Dublin, April 13, 2023 (GLOBE NEWSWIRE) -- The "Immunodiagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, By Clinical Indication, By End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
The immunodiagnostic market is expected to grow from US$ 17,948.62 million in 2021 to US$ 29,526.72 million by 2028; it is estimated to grow at a CAGR of 7.4% from 2022 to 2028.
The increasing prevalence of infectious diseases and the growing use of point-of-care immunodiagnostics are the factors fueling the global immunodiagnostic market growth. However, factors such as inadequate treatment reimbursement scenarios are restraining the market growth.
Immunodiagnostics is a diagnostic methodology that primarily uses antigen-antibody reaction as its primary means of detection. Antibodies, specific for the desired antigen, can be conjugated with a radiolabel, fluorescent label, or color-forming enzyme and are used as a probe to detect it. The speed, accuracy, and simplicity of such tests have led to the development of rapid techniques for the diagnosis of diseases, microbes
Point-of-care testing (POCT) has become critical to patient-centric healthcare due to the need for rapid diagnostic results to determine accurate and faster treatment. A shift from centralized point-of-care testing to decentralized testing for chronic and infectious patients has resulted in convenient patient access to these diagnostics. The current approach to diagnosis and monitoring chronic conditions or detecting pathogens such as bacteria and viruses rely on immunoassay testing.
Advanced point-of-care devices enable rapid screening of up to three components from a single sample. Also, the point-of-care diagnostics (POCD) inclined toward mobile healthcare (mH) smart devices could revolutionize personalized healthcare monitoring and management, paving the way for next-generation POCTs. The infectious disease management can be significantly improved by POCTs, especially in developing countries where access to timely medical care is challenging and healthcare infrastructure is outdated and sparse. Additionally, the technologically developed diagnostic kits leading to fewer manual errors propel the immunodiagnostics market.
Innovative immunodiagnostic products are being developed by several market players. For instance, Thermo Fisher Scientific has developed immunodiagnostic products such as enzyme-linked immunoassay (ELISA) reagents and buffers, antibodies and detection probes, linking mechanisms, blocking buffers and detergents, detection substrates, and capture surfaces, along with services such as bioconjugation and detection. Further, on September 1, 2020, Roche launched SARS-CoV-2 Rapid Antigen Test. The Test is used in POC settings for symptomatic and asymptomatic people to help healthcare professionals identify the infection within 15 minutes.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 271 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $17948.62 Million |
| Forecasted Market Value (USD) by 2028 | $29526.72 Million |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increasing Prevalence of Infectious Diseases
- Growing Use of Point-of-Care Immunodiagnostics
Restraints
- Inadequate Reimbursement Scenario
Opportunities
- Rising Focus on R&D Investment and Expansion by Key Players
Future Trends
- Technological Advancements in Immunodiagnostics
Companies Mentioned
- Abbott Laboratories
- F. Hoffmann-La Roche Ltd
- DiaSorin SpA
- Danaher Corp
- Thermo Fisher Scientific Inc
- PerkinElmer Inc
- Shenzhen Mindray Bio-Medical Electronics Co Ltd
- bioMerieux SA
- Svar Life Science AB
- Siemens Healthineers AG
For more information about this report visit https://www.researchandmarkets.com/r/9uh51u
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