing Incidence of Chronic and Infectious Diseases and Growing Awareness About Early Disease Diagnosis
- Increasing Vaccine Development to Address Challenges of Antimicrobial Resistance
- Increasing Use of ELISpot and FluoroSpot Assays in Oncology
- ELISpot Assays as Diagnostic Tool in Drug Hypersensitivity Reaction
- Growth in Biotechnology and Biopharmaceutical Industries
- Restraints
- Stringent Requirements for Approval of ELISpot and FluoroSpot Assay Instruments and Consumables
- High Cost of Assay Kits and Analyzers
- Opportunities
- Use of FluoroSpot Assays for Multiple-Analyte Detection in Single Well
- Emerging Economies
- Challenges
- Availability of Alternative Detection Technologies
- Dearth of Skilled Professionals
Key Attributes
| Report Attribute | Details |
| No. of Pages | 234 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $292 Million |
| Forecasted Market Value (USD) by 2028 | $421 Million |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/1b89ld
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