The increasing prevalence of chronic diseases, increasing R&D spending, and increasing healthcare spending are the major factors driving the growth of the immunofluorescence assay market.
The immunofluorescence market is expected to reach USD 2.01 Billion by 2023 from an estimated USD 1.51 Billion in 2018, at a CAGR of 5.8%.
“By product, the reagents segment accounted for the largest share of the immunofluorescence assay market in 2017.”
On the basis of product, the reagents segment accounted for the largest share of the global immunofluorescence assay market. The large share of this segment is due to growing applications of biosciences and biotechnology within the pharmaceutical and healthcare fields, the rising prevalence of a number of diseases, growing R&D activities, and government initiatives to strengthen national research capabilities are driving the growth of the reagents segment.
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“By type, the indirect immunofluorescence segment held the largest market share of the immunofluorescence assay market in 2017”
Based on type, the immunofluorescence assay is segmented into direct and indirect immunofluorescence. The indirect immunofluorescence assay accounted for the major share of the immunofluorescence assay market. The advantages of indirect immunofluorescence technique such as its sensitivity, flexibility, better amplification of the signal, and lower cost—over direct immunofluorescence is the key factor increasing the adoption of this technique.
“North America dominated the market in 2017”
North America accounted for the largest share of the immunofluorescence market in 2017, followed by Europe and Asia Pacific. The rising incidence of chronic & infectious diseases, increasing R&D spending, increasing research activities, favorable government funding opportunities, and the presence of key players in the region are the major factors responsible for the large share of North American immunofluorescence assay market.
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Thermo Fisher (US), Inova Diagnostics (US), and PerkinElmer (US) held the major share of the immunofluorescence assay market. Other major players operating in this market are Merck Millipore (US), Bio-Rad (US), Abcam (UK), Cell Signaling Technology (US), MEDIPAN GMBH (Germany), Sino Biological (China), Danaher (US), and Vector Laboratories (US).