ELISpot and FluoroSpot Assay Market Forecast Driven by Vaccine Development Activities
Global ELISpot and FluoroSpot Assay Market Research Report, by Product (Assay Kit, Ancillary Products), Application (Transplant, Vaccines), End-User (Hospitals and Clinics, Ambulatory Surgical Centres, Diagnostic Centres, Research Centers) – Forecast Till 2027
ELISpot and FluoroSpot assays are techniques which are used to assess the antibody reactivity at the cellular level. They are extensively used by hospitals as well as research institutes for early detection of various diseases, most commonly for tuberculosis or viral infection. FluoroSpot assay is an adaptation of the ELISpot assay and has gained widespread acceptance. Market Research Future (MRFR) has extensively studied the patterns and trends governing the global ELISpot and FluoroSpot assay market over the forecast period of 2018-2023 in a detailed report. MRFR has asserted that the market is likely to reach USD 287 Mn at a splendid CAGR of 16.2% over the forecast period. The market stood at USD 135 Mn in 2017.
ELISpot and FluoroSpot assays are outstandingly sensitive and are easy to perform due to which they find extensive application in research studies concerning vaccine development, allergies, cancer, and other research purposes. The surge in the incidence rate of chronic diseases has been instrumental in the growth of the market. Increasing disease burden necessitate the development of vaccines which induce demand for ELISpot and FluoroSpot assays. Additionally, the growing occurrence of oncological diseases has further boosted the market growth. Technological advances in ELISpot and FluoroSpot techniques have resulted in increased sensitivity, robustness, and ease of performance which has increased the adoption rate of these techniques. Other factors motivating growth within the market include an increase in a number of clinical trials and increasing healthcare expenditure across the globe. However, the growth of the market might be hindered by factors such as lack of techniques with adequate knowledge to perform these tests and the availability of alternative detection technologies.
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Segmentation
The global ELISpot market and FluoroSpot market has been segmented based on product, application, and end-user.
By product, the ELISpot market and FluoroSpot market has been segmented into various assay kit, analyzer, ancillary products. The assay kit segment has been further segmented into various assay kit, analyzer, ancillary products.
By application, the ELISpot and FluoroSpot market has been segmented into transplant, vaccines development, clinical trials, cancer treatment.
By end user, the ELISpot and FluoroSpot market has been segmented into hospitals and clinics, ambulatory surgical centres, diagnostic centres, research centers, and others.
Regional Analysis
By region, the global ELISpot and FluoroSpot assay market have been segmented into North America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
North America holds the maximum share of the global ELISpot and FluoroSpot market. Availability of funds for R&D activities, established pharmaceutical industry which is pouring in substantial amounts in research purposes and increasing burden of chronic diseases is fostering the growth of the North America market. In addition, high healthcare expenditure and focus on vaccine development for various chronic diseases are other factors proving vital for market growth. Moreover, various vaccination programmes launched by the government in the region boosts the demand for these tests.
Europe accounts for the second most significant share of the ELISpot and FluoroSpot assay market. Rise in a number of pharmaceutical companies, increasing investment in R&D activities and growing demand for vaccines the region has favored the growth of the market. Moreover, the government, as well as private sector, is also investing in drug development which is augmenting the growth of the market.
The APAC market is likely to experience rapid growth and expand at a comparatively faster rate. The increasing prevalence of chronic diseases, and high healthcare expenditure, especially in the emerging economies has created a conducive environment for the growth of the market. Moreover, there is an inflated demand for ELISpot and FluoroSpot assays in research field in the region.
The MEA market is likely to showcase the least growth rate over the forecast period. However, increasing R&D activities can augur market growth.
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Competitive Landscape
Biotech Investissement (France), Becton, Dickinson and Company (US), Lophius Biosciences (Germany), Mabtech (Sweden), U-CyTech (Netherlands), Cellular Technologies (US), Bio-Techne (US), Oxford Immunotec (UK), Autoimmun Diagnostika (Germany), and Abcam (UK) are the distinguished players in the global ELISpot and FluoroSpot market.
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