Global Label-free Detection (LFD) Market Expected to Grow at a CAGR of 10.76% During the Period 2017-2021

Albany, US, 2017-Oct-07 — /EPR Network/ — LFD technology is used in the process of drug discovery. The main use of LFD technology is kinetics and analysis during drug discovery. LFD technology is widely used for end-point screening and specificity testing. Some of the benefits of LFD technology include faster turnaround time, real-time kinetic analysis, and others. LFD technology has replaced radioactive assay and enzyme-linked immunosorbent assay (ELISA). It helps study the interaction between drug and target.

Technavios analysts forecast the global label-free detection market to grow at a CAGR of 10.76% during the period 2017-2021.

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The report covers the present scenario and the growth prospects of the global label-free detection (LFD) market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

Research analysis on the global label-free detection (LFD) market identifies that the rise in drug discovery programs will be one of the major factors that will have a positive impact on the market’s growth. The rise in the occurrence of chronic diseases such as respiratory diseases, chronic kidney diseases, and leukemia have increased the need for drug discovery. Numerous drug discovery programs are organized by several academic and research institutes around the world. Drug development mainly helps in testing the harmfulness of drug and effectiveness at the target tissue or organ in a patient. Moreover, the growth in drug discovery has also led to a high demand for personalized medicines and the market is also witnessing a rise in partnerships between academic research institutes and major pharmaceutical and biotechnology companies. For instance, Biocon is one of the key companies in the pharmaceutical market carrying out high number of drug discoveries. The company is involved in various drug discovery programs for product innovation and product line expansion. The increase in drug discovery programs by academic institutes and pharmaceutical companies will positively impact the growth of the LFD market. According to Technavio’s market research analysts, this market will grow at a CAGR of almost 11% by 2021.

In terms of geographic regions, the Americas will be the major revenue contributor to the LFD market throughout the forecast period. This is mainly due to the increasing prevalence of diseases and the growth in drug discovery programs in the region. Partnerships between academic institutes and large companies and the presence of several pharmaceutical and biotechnological companies, will also boost the market’s growth in the Americas.

Competitive landscape and key vendors 

The LFD market is quite competitive and consists of key vendors. The market is witnessing an increase in competition due to the presence of numerous global and regional vendors. Vendors are involving themselves in the development of different products and are focusing on R&D activities and acquisitions. The intense competition in the market limits the entry of new entrants.

The leading vendors in the market are –

Bio-Rad Laboratories
GE Healthcare
F.Hoffman-La Roche

The other prominent vendors in the market are AMETEK, Attana, BiOptix, Corning, Juno Therapeutics, Pall, and SymCel.

Segmentation by product and analysis of the LFD market

Biochemical assays
Cell-based assays

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According to this industry research report, the biochemical assays segment accounted for the major shares of the LFD market during 2016. The availability of wide test menus for biochemical assays is one of the major factors fueling the growth of the LFD market in this segment.

Segmentation by end-user and analysis of the LFD market

Pharmaceutical and biotechnology companies
CROs
Academic and research institutes

As per this market research report, the pharmaceutical and biotechnology companies were the major end-users to the LFD market during 2016. The increase in drug discovery and product development and the rising partnerships with academic and research organizations, will drive the growth of the LFD market in this end-user segment during the next few years.

Key questions answered in the report include

What will the market size and the growth rate be in 2021?
What are the key factors driving the global label-free detection (LFD) market?
What are the key market trends impacting the growth of the global label-free detection (LFD) market?
What are the challenges to market growth?
Who are the key vendors in the global label-free detection (LFD) market?
What are the market opportunities and threats faced by the vendors in the global label-free detection (LFD) market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global label-free detection (LFD) market?

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