Immunofluorescence Assay Market Expected to Expand at a Steady 2021-2026

The Global Immunofluorescence Assay Market is projected to reach USD 3.5 billion by 2026 from USD 2.6 billion in 2021, at a CAGR of 6.0% during the forecast period. The growth in this market is primarily attributed to the increasing prevalence of chronic diseases and rising R&D spending & healthcare expenditure. Emerging markets are expected to provide growth opportunities for players operating in the immunofluorescence assays market in the coming years. However, quality concerns over antibodies are the major challenge in this market.

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Browse in-depth TOC on “Immunofluorescence Assay Market”

174 – Tables

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Key Market Players

The prominent players in this market are Fresenius Medical Care AG & Co. KGaA (Germany)Baxter International Inc. (US)Cardinal Health, Inc. (US)Stryker Corporation (US)Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), Medline Industries, Inc. (US), KARL STORZ GmbH & Co. KG (Germany), Ecolab Inc. (US), Smiths Medical (UK), Zimmer Biomet Holdings Inc. (US), Medtronic plc (Ireland), FUJIFILM Holdings Corporation (Japan), CONMED Corporation (US), Hologic, Inc. (US), Arthrex, Inc. (US), Thermedx, LLC. (US), COMEG Medical Technologies (Germany), and EndoMed Systems GmbH (Germany).

Drivers: Increasing prevalence of chronic disease

Over the last few decades, the prevalence of chronic diseases has increased significantly across the globe. According to the WHO, by 2020, chronic diseases are estimated to account for 73% of all deaths and 60% of the global burden of diseases. Diabetes, cancer, infectious diseases, neurological disorders, autoimmune diseases, cardiovascular diseases, lung disorders, severe pancreatitis, and renal failure are major chronic diseases worldwide. According to the American Institute for Cancer Research, an estimated 18.1 million cancer cases were reported worldwide in 2018; this is projected to increase to 29.5 million by 2040.

Restraints: High instrument costs

In immunofluorescence assays, imaging instruments are used to visualize and locate the fluorescently labeled antibodies in a sample. These imaging instruments are expensive as they are equipped with advanced features and functionalities.

Opportunities: High growth opportunities in emerging markets

Emerging markets such as Brazil, China, and India are expected to offer potential growth opportunities to market players in the coming years. This can primarily be attributed to the diversified healthcare markets in these countries, coupled with the high incidence of infectious and chronic disorders, increasing healthcare expenditure, and the increasing number of R&D initiatives by various organizations. For example, China and India have both registered a high prevalence rate of diabetes.

Challenges: Lack of skilled professionals

The demand for pathology services has increased significantly for clinical applications due to the increasing prevalence of chronic diseases. Histopathology technologies account for the majority of the tests performed on cancer patients. However, there is a dearth of trained staff in these laboratories. Many histopathologists have reached retirement age, and only a small number of histopathologists are being trained. On the other hand, laboratories are under pressure to process an increasing number of specimens with limited staff.

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The kits segment accounted for the highest growth rate in the Immunofluorescence assay market, by product, during the forecast period

The Immunofluorescence assay market is segmented into reagents, instruments, antibodies, kits, and consumables and accessories. The kits segment accounted for the highest growth rate in the Immunofluorescence assay market in 2020. The demand for complete solutions from a single provider, like closed-system reagents with calibrated measurements of the required quantity of reagents and controls, among CROs, academic institutes, and research institutes is growing, contributing to this segment’s high growth rate.

Indirect immunofluorescence segment accounted for the highest CAGR

Based on type, the immunofluorescence assays market is segmented into indirect immunofluorescence and direct immunofluorescence. In 2020, indirect immunofluorescence accounted for accounted for the highest growth rate. The major factors driving the growth of this segment are its advantages such as sensitivity, flexibility, better amplification of the signal, and lower cost over direct immunofluorescence.

Cancer accounted for the largest share of the immunofluorescence assay market

Based on disease, the immunofluorescence assays market is segmented into cancer, infectious diseases, autoimmune diseases, cardiovascular diseases, and other diseases. The cancer accounted for the largest share of the global immunofluorescence assays market. The large share of this segment can be attributed to the increasing prevalence of cancer globally and the widespread adoption of immunofluorescence techniques for the study and diagnosis of cancer.

Pharmaceutical & biotechnology companies accounted for the largest share of the immunofluorescence assay market

Based on end user, the immunofluorescence assays market is segmented intopharmaceutical & biotechnology companies, academic & research institutes, hospitals & diagnostics centers, and contract research organizations. The pharmaceutical & biotechnology companies accounted for the largest share of the global immunofluorescence assays market. The increasing use of this technology in the study of various diseases and drug discovery & development processes are driving the growth of this segment.

North America dominates the global immunofluorescence assay market

The immunofluorescence assays market is divided into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the global immunofluorescence assays market. The large share of the North American region is mainly attributed to the rising incidence of chronic & infectious diseases, increasing R&D spending, increasing research activities, favorable government funding opportunities, and the presence of major key players in the region.

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