Label-free Detection Market worth $863 million by 2028, growing at a CAGR of 8.7%

(IT-NEWSWIRE.COM, November 07, 2023 ) The growth of Label-free Detection Market is driven by rising prevalence of target diseases and disorders, the availability of funding for life science research and development, effectiveness of label-free technology in drug discovery. Additionally, the technological advancement in label-free detection leading to expanded applications and adoption of label-free detection products.

The report Label-free Detection Market is projected to reach USD 863 million by 2028 from USD 570 million in 2023, at a CAGR of 8.7% during the forecast period of 2023 to 2028.

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Key Market Dynamics:

1 DRIVERS

1.1 Technological advancements in label-free detection

1.2 Growing academic-industrial partnerships for drug discovery programs

1.3 High sensitivity of label-free technologies

2 RESTRAINTS

2.1 High cost of instruments

3 OPPORTUNITIES

3.1 Growing life sciences research in emerging economies

4 CHALLENGES

4.1 Sample complexity and interference

5 TRENDS

5.1 Rising pharmaceutical outsourcing

5.2 Increasing applications of label-free electrochemical sensing platforms

Market Segmentation: -

By type, the label-free detection market has been further categorized as instruments, consumables, and software & services. The instrument segment held the largest share of the global label-free detection market in 2022.

Based on technology, the global label-free detection market has been segmented into surface plasmon resonance, differential scanning calorimetry, bio-layer interferometry, isothermal titration calorimetry, and other label-free detection technologies. The surface plasmon resonance segment held the largest market share in 2022.

Regional Analysis:

The label-free detection market in North America has experienced significant growth in recent years, showcasing a robust expansion trajectory, owing to the well-established research infrastructure, strong pharmaceutical and biotech industry, increasing government support for life science research, technological advancements in label-free technologies, and collaborative initiatives contribute to the growth of the label-free detection market in the North America region.

Recent Developments of Label Free Detection Industry

• In April 2022, Sartorius launched the new Octet SF3, the first SPR system under the Sartorius Octet brand. Octet SF3 is a next-generation SPR instrument that offers robust, high-throughput, low maintenance characterization of biomolecular interactions.

• In February 2021, Creoptix, a subsidiary of Malvern Panalytical, launched WaveRAPID, a new and faster way of measuring kinetics to accelerate drug discovery.

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Top Key Players: -

Key players in the label-free detection market include Danaher (US), Sartorius AG (Germany), Waters Corporation (US), PerkinElmer, Inc. (US), AMETEK, Inc. (US), HORIBA, Ltd. (Japan), Spectris (UK), METTLER TOLEDO International Inc., (US), Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Hitachi High-Tech Corporation (Japan), Attana AB (Sweden), Bruker (US), NanoTemper Technologies GmbH (Germany), Affinité Instruments (Canada), Biosensing Instrument (US), Unchained Labs (US), BioNavis Ltd. (Finland), Carterra, Inc. (US), Nicoya (Canada), BiOptix Analytical LLC (US), Plexera Bioscience (US), XanTec Bioanalytics GmbH (Germany), lino Biotech AG (Switzerland), and KEP Technologies (France).

The label-free detection market is influenced by factors such as advancements in technology, increasing drug discovery efforts, growing investment in life sciences research, and the need for more accurate and direct measurement of biomolecular interactions.

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Label-free Detection Market worth $863 million by 2028, growing at a CAGR of 8.7%