Immunofluorescence Assay Market Worth 2.01 Billion USD by 2023

PUNE, India, February 28, 2018 /PRNewswire/ --

According to a new market research report "Immunofluorescence Assay Market by Product (Reagent, Primary & Secondary Antibody, Kit, Imaging Equipment, Immunofluorescence Microscopy), Type (Direct, Indirect), Disease (Cancer, Cardiovascular, Infectious Disease) & End User - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to reach USD 2.01 Billion by 2023 from an estimated USD 1.51 Billion in 2018, at a CAGR of 5.8%. The increasing prevalence of chronic diseases, increasing R&D spending, and increasing healthcare spending are the major factors driving the growth of the Immunofluorescence Assay Market.

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"By product, the reagents segment accounted for the largest share of the Immunofluorescence Assay Market in 2017." 

On the basis of product, the reagents segment accounted for the largest share of the global Immunofluorescence Assay Market. The large share of this segment is due to growing applications of biosciences and biotechnology within the pharmaceutical and healthcare fields, the rising prevalence of a number of diseases, growing R&D activities, and government initiatives to strengthen national research capabilities are driving the growth of the reagents segment.

The cancer segment holds the largest share in 2017 

Based on disease, the cancer segment accounted for the largest share of the Immunofluorescence Assay Market. The large share of this segment can be attributed to the fact that the increasing prevalence of cancer across the globe and the widespread adoption of immunofluorescence techniques for the study and diagnosis of cancer.

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"By type, the indirect immunofluorescence segment held the largest market share of the Immunofluorescence Assay Market in 2017" 

Based on type, the immunofluorescence assay is segmented into direct and indirect immunofluorescence. The indirect immunofluorescence assay accounted for the major share of the Immunofluorescence Assay Market. The advantages of indirect immunofluorescence technique such as its sensitivity, flexibility, better amplification of the signal, and lower cost-over direct immunofluorescence is the key factor increasing the adoption of this technique.

"By end user, the pharmaceutical and biotechnology companies segment held the largest market share of the immunofluorescence market in 2017" 

Based on end user, the pharmaceutical and biotechnology companies segment accounted for the largest share of the Immunofluorescence Assay Market. Factors contributing to its largest share include the increasing use of immunofluorescence assay in the study of various diseases and drug discovery & development processes in pharmaceutical and biotechnology companies.

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"North America dominated the market in 2017" 

North America accounted for the largest share of the Immunofluorescence Assay Market in 2017, followed by Europe and Asia Pacific. The rising incidence of chronic & infectious diseases, increasing R&D spending, increasing research activities, favorable government funding opportunities, and the presence of key players in the region are the major factors responsible for the large share of North American Immunofluorescence Assay Market.

The prominent players in the global Immunofluorescence Assay Market are Thermo Fisher (US), Inova Diagnostics (US), and PerkinElmer (US) held the major share of the Immunofluorescence Assay Market. Other major players operating in this market are Merck Millipore (US), Bio-Rad (US), Abcam (UK), Cell Signaling Technology (US), MEDIPAN GMBH (Germany), Sino Biological (China), Danaher (US), and Vector Laboratories (US).

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