Pune, July 17, 2019 (GLOBE NEWSWIRE) -- In terms of application, oncology and endocrinology segment held the largest share in the global Immunodiagnostics Market in 2017. Fortune Business Insights in its report, titled “Immunodiagnostics Market : Global Market Analysis, Insights and Forecast, 2018-2025” finds that the segment to held nearly 25.6% of the global market in 2017. According to the report, the global Immunodiagnostics Market was valued at US$ 15,777.5 Mn in 2017. Moreover, the global market is forecasted to exhibit 4.7% CAGR and reach US$ 22,732.7 Mn by the end of 2025. In terms of product type, the regents and consumable segment is expected to exhibit growth at a high pace during the forecast period 2018-2025.
Immunodiagnostic is a new method to conduct analysis, hence its application reach is less at present. However, increasing adoption of immunodiagnostic in the diagnosis of cancer, endocrine disease, and others is likely to propel the demand in the global Immunodiagnostics Market.
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Product launch and approval for new immunodiagnostic products and services is also expected to increase the growth rate in the global market. For instance, in 2017 the OPKO Health Inc., received approval from the U.S. Food and Drug Administration to conduct a full prostate-specific antigen text with immunoassay analyzer. Rising adoption of immunoassay analyzer will facilitate cost effectiveness and minimal steps diagnostic procedure. This is a chief driver of the market.
Rising Prevalence of Chronic Diseases to Drive the Global Market
The rising incidence of diseases such as HIV, respiratory, cancer, and others is likely to push the growth in the global Immunodiagnostics Market. Additionally, growing geriatric population and favorable reimbursement policies are expected to drive the global Immunodiagnostics Market during the forecast period 2018-2025.
North America emerged dominant in the global Immunodiagnostics Market in 2017. Rising investment towards research and development to find novel therapeutics and diagnosis methods for the treatment of aforementioned diseases is creating growth opportunities for the market in North America. Furthermore, government support towards these initiatives will augur well for the overall immunodiagnostics market. Asia Pacific also held a significant share in the global market. The Asia Pacific Immunodiagnostics Market was worth US$ 3939.1 Mn in 2017. The region is forecasted to progress at a higher CAGR. Moreover, high potential for increasing penetration of immunodiagnostics in Asia Pacific will enable growth in the regional market.
Increasing purchasing power, technological advancements, and growing demand for quality healthcare services are key factors boosting the global Immunodiagnostics Market. Moreover, changing patient diagnostic preference towards minimal procedure is also anticipated to fuel the demand in global market. On the downside, is lack of awareness about immunodiagnostics may restrain the market’s expansion in underdeveloped regions.
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Strong Supply Chain Network to Facilitate Market Players
Abbott, Roche Diagnostics, Danaher Corporation, and DiaSorin are among the leading players in the global Immunodiagnostics Market. Growth witnessed by these organizations is facilitated by the presence of robust supply chain network and their diverse product portfolio. Besides this, increasing investment in research and development activities and cost management by market players is helping organizations to gain higher share in the global market. Some of the other organizations operating in the global Immunodiagnostics Market are QIAGEN, bioMérieux, Quest Diagnostics, and Thermo Fisher Scientific.
Key companies covered in the report
- Abbott
- Hoffmann-La Roche AG (Roche Diagnostics)
- DiaSorin
- Danaher Corporation
- QIAGEN
- bioMérieux
- Thermo Fisher Scientific
- Quest Diagnostics
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Table of Content:
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Technological Advancements
- Key Industry Developments -Mergers, Acquisitions and Partnerships
- Reimbursement Scenario
- Key Performance Indicators for Global Immunodiagnostics Market
- Global Immunodiagnostics Market Analysis, Insights and Forecast, 2014-2025
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Instruments
- Reagents & Consumables
- Market Analysis, Insights and Forecast – By Application
- Oncology& Endocrinology
- Hepatitis & Retrovirus
- Cardiac Markers
- Infectious Diseases
- Others
- Market Analysis, Insights and Forecast – By End User
- Clinical Laboratories
- Hospitals
- Physician’s Offices
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Competitive Analysis
- Strategic Recommendations
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