Market Trends of Label-free Array Systems Industry
This section covers the major market trends shaping the Label-Free Array Systems Market according to our research experts:
The Surface Plasmon Resonance Technology Segment is Expected to the Exhibit the Fastest Growth During the Forecast Period
Based on the technology, the segmentation includes cellular dielectric spectroscopy, bio-layer interferometry, surface plasmon resonance, and other technologies. Among these, surface plasmon resonance technology is likely to experience a significant growth in the global label-free array systems market. The main contributors can be increasing spending over R&D activities by pharmaceutical and biopharmaceutical companies. According to the report of European Federation of Pharmaceutical Companies, in 2017, the R&D expenditure for European pharmaceutical industry was accounted to be around USD 38,404. Hence, it is expected to influence the market positively.
North America Accounted for the Largest Share in the Global Market and is also the Fastest-growing Market
Region-wise, North America is expected to emerge as the leading region in the global label-free array systems market. The rise in chronic and life-threatening diseases is resulting in an increase in drug discovery programs in the United States. This is leading to the increasing demand for label-free array systems in the region. The companies are also introducing label-free cell-based systems for early drug discovery. Meanwhile, certain issues, including a limit of detection and probability of the device, and the sensitivity of the device, are being optimized by manufacturers to offer better label-free array systems.
