Label-free Array Systems Market: Quest for Personalized and Precise Drugs to Surface Growth Opportunities
Transparency Market Research (TMR) has published a new report on the label-free array systems market for the forecast period of 2019–2027. According to the report, the global label-free array systems market was valued at ~ US$ 1.1 Bn in 2018, and is projected to expand at a CAGR of ~ 7% from 2019 to 2027.
Label-Free Array Systems Market: Introduction
Label-free array techniques eliminate the use of heavy florescent and other labels for the detection of new molecules. Label-free array techniques have various advantages over traditional labelled techniques, such as fast delivery, reliability, and robust & accurate results in real time. Label-free array techniques do not use any radioactive or fluorescent labels, tags, dyes, or any specialized reagent for the preparation of assays, which reduces overall cost of the technique.
Labelled detection techniques use labels, dyes, or radioactive and fluorescent labels to detect drug molecules, creating liabilities such as unfavorable and unanticipated reactions of the labels with the molecule of study. This could change the physico-chemical properties of the molecule, leading to false positive results. Label-free techniques do not require labelling, thus keeping the molecule under study free from any interactions. This is a key factor boosting the growth of the global label-free array systems market.
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Surface Plasmon Resonance to be Highly Attractive
The report offers detailed segmentation of the global label-free array systems market based on technique, application, and end user. In terms of technique, the surface plasmon resonance segment is poised to account for a prominent share of the global label-free array systems market during the forecast period, due to the increase in application of SPR in drug discovery, kinetic analysis, and antigen antibody reaction in protein microarrays. Moreover, various advantages of SPR technology such as real-time monitoring, ability to replicate the results, and ease of assay preparation are boosting the growth of the segment in the label-free array systems market.
Availability of advanced surface plasmon resonance systems such as GE Healthcare’s Biacore instruments is a key factor which leads to the penetration of the surface plasmon resonance technique in the global label-free array systems market. The microcantilever segment is anticipated to expand at a high CAGR during the forecast period in the label-free array systems market. The microcantilever technique can be effectively applied in applications such as monitoring of DNA-binding proteins, detecting the bioterrorism agent anthrax, analysis of biomarkers, and to weigh individual vaccine viruses and bacteria. Microcantilever-based sensors improve the capability to detect biological agents by order of magnitude. High surface-to-volume ratio, lightweight, and the small size of these systems boost the growth of the segment in the label-free array systems market.
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Increase in R&D Investments to Fuel Drug Discovery
In terms of application, the global label-free array systems market has been segregated into drug discovery, biomolecular interactions, detection of disease biomarkers, and others. The drug discovery segment dominated the global label-free array systems market in 2018. Increase in applications of label-free techniques in the drug discovery segment, rise in R&D costs, and surge in the demand for new and targeted drugs in the field of the life science and pharmaceutical sectors drive the drug discovery segment of the global label-free array systems market. Using label-free techniques such as detection and quantification of a wide array of interactions via a local change in refractive index, including those between a drug molecule and its receptor, can be studied. Increased government funding for research and rise in applications of label-free techniques in the drug discovery segment are expected to propel the segment in the label-free array systems market during the forecast period.
Pharmaceutical and Biotechnology Industries Offer Huge Opportunities
Increase in R&D spending by pharmaceutical and biotech companies is one of the factors driving the global label-free array systems market. A large number of companies focus on new and targeted drug development to gain a competitive edge in the highly fragmented industry. Growth of the pharmaceutical and biotechnology industries segment can be attributed to the patent expiry of drugs, which is putting the pharmaceutical industry under intense pressure, with R&D costs continuing to rise, but the number of drug discoveries remaining static. The contract research organizations segment is likely to expand at a significant CAGR from 2019 to 2027. Increase in clinical trial studies augment the contract research organizations segment in the label-free array systems market.
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Global Label-free Array Systems Market: Prominent Regions
North America to Create High Incremental Opportunity
In terms of revenue, North America is projected to be a prominent region in the global label-free array systems market from 2019 to 2027. This can be ascribed to the early adoption of technologically-advanced label-free array systems in the U.S. and Canada. The presence of leading market players, their growing investments in research, and FDA approvals for the commercial launch of label-free array systems boost the growth of the label-free array systems market in North America. Europe was a key market for label-free array systems in 2018. Growth of the label-free array systems market in the region can be attributed to the increase in the number of biotechnology companies with focus on research & development. The label-free array systems market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period, due to the growing trend among drug manufacturers and academic organizations toward adopting label-free methods earlier in the drug discovery process.
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Mergers & Acquisitions and Product Development & Launches in International Market: Key Trends among Leading Players
The report provides profiles of the leading players operating in the global label-free array systems market. GE Healthcare, Agilent Technologies, Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Bio-Rad Laboratories, GWC Technologies, PerkinElmer, Inc., Attana AB, and BiOptix, Inc. are the major players operating in the label-free array systems market.
These players have adopted strategies such as mergers and acquisitions to expand their label-free array systems product portfolio and new product development & launches to increase market presence. In November 2018, Agilent Technologies, Inc. acquired ACEA Biosciences, Inc. (ACEA), which helped it to expand its label-free array systems portfolio. In April 2017, Pall ForteBio launched the Octet RED96E System in the market for more versatile biologics characterization.
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