Global Immunofluorescence Assay Market Size

Immunofluorescence Assay Market Analysis

The Immunofluorescence Assay market studied was projected to grow with a CAGR of 5.8% over the forecast period.

The studied market was impacted by the pandemic. The SARS-CoV-2 outbreak emerged as a potential opportunity for the market's growth. Several research organizations and biopharmaceutical companies are evaluating immunofluorescence assay to develop it as an effective diagnostic tool. The article 'A Novel Immunofluorescence Assay for the rapid serological detection of SARS-CoV-2 infection' published in April 2021, mentions the design of a cell-based fluorescent serology assay to detect SARS-CoV-2 infection. The assay is based on the capture of IgG antibodies in the serum of COVID-19-positive patients using cells exogenously expressing SARS-COV-2 spike and their subsequent fluorescent detection. Such novel immunofluorescent assays implemented to detect COVID-19 infections are expected to impact the growth of the market studied. Also, the article titled 'Rapid Lateral flow immunoassay for the fluorescence detection of SARS-CoV-2 RNA' published in December 2020 mentioned that amplification-free nucleic acid immunoassay, implemented on a lateral flow strip for the fluorescence detection of SARS-CoV-2, achieved sensitivities of 100% and specificities of 99% for both types of throat and sputum samples of COVID-19. The article titled 'Evaluating the serological status of COVID-19 patients using an indirect immunofluorescent assay, France' published in May 2020 mentioned that the immunofluorescence assay is useful for monitoring SARS-CoV-2 exposure at the individual and population levels. The effectiveness of these assays for detecting COVID-19 infection is expected to impact the growth of the market studied. Thus, the market was adversely impacted during the initial phase of the pandemic however, its advantages to diagnose COVID are expected to increase its growth during the upcoming period.

The major factor attributing to the growth of the market is the increase in the incidence of disease. Cancer is a major chronic disease in regions such as the Americas, Asia, and Europe. As further research and development activities are being conducted in the area with huge funding from the government, the market studied is expected to grow significantly over time. For instance, as per the Joint Research Commission's report of European Commission released in July 2020, it was estimated that in 2020 about 2.7 million (excluding non-melanoma cancer) new cancer cases would be diagnosed in the European Union, and breast cancer will be the most prevalent form of cancer with about 355,000 new cases in 2020. These conditions of chronic kidney disorders increase the demand for immunofluorescence assay. The American Cancer Society's estimates for primary liver cancer and intrahepatic bile duct cancer in the United States for 2020 include about 42,810 new cases (30,170 in men and 12,640 in women) diagnosed. According to the study published in Clinical Infectious Diseases, titled 'Re-emergence of Invasive Pneumococcal Disease (IPD) in Germany during the Spring and Summer of 2021' in February 2022, in April 2021, IPD levels in children aged 0 to 4 years old began to rebound to baseline levels. By June 2021, they had surpassed them (a 9 percent increase over the average monthly values for 2015-2019). IPD cases increased beyond baseline values in children 5 to 14, adults 15-34, and people 80 years and older beginning in July 2021, with increases, also beginning in Spring 2021. Such prevalence of infectious diseases is expected to drive the growth of the market studied.

Similarly, initiatives by market players are another factor in market growth. In September 2022, in order to enable subcellular spatial multi-omics measurement with the simultaneous detection of RNA and proteins during a typical MERFISH experiment, Vizgen introduced the MERSCOPE Protein Co-detection Kit. With its oligo conjugated antibodies, the MERSCOPE Protein Stain Reagent Kit enhances the detection of primary antibodies that are directed at proteins and provides high-quality protein staining that is comparable to protein immunofluorescence staining. Thus, the abovementioned factors are expected to increase the market growth.

However, the gaining popularity of the alternative procedures is the major drawback of the market growth