Wilmington, Delaware, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Immunoassay Market by Product (Reagents and Kits and Analyzers), Technology (ELISA, Chemiluminescence Immunoassay, Immunofluorescence assay, Rapid Test, ELISpot, Western Blotting and Others), Specimen (Infectious Diseases, Endocrinology, Oncology, Bone and Mineral Disorders, Cardiology, Blood Screening, Autoimmune Disorders, Allergy Diagnostics, Toxicology, Newborn Screening and Others), and End user (Hospitals and Clinics, Clinical Laboratories, Pharmaceutical and Biotechnology Companies, Blood Banks, Research and Academic Laboratories and Home Care Settings) : Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the immunoassay market was valued at $35.0 billion in 2023, and is estimated to reach $61.6 billion by 2033, growing at a CAGR of 5.8% from 2024 to 2033.
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Prime determinants of growth
Rise in incidences of chronic diseases, favorable regulatory scenario, and increase in geriatric population are the major factors that drive the growth of the immunoassay market growth. However, high development and manufacturing costs hinder market growth. Moreover, technological advancements and untapped markets in developing economies offer remunerative opportunities for the expansion of the global immunoassay market.
Recent Industry Development
- In April 2021, Roche Diagnostics received CE mark certification for its Elecsys anti-p53 immunoassay, a test used to diagnose various types of cancer. The Elecsys test is used for the in vitro quantitative determination of anti-p53 antibodies in patients to aid physicians in diagnosis of esophageal cancer, bowel cancer and breast cancer.
- In December 2023, Sysmex Corporation, announced that following their introduction in Japan and the United States, its reagents used for blood testing to identify Amyloid Beta (Aβ) accumulation in the brain—will be expanded to Europe starting January 2024. Sysmex will continue to promote activities towards expanding its testing parameters, including the assay kits, and accelerating the deployment of immunochemistry testing business in Europe.
- In November 2022, LumiraDx Limited, a next-generation point of care diagnostics company, announced the continued commercial expansion of its HbA1c test, for professional use across multiple care settings. The actively controlled microfluidic immunoassay is run on the highly portable LumiraDx Platform and designed for near-patient testing with connected results in under seven minutes.
- In September 2022, Getein Biotech Inc., a manufacturer of medical rapid test products, announced the launch of MAGICL 6000 CLIA analyzer at MEDICA 2022. MAGICL 6000 is a compact and innovative chemiluminescence immunoassay CLIA analyzer, with optimal choice for mid to high-workflow laboratories that require a one-step CLIA solution.
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Segment Highlights
The enzyme-Linked Immunosorbent Assay (ELISA) segment to maintain its leadership status during the forecast period
By technology, the enzyme-Linked Immunosorbent Assay (ELISA) segment generated the highest revenue in the immunoassay market in 2023. The high sensitivity, specificity, and versatility of Enzyme-Linked Immunosorbent Assay (ELISA) , making it suitable for various applications. ELISA is valuable in medical diagnostics, research, and drug development due to its high sensitivity, specificity, and scalability. It plays a crucial role in diagnosing diseases, monitoring biomarkers, and evaluating immune responses, contributing to advancements in healthcare and biomedical research.
The blood specimen segment to maintain its leadership status during the forecast period
By specimen, the blood specimens segment generated the highest revenue in the immunoassay market in 2023. Blood specimens are widely used in immunoassays due to their accessibility, abundance of biomarkers, and ability to provide valuable insights into various diseases and conditions. Blood-based immunoassays enable the detection and quantification of specific analytes, such as proteins, antibodies, and hormones, facilitating disease diagnosis, prognosis, and monitoring.
The hospitals and clinics segment to maintain its leadership status during the forecast period
By end user, hospitals and clinics widely utilize immunoassay technology due to its versatility, accuracy, and rapid results. Immunoassays enable healthcare providers to perform a wide range of diagnostic tests, including disease screening, monitoring, and prognosis, enhancing patient care and treatment decision-making within clinical settings.
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Regional Outlook
In North America there is a robust market for immunoassay due to advanced healthcare systems, rise in prevalence of chronic disease conditions, and greater accessibility to healthcare services. These regions also witness significant research and development activities, leading to the advancement in immunoassay technology. In emerging markets such as Asia-Pacific and LAMEA the immunoassay market is experiencing rapid growth driven by increasing healthcare expenditure and expanding pharmaceutical industries.
Key Players
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Abbott Laboratories
- Siemens Healthineers (Siemens AG)
- DiaSorin S.p.A.
- Sysmex Corporation
- BioMerieux SA
- Ortho Clinical Diagnostics
- Thermo Fisher Scientific, Inc.,
- Becton, Dickinson and Company
- Merck kGaA
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The report provides a detailed analysis of these key players in the global immunoassay market. These players have adopted different strategies such as expansion, product approval, product launch and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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