|Status : Published||Published On : Jul, 2019||Report Code : VRHC1048||Industry : Healthcare||Available Format :||Page : 168|
The global immunoassay market is expected to grow at a CAGR of 5.6% during the forecast period with its market size predicted to reach USD 26.9 billion by 2024. The global immunoassay market is growing at a significant rate, due to mounting occurrence of chronic and infectious diseases and technological improvement in the instruments. Different product and services contributed to the immunoassay market size. The market has witnessed a high demand for kits and reagents over the last few years due to the mounting number of immunoassay tests and mounting occurrence of chronic and infectious diseases.
Insight by Product and Services
On the basis of product and services, the market is subdivided into analyzers, reagents & kits and software & services. Of all product and services, reagents & kits segment accounted the largest share in the market due to the necessity of the replicate purchase of kits and reagents, mounting number of immunoassay tests and mounting occurrence of chronic and infectious diseases. The reagents and kits market is further subdivided into Elisa reagents & kits, western blot reagents & kits, rapid test reagents & kits, Elispot reagents & kits and others.
Insight by Platform
On the basis of platform, the market is subdivided into chemiluminescence immunoassays (CLIAs), fluorescence immunoassays (FIAs), colorimetric immunoassays (CIs), radioimmunoassays (RIAs) and others. Low price and elevated compassion of CLIA-based tests are some of the factors responsible for the growth of the chemiluminescence immunoassays segment. Of all the platforms, the chemiluminescence immunoassays accounted foremost share in the immunoassay market.
Insight by Technology
On the basis of technology the market is subdivided into Enzyme-Linked Immunosorbent Assays (ELISA), enzyme-linked immunospot, immuno-PCR, rapid tests, western blotting, and others. Mounting usage of immunoassay tests in therapeutic drug level monitoring and infectious disease are the factors growing the demand of Enzyme-Linked Immunosorbent Assays. Among all technologies, the Enzyme-Linked Immunosorbent Assays accounted for the largest share in the immunoassay market.
Insight by Specimen Type
On the basis of specimen type market id subdivided into blood, urine, saliva, and others. Mounting occurrence of chronic and infectious diseases and escalating number of blood donations are the factors growing the demand for a blood specimen. Among the all specimen type, the blood specimen accounted for the largest share and is expected to grow at the fastest rate in the immunoassay market.
Insight by Application
On the basis of application, the market is subdivided into infectious diseases, oncology, cardiology, autoimmune disorders, neonatal screening, endocrinology, bone & mineral disorders, hematology & blood screening, toxicology, and others. Escalating number of product approvals and mounting occurrence of infectious disease are the factors growing the demand for infectious disease application. Among all applications, the infectious diseases accounted for the largest share in the immunoassay market.
Insight by End User
The different end user of the market is hospitals, blood banks, clinical laboratories, pharmaceutical, and biotechnology companies & contract research organizations (CROs), research & academic laboratories and others. Maximum diagnostic tests are executed in hospitals or hospital-attached laboratories owing to effortless access to reports and effortless logistics are the factors growing the demand of immunoassay in hospitals. Among all end users, the hospitals accounted for the largest share in the immunoassay market.
The technological progressions in immunoassay instruments, essential function of immunoassays in drug and alcohol analysis, boosting acceptance of immunoassay-based point-of-care testing and speedy testing and progression in the biotechnology and biopharmaceutical industries are the primary growth drivers for immunoassay market.
Mounting occurrence of chronic and infectious diseases is also driving the growth of the market. Increasing significance of companion diagnostics in the immunoassays market, expansion of condition-specific biomarkers and tests, and incorporation of microfluidics technology in immunoassays are also facilitating the growth for the immunoassay market.
The strict regulatory requirements for the sanction of immunoassay instruments and consumables, employment of excise duty on the sale of medical devices in the U.S. complexities in conducting diagnostic tests and unfavorable compensation scenario are the major challenges for the growth of immunoassay market.
Geographically, North America is the largest immunoassay market as in the region the prevalence of chronic disease and infectious diseases is increasing. Accessibility of government assets, mounting usage of immunoassays in clinical diagnostics, improved healthcare infrastructure, and the existence of key players are also up surging the growth of the North American immunoassay market.
Asia-Pacific is observed to witness the fastest growth in the market, as the region comprises of the large population base. In addition, mounting occurrence of infectious diseases and chronic diseases and refining healthcare infrastructure are also creating a positive impact on the immunoassay market growth in the region.
Key players in the immunoassay market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In June 2016, Roche launched the cobas e 801 module, a testing immunoassay solution, in order to meet the demand for increased diagnostic testing. F. Hoffmann-La Roche AG, Agilent Technologies Inc., Abbott Laboratories Inc., Thermo Fisher Scientific Inc., Siemens AG, QIAGEN N.V., Danaher Corporation, Ortho Clinical Diagnostics Inc., Sysmex Corporation, Bio-Rad Laboratories Inc., BioMérieux SA, Becton, Dickinson & Company, and Mindray are the key players offering immunoassay.
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