Availability of advanced immunofluorescence assays kits and reagents, growing healthcare burden of chronic diseases, and increasing investments in healthcare sector
The global immunofluorescence assay (IFA) market size is expected to reach USD 4.01 billion by 2028 at a CAGR of 6.3%, according to the latest report by Reports and Data. Increasing global healthcare burden of chronic and infectious diseases, rising application of immunofluorescence assays in clinical diagnostics and research, and growing investments and expenditure in healthcare sector are key factors expected to drive market revenue growth over the forecast period.
Immunofluorescence assay is a microscopic technique primarily used on microbiological samples, which uses the specificity of antibodies to their antigens. Antibodies are labelled with fluorescent dye and the subsequently formed antigen-antibody complex can be visualized using fluorescent microscope. Immunofluorescence assays are of two types: direct immunofluorescence, which uses primary antibody that is conjugated to fluorescent dye and indirect immunofluorescence in which a secondary antibody is conjugated with fluorophore against a primary antibody that is used for detection. IFA is a standardized technique extensively used in virology to determine the presence of antibodies by their specificity to viral antigens that are expressed by the infected cells. Immunofluorescence assays have also been used to develop antibodies against SARS-CoV-2 to enable efficient detection and curb the spread of the virus, and this trend is expected to continue going ahead.
Development of advanced medical facilities, increasing biopharmaceutical R&D, rising focus on antibody-based therapies, and increasing number of preclinical and clinical research studies globally are some of the key factors expected to drive market growth over the forecast period. However, lack of skilled professionals and techniques and high costs of assays are expected to hamper market growth to a certain extent over the forecast period.
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Key Offerings of the Global Immunofluorescence Assay (IFA) Market Report:
- Deep insights into the Immunofluorescence Assay (IFA) market landscape
- Key details about the regional segmentation of the Immunofluorescence Assay (IFA) market
- Analysis of the crucial market trends with regards to both current and emerging trends
- Extensive overview of the key manufacturers and prominent players of the industry
- Comprehensive study of the market segmentation and recent developments
Market Dynamics:
Ongoing efforts of key players to develop advanced therapeutics and drugs, rapid adoption of advanced technologies such as artificial intelligence, additive manufacturing, ad blockchain technologies, among others, and growing focus on precision medicine have led to rapid changes in the pharma and healthcare industry. Legalization and acceptance of medical marijuana, rising focus on connected devices in healthcare sector, and popularization of beyond-the-pill have further revolutionized the healthcare industry. The emergence of COVID-19 pandemic has played a crucial role in the progress of healthcare industry with rapid shift in focus on preventive healthcare, increasing awareness about health and wellness, growth of telemedicine and teleconsultation, and rapid adoption of advanced technologies to cater to the growing patient pool.
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Competitive Landscape:
The report offers a comprehensive overview of the competitive landscape of the market to offer key insights about the key companies operating in the market. The section discusses in detail the initiatives and innovations adopted by the key players to gain a strong foothold in the market. It also provides insights into mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others to offer a better understanding of the market.
Key companies in the market include:
Thermo Fisher Scientific, Inc., Merck KGaA, Danaher Corporation, Abcam Plc, Bio-Rad Laboratories, Inc., PerkinElmer Inc., Werfen Company, Agilent Technologies, Cell Signaling Technology, Inc., MEDIPAN GmbH, Enzo Biochem, Inc., Becton, Dickinson and Company, Bruker Corporation, and EpiGentek Group, and others.
Some Key Highlights From the Report:
- Kits segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing demand for complete solutions, calibrated reagents and controls from pharmaceutical and biotechnology companies, and CROs.
- Indirect immunofluorescence segment is expected to register fastest revenue growth during the forecast period attributable to numerous advantages offered by the technique such as improved flexibility, sensitivity, and improved signal amplification. This technique is more cost-effective as compared to direct immunofluorescence and is also expected to drive revenue growth of this segment over the forecast period.
- Cancer segment is expected to register significant revenue growth over the forecast period attributable to high prevalence of cancer worldwide, growing healthcare burden, and increasing adoption of immunofluorescence assays in screening and diagnosis of cancer.
- Pharmaceutical and biotechnology companies segment is expected to account for a robust revenue share in the global market owing to increasing use of immunofluorescence assays in antibodies-based therapeutics research and drug discovery and development processes.
- The market in North America is expected to account for largest revenue share during the forecast period owing to increasing healthcare burden of chronic and infectious diseases, advancements in drug discovery and research, rising funding by government and other organizations, and availability of favorable reimbursement policies.
- In July 2020, Ultivue, Inc. and OracleBio joined forces in a bid to accelerate personalized tumor characterization for drug research and development by using multiplex immunofluorescence staining and imaging.
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For the purpose of this report, Reports and Data has segmented the global immunofluorescence assay market based on product, type, disease, end-use industry, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Reagents
- Kits
- Antibodies
- Instruments
- Consumables & Accessories
Type Outlook (Revenue, USD Billion; 2018-2028)
- Direct immunofluorescence
- Indirect immunofluorescence
Disease Outlook (Revenue, USD Billion; 2018-2028)
- Cancer
- Cardiovascular diseases
- Autoimmune diseases
- Infectious diseases
- Others
End-use Industry Outlook (Revenue, USD Billion; 2018-2028)
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- CROs
- Hospitals & Diagnostic Centers
Regional Analysis:
The section covers a comprehensive analysis of key regions for production and consumption ratio, import/export analysis, supply and demand dynamics, regional trends and demands, and presence of prominent players in each region. The regional analysis segments also offers a country-wise analysis to offer panoramic view of the market and help investors, clients, stakeholders, and businesses better understand the opportunities and growth scope of the Immunofluorescence Assay (IFA) market.
The regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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