The research study involves four major activities to estimate the current market size for the ELISpot and FluoroSpot market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
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Major Market Growth Drivers:
Growth in ELISpot and FluoroSpot Assay Market is driven by the rising global incidence of chronic diseases, increasing vaccine development to address the challenge of antimicrobial resistance, and technological advancements in ELISpot and FluoroSpot assay kits and analyzers. On the other hand, the availability of alternative detection technologies is expected to limit market growth during the forecast period.
Revenue Growth Analysis:[111 Pages Report] The ELISpot and FluoroSpot market is projected to reach USD 287 million by 2023 from USD 135 million in 2018, at a CAGR of 16.2% during the forecast period.
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74 – Tables
33 – Figures
111 – Pages
Diagnostic applications to hold the largest share of the ELISpot and FluoroSpot Assay Market in 2018
Based on the applications, the ELISpot and FluoroSpot market is segmented into diagnostic and research applications. In 2018, the diagnostic applications segment is expected to account for the larger share of the ELISpot and FluoroSpot market in 2018. The large share of this segment can be attributed to the rising global prevalence of infectious diseases and the increasing use of ELISpot kits for disease diagnosis.
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Hospitals and clinical laboratories are expected to be the largest end users in the ELISpot and FluoroSpot market in 2018
By end user, the ELISpot and FluoroSpot market is segmented into hospitals & clinical laboratories, research institutes, and biopharmaceutical companies. The hospitals & clinical laboratories segment is expected to account for the largest market share in 2018 while the research institutes segment is projected to grow at the highest CAGR during the forecast period. The growing patient population and the improving healthcare infrastructure in developing countries are some of the key factors driving the growth of the hospitals & clinical laboratories segment.
Asia Pacific to grow at the highest rate during the forecast period (2018–2023)
The ELISpot and FluoroSpot market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). While North America is expected to dominate the market in 2018, Asia Pacific is expected to register the highest CAGR in the market during the forecast period. Growth in APAC is largely driven by the large patient population and high prevalence of chronic diseases in this region.
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Key Market Players:
The key players operating in the global ELISpot and FluoroSpot Assay Marketare Oxford Immunotec (UK), Cellular Technologies (US), Mabtech (Sweden), Becton, Dickinson and Company (US), Abcam (UK), Bio-Techne (US), Autoimmun Diagnostika (Germany), Biotech Investissement (France), Lophius Biosciences (Germany), and U-CyTech (Netherlands).