The growth of this market is majorly driven by the increasing research in the life sciences industry and the growing need to identify antigens associated with autoimmune diseases (through antigen-antibody interaction to understand disease mechanisms and develop relevant drugs targeting these diseases).
The immunoprecipitation market is expected to grow from USD 560 million in 2018 to USD 750 million by 2024, at a CAGR of 5.0% during the forecast period.
The kits segment is projected to grow at the highest CAGR between 2018 and 2024. Growth in this market can be attributed to factors such as the requirement for repeat purchase of kits, coupled with the increasing number of IP assays to isolate and purify antigens.
The individual IP segment is projected to grow at the highest rate in the market, by type. The increasing use of IP in studying protein-protein interactions, to detect the presence of an antigen, and to determine the relative quantity of an antigen are driving the use of individual IP in various research studies during the forecast period.
The Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Increasing investments by governments and industries, growing biotechnology research in these regions, and rising awareness about personalized therapeutics are expected to drive the growth of these markets during the forecast period.
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Major immunoprecipitation vendors include Thermo Fisher Scientific (US), Abcam (UK), Bio-Rad Laboratories (US), Merck KGaA (Germany), GenScript. (US), and BioLegend (US), Cell Signaling Technology (US), Rockland Immunochemicals (US), Takara Bio (Japan), and Geno Technology (US).