LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global enzyme-linked immunosorbent assay (ELISA) testing market to post a CAGR of over 4% during the forecast period. The increasing cases of cancer are emerging as a key trend that will impact the market.
The prevalence of cancer has increased due to various reasons such as unhealthy diet, lack of physical activity, tobacco use, and excessive alcohol consumption. With increasing incidence cases, there is a parallel rise in cancer diagnosis and treatment. Cancer biomarkers are present in tumor tissues or serum and incorporate a wide variety of molecules. ELISA testing helps in the identification of cancer biomarkers which can be used for prognosis and treatment protocols.
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In this report, Technavio analysts highlight the growing need for frequent diagnostic testing among aging population as a key factor contributing to the growth of the global ELISA testing market:
Growing need for frequent diagnostic testing among aging population
There has been a global increase in aging population owing to numerous factors such as increasing life expectancy and better healthcare facilities. As per World Bank, in 2016, the elderly population comprising of people aged 65 years and above represented close to 9% of the global population. Furthermore, there is a growing prevalence of both communicable as well as non-communicable diseases in this segment of the population, with cardiovascular disease, lung disease, cancer, and stroke being the leading causes of death.
According to a senior analyst at Technavio for life science research tools research, “There is now a global burden of disease which needs to be prevented, diagnosed, and treated. ELISA testing techniques allow quick and efficient screening of multiple human serum samples for various antigens associated with different cancers. They can thus help doctors to diagnose the disease, measure its progression and plan treatment protocols.”
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Global ELISA testing market - segmentation and analysis
This market research report segments the global ELISA testing market based on based on end-user (hospitals and diagnostic centers, research laboratories, and others) and key regions (the Americas, APAC, and EMEA).
In 2017, the hospitals and diagnostic centers segment held a market share of close to 42% owing to rise in infectious and chronic diseases followed by research laboratories and other segments .
The Americas held 42% share of the market owing to advances in the adoption of diagnostic equipment in the region. The Americas was followed by EMEA owing to the shift toward preventive and personalized healthcare along with the easy availability of efficient diagnostics procedures. EMEA was followed by APAC held the smallest share of the market, however, it is expected to exhibit the maximum growth during the forecast period owing to increasing awareness of ELISA testing in the region.
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