The
Global Chemiluminescence Imaging Market is estimated to be valued at US$ 3391.7
Mn in 2022 and is expected to exhibit a CAGR of 4.3% over the forecast period
2023-2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Chemiluminescence imaging techniques utilize light-emitting chemical reactions
to visualize specific biomolecules and generate images with high sensitivity.
This technology finds various applications in molecular biology research,
clinical diagnostics, and forensic investigations by offering sensitive
detection of multiple analytes.
Market Dynamics:
The growth of the global chemiluminescence imaging market is attributed to
increasing research activities in the field of molecular biology and genomics.
According to the Coalition for Health Funding report 2018, the U.S. National
Institutes of Health invested around US$ 37.3 billion towards research projects
in 2017, indicating rising R&D investments that demand enhanced
visualization solutions.
Furthermore,
product launches with improved features by industry players also supports the
market growth. For instance, in 2022, Thermo Fisher Scientific launched Alexa
Fluor DyLight reagents for chemiluminescent Western blot detection that
provides 10x higher reagent sensitivity and signal-to-noise ratio compared to
conventional HRP substrates.
Market
key trends:
One of the key trends in the chemiluminescence imaging market is the increasing
adoption of chemiluminescence imaging in pharmaceutical and biotechnology
companies for drug discovery and development activities. Chemiluminescence
imaging has emerged as a valuable technique for protein and nucleic acid
detection during various stages of drug R&D such as target identification,
lead optimization, preclinical and clinical development. Its high sensitivity
and ability to detect multiple targets simultaneously makes it an attractive
option compared to conventional fluorescence methods.
SWOT Analysis
Strength: Chemiluminescence offers high sensitivity detection and allows
quantitative measurement over a wide range. It does not require an external
light source for excitation process making the detection cost-effective.
Weakness: Chemiluminescence imaging has relatively low resolution and spatial
information compared to fluorescence imaging. The signal lasts for a short
duration requiring faster imaging.
Opportunity: Growing proteomics and next generation sequencing applications
open up new areas for adoption of chemiluminescence imaging systems. Increasing
R&D investments of pharmaceutical companies also present an opportunity.
Threats: Availability of superior fluorescence imaging technologies acting as
alternatives can hamper the growth. Stringent regulations associated with
product approval process increases time to market.
Key Takeaways:
The Global
Chemiluminescence Imaging Market Demand was valued at USD 3391.7
Million in 2022. The market is expected to witness high growth, exhibiting a CAGR of 4.3% over the forecast period,
due to increasing research activities in the area of drug discovery.
Regional analysis: North America dominated the global chemiluminescence imaging
market in 2022 and is expected to maintain its lead over the forecast period.
This can be attributed to presence of major market players and availability of
extensive research infrastructure and funding for life science research in the
region. Asia Pacific is anticipated to exhibit the fastest growth rate during
the analysis period owing to rising investments by regional governments to
support development of bioscience industries.
Key players: Thermo Fisher Scientific, Bio-Rad Laboratories, Merck KGaA,
General Electric, Azure Biosystems.
Key players operating in the chemiluminescence imaging market are Thermo Fisher
Scientific, Bio-Rad Laboratories, Merck KGaA, General Electric, Azure
Biosystems. These players are focusing on new product launches and investments
for business expansion to strengthen their market position.
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