According to a research report titled ‘ Global Label-Free Detection Market Size, by Product (Solar Label-free Detections, Instruments and consumables), by Technology (Surface plasmon resonance, Bio- layer interferometry, Isothermal titration calorimetry and different scanning calorimetry), by Application (Binding Kinetics, Binding Thermodynamics, Endogenous Receptor Detection, Hit Confirmation, and Lead generation), End-use Industries (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Contract Research Organizations, Other End Users) and Regional Forecasts 2020-2027’ available with Market Report Study LLC, global label-free detection market was valued at USD 400.19 million in 2019 and is anticipated to grow at a rate of 7.7% during the forecast period, amassing USD 724.42 million by 2027.
 

Research findings state that increased number of drug discovery programs via research partnerships between academic institutions and pharmaceutical companies are anticipated to boost global label-free detection market growth.
 

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Rapid progress of global drug and biotechnology ventures, rising drug redistribution, and accelerated investments in research and development by biopharma companies are adding considerable traction to business progression. Moreover, developing life science research exercises in emerging business sectors are also projected to stimulate market expansion during 2020-2027.
 

For the unversed, label-free detection systems are integrated systems used for assessment of biomolecular interactions without reducing the label or auto-fluorescent impacts. They offer quick paced and real time methodology for discovery of new medications. These frameworks are also utilized for recognition of biochemical and cell-based assays.
 

Despite the positive outlook of global label-free detection market, expensive nature of the instruments combined with concerns regarding sensitivity and throughput are projected to slow down business progression in the ensuing years.
 

By technology type, the market is arrayed into differential scanning calorimetry, bio-layer interferometry, isothermal titration calorimetry, and surface plasmon resonance. Of these, surface plasmon resonance was shown to be significantly more effective as compared to other technologies. In fact, market specialists from ETH Zurich claimed that localized surface plasmon resonance (LSPR) showed significant affectability and precision while dealing with the recognition of COVID-19 RNA, indicating a higher demand for the technology in the upcoming years.
 

Considering the regional outlook, North America accounted for a significant portion of global label-free detection industry share. Increased research activities in drug discovery and development, ready availability of funds, growth in R&D spending by pharma companies, and presence of substantial number of suppliers are contributing to the regional market expansion.
 

Meanwhile, Asia Pacific is projected to register a robust CAGR during the forecast period due to the increase in number of collaborations, mergers, and partnerships among major industry players.
 

Key contenders in global label-free detection market sphere are Danaher Corporation, General Electric Company, F. Hoffmann-La Roche Ltd., The Merck Group, Bio-Rad Laboratories, Inc., PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Illumina, Inc., Corning, Inc., and Agilent Technologies Inc.