According to FutureWise analysis, the market for Immunoprecipitation is projected to expand at a CAGR of 5.3% from 2023-2031.
The immunoprecipitation market is witnessing significant growth due to a rise in research activities undertaken in the medical and life sciences industry. The research is usually sponsored and receives federal support which is also regarded as a substantial factor adding to the market’s growth during the forecast period. In order to identify antigens associated with autoimmune diseases, the market plays a key role and thus is profoundly demanded. The factors for early diagnosis of antigens, accuracy and speed are driving market growth.
Based on type, the market is segmented into individual immunoprecipitation, co-immunoprecipitation, chromatin immunoprecipitation and RNA immunoprecipitation. Individual immunoprecipitation is projected to be the fastest-growing sector during the forecasted time frame and register a healthy CAGR. The wide application spectrum offered by individual immunoprecipitation is a principal factor aiding its growth and highly precise diagnosis capability also aid in the expansion of the immunoprecipitation market size.By product type, the market is segmented into kits, reagents and accessories. The kits segment is expected to grow at a healthy CAGR due to their employment in various processes. Heavy demand due to universal operability encourages the growth of this segment.
Based on the region, The Asia Pacific is predicted to grow at the highest CAGR during the forecast period. Federal support and increasing investments by governments and industries, growing biotechnology research in these regions, and rising awareness about personalized therapeutics are expected to drive the growth of these markets during the forecast period. North America is predicted to garner major market share due to the presence of global players and developed medical practices.