Research Nester released a report titled “Immunoaffinity Chromatography Market: Global Demand Analysis & Opportunity Outlook 2029″ which delivers detailed overview of the global immunoaffinity chromatography market in terms of market segmentation by product, application, end-user and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The market is segmented by product type into reagents & consumables, and instruments. Among these segments, the reagents and consumables segment is anticipated to capture the larger share of the market since they are readily available in the market and are useful for detecting antibodies/proteins. Besides, the widening application of the reagents and consumables in the immunoaffinity chromatography process is also projected to drive the growth of the market segment over the forecast period.
The immunoaffinity chromatography market is projected to grow with high CAGR during the forecast period, i.e., 2021-2029, on account of the increasing research and development activities. Over the past couple of years, there has been a rise in demand for immunoaffinity chromatography for cancer research and drug development, which is one of the key factors driving the market’s growth.
According to the World Health Organization, cancer is the second leading cause of death globally. Besides, as per WHO studies, cancer has risen steadily across the world, with lung & breast cancer being the most prevalent. In the year 2020, over 19.2 million cancer cases were reported, with lung, breast, and colorectal cancer accounting for an estimated 33% of the total number of cases. As the number of cancer cases increases, there is a high demand for advanced therapeutics for effective treatment, which is further projected to impact the market positively over the forecast period.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The immunoaffinity chromatography market in North America is expected to capture a higher share over the forecast period. This can be attributed to the region’s rapidly developing R&D sector. As notified by Research America, the medical and health research & development activities have increased by 6.4% between 2017 and 2018. In 2018, the medical R&D spending reached USD 194.2 billion.
Increasing Research & Development Activities to Drive Market Demand in the Future
Improved research infrastructure and increasing investment in R&D in the healthcare industry alongside the initiatives taken by the government are some of the essential factors contributing to market growth. Additionally, it has been observed that there are a higher number of end-users investing in improving their provisions for cancer care, which is further anticipated to create a surge in demand for immunoaffinity chromatography in cancer drug development.
According to the National Cancer Institute, breast cancer was the most common, followed by lung, prostate, and colorectal cancer. Further, it was estimated by the American Cancer Society that nearly 1.8 million cancer cases would be diagnosed in 2020, with approximately 606,520 cancer-related deaths.
This report also provides the existing competitive scenario of some of the key players of the global immunoaffinity chromatography market which includes company profiling of Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Merck KGaA, Becton, Dickinson and Company, Regis Technologies Inc., Phenomenex Inc., WATERS, Pall Corporation, and Agilent Technologies Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global immunoaffinity chromatography market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Henry Lucas is an experienced Industry researcher with more than 10 years of experience and he has a great interest and knowledge about the Business industry in research Strategy, Strategic Planning, new innovations and technology.