Global Label-free Array Systems Market Projected to Gain Significant Revenues of Worth US$1,722.9 Mn by 2024 End

Albany, US, May 17, 2018: Worldwide, label-free array systems are used in the drug discovery industry by pharmaceutical and biotechnology companies. To elaborate further on the market for label-free array systems, Market Research Hub (MRH) has publicized a new study to its massive repository. The research is titled as “Label-free Array Systems Market – Global Industry, Size, Share, Growth, Trends, and Forecast 2017 – 2024” which majorly aims to provide wide-ranging insights into the market current scenario and future growth prospects during the mentioned forecast period of 2017-2025. The global market growth has been analyzed in terms of revenue and volume estimates (in US$ Mn and Thousand Units), across different geographies such as North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.

Forecast Assumptions and Market Dynamics

Presently, in order to meet the growing demand for new and effective drugs, pharmaceutical companies are demanding advanced label-free array systems that can help in reducing the high cost of drug identification and validation process. According to the research evaluations, the global label-free array systems market is likely to register a CAGR of 5.6% between 2017 and 2024. Also, by 2024 end, the market is projected to bring in US$ 1,722.9 Million revenue.

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The report further also adds that, due to the increasing prevalence of various chronic diseases worldwide, there has been the rapid rise in the drug discovery process. This, as a result, has given significant impetus to the market growth. Moreover, next-gen label-free technologies including a mass spectrometer, biochip/microarray, and others have shown positive results in identifying clinical microorganisms. Moving further, the research has been categorized into various segments and sub-segments for in-depth analysis, such as by technology, end users, and applications. Based on the technology, the segmentation includes Cellular dielectric spectroscopy, Surface Plasmon resonance, Bio-layer interferometry, and others. Among these, surface plasmon resonance technology is likely to see a significant growth in the global market for label-free array technology. They are being used for rapid label-free detection of microribonucleic acids liked with the disorders such as heart diseases and cancers. Major end-users are Agriculture Research Institutes, Contract Research Organizations, R&D Laboratories and others.

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From a geographical viewpoint, the research predicts that North America region will emerge as the leading region in the global market for label-free array systems. The rise in chronic and life-threatening diseases is resulting in the increase in drug discovery program in the U.S. This is leading to the increasing demand for label-free array systems.

Competitive Outlook

Later, the authors of the report have decoratively profiled the key players in order to provide a sound understanding of how the competitive landscape could shape in the near future. F. Hoffmann-La Roche AG, Attana AB, Biacore, GWC Technologies, Agilent Technologies, ForteBio, PerkinElmer, Inc., Riot Block chain Inc., Molecular Devices LLC, and Bio-Rad Laboratories are some of the leading companies in the global label-free array systems market.

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