Immunofluorescence Assay Market Size, Share, Growth Report 2032

Immunofluorescence Assay Market Size & Industry Analysis:

The global immunofluorescence assay market size was worth around USD 2.6 billion in 2021 and is predicted to grow to around USD 4.5 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.2% between 2022 and 2030. The report analyzes the global immunofluorescence assay market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the immunofluorescence assay market. 

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Immunofluorescence Assay Market: Overview

Immunofluorescence is an antibody and antigen reaction in which antibodies are well labeled with a fluorescent dye and it is identified with the help of a fluorescent microscope. Some of the fluorochromes that are widely used are calcofluor white, rhodamine, lissamine, and acridine orange. However, various factors like cross-reactivity, sensitivity, flexibility, complexity, cost, time consumed, and others affect the immunofluorescence assays. The immunofluorescence assays are performed both ways direct and indirect immunofluorescence. It is a specific technique widely used for light microscopy with a fluorescence microscope and utilized mostly on microbial samples.

Key Insights

• As per the analysis shared by our research analyst, the global immunofluorescence assay market is estimated to grow annually at a CAGR of around 6.2% over the forecast period (2022-2030).
• In terms of revenue, the global immunofluorescence assay market size was valued at around USD 2.6 billion in 2021 and is projected to reach USD 4.5 billion, by 2030.
• The increasing prevalence of chronic disease is expected to drive the growth of the market during the forecast period.
• Based on the product, the kits segment accounted for the largest revenue share in 2021.
• Based on the type, the indirect immunofluorescence segment is projected to dominate the market during the forecast period.
• Based on disease, the cancer segment is expected to dominate the market over the forecast period.
• Based on the end-use industry, the pharmaceutical & biotechnology companies are expected to hold the largest market share over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Immunofluorescence Assay Market: Growth Drivers

Increasing prevalence of chronic disease to drive the market growth

Chronic diseases are now more common than ever, and they are responsible for more than half of the world's healthcare costs. Due to poor food choices, sedentary lifestyles, obesity, increased alcohol consumption, and smoking, major chronic diseases such as cancers, diabetes, neurological disorders, autoimmune conditions, cardiovascular diseases, intestinal diseases, and lung disorders have increased dramatically.

Additionally, escalating worries about viral infections have led health organizations all over the world to set up research labs that can examine novel viruses and stop possible epidemics. Due to their increased ability to accurately detect viral antigens and trace the distribution of glycan and proteins inside a sample, these factors have increased the demand for immunofluorescence assays.

For instance, immunofluorescence assays have been widely used to identify SARS-CoV-2 because they enable pathologists and researchers to quickly see the dynamics and effects of viral infections. This has given drug discovery and development a major boost and is anticipated to greatly improve global immunofluorescence assay market revenue growth during the forecast period.

Immunofluorescence Assay Market: Restraints

The high cost of instruments used in immunofluorescence assay is expected to hamper the market growth

The reagents and consumables required in the assays, as well as imaging tools and equipment like fluorescence microscopes, are expensive. Regular maintenance of expensive instruments and the frequent procurement of these reagents and kits raise costs, which is a major constraint limiting market expansion.

Immunofluorescence Assay Market: Opportunities

Increasing demand for immunofluorescence assay from developing economies to flourish the market growth

It is anticipated that growing nations like Brazil, China, and India will offer profitable opportunities for global immunofluorescence assay market expansion. The high frequency of chronic and infectious diseases, rising healthcare costs, and an increase in the number of R&D projects by various organizations are all factors that have been identified as contributing to the rise of these economies' healthcare markets. Thus, the aforementioned facts supported the market growth during the analysis period.

Immunofluorescence Assay Market: Challenges

The lack of skilled professionals is the major restraining factor for the market expansion

The growing prevalence of chronic disease has increased the demand for pathology services for clinical applications. The bulk of cancer patient tests is performed using histopathology technologies. However, these laboratories are short on trained personnel. Many histopathologists have reached retirement age, and only a few are being trained. Thus, the lack of skilled professionals is the major restraining factor for the market growth during the forecast period.

Immunofluorescence Assay Market: Segmentation

The global immunofluorescence assay market is segmented based on product, type, disease, end-use industry, and region

Based on the product, the global market is bifurcated into reagents, kits, antibodies, instruments, and consumables & accessories. The kits segment accounted for the largest revenue share in 2021 and is expected to show its dominance during the forecast period. The growth in the segment is attributed to the Rising demand for calibrated reagents and solutions from academic institutions, CROs, and research organizations. Increasing development of full solutions. Immunofluorescence tests are predicted to be used more often in clinical diagnostics and research, which will increase demand for assay kits and support future revenue growth for this market.

Based on the type, the global immunofluorescence assay market is bifurcated into direct immunofluorescence and indirect immunofluorescence. The indirect immunofluorescence segment is expected to dominate the market over the forecast period. The benefits provided by the method, such as improved flexibility, sensitivity, and better signal amplification, can be credited to its steady expansion.

One of the main benefits of indirect immunofluorescence assay is that it eliminates the need to conjugate each new antibody individually because one fluorescent anti-immunoglobulin antibody is sufficient for a variety of primary antibodies. This significantly lowers the assay's overall cost.

Over the projected period, the cost-effectiveness of this method compared to direct immunofluorescence is also anticipated to support this segment's market growth. In addition, secondary antibodies used in indirect immunofluorescence are more affordable than primary antibodies, which is anticipated to support future revenue growth in this market.

Based on disease, the global market is divided into cancer, cardiovascular disease, autoimmune disease, infectious disease, and others. The cancer segment accounted for the largest market share in 2021. Globally, the incidence of cancer is increasing quickly, and immunofluorescence techniques are being used more frequently for cancer screening and diagnosis due to their expanding popularity and improved sensitivity.

Based on the end-use industry, the global immunofluorescence market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, CROs, and hospital & diagnostic centers. The pharmaceutical & biotechnology companies are expected to hold the largest market share over the forecast period.

The segment growth is attributed to the increasing application of immunofluorescence assays in drug discovery and development processes to study the etiology of diseases, the increasing deployment of laboratory automation technologies, and technological developments in immunofluorescence assays. In addition, the growing demand for fluorescence microscopy and subsequent use of immunofluorescence samples in biotechnology and biopharmaceutical research is expected to drive revenue growth of this segment over the forecast period.

Recent Developments:

• In January 2022, PeproTech was acquired by Thermo Fisher Scientific Inc. for approximately USD 1.85 billion in cash. The company offered a variety of ELISA immunofluorescence kits.
• In April 2021, a compact immunofluorescence microscope called the EuroPattern Microscope Live was introduced by EUROIMMUN, a PerkinElmer company that provides medical laboratory products throughout the world for autoimmune and molecular genetic diagnoses. The new tool enables titer estimate, pattern recognition, and ultrafast automated immunofluorescence image collection. It uses cutting-edge laser focusing technology to quickly capture and analyze high-quality immunofluorescence images.

Immunofluorescence Assay Market Report Scope:

Immunofluorescence Assay Market: Regional Analysis

North America is expected to dominate the market during the forecast period

North America is predicted to lead the overall market throughout the projection period. The presence of key players, the high prevalence of diseases in the region, and the established healthcare infrastructure are some of the key factors responsible for the market's huge share. According to OECD data, 17,149 coronary artery bypass graft procedures will be conducted in Canada in 2020.

Similarly, according to data from the American Heart Association 2022, 56.1% of adults in Mexico had high levels of LDL-C, or bad cholesterol, which is regarded to be the leading risk factor for cardiovascular disease. Similarly, the growing demand for effective diagnostic solutions to receive the correct treatment for chronic diseases is likely to fuel market expansion in the United States. According to the American Cancer Society's Cancer Facts & Figures 2022 data, an estimated 1.9 million new cancer cases were identified.

As a result, the region's prevalence of chronic diseases is expected to generate more possibilities for the development of immunofluorescence assays during the projection period.

During the forecast period, the Asia Pacific region is anticipated to grow at the highest CAGR, which can be attributed to the region's aging population, rising healthcare facility development spending, rapid growth in R&D activity, and expanding key player presence in countries like China, Japan, and India.

Immunofluorescence Assay Market: Competitive Analysis

The global immunofluorescence assay market is dominated by players like Danaher, Sino Biological Inc., Enzo Life Sciences, Inc., Agilent Technologies, Inc., BD, Merck KGaA, PerkinElmer Inc., Bio-Rad Laboratories, Inc., Abcam plc., Thermo Fisher Scientific Inc., MaxVision Biosciences Inc, AESKU GROUP GmbH, Elabscience, Inc., EpiGentek Group, Abnova Corporation, J. Mitra & Co. Pvt. Ltd., Celebs, Zyagen, Inc., Bruker Corporation among others.

The global immunofluorescence assay market is segmented as follows:

By Product

• Reagents
• Kits
• Antibodies
• Instruments
• Consumables & Accessories

By Type

• Direct Immunofluorescence
• Indirect Immunofluorescence

By Disease

• Cancer
• Cardiovascular Disease
• Autoimmune Disease
• Infectious Disease
• Others

By End-use Industry

• Pharmaceutical & Biotechnology Companies
• Academic & Research Institutes
• CROs
• Hospital & Diagnostic Centers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa