The global Chemiluminescence Imaging Market is estimated to be valued at US$ 3391.7 Mn or Mn in 2022 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Chemiluminescence imaging is a technique used to detect substances of biological interest that have been labeled with a chemiluminescent compound. Chemiluminescence produces light through a chemical reaction rather than an external energy source like heat or electricity. This makes it a highly sensitive method of detection. Chemiluminescence imaging systems are used in various applications like nucleic acid gel documentation, western blotting, DNA sequencing, and immunoassays as they provide high resolution images with minimum noise and background. Adoption of chemiluminescence imaging systems is growing in the biomedical research and pharmaceutical industry due to advantages like their simplicity, high sensitivity, stability, and low cost compared to other techniques.
Market key trends:
Technological advancements are a key trend shaping the chemiluminescence imaging market. Vendors are focused on developing digital chemiluminescence imaging systems with improved resolution, sensitivity, and quantitative analysis capabilities. For instance, manufacturers offer high-resolution CCD or CMOS cameras coupled with advanced image acquisition and analysis software. This enables quantitative analysis from chemiluminescence images. Another trend is the integration of chemiluminescence detectors into microfluidic lab-on-a-chip platforms. This miniaturizes the analysis process and reduces sample and reagent volumes required. Such innovations are increasing the applications of chemiluminescence imaging and driving market growth.
Threat of new entrants: The chemiluminescence imaging market requires high R&D investments and stringent regulations pose barriers for new companies.
Bargaining power of buyers: Buyers have high bargaining power due to the presence of substitute options.
Bargaining power of suppliers: A few prominent players dominate the supply market, giving them significant bargaining power over buyers.
Threat of new substitutes: Alternatives like fluorescence imaging are emerging but do not replicate all features of chemiluminescence imaging.
Competitive rivalry: Intense competition exists among existing players to gain higher market share through product differentiation and innovation.
The Global Chemiluminescence Imaging Market Demand is expected to witness high growth, exhibiting CAGR of 4.3% over the forecast period, due to increasing applications in biomedical research and diagnostics.
North America dominated the market in 2022 and is expected remain the major revenue generating region during the forecast period. This is attributed to strong presence of key players, rising biomedical R&D expenditure, and increasing prevalence of lifestyle diseases.
Asia Pacific is anticipated to be the fastest growing market for chemiluminescence imaging between 2023-2030 due to improving healthcare infrastructure, rising medical tourism, and growing investments by key players.
Key players operating in the chemiluminescence imaging include Thermo Fisher Scientific, Bio-Rad Laboratories, LI-COR Biosciences, Azure Biosystems, and Syngene. These players are focusing on new product launches and geographic expansion to strengthen their market position.