Growth in this market is largely driven by the introduction of technologically advanced products, a growing number of drug discovery programs through academic-industrial partnerships, and the high sensitivity of label-free technologies.
The global Label-free Detection Market size is estimated to be USD 431 million in 2020 and projected to reach USD 626 million by 2025, at a CAGR of 7.7%.
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Market Segmentation: -
On the basis of product & service, the label-free detection market is broadly segmented into instruments, consumables and software & services. The consumables segment is further segmented into biosensor chips, microplates and reagents & kits. In 2019, instruments accounted for the largest share of the label-free detection products market owing to the various technological advancements in label-free detection systems.
On the basis of technology, the market is categorized into five technology segments—surface plasmon resonance, bio-layer interferometry, differential scanning calorimetry, isothermal titration calorimetry, and other label-free detection technologies. The surface plasmon resonance segment accounted for the largest share in 2019, due to the high sensitivity of this technology and its wide usage in determining specificity, affinity, and kinetic parameters during the binding of macromolecules.
Key Market Drivers: –
1 Introduction of technologically advanced products
2 Growing number of drug discovery programs through academic-industrial partnerships
3 High sensitivity of label-free technologies
Regional Analysis: -
In 2019, Asia Pacific region accounted for the fastest growing region of the label-free detection market. It is also estimated to grow at the highest CAGR in the label-free detection market during the forecast period, this is mainly due to the rising awareness, increasing government support and funding, and growth in life science research.
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Top Key Players: -
Some of the leading players in the label-free detection market include Danaher (US), Sartorius AG (Germany), Waters Corporation (US), PerkinElmer Inc. (US), AMETEK, Inc. (US), HORIBA Ltd. (Japan), Spectris (UK), METTLER TOLEDO (US), Corning Incorporated (US), and Agilent Technologies, Inc. (US)