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. The market growth is mainly attributed to the introduction of High-tech products.
New York, March 15, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Label Free Detection Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product, Technology, Application, and End User” – https://www.reportlinker.com/p06244577/?utm_source=GNW
Label free detection systems are integrated systems that investigate the biomolecular interactions without quenching of labels or auto-fluorescent effects.These systems provide a rapid and real-time approach for new drug discovery.
High acceptance rate for the use of this technology in pharmaceutical and biotechnology sector due to various advantages involved with the process are driving the global label free detection market.
Label free technologies are relatively new in the well-established high-throughput screening (HTS) field.The technologies probe biomolecular interactions without spatial interference, or auto-fluorescent, or quenching repercussions of labels.
On average, a new drug takes at least a decade to complete the journey from initial discovery to launch in the marketplace. According to the Pharmaceutical Research and Manufacturers of America (PhRMA), the average cost of research & development for every successful drug is ~ US$ 2.6 billion. With the rising costs for drug development to treat increasingly complex diseases, improving productivity in early drug discovery processes has been challenging.
Initially, low throughput was a significant challenge associated with label free technologies. However, the introduction of surface plasmon resonance (SPR)-based label free systems with higher throughput has increased its overall operational efficiency while providing valuable data to make informed decisions.
• The latest innovation in differential scanning calorimetry (DSC) from Spectris has been designed especially for regulated environments, and it delivers essential data to guide biopharmaceutical development. In 2017, Spectris introduced the MicroCal PEAQ-DSC microcalorimeter, which offers unattended 24-hour operations, streamlined workflows, and automated data analysis to produce results in hours, driving productivity and efficiency gains in research and production.
• In 2018, Danaher introduced Biacore 8K+, an eight-needle, high-sensitivity SPR system. The system automates over 4,500 drug candidate–disease target binding experiments in one run. It can be connected with the Biacore Insight Evaluation Software to translate high-quality data into actionable insights.
Therefore, due to technological advancements, pharmaceutical and biopharmaceutical companies and academic research institutes adopt label free technologies for bimolecular analysis during drug discovery, which fuels the growth of the label free detection market.
Based on product, the global label free detection market is segmented into instruments and consumables.In 2021, the consumable segment held the largest share of the market.
Moreover, the same segment is expected to register the highest CAGR in the market during 2021–2028, owing to the factors such as continuous advancements in label free detection technologies, and rising government investments to advance the developments in biopharmaceutical, and biotechnology sectors.
Based on technology, the global label free detection market is segmented into surface plasmon resonance, bio-layer interferometry, isothermal titration calorimetry, differential scanning calorimetry, and other LFD technologies.In 2021, the surface plasmon resonance technology segment held the largest share of the market.
Moreover, the same segment is expected to register the highest CAGR in the market during 2021–2028. This growth is owing to the great sensitiveness of this technology and its extensive application in regulating specificity, affinity, and kinetic parameters at the time of the binding of macromolecules.
Based on application, the global label free detection market is segmented into binding kinetics, binding thermodynamics, endogenous receptor detection, hit confirmation, lead generation, and other applications.In 2021, the binding kinetics segment held the largest share of the market.
Moreover, the same segment is expected to register the highest CAGR in the market during 2021–2028. The factors attributing the growth of this segment are rising need of drugs with broad therapeutic index, advancements in structural biology and growing R&D activities to detect corona virus with label free detection method.
Based on end-users, the global label free detection market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, contract research organizations and other end users.In 2021, the pharmaceutical and biotechnology companies segment held the largest market share in 2021.
Moreover, the same segment is expected to register the highest CAGR in the market during 2021–2028. This growth is owing to the extensive use of label-free detection technologies by pharmaceutical & biotechnology companies for studying biomolecular interactions in drug discovery.
A few major primary and secondary sources referred to while preparing the report on the global label free detection market are the Pan American Health Organization, World Bank Data, Biotechnology Ministerial Coordinating Committee, Contract Research Organization, and Medical Research Council Laboratory of Molecular Biology.
Read the full report: https://www.reportlinker.com/p06244577/?utm_source=GNW
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