CHICAGO, Nov. 20, 2023 /PRNewswire/ -- ELISpot and FluoroSpot Assay Market in terms of revenue was estimated to be worth $ 292 million in 2023 and is poised to reach $ 421 million by 2028, growing at a CAGR of 7.6% from 2023 to 2028 according to a new report by MarketsandMarkets.
The growth of this market is majorly due to by Increasing use of ELISpot and FluoroSpot assays in the field of malignancy. However, Dearth of skilled professionals is one of the challenges for which may hinder the growth of this market.
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ELISpot and FluoroSpot Assay Market Scope:
Report Coverage | Details |
Market Revenue in 2023 | $292 million |
Estimated Value by 2028 | $421 million |
Growth Rate | Poised to grow at a CAGR of 7.6% |
Market Size Available for | 2020-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product, Application, End User, and Region |
Geographies Covered | North America (US, Canada), Europe (Germany, France, UK, Spain, Italy, and RoE), APAC (China, India, Japan, and the RoAPAC), and Rest of the World. |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Use Of Fluorospot Assays For Multiple-Analyte Detection In Single Well |
Key Market Drivers | Increasing Incidence Of Chronic And Infectious Diseases And Growing Awareness About Early Disease Diagnosis |
EliSpot Assay kits in the kits product segment to witness the highest shares during the forecast period.
Based on the product, Based on the product, the ELISpot and FluoroSpot Assays Market is classified into Assay Kits (By Technique - ELISpot Assay Kits, FluoroSpot Assay Kits., By Utility - Research Kits, Diagnostic Kits., By Analyte - T-cell-based Kits, B-cell-based Kits, Other Analyte Kits), Analyzers, Ancillary Products. The EliSpot Assay kits, segment is expected to dominate because of its wider application Assay kits typically offer a user-friendly and convenient solution for researchers and laboratories. They often come with pre-packaged reagents and standardized protocols, simplifying the assay process. Likewise, assay kits can be designed to cater to a wide range of users, from experienced researchers to those with less specialized expertise. This accessibility broadens the market and increases the adoption of EliSpot and FluoroSpot assays.
US dominates the North American ELISpot and FluoroSpot Assays Market
Based on the North America region, the ELISpot and FluoroSpot Assays Market is divided into US and Canada. US is expected to dominate the ELISpot and FluoroSpot Assays Market. The United States has a highly advanced and sophisticated healthcare infrastructure, including research facilities, laboratories, and healthcare institutions. This infrastructure supports the development, adoption, and implementation of advanced diagnostic technologies such as EliSpot and FluoroSpot assays. Similarly, The U.S. is a global hub for biomedical research and innovation. The presence of leading research institutions, academic centers, and biotechnology companies fosters a conducive environment for the development and validation of novel diagnostic as well as research assays.
China dominates the Asia Pacific ELISpot and FluoroSpot Assays Market
The APAC ELISpot and FluoroSpot Assays Market is segmented into Japan, China, India, and Rest of Apac. In 2023, China accounted for the largest share of the Asian ELISpot and FluoroSpot Assays Market. The large share of China can be attributed to the economic growth in the country, the increasing incidence of chronic diseases and the rising focus on vaccine development and cancer research, growth in the geriatric population, and favourable government support.
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ELISpot and FluoroSpot Assay Market Dynamics:
Drivers:
- Increasing incidence of chronic and infectious diseases and growing awareness about early disease diagnosis
- Increasing vaccine development to address challenges of antimicrobial resistance
- Increasing use of ELISpot and FluoroSpot assays in oncology
- ELISpot assays as diagnostic tool in drug hypersensitivity reaction
- Growth in biotechnology and biopharmaceutical industries
Restraints:
- Stringent requirements for approval of ELISpot and FluoroSpot assay instruments and consumables
- High cost of assays kits and analyzers
Opportunities:
- Use of FluoroSpot assays for multiple-analyte detection in single well
Challenge:
- Availability of alternative detection technologies
- Dearth of skilled professionals
Key Market Players of ELISpot and FluoroSpot Assay Industry:
The major players in the ELISpot and FluoroSpot Assays Market are Oxford Immunotec USA, Inc. (Subsidiary of Revvity Inc.) (UK), Becton, Dickinson and Company (BD) (US), Cellular Technology Limited (CTL) (US), Mabtech (Sweden), Abcam plc. (UK), Bio-Techne (US), Merck KGaA (Germany), Autoimmun Diagnostika GmbH (Germany), and U-CyTech (Netherland)
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 32%, Tier 2 - 44%, and Tier 3 - 24%
- By Designation: C-level - 30%, D-level - 34%, and Others - 36%
- By Region: North America - 40%, Europe - 28%, Asia Pacific - 20%, and the Rest of the World - 12%
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Recent Developments:
- In 2022, The company Mabtech (Sweden) had made ELISpot kits available in a 100-plate format. Pre-coated plates are also included to save time and reduce assay variability. In 2022, The company also made available the Human IL-21 analyte in two colors in its FluoroSpot Flex platform.
- In 2021, The company Cellular Technology Limited (CTL) (US) launched ImmunoSpot kits that contain precoating quality controlled (PCQC) plates, thereby adding an essential audit trail to ELISPOT analysis.
This report provides insights on the following pointers:
- Market Drivers: Comprehensive information about driving factors of the markets. The report analyses the markets drivers across key geographic regions.
- Market Penetration: Comprehensive information on ELISpot and FluoroSpot assay products offered by the top 25 players in the market. The report analyses the ELISpot and FluoroSpot Assays market by product, application, end user and region.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyses the markets for various securement devices across key geographic regions.
- Market Diversification: Exhaustive information about untapped geographies, recent developments, and investments in the ELISpot and FluoroSpot Assays market
- Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the ELISpot and FluoroSpot Assays market
- Market Position: It will upkeep stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies.
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