The Worldwide Immunofluorescence Assay Industry is Expected to Reach $3.5 Billion by 2026 - ResearchAndMarkets.com

The "Global Immunofluorescence Assay Market by Product (Reagent, Instruments, Antibodies, Kits, Consumables & Accessories), Type (Direct, Indirect), Disease (Infectious Disease, Other Diseases), End-user (Contract Research Organizations), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global immunofluorescence assays market is projected to reach USD 3.5 billion by 2026 from USD 2.6 billion in 2021, at a CAGR of 6% during the forecast period.

The growth in this market is primarily attributed to the increasing prevalence of chronic diseases and rising R&D spending & healthcare expenditure. Emerging markets are expected to provide growth opportunities for players operating in the immunofluorescence assays market in the coming years. However, quality concerns over antibodies are the major challenge in this market.

The kits segment accounted for the highest growth rate in the Immunofluorescence assay market, by product, during the forecast period

The Immunofluorescence assay market is segmented into reagents, instruments, antibodies, kits, and consumables and accessories. The kits segment accounted for the highest growth rate in the Immunofluorescence assay market in 2020. The demand for complete solutions from a single provider, like closed-system reagents with calibrated measurements of the required quantity of reagents and controls, among CROs, academic institutes, and research institutes is growing, contributing to this segment's high growth rate.

Indirect immunofluorescence segment accounted for the highest CAGR

Based on type, the immunofluorescence assays market is segmented into indirect immunofluorescence and direct immunofluorescence. In 2020, indirect immunofluorescence accounted for accounted for the highest growth rate. The major factors driving the growth of this segment are its advantages such as sensitivity, flexibility, better amplification of the signal, and lower cost over direct immunofluorescence.

Cancer segment accounted for the highest CAGR

Based on disease, the immunofluorescence assays market is segmented into cancer, infectious diseases, autoimmune diseases, cardiovascular diseases, and other diseases. In 2020, the cancer segment accounted for the highest growth rate. Increasing prevalence of cancer globally and the widespread adoption of immunofluorescence techniques for the study and diagnosis of cancer are the major factors driving this segment's growth.

Hospitals & Diagnostic Centers segment accounted for the highest CAGR

Based on end user, the immunofluorescence assays market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, hospitals & diagnostics centers, and contract research organizations. In 2020, the hospitals & diagnostics centers segment accounted for the highest growth rate. This can be attributed to the rising number of cases for various diseases coupled with the increasing number of hospitals worldwide are the major driving factors for this segment's growth.

Asia-Pacific: The fastest-growing country in the Immunofluorescence assay market

The Immunofluorescence assay market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to register the highest CAGR during the forecast period. Factors such as improving healthcare infrastructure, increasing healthcare spending, and favorable government initiatives are driving the growth of the immunofluorescence assay market in Asia-Pacific.

Market Dynamics

• Increasing Prevalence of Chronic Diseases
• Rising R&D and Healthcare Spending
• Growing Industry-Academia Collaboration
• Increasing Government Funding for Life Science Research
• Growing Awareness About Early Disease Detection

• High Instrument Costs

• High Growth Opportunities in Emerging Markets

• Quality Concerns Over Research Antibodies
• Lack of Skilled Professionals

Companies Mentioned

• Abcam plc
• Abnova Corporation
• AESKU Group GmbH
• Agilent Technologies
• Becton, Dickinson and Company (BD)
• Bio-Rad Laboratories, Inc.
• Bruker Corporation
• Cell Signaling Technology, Inc.
• Cellabs
• Danaher Corporation
• eLabscience, Inc.
• Enzo Biochem, Inc.
• EpiGentek Group
• J. Mitra & Co. Pvt. Ltd.
• Maravai Lifesciences
• Maxvision Biosciences, Inc.
• MEDIPAN GmbH
• Merck KGaA
• Nikon Corporation
• Olympus Corporation
• Perkinelmer, Inc.
• Sino Biological, Inc.
• Thermo Fisher Scientific, Inc.
• Werfen Company
• Zyagen, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/dhhr1v

View source version on businesswire.com: https://www.businesswire.com/news/home/20210215005212/en/