The global label-free detection market size is estimated to be USD 431 million in 2020 and projected to reach USD 626 million by 2025, at a CAGR of 7.7%. Growth in this market is largely driven by the introduction of technologically advanced products, a growing number of drug discovery programs through academic-industrial partnerships, and the high sensitivity of label-free technologies.
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Some of the leading players in the label-free detection market include Danaher (US), Sartorius AG (Germany), Waters Corporation (US), PerkinElmer Inc. (US), AMETEK, Inc. (US), HORIBA Ltd. (Japan), Spectris (UK), METTLER TOLEDO (US), Corning Incorporated (US), and Agilent Technologies, Inc. (US).
Danaher (US) is a leading player in the label-free detection market. The company strategically focuses on achieving significant growth in existing and new business segments by accelerating its R&D activities to develop innovative products. It also focuses on strengthening its position in key markets by expanding its product offerings. For instance, in 2018, the company introduced Biacore 8K+, an eight-needle high-sensitivity surface plasmon resonance (SPR) system that enables automation of over 4500 drug candidate–disease target binding experiments in one run. With its strong portfolio of label-free detection products, the company is likely to maintain its leading position in this market.
Sartorius AG is another leading player in the label-free detection market. The company entered into the label-free detection market with its recent acquisition of ForteBio, which is a global leader in this market. The company focuses on continuous innovation and product development to sustain its leading position. For instance, in 2019, ForteBio introduced a new high precision Streptavidin 2.0 (SAX2) biosensor for the Octet platform. The SAX2 biosensor minimizes variability from consumables and is controlled to meet the most stringent assay precision requirements. Similarly, the company introduced the Sialic Acid (GlyS) kit which enables high throughput glycan screening of crude samples-no purification or digestion steps required. Such innovative product launches will strengthen the company’s position in the label-free detection market.
Label-free Detection Market by Product & Service (Instruments, Consumables [Biosensor Chip], Software), Technology (Surface Plasmon Resonance), Application (Binding Kinetics), End User (Pharmaceutical & Biotechnology Companies) - Global Forecast to 2025
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