Immunoprecipitation Market to Register a Healthy 5.0% CAGR between 2018 and 2024
According to the new market research report "Immunoprecipitation Market by Product (Kit, Reagent (Antibodies, Magnetic Buffer)), Type (Individual IP, CoImmunoprecipitation, CHIP), End User (Academics, Research Institutes, Pharmaceutical and Biotechnology Companies) - Global Forecast to 2024", published by MarketsandMarkets™, the market for Immunoprecipitation is expected to grow from USD 560 million in 2018 to USD 750 million by 2024, at a CAGR of 5.0% during the forecast period.
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The increasing number of research activities in the life sciences industry and the growing need to identify antigens associated with autoimmune diseases (through antigen-antibody interaction to understand disease mechanisms and develop relevant drugs targeting these diseases) are driving market growth.
Agarose beads accounted for the largest share of the market, by beads type
Based on bead type, the Immunoprecipitation Market is segmented into agarose and magnetic beads. Agarose beads dominated the Immunoprecipitation Market in 2018. The market for magnetic beads is expected to grow at the highest rate in the forecast period. When IP is performed using superparamagnetic beads, there is no need for centrifugation or time-consuming pre-clearing processes. These advantages of magnetic beads over agarose beads are driving their demand among end users.
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Individual IP is expected to account for the largest market share during the forecast period.
On the basis of type, the Immunoprecipitation Market is segmented into individual IP, co-IP, ChIP, and RIP. The increasing use of IP in studying protein-protein interaction, to detect the presence of an antigen, and to determine the relative quantity of an antigen are driving the use of individual IP in various research studies.
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North America is expected to account for the largest market share during the forecast period.
Based on region, the Immunoprecipitation Market is broadly divided into North America, Europe, the Asia Pacific, and the RoW. In 2018, North America accounted for the largest share of the Immunoprecipitation Market. The large share of this region can be attributed to growing research in the fields of genomics and proteomics, a large number of academic and research institutes, and the strong presence of global players in this region.
The prominent players in the global Immunoprecipitation Market are Thermo Fisher Scientific (US), Abcam (UK), and Merck KGaA (Germany)