Immunofluorescence Assay Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Immunofluorescence Assay market studied was projected to grow with a CAGR of nearly 5.8% over the forecast period. The major factor attributing to the growth of the market is the increase in the incidence of large intestine diseases like intestinal cancer, diverticulitis, Crohn’s Disease, ulcerative colitis, and inflammatory bowel disease. According to the American Association for the Advancement of Science (AAAS), the number of people suffering from inflammatory bowel diseases is three times higher than previous estimates, with sufferers also at a higher risk of developing colorectal cancer, affecting over 3 million people across Europe. Furthermore, the growing popularity of drainable ostomy bags and increasing investments in product development is boosting the market growth. However, the gaining popularity of the alternative procedures is the major drawback of the market growth

Key Market Trends

Indirect Immunofluorescence Segment is Dominating the Immunofluorescence Assay Market.

• The advantages of indirect immunofluorescence are high sensitivity, easy to change signal color based on changing the second antibody which can get commercially. The labeled second antibodies are conveniently obtained. Secondary antibodies are relatively inexpensive compared to primary antibodies. Further cost savings may be made by using the same conjugated secondary antibody to detect different primary antibodies.
• Apart from the above-mentioned factors, other factors boosting the segment growth are increasing incidence of cancer and infectious diseases where these assays are used to diagnose. According to the World Health Organization, the global cancer burden is expected to have risen to 18.1 million new cases and 9.6 million deaths in 2018. One in 5 men and one in 6 women worldwide developed cancer during their lifetime, and one in 8 men and one in 11 women die from the disease. Furthermore, the growing investments in research and development programs by the biotechnology companies is boosting the segment growth.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to factors such as the presence of key players, high prevalence of infectious diseases and cancer in the region, established healthcare infrastructure are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and increase in number of research partnerships are some of the drivers expected to increase the market growth. In this region the United States has the maximum share due to supportive healthcare policies, high number of patients, and a developed healthcare market. According to National Institutes of Health (NIH), in 2018, an estimated 1,735,350 new cases of cancer will be detected in the United States and 609,640 people will die from the disease. The statistics prove that the prevalence of cancer is high in the country and this boosts the market growth.

Competitive Landscape

The Immunofluorescence Assay market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Thermo Fisher, Inova Diagnostics, Inc., Bio-Rad Laboratories, Inc., Abcam, PerkinElmer Inc., Merck Millipore, Cell Signaling Technology, MEDIPAN GMBH, Sino Biological, Danaher.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support