Global Label-free Detection (LFD) Market 2017-2021
About Label-free Detection (LFD)
LFD technology is used in the process of drug discovery. The main use of LFD technology is kinetics and analysis during drug discovery. LFD technology is widely used for end-point screening and specificity testing. Some of the benefits of LFD technology include faster turnaround time, real-time kinetic analysis, and others. LFD technology has replaced radioactive assay and enzyme-linked immunosorbent assay (ELISA). It helps study the interaction between drug and target.
Technavio’s analysts forecast the global label-free detection (LFD) market to grow at a CAGR of 10.76% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global label-free detection (LFD) market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Label-free Detection (LFD) Market 2017-2021
Technavio recognizes the following companies as the key players in the global label-free detection (LFD) market: Bio-Rad Laboratories, GE Healthcare, and F.Hoffman-La Roche.
Other Prominent Vendors in the market are: AMETEK, Attana, BiOptix, Corning, Juno Therapeutics, Pall, and SymCel.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is potential opportunities for POL. Across the globe, there is neither uniformity nor support for the use of decentralized IVD tests in primary healthcare and outpatient settings. These tests are often performed in POL. The payers, regulators, and administrators are required to address the importance of POL testing as there are technical advances in portable IVD instruments.”
According to the report, one driver in the market is rise in drug discovery programs. The increasing incidence of chronic diseases such as respiratory diseases, chronic kidney diseases, leukemia, and others have contributed to the rise in drug discovery. Various drug discovery programs organized by many academic and research institutes across the world. The drug development helps in testing the toxicity of drug and efficacy at the target tissue or organ in a patient. Rise in drug discovery results in an increased demand for personalized medicines in the market. The market also witnesses an increase in partnership between academic research institutes and major pharmaceutical/ biotechnology companies.
Further, the report states that one challenge in the market is strained laboratory budgets and decline in reimbursement. The reimbursement policies for diagnostic testing are not constant across different geographies and they are moving in downward trend. The hospitals and diagnostic laboratories that are the primary end-user group are forced to reduce their expenditure on in-vitro diagnostic (IVD) instruments to have either break even or profitable revenue. There are workforce shortages at clinical laboratories and frequent visits to the doctor by patients who have lost their health insurance cards. These conditions have forced clinical laboratories to find alternative ways to maintain revenue despite limited capacity and testing volumes.
Bio-Rad Laboratories, GE Healthcare, F.Hoffman-La Roche, AMETEK, Attana, BiOptix, Corning, Juno Therapeutics, Pall, and SymCel.
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