SAN FRANCISCO, March 8, 2023 /PRNewswire/ — The global label-free array system market size is expected to reach USD 799.59 million by 2030, expanding at a CAGR of 7.42% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is expected to witness substantial growth during the forecast period. This growth is attributed to the increasing fundraising by biotech start-ups for developing innovative products. Additionally, rising awareness of personalized diagnostic and therapeutic treatments in emerging markets is also a contributing factor to the growth of the label-free array system.
Key Industry Insights & Findings from the report:
- By type, surface plasmon resonance is anticipated to capture the majority of the label-free array system market share in 2022. Owing to the increasing R&D investment in biomedical research by companies is expected to support the growth of label-free array systems during the forecast period.
- By application, drug discovery is considered the key application with the largest market share in 2022, and this trend is likely to be maintained over the forecast period. This growth can be attributed to the increasing use of personalized medicines in developing countries.
- By end-users, the academic and research institutions segment is estimated to witness significant growth during the forecast period. The growth is attributed to the increasing grants and financial assistance from the government and companies.
- North America has established a substantial position in the regional market with 47.20% of the overall market share. The increasing use of personalized medicines and high R&D expenditure are encouraging companies to undertake product development in the region.
- A few of the key players in the market include Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Merck KGaA, Danaher Corporation, F. Hoffmann-La Roche AG, and Bio-Rad Laboratories, Inc.
Read 180-page market research report, “Label-free Array System Market Size, Share & Trends Analysis Report By Type (Surface Plasmon Resonance, Bio-layer Interferometry, Cellular Dielectric Spectroscopy), By Application, By End-user, By Region, And Segment Forecasts, 2023 – 2030”, published by Grand View Research.
Label-free Array System Market Growth & Trends
Label-free array systems are analytical technologies that are used to detect and quantify biomolecules in complex samples without the use of fluorescent or radioactive labels. These systems rely on the principle of Surface Plasmon resonance (SPR) which allows the detection of changes in the reflected light and quantifying the binding of biomolecules to the surface of the array.
One of the main advantages of label-free array systems is that they do not require the use of hazardous or expensive labeling agents, making them a safer and more cost-effective alternative to traditional labeling methods. Additionally, because they do not rely on fluorescence or radioactivity, label-free array systems can be used to study biomolecule interactions in real time, providing dynamic and quantitative information about the binding kinetics and affinity of the interacting molecules.
Similarly, companies are also growing the application scope for label-free array systems. The technique offers a quantitative analysis of interactions without altering the individual components of the array. According to Sartorius, the emerging application for label-free array systems are Biologics & Small Molecules Research, characterization of kinetic, bioprocessing, COVID-19 research, GxP applications, lead optimization and selection, titer and impurity testing, and target ID and validation.
Additionally, the advancement of material science along with computational design and nanofabrication have resulted in the development of label-free protein microarray approaches. These approaches have showcased significant results in protein profiling, drug discovery, biomarker screening, and drug target identification. Hence, the development of new technologies is expected to enhance the growth of label-free array systems in the market.
Furthermore, North America has captured the majority of the market share. The significant share is due to the well-established healthcare facilities in this region along with increasing investment in the R&D sector. The rising awareness amongst healthcare professionals and patients of early detection and treatment of chronic disease speeds up the diagnostic capabilities in this region and surges the growth of the product.
Label-free Array System Market Segmentation
Grand View Research has a segmented label-free array system based on type, application, end-users, and region
Label-free Array System Market – Type Outlook (Revenue, USD Million, 2018 – 2030)
- · Surface Plasmon Resonance
- · Bio-layer Interferometry
- · Cellular Dielectric Spectroscopy
- · Others
Label-free Array System Market – Application Outlook (Revenue, USD Million, 2018 – 2030)
- Drug Discovery
- Protein Interface Analysis
- Antibody Characterization
- Others
Label-free Array System Market – End-user Outlook (Revenue, USD Million, 2018 – 2030)
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- CRO
- Others
Label-free Array System Market – Regional Outlook (Revenue, USD Million, 2018 – 2030)
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Thailand
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players In Label-free Array System Market
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Agilent Technologies Inc.
- PerkinElmer Inc.
- Merck KGaA
- Danaher Corporation
- Bio-Rad Laboratories Inc.
- F. Hoffmann-La Roche AG
- Becton Dickinson and Company
- Sartorius AG
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About Grand View Research
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