Report : Asia Pacific Label Free Detection Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Instruments and Consumables), Technology (Surface Plasmon Resonance, Bio-Layer Interferometry, Isothermal Titration Calorimetry, Differential Scanning Calorimetry, and Other LFD Technologies), Application (Binding Kinetics, Binding Thermodynamics, Endogenous Receptor Detection, Hit Confirmation, Lead Generation, and Other Applications), and End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Contract Research Organizations, and Other End Users)
The pharmaceutical and biotechnology companies segment by end user is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific Label Free Detection Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Technology, Application, End User and Country.” The Asia Pacific label free detection market is expected to reach US$ 192.41 million by 2028 from US$ 106.08 million in 2021; it is estimated to grow at a CAGR of 8.9% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific label free detection market and the factors driving market along with those that act as hindrances.
Leading Asian economies, specifically China and India, with increased investments in biotechnology and drug discovery contribute significantly to the label free detection market in Asia Pacific. Several Asian countries do not have established business models but have the talent and scientific expertise to develop strong local biotechnology industries. Thus, the number of mergers, collaborations, and partnerships is increasing in these emerging countries. Many Asian economies have altered regulations, policies, and guidelines to support investments, innovation, and commercialization.
Over the years, the pharmaceutical industry in China has shifted its primary focus to research & development of innovative treatments from the manufacturing of generics. Many pharma and biopharmaceutical companies, such as AstraZeneca, GlaxoSmithKline, Sanofi, and Ferring Pharmaceuticals, have announced their plans to invest in life science R&D activities in emerging economies in Asia Pacific in the future, which is likely to provide lucrative opportunities for the label free detection market players in the coming years.
- In July 2018, Ferring Pharmaceuticals laid the foundation for its R&D laboratory and manufacturing facility at Genome Valley, Hyderabad, India. The new facility added to the group’s global R&D capabilities and will conduct novel research for the globally emerging healthcare challenges.
- In July 2018, Sanofi, a global biopharmaceutical company, announced to establish a global R&D operations hub in Chengdu, China. The company plans to use the hub to tackle therapeutic areas, including vaccines, immunology and inflammation, and cardiovascular diseases.
- In November 2019, AstraZeneca announced large-scale initiatives in China to drive medicine R&D. The initiatives consist of establishing a new global R&D center and artificial intelligence innovation center in Shanghai, China.
Label free detection technologies provide revolutionary advancements for life science research applications. Thus, increasing life science research activities in emerging economies would accelerate the growth of the label free detection market in these countries during the forecast period.
The Asia Pacific label free detection market based on the product is segmented into instruments and consumables. Based on technology, the Asia Pacific label free detection market is segmented into surface plasmon resonance, bio-layer interferometry, isothermal titration calorimetry, differential scanning calorimetry, and other LFD technologies. The Asia Pacific label free detection market, based on application is segmented into binding kinetics, binding thermodynamics, endogenous receptor detection, hit confirmation, lead generation, and other applications. The Asia Pacific label free detection market, based on end user is segmented into pharmaceutical and biotechnology companies, academic and research institutes, contract research organizations and other end users. Geographically, the Asia Pacific label free detection market can be divided into China, Japan, India, South Korea, Australia and Rest of Asia Pacific.
General Electric, Perkin Elmer, Inc., AMETEK Inc., F. HOFFMANN-LA ROCHE LTD., Spectris, METTLER TOLEDO, Agilent Technologies, Inc., Waters Corporation, Sartorius AG and Corning Incorporated are among the leading companies operating in the Asia Pacific label free detection market.
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