The global label free detection market is growing significantly due rise in contract research organization in emerging economies, and increasing government funding and grants in the industry. Increasing drug discovery programs through research partnerships between pharmaceutical companies and academic institutes are also supporting the growth of the market. Massive unexplored market in label free detection industry of developing economies are creating significant opportunities for the label free detection market to grow during the forecasted period.
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On the basis of products, the market is segmented as consumables and instruments. Instruments lead the market, in terms of size, due to increasing purchase of instruments in pharmaceutical and biotechnology companies; whereas, consumables are expected to grow at faster rate due to advancement in drug discovery. Consumables include biosensor chips and microplates. Moreover, on the basis of end users, the market is categorized as academic research institutes, contract research organization, pharmaceutical and biotechnology companies, and others. Pharmaceutical and biotechnology companies lead the market, whereas contract research organizations are expected to grow at fastest rate due to increasing outsourcing of drug dioscovery.
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Geographically, North America will be leading the global label free detection market in the coming years, due to increasing research and development spending. Asia-Pacific is the fastest growing region in the global label free detection market. The major reasons for the fastest growth of label free detection market in the region are increasing healthcare expenditure, improving healthcare infrastructure, increasing research and development funding, and large pool of patients in the region. Moreover, the label free detection market is growing due to increasing awareness of healthcare in the emerging countries, such as India and China, of Asia-Pacific region.
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Some of the companies operating in the global label free detection market are Pall Corporation, Roche Diagnostics, Bio-Rad Laboratories, Inc., General Electric, X-Body Biosciences, Ametek, Inc., Bioptix, Corning, Inc., Attana AB, Danaher Corporation, and Perkinelmer, Inc.
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