Dublin, Feb. 29, 2024 (GLOBE NEWSWIRE) -- The "Immunoassay Market by Product (Reagents & Kits, Analyzers), Technology (ELISA, CLIA, Rapid Tests), Specimen (Blood, Saliva, Urine), Application (Infectious Diseases, Endocrinology), End User (Hospitals & Clinics, Blood Banks) & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global immunoassay market is valued at an estimated USD 35.0 billion in 2023 and is projected to reach USD 46.7 billion by 2028, at a CAGR of 5.9% during the forecast period.
Market growth is driven by factors such as the rising prevalence of chronic and infectious diseases, innovations in the systems and technologies, supportive government policies and initiatives, 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 repetitive use of reagents & kits for various diagnostic procedures coupled with the increase in the volume of immunoassay-based tests conducted worldwide. Moreover, the availability of better reagents & kits that offer efficient results and precision in diagnosis attributes to their growing requirement resulting in the growth of the segment.
Chemiluminescence Immunoassay segment to grow at a considerable rate among technology during the forecast period
The immunoassay market is segmented into ELISA, Chemiluminescence Immunoassay (CLIA), Immunofluorescence assay (IFA), rapid tests, ELISpot, western blotting, and other technologies. CLIA tests help efficiently diagnose various chronic and infectious diseases compared to other techniques such as ELISA and radioimmunoassays, owing to benefits such as sensitivity, wide dynamic range, better speed, reduced interference, and high specificity.
Infectious diseases segment accounted for the largest share in the immunoassay market, by application
The global immunoassay market is segmented into infectious diseases, cardiology, endocrinology, oncology, bone & mineral disorders, autoimmune disorders, blood screening, allergy diagnostics, drug monitoring and testing, newborn screening, and other applications. The application segment of infectious diseases accounted for a considerable share in 2022, primarily due to the rapid diagnosis of infectious diseases coupled with the increasing incidence of diseases such as HIV/AIDS, malaria, hepatitis, and influenza, among others.
Asia Pacific: The fastest-growing region in the immunoassay market
The global immunoassay market is segmented into five regions - North America, Europe, the Asia Pacific, the Middle East & Africa, and Latin America. The Asia Pacific region is expected to grow at the highest rate during the forecast period in the immunoassay market. The high growth in the region is due to the presence of a large target population, and rising prevalence of chronic disorders in Asian countries.
Research Coverage
This research report categorizes the immunoassay market by product (reagents & kits and analyzers), specimen type (blood, urine, saliva, and other specimens), technology (enzyme-linked immunosorbent assays, rapid tests, chemiluminescence immunoassay, immunofluorescence assay, enzyme-linked immunospot, western blotting, and other technologies), application (infectious diseases, blood screening, oncology, endocrinology, bone and mineral disorders, autoimmune disorders, cardiology, drug monitoring and testing, allergy diagnostics, newborn screening, and other applications), end user (clinical laboratories, hospitals and clinics, research & academic laboratories, blood banks, pharmaceutical and biotechnology companies & CROs, and home care settings), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the immunoassay market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products offered, key strategies, acquisitions, and partnerships. New product launches and approvals, and recent developments associated with the immunoassay market. This report covers the competitive analysis of upcoming startups in the immunoassay market ecosystem.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 382 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $35 Billion |
| Forecasted Market Value (USD) by 2028 | $46.7 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
Premium Insights
- Rising Incidence of Chronic Diseases and Technological Advancements to Drive Market
- Reagents & Kits and US Dominated North American Market in 2022
- China to Witness Highest Growth Rates During Forecast Period
- Asia-Pacific to Witness Highest CAGR During Study Period
- Emerging Economies to Register Higher Growth During Forecast Period
Market Dynamics
- Drivers
- Increasing Incidence of Chronic and Infectious Diseases
- Growing Use of Immunoassays in Oncology
- Increasing Use of Immunoassays in Diagnostic Applications
- Growing Geriatric Population
- Increasing Need for Blood Donations
- Growth in Biotechnology & Biopharmaceutical Industries
- Increasing Adoption of Immunoassay-based POC Testing and Rapid Testing
- Supportive Government Regulatory Policies and Initiatives
- Increased Drug Abuse and Use of Cannabis
- Increasing Incidence of Chronic and Infectious Diseases
- Restraints
- Stringent Approval Criteria for Immunoassay Instruments and Consumables
- Technical Problems in Immunoassay Kits
- Opportunities
- Increasing Growth Opportunities in Emerging Economies
- Importance of Companion Diagnostics
- Development of Condition-Specific Biomarkers and Tests
- Integration of Microfluidics in Immunoassays
- Improved Immunoassay Diagnostic Technologies
- Challenges
- Design Challenges, Complexities, and Low Quality of Antibodies
- Dearth of Skilled Professionals
- Unfavorable Reimbursement Scenario
Companies Profiled
- Abbott Laboratories
- Abnova Corporation
- Agilent Technologies, Inc.
- Becton, Dickinson and Company
- Bio-Rad Laboratories, Inc.
- Bio-Techne
- BioMerieux
- Boster Biological Technology
- Cell Sciences
- Cellabs
- Creative Diagnostics
- Danaher Corporation
- Diasorin S.p.A.
- Elabscience
- Enzo Biochem
- Epitope Diagnostics
- F. Hoffmann-La Roche Ltd.
- Gyros Protein Technologies
- Inbios International, Inc.
- J. Mitra & Co. Pvt. Ltd.
- Kamiya Biomedical Company
- Maccura Biotechnology Co. Ltd.
- Merck KGaA
- Meridian Bioscience
- Qiagen N.V.
- Quidelortho Corporation
- Revvity
- Seracare Lifesciences Inc.
- Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
- Siemens Healthineers AG
- Sysmex Corporation
- Thermo Fisher Scientific Inc.
- Tosoh Corporation (Tosoh Bioscience)
- Trivitron Healthcare
- Wak-Chemie Medical
For more information about this report visit https://www.researchandmarkets.com/r/a8bok2
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