DUBLIN, Aug. 29, 2023 /PRNewswire/ — The “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” report has been added to ResearchAndMarkets.com’s offering.
The global label-free detection market is projected to reach USD 863 million by 2028 from USD 570 million in 2023, at a CAGR of 8.7% during the forecast period of 2023 to 2028
The major factors driving the growth of this market include the introduction of technologically advanced products, the growing number of drug discovery programs through academic-industrial partnerships, and the high sensitivity of label-free technologies. However, the high cost of instruments is a major factor restraining market growth to a certain extent.
For instance, In June 2023, Waters Corporation announced a multi-year research collaboration with Princeton University that will enable scientists, faculty, and students to work together to bring their diverse skills and backgrounds to solve complex challenges in biochemistry and materials science.
Under the new agreement, the Waters-Princeton collaboration will bring together academic and industry researchers to tap into knowledge and expertise from various scientific domains and disciplines to identify and solve problems that matter. One such research project will focus on novel media for purification to help advance drug development and discovery.
Prominent players operating in the label-free detection market are Danaher Corporation (US), Sartorius AG (Germany), Waters Corporation (US), PerkinElmer Inc. (US), and AMETEK, Inc. (US).
The biosensor chips segment accounted for the largest share by consumables during the forecast period
In 2022, biosensor chips segment accounted for the largest share by consumables in the global label-free detection market. Biosensors are important tools in the fields of biochemistry and biomedical engineering because they provide a platform for the detection of various analytes.
Currently, label-free biosensors are widely used in proteomics and biomolecular interaction studies, as the detection of the chemical or biological agent by the transducer does not rely on dyes, enzymes, or radiolabels. Conventionally, many small molecules are detected by chromatographic methods, which are usually costly, bulky, and require expertise.
Biosensors offer a cheaper and faster alternative. Some advantages of biosensors over classical methods for small-molecule detection include real-time monitoring, high specificity, fast response times, reduced consumption of organic solvents and sample manipulation, portability, compactness, and easy operation.
Europe accounted for the second-largest market for label-free detection market after North America
The European label-free detection market has witnessed significant growth in recent years, driven by various factors that have propelled its expansion. Europe is at the forefront of developing and adopting emerging technologies in the field of label-free detection market. This includes advancements in label-free detection technologies.
The adoption of these innovative technologies accelerates the progress of viral vector and plasmid DNA manufacturing research and expands its applications. Additionally, Europe offers comprehensive training and education programs in label-free detection technologies.
Universities, research institutes, and organizations provide funding, and conferences to enhance the knowledge and skills of scientists and researchers. The availability of funding promotes the adoption and utilization of of label-free detection technologies in Europe.
Premium Insights
- Growing Number of Drug Discovery Programs to Drive Market
- Instruments Dominated North American Label-Free Detection Market in 2022
- Pharmaceutical & Biotechnology Companies Segment Accounted for Largest Share of APAC Market in 2022
- Pharmaceutical & Biotechnology Companies Accounted for Largest Market Share in 2022
- Asia-Pacific Countries to Register Highest Growth Rate in Label-Free Detection Market from 2023 to 2028
Market Dynamics
Drivers
- Technological Advancements in Label-Free Detection
- Growing Academic-Industrial Partnerships for Drug Discovery Programs
- High Sensitivity of Label-Free Technologies
Restraints
- High Cost of Instruments
Opportunities
- Growing Life Sciences Research in Emerging Economies
Challenges
- Sample Complexity and Interference
Trends
- Rising Pharmaceutical Outsourcing
- Increasing Applications of Label-Free Electrochemical Sensing Platforms
Company Profiles
Key Players
- Danaher
- Sartorius AG
- Waters Corporation
- Perkinelmer, Inc.
- Ametek, Inc.
- Horiba, Ltd.
- Spectris
- Mettler Toledo International, Inc.
- Agilent Technologies, Inc.
- Shimadzu Corporation
- Hitachi High-Tech Corporation
- Attana Ab
- Bruker
Other Players
- Nanotemper Technologies GmbH
- Affinite Instruments
- Biosensing Instrument
- Unchained Labs
- Bionavis Ltd.
- Carterra, Inc.
- Nicoya
- Bioptix Analytical LLC
- Plexera Bioscience
- Xantec Bioanalytics GmbH
- Lino Biotech AG (Miltenyi Biotec)
- Kep Technologies
For more information about this report visit https://www.researchandmarkets.com/r/yr0hal
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