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How has the immunofluorescence assay market grown over the years?

In recent times, there has been a notable upward trend in the market size of the immunofluorescence assay. The market, which stands at $3.34 billion in 2024, is projected to observe a spike to $3.59 billion by 2025, advancing at a compound annual growth rate (CAGR) of 7.4%. Factors contributing to the growth during the historic span include an upsurge in disease diagnoses, a rise in research and development activities, an increase in autoimmune diseases, a growth in cancer diagnostic procedures, and an expansion in virology research.

What Is the forecasted market size and growth rate for the immunofluorescence assay market?

The market size of the immunofluorescence assay is projected to experience a swift expansion in the coming years, reaching $5.4 billion in 2029 with a compound annual growth rate (CAGR) of 10.7%. This upsurge in the forecast period can be linked to the rise in personalized medicine, heightened monitoring of infectious diseases, increasing autoimmune disorders, an uptick in point-of-care testing, and enhanced global health preparedness. The predicted period will also see key trends such as the prevalence of multiplexing assays, the application of automation and robotics, high-content imaging, sophisticated fluorophores, and the incorporation of digital pathology.

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What are the major factors driving growth in the immunofluorescence assay market?

The rise in chronic diseases is a significant factor propelling the expansion of the immunofluorescence assay market. Shifts in lifestyle, food habits, and inadequate weight control are leading to a swift increase in chronic conditions, and certain enduring chronic infections are contributing to an increased risk of cancer. The escalating incidences of chronic disease are likely to fuel the demand for immunofluorescence assays, considering their wide application in diagnosis and drug development pursuits. For example, research conducted by the Centers for Disease Control and Prevention suggests that nearly 6 in 10 adults in the USA are suffering from chronic disease, contributing to annual healthcare costs of $3.8 trillion. Hence, the growing prevalence of chronic diseases is predicted to enhance the demand for immunofluorescence assays within the forecast period.

What key areas define the segmentation of the global immunofluorescence assay Market?

The immunofluorescence assay market covered in this report is segmented –

1) By Type: Direct Immunofluorescence, Indirect Immunofluorescence

2) By Product: Reagents, Instruments, Antibodies, Kits, Consumables and Accessories

3) By Disease: Cancer, Infectious Disease, Cardiovascular Diseases, Autoimmune Diseases, Other Diseases

4) By End User: Academic And Research Institutions, Pharmaceutical And Biotechnology Companies, Contract Research Organizations, Hospitals And Diagnostic Centers

Subsegments:

1) By Direct Immunofluorescence: Single-Step Direct Assays, Multiplex Direct Assays

2) By Indirect Immunofluorescence: Single-Step Indirect Assays, Multiplex Indirect Assays

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What are the top market players propelling the growth of the immunofluorescence assay industry?

Major companies operating in the immunofluorescence assay market include Thermo Fisher Scientific Inc., Abcam plc, Bio-Rad Laboratories Inc., PerkinElmer Inc., Werfen Company, Merck KGaA, Danaher Corporation, Cell Signaling Technology Inc., Vector Laboratories Inc., INOVA Diagnostics Inc., Sino Biological Inc., Medipan GmbH, BioLegend Inc., Jackson ImmunoResearch Laboratories Inc., Rockland Immunochemicals Inc., Bethyl Laboratories Inc., Fitzgerald Industries International Inc., Creative Diagnostics, Boster Biological Technology, Acris Antibodies GmbH, RayBiotech Inc., Proteintech Group Inc., Novus Biologicals LLC, R&D Systems Inc., OriGene Technologies Inc., GenScript Biotech Corporation, MBL International Corporation, Abnova Corporation, Cellabs India Technologies Limited, J. Mitra & Co. Pvt. Ltd., EpiGentek Group Inc., Elabscience Biotechnology Co. Ltd., Aesku.Diagnostics GmbH

What are the key trends shaping the future of the immunofluorescence assay market?

The rise in technological progress is becoming an increasingly prominent trend in the immunofluorescence assay market. Firms in this industry are concentrating their efforts on creating technologically superior products in order to meet specific technical requirements for diagnosing new viruses such as COVID-19, and to bolster their standing in the market. For example, LumiraDx, a maker of point-of-care diagnostics based in the United Kingdom, was granted emergency approval in March 2022 for its LumiraDx SARS-CoV-2 Ag Test. This test is a microfluidic immunofluorescence assay developed to detect nucleocapsid protein antigen quantitatively from nasal swab specimens.

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What regions are dominating the immunofluorescence assay market growth?

North America was the largest region in the immunofluorescence assay market in 2024, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the immunofluorescence assay market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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