Chemiluminescence assays find wide application in various research areas such as oncology research, infectious disease research and reproductive health among others. Moreover, clinical diagnostics of conditions like cancer, liver disorders also rely on chemiluminescence technique for detection of biomarkers. Growing incidence of chronic diseases is propelling the demand for clinical diagnostic testing, thus favoring the growth of chemiluminescence imaging market.
The global Chemiluminescence Imaging Market is estimated to be valued at US$ 13.2 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising demand from biomedical research and clinical diagnostics is a major trend fueling the growth of chemiluminescence imaging market. Due to increasing incidence of chronic diseases, there is significant focus on development of novel drugs and identification of disease biomarkers. Chemiluminescence technique is commonly employed in various studies related to oncology, genomics and proteomics research due to its high sensitivity. Moreover, growing volume of clinical diagnostic tests performed for screening and evaluation of diseases is propelling the adoption of chemiluminescence imaging systems by diagnostic laboratories and hospitals. As per estimates, over 7 billion clinical diagnostic tests are performed annually worldwide. Rise in disease prevalence in developing nations is expected to further augment the demand.
Segment Analysis
The Global chemiluminescence imaging market Size is dominated by instruments as it accounts for the largest revenue share of more than 60%. Chemiluminescence imager instruments are extensively used for biomedical research and diagnostic applications such as protein assays, nucleic acid detection, enzyme-linked immunosorbent assays (ELISA), western blotting, and Southern, northern and slot blotting. Instruments provide high sensitivity, wide linear dynamic range, high resolution and ability to visualize multiple signals simultaneously which makes it a preferred choice for various chemiluminescence detection applications.
Key Takeaways
The global chemiluminescence imaging market is expected to witness high growth over the forecast period owing to factors such as rising R&D expenditures in pharma and biotech industries, increasing government support for clinical and pre-clinical research, and growing demand for highly sensitive diagnostic and research tools. The global chemiluminescence imaging market is estimated to be valued at US$ 13.2 billion in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030.
Regional analysis:
North America dominates the global chemiluminescence imaging market and is expected to maintain its dominance during the forecast period. High adoption of advanced imaging systems in research and clinical settings as well as presence of major players drives the growth of the market in this region. Asia Pacific is projected to witness highest growth rate over the forecast period attributed to factors such as growing research funding, increasing healthcare expenditure, rising incidences of chronic diseases and improving healthcare infrastructure in emerging economies of the region.
Key players related content: Key players operating in the chemiluminescence imaging market are Azure Biosystems, Inc.,Berthold Technologies GmbH & Co. KG,Carestream Health, Inc.,GE Healthcare,LI-COR Biosciences,PerkinElmer, Inc.,Syngene International Limited,Tecan Trading AG,Thermo Fisher Scientific Inc.,UVItec Limited. These companies are focusing on new product launches, expansions, agreements and partnerships to strengthen their presence in the global market. For instance, in 2021, Azure Biosystems introduced the NioFlux CL instrument for high performance chemiluminescence imaging.
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