The label free detection market is projected to reach US$ 829.71 million in 2028 from US$ 474.82 million in 2021; it is estimated to grow at a CAGR of 8.3% from 2021 to 2028.
Market Overview:
The label free detection market report highlights the key factors driving the market and prominent players with their developments. The growth of the label free detection market is primarily attributed due to introduction of high-tech products and growing number of drug discovery programs through academic–industrial partnerships. However, high cost of LFD instruments can hamper the market's growth.
According to researchers in ETH Zurich, Localized Surface Plasmon Resonance (LSPR) showed a high degree of accuracy and sensitivity in detecting COVID-19 RNA. Surface Plasmon Resonance is one of the significant technologies employed in label free detection. Also, label free products such as SPR systems and biosensors are used for COVID-19 research.
Based on product, the label free detection market is bifurcated into consumables and instruments. The consumables segment held the largest share of the market in 2021 moreover, the same segment is anticipated to register the highest CAGR of 8.6% in the market during the forecast period. Consumables used in the label free detection market comprise microplates, sample tubes & tips, biosensor chips, software etc. A successful detection requires every element of the process to go smoothly. For instance, the sensor chips are made of a high refractive index glass prism coated with a gold thin film specially developed for imaging purposes. Importantly, the sensor chips can be provided with pre-functionalized surface chemistry or as bare biochips suitable for exploring your own chemistry and target molecule detection.
General Electric; Perkin Elmer, Inc.; AMETEK Inc.; F. HOFFMANN-LA ROCHE LTD; Spectris; METTLER TOLEDO; Agilent Technologies, Inc.; Waters Corporation; Sartorius AG; Corning Incorporated are a few leading companies operating in the label free detection market.
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The report segments the label free detection market as follows:
The label free detection market is segmented based on product, technology, application, end user, and geography. Based on product, the market is bifurcated consumables and instruments. Based on technology, the market is segmented into surface plasmon resonance, bio-layer interferometry, differential scanning calorimetry, isothermal titration calorimetry, and other LFD technologies. Based on application, the market is segmented into binding kinetics, binding thermodynamics, hit confirmation, lead generation, endogenous receptor detection, and other applications. Based on end user, the label free detection market is segmented into pharmaceutical & biotechnology companies, academic and research institutes, contract research organizations, other end users. Geographically, the label free detection market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).
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Label Free Detection Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Instruments and Consumables), Technology (Surface Plasmon Resonance, Bio-Layer Interferometry, Isothermal Titration Calorimetry, Differential Scanning Calorimetry, and Other LFD Technologies), Application (Binding Kinetics, Binding Thermodynamics, Endogenous Receptor Detection, Hit Confirmation, Lead Generation, and Other Applications), and End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Contract Research Organizations, and Other End Users)
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