Growing Number of Drug Discovery Programs Through Academic-Industrial Partnerships to Drive Global Label Free Detection Market

According to our new research study on "Label Detection Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, Technology, Application and End User," the market is expected to grow from US$ 474.82 million in 2021 to US$ 829.71 million by 2028; it is estimated to grow at a CAGR of 8.3% during 2021-2028. Factors driving the market's growth are the introduction of high-tech products, and growing number of drug discovery programs through academic-industrial partnerships are driving the market.

Direct partnerships between pharma/biotech companies and academic centers are becoming prevalent. For academic researchers and researchers in pharma, the benefits of these partnerships are evident. Financial support from pharma provides steady funding and increases their opportunity to do impactful work. These collaborations may begin as funding for academic research for promising candidates. The strategy helps pharmaceutical companies fill gaps in their portfolio at lower costs and risks. A few examples of innovative academic-industrial collaborations are-Takeda Pharmaceuticals with Kyoto University in Japan and Stanford University in the US and Sanofi with the University of California, San Francisco (the US). In 2020, Creoptix collaborated with Professor Adriano Aguzzi and the University of Zurich to analyze SARS-CoV-2 antibodies in COVID-19 patients using the Creoptix WAVE system. Therefore, the growing number of drug discovery programs through academic-industrial partnerships propels the growth of the label free detection market.

General Electric; Perkin Elmer, Inc.; AMETEK Inc.; F. HOFFMANN-LA ROCHE LTD; Spectris; METTLER TOLEDO; Agilent Technologies, Inc.; Waters Corporation; Sartorius AG; Corning Incorporated are among the leading companies operating in the label free detection market.

Based on type, the label free detection market is segmented into instruments and consumables. Based on technology, the label free detection market is segmented into surface plasmon resonance, bio-layer interferometry, isothermal titration calorimetry, differential scanning calorimetry, and other LFD technologies. Based on application, the label free detection market is segmented into binding kinetics, binding thermodynamics, endogenous receptor detection, hit confirmation, lead generation, and other applications. Based on end user, the label free detection market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, contract research organizations and other end users. By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).

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