New York, Global Immunoassay Market was valued at USD 28.0 billion in 2021 and it is anticipated to grow further up to USD 46.3 billion by 2031, at a CAGR of 5.2% during the forecast period.
The global immunoassay market report from Global Insight Services is the single authoritative source of intelligence on Immunoassay Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A test known as an immunoassay uses an antibody or immunoglobulin to measure the concentration of a macromolecule in a solution. The analyte is the term for the discovered large molecule. For medical and scientific purposes, immunoassay is used to measure the number of analytes in serum and urine. To guarantee the correctness of the results acquired, it is also utilized in qualitative, quantitative, and radioactivity procedures. Immunoassays with high specificity and sensitivity are utilized to speed up the reactions.
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Market Trends and Drivers
The rise in chronic and infectious disorders, especially the COVID-19 outbreak, is responsible for the market expansion. Growth will also be aided by the increase in the elderly population, who are more susceptible to infections and chronic diseases. The widespread use of immunoassay techniques in illness diagnostics is a result of a rise in the incidence of chronic ailments such cancer, infections, cardiovascular diseases, autoimmune diseases, diabetes mellitus, and nephrological diseases. The prevalence of cancer is gradually rising, which is anticipated to increase need for efficient diagnostic tools like immunoassay. This method is important for determining oncogenesis and diagnosing cancer in all of its forms, including benign and malignant cancer.
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Global Immunoassay Market Segmental Overview
The report analyses the global immunoassay market based on technology, product & services, application, end user, and region.
Global Immunoassay Market by Technology
Based on the technology, it is segmented into ELISA, Fluorescence, Colorimetric, Chemiluminescence, Rapid Test, Western Blot, ELISPOT, and PCR. The ELISA segment is likely to dominate the market during the forecast period. The key factors such as the requirement of relatively lesser antisera to carry out the analysis reduced assay time and quantitative results.
Global Immunoassay Market by Product & Services
Based on the products & services, it is segmented into reagents & kits, analyzers, and software services. The reagents & kits segment is anticipated to dominate the market during the forecast period. The key factor such as high demand for effective diagnostic purposes is boosting the growth of the market.
Global Immunoassay Market by Application
Based on the application, it is segmented into infectious diseases, endocrinology, cardiology, oncology, and hematology. The infectious testing segment is anticipated to dominate the market during the forecast period. The large share of the market can be attributed to a rising number of cases of Malaria, Dengue, HIV, and novel Coronavirus cases across the globe.
Global Immunoassay Market by End User
Based on the end user, it is segmented into hospitals, clinical laboratories, blood banks, academic research centers, pharmaceutical companies, biotechnology companies, and others. The hospital segment is anticipated to dominate the market during the forecast period. The high share can be owing to a rising number of hospitals and clinics, developing healthcare infrastructure, a rise in the number of chronic diseases, and the ongoing incremental demand for testing kits for the detection of COVID-19.
Geographical Analysis of the Global Immunoassay Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North America region is anticipated to dominate the market during the forecast period. Due to the region’s high prevalence of chronic diseases, particularly a rise in the incidence of cancer, its established healthcare infrastructure, adoption of cutting-edge technologies, and the presence of major international firms, North America currently has a dominant position in the market.
Major Players in the Global Immunoassay Market
The key players studied in the global immunoassay market are Roche Diagnostics Limited, Siemens Healthcare, Abbott Laboratories, Beckman Coulter, Ortho Clinical Diagnostics, BioMrieux, Bio-Rad Laboratories Inc., Sysmex Corporation, and Becton, Dickinson & Company among others.
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