Market growth is supported mainly by the growing pharmaceutical and biotechnology industries across the globe, innovations in label-free detection technologies, and the increasing number of drug discovery programs.
The Label-free Detection Market is expected to grow from USD 872 million in 2017 to USD 1.3 billion by 2022, at a CAGR of 8.5%.
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By product, the label-free detection market is segmented into instruments and consumables. Among these, the instruments segment accounted for the larger market share in 2017. With the help of technologically advanced instruments, pharmaceutical & biotechnology companies can streamline and simplify laboratory workflows to improve productivity and reduce costs. These advantages are driving the adoption of label-free detection instruments.
Based on technology, the label-free detection market is segmented into surface plasmon resonance, bio-layer interferometry, isothermal titration calorimetry, differential scanning calorimetry, and other technologies. The bio-layer interferometry (BLI) segment is expected to witness the highest growth in the label-free detection market during the forecast period. BLI is a fast and high-throughput technology that allows real-time analysis for the determination of affinity, kinetics, and concentration. It also detects real-time biomolecular interactions in micro-volume sample sizes. As a result, this technology has gained wide acceptance in recent years.
Based on the region, the label-free detection market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2017, North America accounted for the largest share of the market, followed by Europe.
The prominent players in the label-free detection market are General Electric Company (US), Danaher Corporation (US), PerkinElmer (US), AMETEK (US), Roche (Switzerland), Corning (US), Hitachi High-Technologies Corporation (Japan), HORIBA (Japan), Shimadzu Corporation (Japan), and TA Instruments (US).
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