Growth Opportunities for Players Operating in the Immunofluorescence Assays Market

Immunofluorescence Assay Market - Overview

The growth in this market is primarily attributed to the increasing prevalence of chronic diseases and rising R&D spending & healthcare expenditure.

Immunofluorescence assays are used extensively for the detection of viral antigens, including COVID-19. As a result, the pandemic has increased the demand for immunofluorescence assay products across the globe. These are fast and simple methods that allow researchers to visualize the effects and dynamics of viral infections. In the current global scenario, such methods represent a crucial tool in preventing and treating these pathogens.

According to the WHO, by 2020, chronic diseases are estimated to account for 73% of all deaths and 60% of the global burden of diseases. Diabetes, cancer, infectious diseases, neurological disorders, autoimmune diseases, cardiovascular diseases, lung disorders, severe pancreatitis, and renal failure are major chronic diseases worldwide.

According to the American Institute for Cancer Research, an estimated 18.1 million cancer cases were reported worldwide in 2018; this is projected to increase to 29.5 million by 2040.

In immunofluorescence assays, imaging instruments are used to visualize and locate the fluorescently labeled antibodies in a sample. These imaging instruments are expensive as they are equipped with advanced features and functionalities.

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This can primarily be attributed to the diversified healthcare markets in these countries, coupled with the high incidence of infectious and chronic disorders, increasing healthcare expenditure, and the increasing number of R&D initiatives by various organizations. For example, China and India have both registered a high prevalence rate of diabetes.

Histopathology technologies account for the majority of the tests performed on cancer patients. However, there is a dearth of trained staff in these laboratories. Many histopathologists have reached retirement age, and only a small number of histopathologists are being trained.

The demand for complete solutions from a single provider, like closed-system reagents with calibrated measurements of the required quantity of reagents and controls, among CROs, academic institutes, and research institutes is growing, contributing to this segment’s high growth rate.

Cancer accounted for the largest share of the global immunofluorescence assays market. The large share of this segment can be attributed to the increasing prevalence of cancer globally and the widespread adoption of immunofluorescence techniques for the study and diagnosis of cancer.

Key Market Players

Some of the major players operating in this market are Thermo Fisher Scientific (US), Merck KGaA (Germany), and Danaher Corporation (US). In 2019, Thermo Fisher Scientific held the leading position in the immunofluorescence assay market.

Recent Developments:

  • In 2020, Merck KGaA invested EUR 18 million (USD 21.09 million) to build a new Life Sciences Laboratory in Buchs, Switzerland, to accelerate and support research and development, analytical production, and quality control.
  • In 2019, Thermo Fisher Scientific, Inc. launched the fully automated EVOS M7000 microscope.

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