Chicago, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Immunoassay market in terms of revenue was estimated to be worth $35.0 billion in 2023 and is poised to reach $46.7 billion by 2028, growing at a CAGR of 5.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The immunoassay market is driven by a rise in the geriatric population and the subsequent increase in the prevalence of chronic medical conditions and increasing adoption of immunoassay-based POC testing and rapid testing.
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Immunoassay Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $35.0 Billion |
| Estimated Value by 2028 | $46.7 Billion |
| Growth Rate | Poised to grow at a CAGR of 5.9% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Technology, Specimen, Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Growth opportunities in emerging economies |
| Key Market Driver | Growth in the biotechnology and biopharmaceutical industries |
According to the World Population Ageing 2019 report by the UN Department of Economic and Social Affairs, the global geriatric population in 2019 was estimated at 703 million; this is expected to reach 1.5 billion in 2050. Some countries are expected to show a more rapid increase in the proportion of the geriatric population—in Japan, 30% of the population is above 60 years of age. China, Chile, Russia, and Iran all have similar proportions. According to the 2020 National Commission of India on the Indian Population report, it was estimated that in India, there will be over 138 million individuals aged 60 years and above in 2021.
Based on products, the immunoassay market is segmented into reagents & kits and analyzers. Reagents & kits accounted for the largest share of the market in 2022. The large share of this product segment can primarily be attributed to repeat purchases and consumption of reagents & kits for diagnostic procedures as compared to the immunoassay analyzers, which have a longer shelf time and can be used for multiple procedures.
The immunoassay market is segmented based on technology into ELISA, CLIA, IFA, rapid tests, ELISpot, western blotting, and other technologies. ELISA accounted for the largest share of the immunoassay market in 2022. The rising preference for the use of ELISA tests for the diagnosis of conditions such as cancer, and infectious diseases is driving the growth of the segment.
Based on specimens, the immunoassay market is segmented into blood, saliva, urine, and other specimens. In 2022, blood specimens accounted for the largest share of the immunoassay market. This segment is also projected to register the highest CAGR during the forecast period, owing to the rise in the number of blood donations and the need for appropriate screening of blood prior to transfusion.
Based on applications, the immunoassay market is segmented into cardiology, infectious diseases, endocrinology, blood screening, oncology, bone & mineral disorders, autoimmune disorders, allergy diagnostics, drug monitoring and testing, newborn screening, and other applications. In 2022, the infectious diseases application segment accounted for the largest share of the immunoassay market. The large share of this segment is due to the increasing incidence of infectious diseases.
Based on end user, the immunoassay market is segmented into hospitals & clinics, clinical laboratories, pharmaceutical & biotechnology companies and CROs, blood banks, research & academic laboratories, and home care settings. Hospitals & clinics accounted for largest share of the immunoassay market in 2022. The significant share of the segment is primarily due to the fact that most diagnostic tests are performed in hospitals or hospital-attached laboratories.
The immunoassay market is segmented into five major regions: North America, Europe, the Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, owing to the demand for better healthcare services, and rising prevalence of chronic and infectious diseases.
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Immunoassay market major players covered in the report, such as:
- Abbott Laboratories (US)
- F. Hoffmann-La Roche (Switzerland)
- Siemens Healthineers (Germany)
- Thermo Fisher Scientific (US)
- Danaher Corporation (US)
- PerkinElmer (US)
- Becton, Dickinson and Company (US)
- DiaSorin S.p.A. (Italy)
- Bio- Rad Laboratories (US)
- QuidelOrtho Corporation (US)
- bioMérieux (France)
- QIAGEN (Netherlands)
- Sysmex Corporation (Japan)
- Agilent Technologies (US)
- Mindray Medical International Company (China)
- Merck KGaA (Germany)
- Meridian Bioscience (US)
- Bio-Techne (US)
- Cellabs (Australia)
- Abnova Corporation (Taiwan)
- J. Mitra & Co. Pvt. Ltd. (India)
- Tosoh Corporation (Japan)
- Cell Sciences (US)
- Enzo Biochem (US)
- Creative Diagnostics (US)
- Boster Biological Technology (US)
- Elabscience (US)
- WAK-Chemie Medical (Germany)
- Sera Care (US)
- Epitope Diagnostics (US)
- Kamiya Biomedical Company (US)
- Gyros Protein Technologies (Sweden)
- Trivitron Healthcare (India)
- InBios International (US)
- and Among Others
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This report categorizes the immunoassay market into the following segments and subsegments:
By Product
- Reagents & Kits
- ELISA Reagents & Kits
- CLIA Reagents & Kits
- IFA Reagents & Kits
- Rapid Test Reagent & Kits
- ELISpot Reagent & Kits
- Western Blot Reagent & Kits
- Other Reagents & Kits
- Analyzers
By Type
- Open-ended Systems
- Closed-ended Systems
By Purchase Mode
- Rental Purchase
- Outright Purchase
By Technology
- ELISA
- Chemiluminescence Immunoassay (CLIA)
- Immunofluorescence assay (IFA)
- Rapid Tests
- ELISpot
- Western Blotting
- Other Technologies
By Specimen
- Blood
- Saliva
- Urine
- Other Specimens
By Application
- Infectious Diseases
- Endocrinology
- Oncology
- Bone & Mineral Disorders
- Cardiology
- Blood Screening
- Autoimmune Disorders
- Allergy Diagnostics
- Toxicology
- Newborn Screening
- Other Applications
By End User
- Hospitals & Clinics
- Clinical Laboratories
- Pharmaceutical & Biotechnology Companies and CROs
- Blood Banks
- Research & Academic Laboratories
- Home Care Settings
By Region
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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Immunoassay Industry Recent Developments:
- In August 2023, Abbott received FDA approval for its Alinity h-series hematology system, enabling laboratories nationwide to run complete blood counts (CBC).
- In July 2023, Siemens received FDA clearance and launched its Atellica CI Analyzer for immunoassay and clinical chemistry in the world’s major markets.
- In June 2023, DiaSorin launched its CE marked LIAISON B·R·A·H·M·S MR-proADM assay to be used for the diagnosis of conditions, such as kidney diseases, sepsis, septic shock, lower respiratory and urinary tract infections.
- In December 2022, QuidelOrtho received approval from Health Canada for use of the Quidel TriageTrue High-Sensitivity Troponin I (hsTnl) Test to aid in the diagnosis of myocardial infarction.
- In October 2022, Roche received U.S. FDA granted Emergency Use Authorization (EUA) for its cobas MPXV for use on the cobas 6800/8800 immunoassay Systems.
Key Stakeholders:
- Senior Management
- End User
- Finance/Procurement Department
- R&D Department
Report Objectives:
- To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To define, describe, segment, and forecast the immunoassays market by product, technology, specimen, application, and end user, and region
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall immunoassay market
- To forecast the size of the immunoassays market in five main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific Middle East & Africa, and Latin America.
- To profile key players in the immunoassays market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments, such as product launches and approvals; expansions; and partnerships; of the leading players in the immunoassays market
- To benchmark players within the immunoassays market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy
Related Reports:
Point of Care Diagnostics Market
Immunofluorescence Assay Market
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