DUBLIN, May 16, 2022--(BUSINESS WIRE)--The "Label Free Detection Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Technology, Application, and End User" report has been added to ResearchAndMarkets.com's offering.
The label free detection market is projected to reach US$ 829.71 million in 2028 from US$ 474.82 million in 2021; it is estimated to grow at a CAGR of 8.3% from 2021 to 2028. The market growth is mainly attributed to the introduction of High-tech products
Label free detection systems are integrated systems that investigate the biomolecular interactions without quenching of labels or auto-fluorescent effects. These systems provide a rapid and real-time approach for new drug discovery. High acceptance rate for the use of this technology in pharmaceutical and biotechnology sector due to various advantages involved with the process are driving the global label free detection market.
Label free technologies are relatively new in the well-established high-throughput screening (HTS) field. The technologies probe biomolecular interactions without spatial interference, or auto-fluorescent, or quenching repercussions of labels. On average, a new drug takes at least a decade to complete the journey from initial discovery to launch in the marketplace. According to the Pharmaceutical Research and Manufacturers of America (PhRMA), the average cost of research & development for every successful drug is ~ US$ 2.6 billion. With the rising costs for drug development to treat increasingly complex diseases, improving productivity in early drug discovery processes has been challenging.
Initially, low throughput was a significant challenge associated with label free technologies. However, the introduction of surface plasmon resonance (SPR)-based label free systems with higher throughput has increased its overall operational efficiency while providing valuable data to make informed decisions.
Therefore, due to technological advancements, pharmaceutical and biopharmaceutical companies and academic research institutes adopt label free technologies for bimolecular analysis during drug discovery, which fuels the growth of the label free detection market.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Label Free Detection Market - Market Landscape
4.2 PEST Analysis
4.3 Experts Opinion
5. Label Free Detection Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Introduction of High-Tech Products
5.1.2 Growing Number of Drug Discovery Programs Through Academic-Industrial Partnerships
5.2 Market Restraints
5.2.1 High Cost of LFD Instruments
5.3 Market Opportunities
5.3.1 Increasing Life Science Research Activities in Asia Pacific
5.4 Future Trends
5.4.1 Rising Pharmaceutical Outsourcing
5.5 Impact Analysis
6. Label Free Detection Market - Global Analysis
6.1 Global Label Free Detection Market Revenue Forecast and Analysis
6.2 Global Label Free Detection Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Global Label Free Detection Market Revenue and Forecasts To 2028- by Product
8. Label Free Detection Market Analysis - By Technology
9. Label Free Detection Market Revenue and Forecasts To 2028 - Application
10. Label Free Detection Market Revenue and Forecasts To 2028 - End User
11. Label Free Detection Market Revenue and Forecasts to 2028 - Geographical Analysis
12. Impact Of COVID-19 Pandemic on Label Free Detection Market
13. Label Free Detection Market-Industry Landscape
14. Company Profiles
Perkin Elmer, Inc.
F. Hoffmann-La Roche
Agilent Technologies, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/eqv6fn
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