Label-Free Array Systems Market to Reach US$ 1.7 Billion by 2024; Asia Pacific to be Most Lucrative Market in the Near Future

According to a new market report published by U.S. based market research company, Transparency Market Research “Label-free Array Systems (By Technology: Surface Plasmon Resonance, Bio-layer Interferometry, Cellular Dielectric Spectroscopy, and Others; By Applications, Drug Discovery, Antibody Characterization & Development, Protein Interface Analysis, Protein Complex & Cascade Analysis, and Others; By End Users: R&D Laboratories, Contract Research Organizations, Agriculture Research Institutes, and Others) – Global Industry Analysis, Size, Share, Growth, Trends & Forecast, 2016 – 2024” the global label-free array systems market was valued at US$ 1.0 Bn in 2015, and is expected to reach US$ 1.7 Bn by 2024, expanding at a CAGR of 5.6% during the forecast period of 2016-2024

Browse the full report at http://www.transparencymarketresearch.com/label-free-array-systems-market.html

Drug discovery is a process of identification of new molecules also known as hit generation, as a possible drug candidate, and validation of the hits generated for the further processes of drug development. The research and development industry is largely dependent on the drug discovery process, earlier which was based on labelling the target molecules with radioactive or florescent labels, and conducting assays for identification and validation of the molecule under study. But the use of labels as in Enzyme Linked Immunosorbent Assay (ELISA), Nuclear Magnetic Resonance (NMR), have certain limitations as to increased cost and time due to labelling, along with the physico-chemical properties of the molecule under study gets altered in some cases, with the interaction of labels with the molecules, resulting into false results. The label-free array systems avoid the use of these labels and provide real time, high throughput results, which have led to increased ratio of hits to leads conversion, and reduced time and cost required for the process.

North America dominated the global label-free array systems market in 2015 accounting for more than 40% share of the global market, and is expected to continue the dominance during the forecast period of 2016-2024. U.S. accounted for the maximum share of the North America label-free array systems market. Increasing R&D expenditure by pharmaceutical & biotech companies, along with rising government funding for research and development, increased adopting of label-free techniques, and introduction of technologically advanced label-free array instruments, are some factors responsible for the growth of the label-free array systems market in North America.

Europe was the second most dominant region in the global label-free array systems market, accounting for a share of over 25% in terms of revenue in 2015. High growth of the pharmaceutical and biotechnology industry in Germany, U.K., and France, along with increased adoption of label-free technologies, have been factors driving the growth of the label-free array systems market in Europe. Germany dominated the Europe label-free array systems market, closely followed by U.K., and France. Advancements in the features offered in label-free array systems, such as lower analysis time and higher sensitivity is expected to drive the label-free array systems market in these countries during the forecast period of 2016-2024.

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The label-free array systems market in Asia Pacific is projected to expand at the highest CAGR during the forecast period from 2016 to 2024. Indian pharmaceutical industry is growing at a phenomenal rate, and the upsurge of contract research organizations in China and Japan, have been responsible for the growth of the label-free array systems market in the Asia Pacific region. Also the increased R&D expenditure in China and Japan, and increasing awareness of the label-free array systems in these countries, are expected to propel the growth of the label-free array systems market during the forecast period.

Major players in the global Label-free Array Systems market include Biacore, Agilent Technologies, ForteBio, Perkin Elmer, Attana AB, BiOptix, Inc., GWC Technologies, Molecular Devices LLC, and F. Hoffman LA Roche, among others.

The global Label-free array systems market has been segmented as follows:

  • Global Label-free Array Systems Market, by Technology
    • Surface Plasmon Resonance
    • Bio-layer Interferometry
    • Cellular Dielectric Spectroscopy
    • Others
  • Global Label-free Array Systems Market, by Applications
    • Drug Discovery
    • Antibody Characterization & Development
    • Protein Interface Analysis
    • Protein Complex & Cascade Analysis
    • Others  
  • Global Label-free Array Systems Market, by End-users
    • R&D Laboratories
    • Contract Research Organizations
    • Agriculture Research Institutes.
    • Others 
  • Global Label-free Array Systems Market, by Geography
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Spain
      • Italy
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • UAE
      • Rest of Middle East & Africa

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