Global Label-free Array System Market: Surface Plasmon Resonance Technology to Witness Rapid Growth through 2024
Label-free array system is being used on the large scale for identifying and validating new molecules for drugs. Label-free technology is suitable for target molecules that are not easy to tag. With the increasing demand by biotechnology and pharmaceutical companies, new label-free array systems are being developed with advancements in biotechnology. Some of the latest developed systems include magnetoelastic biosensors, field-effect transistors-based biosensors including a carbon nanotube, surface stress-based biosensors, and optical-based biosensors. Sensor based on surface plasmon resonance has emerged as one of the effective methods to study bio molecular interaction in a label-free array system.
Label-free array systems are being developed with the focus on providing a measurement of protein concentration and specific activity. However, label free array systems are also seen as one of the tools to aid in the characterization of drug interactions and complementary to the existing range of detection technique. Hence, companies are working on developing label-free array systems with all the features that can help in assessing difficult target classes and displace other detection technologies.
As per the report by Transparency Market Research, the global label-free array systems market is likely to register a CAGR of 5.6% between 2017 and 2024. Also, towards the end of the forecast period, the market is projected to bring in US$ 1,722.9 Million revenue.
Surface Plasmon Resonance Technology to Gain Maximum Traction in the Global Market for Label-free Array Systems
Compared to various technologies in the global label-free array systems including cellular dielectric spectroscopy and bio-layer interferometry, surface plasmon resonance is expected to gain maximum traction. Surface plasmon resonance technology is projected to surpass US$ 1,300 Million revenue by 2024 end. Surface plasmon resonance is being used for rapid label-free detection of microribonucleic acids liked with the disorders such as heart diseases and cancers. In recent years, sensor based on the surface plasmon resonance have been adapted for imaging microarray binding in real-time, providing a label-free protein microarray system.
Companies are introducing new systems to study the interaction of the protein with other molecules. This is being done to meet the increasing demand for enhanced performance and regulatory support. Additional features are being incorporated in the label-free array systems to enhance data quality and provide accurate results. For instance, features providing stability to label free array system at higher temperatures are being added.
Rapid Rise in Drug Discovery Process to Drive the Demand of Label-free Array Systems
With increasing prevalence of various chronic diseases worldwide is resulting in the rapid rise in the drug discovery, development and validation process. Pharmaceutical companies are focusing on providing effective drugs for chronic diseases. Hence, the process of identification and validation of new molecules that can act as a possible drug candidate is also increasing. To meet the growing demand for new and effective drugs, pharmaceutical companies are demanding advanced label-free array systems that can help in reducing the high cost of drug identification and validation process.
Increasing collaboration between academic institutes and pharmaceutical companies are boosting the development of label-free array systems. New label-free array systems are being developed with the ability to detect small cells, molecules, and proteins for drug discovery process.
Global Label-free Array Systems Market: Overview
Biotechnology and pharmaceutical companies use label-free array systems in the drug discovery process. It works on the principle of refractive index, impedance based assays, and optical interferometry for identifying and validating new molecules as the possible drug candidates. This reduces the cost and time for drug identification and validation process. This report on the global label-free array systems market offers current scenario in the market as well as future market potential for the forecast period 2017-2024.
The report includes an executive summary that provides analysis of both qualitative and quantitative data on the global market for label-free array systems. The report also focuses on the major factors such as market drivers, key trends, opportunities, and challenges. The report also includes SWOT analysis, market attractiveness analysis, and Porter’s five force analysis to provide better idea of the market. In addition, the report also provides information on the key industry developments including the major events that took place in past and the event that are likely to occur during the forecast period 2017-2024.
Global Label-free Array Systems Market: Segmentation
The global label-free array systems market is segmented based on the technology, end users, and applications. The global market for label-free array systems based on the key segments also include sub-segments on applications, technologies, and end users. In-depth analysis for all the segments have been done on the basis of usage pattern, geographic presence, sales revenue, and technological developments. The report also offers data in terms of market size and forecast in terms of revenue for all the segments and sub-segments for the forecast period 2017 to 2024. The report has considered 2016 as the base year. The report also offers the (CAGR) for the global as well as segments in the global label-free array systems market.
Global Label-free Array Systems Market: Regional Outlook
Region-wise, the global market for label-free array systems has been segmented into Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa (MEA). The report offers forecast on the market size, and expected revenue to be generated by each region in the global label-free array market during 2017 to 2024. The region also provide details on the growth of regions in terms of technology, end-users, and applications. The regions are segmented into countries to provide a clear picture on the growth of the market during 2017 to 2024.
Global Label-free Array Systems Market: Leading Players
The report also offers a section on the leading players in the global market for label-free array systems. The report provides detailed profiles on all the major market players to help in identifying growth opportunities and stay competitive in the market. The report also focuses on the market share of each of the companies operation in the global label-free array systems market. Recommendations has also been offered in the report for existing players as well as new entrants in the global label-free array market. This information help new companies to work towards increasing their market share. The companies in the report are evaluated on various key parameters including business overview, product portfolio, long-term and short-term strategies, financial overview, and latest developments in the market.