Serum Free Light Chain Assays Market Size [2022-2029] | Industry Trends, Share, Growth, SWOT Analysis, Market Drivers, Restraints, Opportunities, And Key Developments with Global Forecast

Pune, India, July 19, 2022 (GLOBE NEWSWIRE) -- The global serum free light chain assays (sFLC) market size is expected to grow substantially during the forecast period. Rising incidences of plasma cell disorders and multiple myeloma are expected to enhance the market growth. Fortune Business Insights™ mentions this information in its report titled "Serum Free Light Chain Asssays Market, 2021-2028."

Serum free light chain assays (sFLC) comprise a laboratory procedure used to identify blood groups of individuals. It consists of approximately 220 varieties of amino acids in a polypeptide chain that is used to form variable and constant regional fields. Serum-free light chain assays (sFLC) are extensively used to diagnose plasma cell disorders and multiple myeloma. Plasma cells result in tumors that can negatively affect bones, increase calcium present in the blood, and cause hypercalcemia. It can negatively affect the working of the organs inside a human body.

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Additionally, it is used to cure multiple myeloma (MM) disorders that are diagnosed by immunofixation testing procedures. Manufacturers are focusing on announcing new serum free light chain assays market to enhance treatment efficiency. For example, Sebia and FLC Kappa announced a new-generation serum free light chain assays in March 2018. It is fused with enzyme-linked immunosorbent assay technology and provides easier monitoring and diagnosis. Therefore, these factors can enhance the market growth. 

Industry Development

• August 2019: clonoSEQ Assay received FDA approval for its multiple myeloma diagnosis procedures. 

Drivers and Restraints

Rising Cases of Multiple Myeloma (MM) to Bolster Market Growth

Serum free light chain assays (sFLC) are used extensively to cure multiple myeloma disorders. The rising cases of multiple myeloma are expected to enhance the sales for serum free light chain assays (sFLC). As per the World Health Organization (WHO), the cases of multiple myeloma have resulted in approximately 0.8% of deaths worldwide. The amount of cases has surged to 4.4% per 100,000 globally. Higher efficiency of serum free light chain assays (sFLC) procedures can enhance its adoption rapidly. It aids in the treatment of light chain protein and improves operational convenience. It is a highly advanced procedure that can eliminate multiple myeloma (MM) disorders efficiently, which, in turn, can drive the serum free light chain assays (sFLC) market growth.

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Impact of COVID-19

Rising Demand for Advanced Treatment Procedures to Fuel Market Growth

This market is expected to grow positively during the COVID-19 pandemic due to the rising demand for advanced treatment procedures. The increasing incidences of COVID-19 infections foster the production of medical gear and instruments, which, in turn, can enhance the demand for serum free light chain assays (sFLC) treatment procedures. In addition, the adoption of online retail, part-time shifts, and reduced capacities is likely to fuel demand for sFLC. Therefore, these factors can positively influence market growth. 

Segments

By sample type, the market is segmented into urine, plasma, and serum. As per end-user, it is classified into pathology & clinical laboratories, hospitals, and others. Geographically, it is grouped into Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa. 

Highlights of the Report

• The report highlights the leading segments and the latest market trends.
• It comprehensively discusses the impact of COVID-19 and the driving and restraining factors.
• Examines the strategies deployed by the key players and the regional developments. 

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Regional Insights

Developed Healthcare Facilities to Foster Growth in North America and Europe

North America and Europe are expected to dominate the serum free light chain assays (sFLC) market share because of the presence of developed healthcare facilities. Additionally, rising awareness regarding the procedure and investments in research and development can propel market growth. 

In Asia Pacific, rising demand for simplistic diagnostics procedures increasing healthcare infrastructure in India & China can propel the demand for serum free light chain assays (sFLC). Therefore, this factor can enhance market growth.

Serum Free Light Chain Assays Market Segmentations:

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Competitive Landscape

Prominent Companies to Launch Novel Services to Enhance Market Position

The prominent companies operating in the market launch novel services to attract consumer demand and enhance their market position. For example, Ortho Clinical Diagnostics announced the New MicroTip Partnership Assay Program in August 2018. The companies announced Kappa Free Light Chain and Lambda Free Light Chain by partnering with Diazyme Laboratories Inc. This strategy can enhance the company's market position drastically. Additionally, the adoption of partnership strategies can enable companies to strengthen their resources and undertake profitable ventures. 

List of Key Players Profiled in the Serum Free Light Chain Assays (sFLC) Market Report

• Biomedical diagnostics
• SEBIA
• Abingdon Health
• Dr Lal PathLabs.
• EW SCIENTIFIC COMPANY SRL
• Calgary Laboratory Services
• QML Pathology

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