The Latin America Label Free Detection Market published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape.
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According to the report “Latin America Label Free Detection Market By Technology (Bio-layer Interferometry, Cellular Dielectric Spectroscopy, Optical Waveguide Grating Technology, Surface Plasmon Resonance), By Product Type (Consumables Such As Biosensor Chips And Microplates, Instruments), By Application (Binding Kinetics, Binding Thermodynamics, Endogenous Receptor Detection, Hit Confirmation, Lead Generation), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, the Latin America Label Free Detection Market was worth USD 150 million in 2016 and estimated to be growing at a CAGR of 12.34%, to reach USD 210 million by 2021.
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Label Free Detection is a very well accepted drug discovery tool at present in the biotechnological as well as pharmaceutical industries. It works on the principle of biomolecular interactions without fluorescent or radioactive markers.
The progress made by the label free detection market can be seen not only through the sales figures that speak for themselves, but they have also ushered in a new era of drug development.
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The major feature of label free technology is that the properties of the molecule under study remain almost untouched by adulterants as opposed to the labels used in labelled detection technologies. When using label free technology there is also a better understanding of time kinetics, binding affinity, and other physio-chemical properties of the molecule under study.
The data gathered from Label Free Detection technologies is albeit a bit complex but provides a better reflection of the target biology. Unlike traditional assay tools, these detecting techniques do not require spatial interference.
All these benefits associated with these techniques are boosting the growth of the label free detection techniques market.
The recent rise of the Latin America Label Free Detection Market is mainly driven by factors such as a growing awareness about its advantages over labelled detection technologies, technological advancements, increase in demand for better medical facilities and favourable government schemes. Since the region is still developing, there is a growing demand for improved efficiency in the medical procedures.
This is another major driver for the market in the region. As for the constraints of using label free technologies, the excessive cost of the data analysis as well as the difficulty of analysis for the untrained operator proves to be a challenge especially in this region.
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The Latin America Label Free Detection Market is broadly classified into Consumables (Biosensor Chips and Microplates) and Instruments based on product type. Furthermore, based on application they are classified into Binding Kinetics, Binding Thermodynamics, Endogenous Receptor Detection, Hit Confirmation and Lead Generation.
Based on technology used, they are classified into Bio-layer Interferometry (BLI), Cellular Dielectric Spectroscopy, Optical Waveguide Grating Technology (OWG) and Surface Plasmon Resonance (SPR). Based on geography, the Latin America market is classified into Mexico, Brazil, Argentina and rest of South American countries.
The market is not a major contributor to the global figures with second lowest market share but maintains a healthy CAGR of 12% which is above the global average.
Some of the major companies dominating the market, by their products and services include Ametek, Inc., Bio-Rad Laboratories, Inc., BiOptix, Corning, Inc., Danaher Corporation, General Electric Corporation, Pall Corporation, PerkinElmer, all operating from the U.S. The region has no major indigenous companies in the field.
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