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Emerging Economies in Asia and Contract research organizations are the New Revenue Pockets in the Label Free Detection Market
Label-free technologies are used for studying biomolecular interactions without spatial-interference, autofluorescent or quenching effects of labels. These technologies provide a rapid and real-time approach to both biochemical and cell-based assays which aid in new drug discovery. Label-free detection is rapidly gaining acceptance as a vital tool for drug discovery research.
North America accounted for the largest share of the global label free detection market in 2013. However, the Asian market is expected to grow at the highest rate during the forecast period and represents new revenue pockets for the label free detection market. Growth in the Asia regional segment is likely to be centered on China and India. The growth in the Chinese and Indian economies and increasing drug discovery initiatives will be a major driver for growth in the Asian label free detection market. The Asian segment is also expected to witness a steady year-on-year growth, due to the increase in private equity and venture capital investments in the field of biotechnology in Asia-Pacific region.
The end users segment included in this report are academic research institutes, contract research organizations (CROs), pharmaceutical and biotechnology companies, and other end-users. The CROs end-user segment is expected to grow at the highest CAGR during the forecast period, owing to increasing trend of pharmaceutical outsourcing. Many core functions like manufacturing, clinical trial management and drug discovery research are being increasingly outsourced to CROs. CRO are expected to be the fastest moving end-user segment for label-free detection equipment in the forecast period.
Label-Free Detection Market by Technology (Bio-layer interferometry, Optical waveguide grating technology, Surface Plasmon resonance), Consumables & Instruments, Applications (Lead Generation, Binding Kinetics), End user - Global Forecasts & Trends to 2018
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