The global immunofluorescence assay market is projected to reach USD 2.01 billion by 2023 from USD 1.51 billion in 2018, at a CAGR of 5.8%. The increasing prevalence of chronic diseases, increasing R&D spending and increasing healthcare spending are the major factors driving the growth of the immunofluorescence assay market. High growth opportunities in emerging markets provide opportunities for players to enter the immunofluorescence assay market.

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Players in the global immunofluorescence assay market, such as Thermo Fisher (US), Inova Diagnostics (US), Bio-Rad (US), Abcam (UK), PerkinELmer (US), Merck Millipore (US), Cell Signaling Technology (US), MEDIPAN GMBH (Germany), Sino Biological (China), Danaher (US), and Vector Laboratories (US) are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies of product launches, expansions, partnerships, agreements, and acquisitions.

Thermo Fisher (US) held the leading position in the global immunofluorescence assay market in 2017. The company provides antibodies, reagents, and kits used in immunofluorescence assays through its Life Science Solutions segment. It has operations in more than 180 countries across North America, Europe, Asia, the Middle East, Africa, and Latin America. The company focused on both organic as well as inorganic growth strategies to maintain its leading position in the global immunofluorescence assay market. For instance, in 2016, the company launched Evos FL Auto 2 Imaging System. In the same year, the company also signed an agreement with EUROIMMUN (Germany). Through this agreement, it would be offering indirect immunofluorescence (IFA) test kits that can differentiate between Zika, dengue, and chikungunya viruses manufactured by EUROIMMUN AG in the US market.

Inova Diagnostics is among the leading players in the global immunofluorescence assay market. The company manufactures in-vitro diagnostics (IVD) systems and reagents for clinical laboratories and hospitals. It offers its immunofluorescence assay products under the brand name NOVA. The company strengthened its market place by adopting product launches as its growth strategy. For instance, in 2017, the company launched QUANTA-Lyser 3000. In the same year, the company again launched two NOVA Lite reagents. This strategy helped the company to enhance its product portfolio in the immunofluorescence assay market.