Immunofluorescence Assay Market

Global Immunofluorescence Assay Market Size (2023 to 2028)

The global immunofluorescence assay market is expected to grow to USD 4.25 billion by 2028 from USD 3.01 billion in 2023, with a steady CAGR of 7.14% from 2023 to 2028.

Global Immunofluorescence Assay Market Share Insights:

• Based on the product, the kits segment dominated the market in 2022.
• The cancer segment led the immunofluorescence assay market based on the disease in 2022.
• The North American immunofluorescence assay market held the major share of the worldwide market in 2022.  
• Thermo Fisher, Bio-Rad Laboratories, Inc., Abcam, PerkinElmer Inc., and Werfen are a few of the noteworthy players in the immunofluorescence assay market.

A standard virologic technique called immunofluorescence assay, or IFA, helps identify specific antibodies' presence through their ability to react with viral antigens expressed in infected cells. Visualization is done by incubation with fluorescently labeled antihuman antibodies. Amongst the Direct and Indirect immune fluorescence types, the most used is indirect Immunofluorescence since it confirms assay in HIV diagnosis as intense cytoplasmic Immunofluorescence is observed in the cells in multiple fields. Therefore, it continues to be utilized in laboratories with extensive experience with the assay.

Impact of Covid-19 on the Global Immunofluorescence Assay Market:

The Covid-19 pandemic positively affected the immunofluorescence assay market due to the excruciating need to screen many patients for potential Sars-Cov-2 infection to monitor the primary source of concern. In addition, it made various biopharmaceutical companies and research organizations use immunofluorescence assay to evaluate and develop it as an effective diagnostic tool for people consuming immunity-booster products to prevent the transmission of coronavirus by increasing immunity.

MARKET DRIVERS:

Increasing R&D spending, offering potential growth opportunities by emerging markets, and growing healthcare spending, increasing automation of laboratories are propelling the immunofluorescence assay market.

The growing deployment of immunofluorescence assays in the detection of viral antigens, increased availability of sophisticated kits and reagents, investments in R&D by various governmental and non-governmental organizations, and increasing use of immunofluorescence tests in diagnostic and research studies are further expected to fuel the market growth.

YOY rise in the incidences of chronic and infectious diseases to augment market growth.

The changing dietary habits, lifestyle, and improper weight management contribute to the rapid growth of chronic conditional diseases since it is widely used in diagnosis and drug development activities. Accounting for $3.8 trillion in annual healthcare costs, approximately 6 in 10 adults in the USA are affected by chronic disease, according to the Centers for Disease Control and Prevention. Therefore, the increasing prevalence of chronic diseases is expected to boost demand for immunofluorescence assay during the forecast period. This substantial growth is due to various chronic diseases like inflammatory bowel disease, intestinal cancer, Alzheimer's disease, HIV AIDS, Crohn's disease, diverticulitis, and ulcerative colitis.

Technological advancements are another significant factor boosting the IFA market, due to which the immunofluorescence assay market is gaining popularity. The improved versions of kits and reagents are another reason for the increased demand. Furthermore, to address special technical requirements for the diagnosis of novel viruses like COVID-19 and to bolster their market position, companies engaged in immunofluorescence assay are concentrating on producing technologically innovative solutions which drive market growth.

MARKET RESTRAINTS:

Some restraining factors that might lead to the downfall of the IFA market include the high rate of diagnostic kits, the potential of cross-reactivity, providing lower signal, and the gaining popularity of alternative procedures for treating chronic diseases instead of using IFA. In addition, higher costs of other associated products, diversion of researchers and clinicians towards safer and more effective tests, quality concerns over antibodies, and shortage of skilled labor are some significant factors that show significant drawbacks to the market growth.

REPORT COVERAGE:

This research report on the global immunofluorescence assay market has been segmented and sub-segmented based on the product, type, end-user, & region.

Immunofluorescence Assay Market - By Product:

• Reagents
  • Stains & Dyes
  • Media & Sera
  • Fixatives
  • Buffers
  • Probes
  • Solvents
  • Other Reagents
• Instruments
  • Microscopes
  • Imaging Analysis Systems
• Antibodies
  • Primary Antibodies
  • Secondary Antibodies
• Kits
• Consumables & Accessories

Based on the product, the kits segment was the most dominant in the global immunofluorescence assay market in 2022 and is estimated to progress at a healthy CAGR during the forecast period owing to the demand for complete solutions from a single provider, with calibrated measurements among CROs, and quantity of reagents, like that provided by a closed system. The procedure of the immunofluorescence test involves a visualization approach for detecting antibodies by incubating them with fluorescently labeled antihuman antibodies and commonly studied for glycans, proteins, tiny non-biological substances, and biological substances.

The instruments segment is also expected to hold a significant share in the market due to its use in clinical diagnostic instruments like chemistry analyzers, slide processing systems, immunoassay analyzers, centrifuges, hematology analyzers, imaging analysis systems, microscopes, and other analytical instruments, and the rising prevalence of chronic and infectious diseases among people.

Immunofluorescence Assay Market - By Type:

• Indirect Immunofluorescence
• Direct Immunofluorescence

Based on type, indirect Immunofluorescence is expected to show the highest growth rate due to significant factors like advantages of better amplification of the signal, flexibility, sensitivity, lower cost over direct Immunofluorescence, and easy-to-change signal color based on changing the second antibody, which is relatively cheaper than primary antibodies, further boosting the segment growth.

Direct Immunofluorescence is also expected to show a high growth rate owing to its use in various applications. It is generally a one-step histological staining approach that uses a single antibody labeled with a fluorophore to stain the tissues or cells and identify in vivo antibodies linked to tissue antigens.

Immunofluorescence Assay Market - By Disease:

• Cancer
• Infectious Diseases
• Cardiovascular Diseases
• Autoimmune Diseases
• Other Diseases

Based on disease, the cancer segment is expected to augment the growth of the immunofluorescence assays market due to the high prevalence of cancer, the growing burden on healthcare, widespread adoption of immunofluorescence techniques for the study and diagnosis of cancer. The global cancer burden reported over 18.1 million new cases and 9.6 million deaths, according to the World Health Organization, in 2018, making it essential to treat this disease using efficient technology like IFA, driving the global immunofluorescence assay market.

Immunofluorescence Assay Market - By End-user:

• Pharmaceutical & Biotechnology Companies
• Academic & Research Institutes
• Hospitals & Diagnostic Centres
• Contract Research Organizations

The pharmaceutical & biotechnology companies segment is anticipated to hold the largest market share over the forecast period for the rising use of this technology in various applications like drug discovery & development processes and the study of various diseases.

The hospitals & diagnostics centers segment shows the highest growth rate. This can be attributed to the increasing number of hospitals worldwide and the rising number of cases of various diseases that need quick and efficient treatment. Also, cost-effective treatments are the major driving factors for this segment's growth.

Immunofluorescence Assay Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Geographically, North America led the market in 2021 owing to the high chronic disease incidences, enhanced medical infrastructure, improved technology, and growing cases of infectious diseases, which are easily diagnosed and treated by immunofluorescence assay. In addition, laboratory automation, new product launches, favorable reimbursement scenario, strong expansion potential, and rising incomes in various economies are other factors leading to its dominance.

Europe is another promising region for the immunofluorescence assay market worldwide. Europe has significant R&D investments, a growing incidence of chronic diseases, the growing presence of key market players, growing awareness regarding the use of advanced technology. Furthermore, the growing focus on providing favorable government funding policies for market growth and increased adoption of advanced technological systems for disease diagnosis lead to the growth of the IFA market in this region.

The market in the Asia Pacific region is anticipated to show the highest CAGR over the forecast period owing to the rising demand for improved products, increasing number of market players in the well developing economic countries like India, China, and Japan, increasing demand for improved technologies in diagnostics as well as academic purpose. Such increasing chances of business opportunities in these sectors are expected to show a high growth rate over the forecast period in the immunofluorescence assay market.

In the regions of Latin America, the Middle East, and Africa, factors such as an established healthcare infrastructure, increasing healthcare spending, improving healthcare infrastructure, and high prevalence of diseases in the region in the case of chronic diseases like cancer and various infectious diseases, and favorable government initiatives are driving the growth of the immunofluorescence assay market, due to which these regions are expected to show relatively moderate growth rate for a large number of developing economies in these regions.

KEY MARKET PARTICIPANTS:

A few of the notable companies operating in the global immunofluorescence assay market include Thermo Fisher Scientific Inc. (US), Abcam (UK), PerkinElmer Inc. (US), Inova Diagnostics, Inc. (US), Bio-Rad Laboratories, Inc. (US), MEDIPAN GMBH (Germany), Sino Biological (China) Merck Millipore (US), Cell Signalling Technology (US), and Danaher Corporation (US).

RECENT HAPPENINGS IN THIS MARKET:

• In September 2022, an industry leader in multiplexing tools, Utivue, Inc., and Translational Research Unit (TRU), which develops novel workflows for tissue microarray, announced a collaborative agreement for promoting multiplexed Immunofluorescence (MIF) assays to enable improved signal for a short and comprehensive exploration of biologically relevant targets, to promote and the use of next generation, and to unlock spatial analysis in scientific research of TMAs.
• In April 2022, Ultivue, an industry leader in multiplexing tools for tissue biomarker analysis, and the global leader in AI-based diagnostic software in pathology, Paige, announced a partnership of collaborating on the co-development and co-marketing of AI-powered spatial immunophenotype, which has the capabilities to help pharmaceutical, research customer, and helps the pathologists review cases for supporting the workflow.