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The global immunofluorescence assay market is dominated by the North American region, owing to increasing research activities, favourable government funding opportunities, presence of major key players in the region, and laboratory automation. Rising prevalence of chronic diseases, cancer incidences and various infectious diseases are attributed to drive the market growth. The rising spending on research and development and healthcare expenditure is also fuelling the market demand. Investment on research and developments results in technological advancement. Government is also taking initiatives to encourage the use of immunofluorescence assay. Various governmental and non-governmental organisations are investing in research, leading to upsurging demand. The improved versions of kits and reagents increases its demand. Factors like growing popularity of drainable ostomy bags, supportive healthcare policies, high number of patients, and a developed healthcare market are expected to fuel the market growth. It is anticipated that emerging markets like India, China, and Brazil will provide lucrative opportunities for players operating in the immunofluorescence assays market in the forecasted period. This can primarily be attributed to the diversified healthcare markets in these countries. Rising prevalence of indirect immunofluorescence is also contributing to the market growth as it gives high sensitivity, easy to change signal color based on changing the second antibody. The COVID-19 pandemic has also positively impacted the growth of immunofluorescence assay due to increase in the demand for immunofluorescence assay products globally as they are used widely for the detection of viral antigens, including coronavirus. However, quality concerns over antibodies, lower signal, high costs of kits, shortage of skilled labour are the major challenges in this market.
The rising competition among the key players is also providing an impetus to the market growth. In March 2021, Thermo Fisher Scientific Inc. (NYSE: TMO) collaborated with Artificial to develop an integrated and comprehensive software automation platform for Thermo Fisher's standardised COVID-19 Testing Platform. The integration will result in increased testing throughout and support global healthcare initiatives. This collaboration enables biopharma and contract services companies to both simplify their lab technicians' interactions with automated systems and more efficiently coordinate the use of their multiple Momentum automated systems, increasing productivity, and minimising user intervention to meet industry needs.
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The major players in the global immunofluorescence assay industry are Thermo Fisher Scientific Inc., Cell Signaling Technology, Inc., Bio-Rad Laboratories, Inc., Sino Biological Inc., and PerkinElmer Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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