Dublin, June 24, 2024 (GLOBE NEWSWIRE) -- The "Global Enzyme-Linked Immunosorbent Assay (ELISA) Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Enzyme-Linked Immunosorbent Assay (ELISA) market is projected to grow at a CAGR of 5.56% increasing from US$2.138 billion in 2022 to US$3.123 billion in 2029.
The common diagnostic applications of ELISA are HIV infection, pregnancy tests, detection of proteins, etc. The ELISA market is expected to show robust growth during the forecast period. The growth may be attributed to the rising incidence of infectious and chronic diseases, which require ELISA as a cost-effective diagnostic tool. However, stringent regulatory requirements, as well as unfavorable reimbursement policies about ELISA, might hamper the market growth during the given time frame.
The rising prevalence of infectious diseases is predicted to propel the market growth.
One of the key drivers fuelling the market's expansion is the rising prevalence of infectious diseases like HIV, Hepatitis, malaria, dengue, and influenza, among other ailments. At the end of 2021, the WHO estimated that there were 38.4 million HIV-positive individuals worldwide, with more than two-thirds of them living in Africa. The WHO also claimed that dengue fever was among the top ten health threats facing the world. Over the past 50 years, dengue incidences have increased by about 3000% worldwide. WHO also estimated that more than 296 million individuals worldwide have hepatitis B infection as of 2019.
The demand for diagnosis is anticipated to rise as a result of the rising occurrence of infectious diseases. The market is anticipated to expand due to the rising use of cutting-edge diagnostic techniques for screening these disorders, such as enzyme-linked immunosorbent tests.
Additionally, the growing geriatric population, which is globally at risk of contracting illnesses and chronic diseases and requires routine diagnosis, is anticipated to fuel market expansion. In comparison to younger individuals, potentially dangerous illnesses are more likely in elderly patients, according to the NCBI (National Center for Biotechnology Information), which published this information in 2021. Thus, it is anticipated that these factors will considerably raise the market's growth by boosting demand for enzyme-linked immunosorbent assays.
The disease diagnosis segment is anticipated to surge the market growth.
Due to the growing use of enzyme-linked immunosorbent assay tests for the diagnosis of specific antigens, a sizable share of the disease diagnosis market has been predicted. In 2022, the WHO estimated that non-communicable illnesses caused around 41 million deaths each year, equivalent to 71% of all deaths worldwide. Due to these occurrences, there is now a greater need for efficient diagnostic techniques like ELISA for prompt detection to minimize death occurrences.
Additionally, according to the Global Cancer Observatory, there were approximately 19.3 million new cases of cancer and nearly 10.0 million cancer deaths worldwide in 2020. As ELISA is a useful instrument for assessing antigens, the rise in cancer incidence around the world is driving up demand for it.
The Enzyme-Linked Immunosorbent Assay can be used to find both breast cancer antigens and prostate cancer antigens, according to a 2020 Nature Scientific study. Such accurate antigen screening and cost-effective diagnosis are anticipated to boost ELISA demand and drive the market's expansion during the analyzed period.
North America is Expected to Hold a Significant Share in the Market
Because of the rapid development of technological breakthroughs in screening instruments like ELISA, the US is likely to dominate the global market. The increasing incidences of multiple infectious and chronic diseases in this demography are contributing to the strong demand for Enzyme-Linked Immunosorbent Assay. For instance, the CDC (Centre for Ailment Control and Prevention) reported in 2022 that over 60% of Americans had at least one chronic disease, such as cancer, cardiovascular disease, or stroke.
The market in this region is anticipated to grow as a result of rising R&D expenditures as well as numerous funding initiatives for diagnostics. Listed firms on the biotechnology index expanded their R&D spending by about 16% on average in 2020 to USD 284.25 million in the US, based on the Binder Dijker Otte USA Reports from 2020.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $2.14 Billion |
| Forecasted Market Value (USD) by 2029 | $3.12 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Competitive Environment And Analysis
- Major Players And Strategy Analysis
- Market Share Analysis
- Mergers, Acquisitions, Agreements, And Collaborations
- Competitive Dashboard
Company Profiles
- Pestka Biomedical Laboratories, Inc.
- Diaclone SAS
- Thermo Fisher Scientific Inc.
- Azure Biosystems Inc.
- R&D Systems, Inc
- RayBiotech, Inc.
- Elabscience
- BioLegend, Inc.
- Randox Toxicology
- STEMCELL Technologies Inc.
- Genway Biotech, Inc.
Segmentation:
By Type
- Indirect ELISA
- Sandwich ELISA
- Competitive ELISA
By Application
- Food and Beverage
- Vaccine Development
- Immunology
- Diagnosis
- Drug Monitoring
- Others
By End Users
- Pharmaceutical Industries
- Hospitals and Clinics
- Diagnostic Centres
- Others
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Others
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Taiwan
- Others
For more information about this report visit https://www.researchandmarkets.com/r/l0b33j
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