DUBLIN--(BUSINESS WIRE)--The "Global Immunoassay Market by Product (Reagents & Kits, Analyzers), Technology (ELISA, Rapid Test, Western Blotting, ELISPOT), Specimen (Blood, Saliva), Application (Infectious Diseases, Oncology), End-user (Hospitals & Clinics), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global immunoassay market is valued at an estimated USD 40.2 billion in 2022 and is projected to reach USD 49.6 billion by 2027, at a CAGR of 4.3%
Market growth is driven by factors such as the increasing incidence of chronic and infectious diseases, advancements in systems and technologies, growth in the biotechnology and biopharmaceutical industries, supportive government policies, increasing adoption of immunoassay-based POC testing and rapid testing, and increasing drug and alcohol abuse and stringent laws mandating drug and alcohol testing.
The reagents & kits to register the largest share of the immunoassay market, by product
The global immunoassay market is segmented into reagents & kits and analyzers based on product. Market growth is largely driven by the large consumption of reagents & kits for various procedures along with the rising volume of immunoassay-based tests performed worldwide.
Rapid Tests segment to grow at a considerable rate among technology during the forecast period
The immunoassay market is segmented into ELISA, rapid tests, ELISpot, western blotting, radio-immunoassays, and other technologies. Rapid tests are used to test donated blood for the detection of HIV, HCV, HBV, and HCG antibodies. Rapid tests are preferred as a preferred method in POC diagnosis, particularly in emergency and primary care settings.
The blood segment accounted to grow at the fastest rate, by specimen, in 2021
Based on specimens, the immunoassay market is segmented into blood, saliva, urine, and other specimens. In 2021, blood specimens is anticipated to witness growth at the highest rate owing to increasing incidence of chronic and infectious diseases and rise in the rate of blood donations.
Infectious diseases segment to register the highest growth rate among applications during the forecast period
The global immunoassay market is segmented into infectious diseases, endocrinology, oncology, bone & mineral disorders, cardiology, blood screening, autoimmune disorders, allergy diagnostics, toxicology, newborn screening, and other applications. The application segment of infectious diseases is anticipated to grow that the highest CAGR during the forecast period, owing to the rise in the number of products being launched for its diagnosis.
Among the end-users, the hospitals & clinics segment anticipated to grow at a significant rate during the forecast period
The rise in the prevalence of chronic and infectious diseases has led to significant growth of the hospitals & clinics end-user segment. The segment is also consider to register highest growth rate during the forecast period.
The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period
The global immunoassay market is segmented into five regions - North America, Europe, the Asia-Pacific, Middle East & Africa, and Latin America. The Asia-Pacific region is expected to witness the highest growth in the immunoassay market during the forecast period. The high growth in this region can primarily be attributed to the increasing geriatric population, and high disease burden of chronic disorders along with developing healthcare infrastructure in Asian countries such as India and China.
Competitive landscape
The prominent players in this market are Danaher Corporation (US), Siemens Healthineers AG (Germany), Abbott Laboratories (US), and F. Hoffmann-La Roche AG (Switzerland).
Premium Insights
- Rising Disease Incidence and Technological Advancements - Key Drivers of Market Growth
- Reagents & Kits Accounted for Largest Share of North American Market in 2021
- China & India to Witness Highest Growth Rates During Forecast Period
- APAC to Witness Highest Growth During Forecast Period
- Developing Markets to Register Higher Growth During Forecast Period
Market Dynamics
Drivers
- Increasing Incidence of Chronic and Infectious Diseases and Growing Awareness About Early Disease Diagnosis
- Increasing Use of Immunoassays in Oncology
- Immunoassays for COVID-19 and Other Viral Diagnostics
- Immunoassays in Drug Detection and Other Diagnostic Applications
- Growing Geriatric Population
- Advancements in Systems and Technologies
- Growth in Biotechnology and Biopharmaceutical Industries
- Increasing Adoption of Immunoassay-based POC Testing and Rapid Testing
- Supportive Government Policies
- Increasing Drug and Alcohol Abuse and Stringent Laws Mandating Drug and Alcohol Testing
Restraints
- Stringent Requirements for Approval of Immunoassay Instruments and Consumables
- Technical Hurdles of Immunoassay Kits
Opportunities
- Growth Opportunities in Emerging Economies
- Importance of Companion Diagnostics
- Development of Condition-Specific Biomarkers and Tests
- Integration of Microfluidics in Immunoassays
- Improving Immunoassay Diagnostic Technologies
Challenges
- Design Challenges, Complexities, and Quality of Antibodies
- Dearth of Skilled Professionals
- Unfavorable Reimbursement Scenario
- Financial Hurdles Faced by Physicians
Company Profiles
Major Players
- Abbott Laboratories
- Roche Diagnostics
- Siemens Healthineers AG
- Danaher Corporation
- Thermo Fisher Scientific Inc.
- Perkinelmer, Inc.
- Becton, Dickinson and Company
- Diasorin S.P.A.
- Bio-Rad Laboratories, Inc.
- Quidel Corporation
- Ortho Clinical Diagnostics Holdings PLC
- BioMerieux
- Qiagen
- Sysmex Corporation
- Agilent Technologies
- Mindray Medical International Company
Other Players
- Merck KGaA
- Meridian Bioscience
- Bio-Techne
- Cellabs
- Abnova Corporation
- J. Mitra & Co.
- Tosoh Corporation (Tosoh Biosciences)
- Cell Sciences
- Enzo Biochem
- Creative Diagnostics
- Boster Biological Technology
- Elabscience
- Wak-Chemie Medical
- Sera Care
- Epitope Diagnostics
- Kamiya Biomedical Company
- Gyros Protein Technologies
- Trivitron Healthcare
- Inbios International, Inc.
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