New York, March 04, 2024 (GLOBE NEWSWIRE) -- The global enzyme-linked immunosorbent assay market size is poised to grow at a CAGR of over 6% from 2024 to 2036. The market is anticipated to garner a revenue of USD 27 billion by the end of 2036, up from a revenue of USD 12 billion in the year 2023. The market growth is attributed to the increasing prevalence of chronic disorders across the world. Chronic diseases such as diabetes, cancer, autoimmune disorders, and other contagious diseases are raising the healthcare burden. Cardiovascular diseases kill 18 million people per year followed by 10 million deaths from cancers, 4 million deaths from chronic respiratory diseases, and 2 million deaths from diabetes and kidney diseases that occurred from diabetes as per the World Health Organization.
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Diagnosis and Monitoring of chronic diseases is done through enzyme-linked immunosorbent assay (ELISA). The demand for highly accurate and effective diagnostic tools such as ELISA is driving market growth. The occurrence of negative tests or false positive tests is not common as it is caused on account of no antibodies in the blood or by laboratory fault. Nevertheless, the accuracy rate of ELISA tests is 99.9% accurate when associated with the Western Blot test confirmation.
Enzyme-Linked Immunosorbent Assay Market: Key Takeaways
- Market in Asia Pacific region to propel the highest growth.
- The Indirect ELISA segment to garner the highest growth
- Market in North America region to grow at the highest rate
Rising Number of Diagnostics and Screening Programs Across the Globe are Fueling the Growth of the Enzyme-Linked Immunosorbent Assay Market
The need for effective diagnosis to detect diseases at an early stage to improve patient care is estimated to hike the market size. The demand for non-invasive methods of treatments is also envisaged to intensify the market growth in the coming years. The percentage of cosmetic surgeries through non-surgical procedures increased by 45% in 2021 and the other body procedures increased by 60% worldwide.
Enzyme-Linked Immunosorbent Assay Industry: Regional Overview
Increasing Awareness of Healthcare Access Via Government Initiatives is Shooting Up the Market Growth in Asia Pacific Region
The enzyme-linked immunosorbent assay market in the Asia Pacific region is prophesied to gain a significant market share of 40% in the coming years on account of increasing healthcare access with the initiation of government programs. The rising prevalence of numerous infectious diseases in rural and urban areas due to a lack of awareness of diagnostics is amplifying market trends. The scheme of Ayushman Bharath covers USD 6ooo for each family for treatment during secondary and tertiary hospitalization through a health insurance program in India.
Enhancing Healthcare Spending and the Spread of Chronic Diseases is Mounting the Market Expansion in the North American Region
The North American region from the enzyme-linked immunosorbent assay market is assessed to hold a noteworthy market share by the end of 2036. The driving force of the market is attributed to the rise in the incidence of chronic diseases, healthcare expenditure, and early diagnosis. Demand for cutting-edge diagnostic tools to minimize chronic disease burden on the healthcare sector of the region is fostering market growth. The health expenditure of the U.S. increased by 4% in 2022 gaining USD 14000 per person.
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Enzyme-Linked Immunosorbent Assay Market Segmentation by Type
- Indirect ELISA
- Sandwich ELISA
The indirect ELISA segment belonging to the enzyme-linked immunosorbent assay is expected to secure a market revenue share of 62% in the coming years owing to the soaring number of research activities in the healthcare sector. The partnerships of academic institutions, research organizations, and pharmaceutical and biotech firms to flourish innovations in biomarker research are augmenting the market segment size. The rising need for cancer biomarkers, development in customized medicine, high investment in the research of biomarkers, and increasing pharmaceutical research activities are proliferating the market segment trends. In 2024, Hoxton Ventures and Foresight Group funded a significant amount for Inoviv to expand the delivery of accurate, fully targeted biomarker workflows and panels.
Enzyme-Linked Immunosorbent Assay Industry Segmentation by End-User
- Hospitals
- Pharmaceutical
- Research and Academic Institutions
The market from the hospitals segment is outlined to garner the second-largest market share by the end of 2036. The market segment size is credited to the preference for personalized drugs that customize the treatment decisions based on patient characteristics. The hospitals are approaching this method of treatment therapy to improve compliance and satisfaction of the patients and to reduce side effects. The Australian government sanctioned a fund worth USD 121 million as support for an innovative multi-stakeholder public-private partnership model to develop sustainable precision oncology, and biomarker-dependent drug development via incorporation of clinical trials into the standard care.
A few of the well-known market leaders in the global enzyme-linked immunosorbent assay market that are profiled by Research Nester are Thermo Fisher Scientific Inc., PerkinElmer, Inc., Bio-Rad Laboratories, Inc., Merck KGaA, F. Hoffmann-La Roche Ltd., Siemens Healthineers AG, BD (Becton, Dickinson and Company), Agilent Technologies, Inc., BioMerieux SA, Ortho Clinical Diagnostics, and others.
Recent Development in the Market
- PerkinElmer purchased Serena Therapeutics, the leader in liquid biopsy technologies for early detection of cancer for USD 1.2 Billion. The ownership helps PerkinElmer to expand its diagnostic portfolio and to hold itself as a major key player in the liquid biopsy market.
- PerkinElmer launched the EnVista 10x microscope, with the combination of high-resolution optical microscopy and powerful correlative analysis features. Researchers benefit from the new tool as it helps to acquire clear insights into complex biological processes in different aspects.
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