by The 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 is a technique used in biomedical research and clinical diagnostics to detect and quantify the light emitted from chemical reactions. It provides highly sensitive, non-radioactive detection of biomolecules such as DNA, antibodies, antigens and other analytes. Chemiluminescence assays are widely adopted for diagnostic tests in clinical laboratories to detect cardiac markers like troponin, infectious diseases and other biochemical parameters.
Market Dynamics:
The chemiluminescence imaging market is driven by increasing applications of diagnostic testing in clinical pathology. According to World Health Organization, cardiovascular diseases account for over 17 million deaths annually, which has boosted the demand for cardiac marker testing using chemiluminescence immunoassays. Additionally, continual technological advancements such as high resolution CCD cameras, hybridization techniques and automated processors have improved the sensitivity and efficiency of chemiluminescence platforms. This has encouraged the adoption of chemiluminescence imaging system in drug discovery and life science research. However, high cost of instruments and reagents limits the market growth.
SWOT Analysis
Strength:
– Chemiluminescence offers high sensitivity and produces clear images. It can detect trace amounts of analytes within a short time frame of few minutes.
– The technology provides quantitative and qualitative results simultaneously making it preferable for analytical research purposes.
– With no laser usage, the process is cost-effective as compared to fluorescence.
Weakness:
– Chemiluminescence instruments require specialized reagents and substrate which increases overall assay cost.
– Emission of light is transient and intensity reduces rapidly limiting quantitative analysis over a prolonged time frame.
Opportunity:
– Rising applications of chemiluminescence in clinical diagnostics, food and water testing is creating demand for improved imaging devices.
– Ongoing research for development of novel substrates, reagents and detection techniques can help expand application scope.
Threats:
– Availability of superior alternative technologies like fluorescence and surface plasmon resonance poses competition.
– Stringent regulatory framework surrounding in vitro diagnostic devices increases compliance costs.
Key Takeaways
The Global Chemiluminescence Imaging Market Demand is expected to witness high growth, exhibiting CAGR of 4.3% over the forecast period, due to increasing demand for sensitive detection technologies in research and clinical diagnosis. The market size is projected to reach US$ 3391.7 Mn in 2022.
Regional analysis: North America dominates the global market currently owing to availability of state-of-art research facilities and presence of leading life science companies in the region. Asia Pacific is anticipated to be the fastest growing market attributed to rising healthcare expenditure, growing biomedical industry and increasing R&D investment in countries like China and India.
Key players operating in the chemiluminescence imaging market are Thermo Fisher Scientific, Bio-Rad Laboratories, GE Healthcare, Azure Biosystems, Berthold Technologies, Syngene, Analytik Jena AG, LI-COR Biosciences, Vilber Smart Imaging, PerkinElmer. Key players are focusing on new product launches, partnerships and acquisitions to strengthen their market position and expand their regional presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
