The global luciferase assay market is expected to be valued at USD 1,536.70 million in 2024. The market’s progress is projected to be invigorating favorably from 2024 to 2034, with a CAGR of 7.00%. By 2034, the market value is forecasted to hit USD 3,022.90 million.
The market is primarily growing because of the versatility of luciferase assays. The assay can be used to measure a wide range of biological processes, including gene expression, protein-protein interactions, and enzymatic activity. This makes it an essential tool for researchers across a variety of fields, from molecular biology to ecology. The flexibility of the luciferase assay has also led to its adoption in high-throughput screening applications, where it can be used to quickly and efficiently screen large numbers of compounds for their effects on biological processes.
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Increasing demand for drug discovery and development is also driving the market expansion. The luciferase assay is a valuable tool for identifying and characterizing potential drug targets, as well as for screening compounds for their effects on these targets. The assay is also used in preclinical studies to assess the safety and efficacy of potential drug candidates. As the demand for new drugs and therapies continues to grow, so too does the demand for tools like the luciferase assay that can aid in the drug discovery and development process.
The luciferase assay is also becoming increasingly important in the field of genetic engineering. The assay can be used to measure gene expression, which is essential for understanding the function of genes and for developing new genetic engineering techniques. The assay can also be used to monitor the activity of gene editing tools like CRISPR/Cas9, which are revolutionizing the field of genetic engineering. As the demand for genetic engineering continues to grow, so too does the demand for tools like the luciferase assay that can aid in this process.
“Environmental monitoring is another area where the luciferase assay is seeing increased demand. The assay can be used to measure the activity of microorganisms in environmental samples, which is important for understanding the health and function of ecosystems. The assay is also used to detect contaminants in environmental samples, such as heavy metals or pesticides,” – Says an analyst at FMI.
Key Takeaways from the Luciferase Assay Market:
- The luciferase assay market is estimated to register a CAGR of 7.00%, reaching a valuation of USD 3,022.90 million by 2034.
- The luciferase assays segment is anticipated to dominate the market by product type, holding a 35.00% market share in 2024.
- The market in India is predicted to grow at a CAGR of 7.60% from 2024 to 2034.
- The market in Australia is estimated to grow at a CAGR of 5.30% during the forecast period.
- The market in Germany is estimated to grow at a CAGR of 2.50% over the forecast period.
- The market in China is predicted to grow at a 6.00% CAGR between 2024 and 2034.
- The market in the United States is expected to grow at a CAGR of 3.20% over the projected period.
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Competitive Landscape:
The luciferase assay market is highly competitive, with numerous players involved in the development and production of luciferase assay kits and reagents. As a result, companies are constantly innovating and launching new products to stay ahead of the competition. The market is characterized by intense rivalry among players, aggressive pricing strategies, and constant efforts to improve product quality and performance.
Recent Development:
In 2018, Thermo Fisher Scientific, a top manufacturer of scientific research products and services, announced its acquisition ofBD’ss Advanced Bioprocessing business. This strategic acquisition is aimed at expanding ThermoFisher’s product portfolio of cell-culture media and strengthening its technical services program. The move reflects ThermoFisher’ss unwavering commitment to providing innovative solutions for the life sciences industry and its ongoing efforts to enhance the quality and efficiency of bioprocessing.
Key Companies Profiled:
- Promega Corporation
- PerkinElmer Inc.
- Thermo Fisher Scientific Inc.
- Abcam plc
- Geno Technology Inc.
- BioTek Instruments, Inc.
- Becton, Dickinson and Company
- Merck KGaA
- Cell Signaling Technology, Inc.
- Danaher Corporation.
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Key Segments:
By Product Type:
- Beta-galactosidase assays
- Luciferase assays
- Fluorescent protein-related assays
- Chloramphenicol acetyltransferase assays
By Application:
- Gene expression
- Post-translational modification
- Protein-protein interaction
- Metabolic activity
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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