Status : Published Published On : Aug, 2022 Report Code : VRHC1048 Industry : Healthcare Available Format : Page : 168
2022
2030

Global Immunoassay Market – Analysis and Forecast (2022–2030)
Industry Insights by Product and Services (Analyzers, Reagents & Kits and Software & Services), by Platform (Chemiluminescence, Colorimetric, Fluorescence, Radioimmunoassays, Others), by Technology (Enzyme-Linked Immunosorbent Assays, Enzyme-Linked Immunospot, Immuno-PCR, Rapid Tests, Western Blotting, Others), by Specimen Type (Blood, Urine, Saliva, Others), by Application (Infectious Diseases, Oncology, Cardiology, Autoimmune Disorders, Neonatal Screening, Endocrinology, Bone & Mineral Disorders, Hematology & Blood Screening, Toxicology, Others) and by End User (Hospitals, Blood Banks, Clinical Laboratories, Pharmaceutical and Biotechnology Companies & CROs, Research & Academic Laboratories and Others), by Geography (U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Saudi Arabia, South Africa, U.A.E.)

Industry Overview

In scientific research, immunoassay is frequently used to track various proteins, hormones, and antibodies in order to analyze biological systems. In the workplace, they are used to monitor particular molecules utilized in the production of products as well as to detect toxins in food and water.

The size of the global immunoassay market, which was estimated at USD 28.1 billion in 2021, has been expanded and is anticipated to rise at a CAGR of 6.7% from 2022 to 2030. Growth will also be aided by the increase in the elderly population, who are more susceptible to infections and chronic diseases. The widespread use of immunoassay techniques in illness diagnostics is a result of a rise in the incidence of chronic ailments such cancer, infections, cardiovascular diseases, autoimmune diseases, diabetes mellitus, and nephrological diseases. Due to the rising use of immunoassay tests and the prevalence of chronic and infectious diseases, the market has seen a high demand for kits and reagents in recent years.

Immunoassay Market Highlights

Market Segmentation

Insight by the Product and Services

The Immunoassay market is split into analyzers, reagents & kits, and software & services based on products and services. With a revenue share of over 60.0% in 2021, the reagents and kits segment dominated the immunoassay market. Over the forecast period, the segment is anticipated to keep up its lead. Due to the rising incidence of viral and autoimmune disorders, there is a significant demand for immunoassay reagents and kits for diagnostic purposes. Additionally, it is anticipated that the approval and introduction of innovative immunoassay kits will help the segment's expansion. Due to the need for repeat purchases of kits and reagents, the increasing number of immunoassay tests, and the rising incidence of chronic and infectious diseases, the reagents and kits category had the biggest market share of all the products and services.

Insight by Platform

Key Platforms

Radioimmunoassays (RIAs), Colorimetric immunoassays (CIs),Chemiluminescence immunoassays (CLIAs),Fluorescence immunoassays (FIAs) and Others

Market Player Platform - Chemiluminescence immunoassays (CLIAs)

The CLIAs have the largest market share across all platforms in the immunoassay industry which was valued at USD 7.34 billion in 2020 has the expected CAGR 6.3% for the period of 2022 to 2030. CLIA widely used in the detection of chronic diseases such cancer, diabetes, autoimmune disease, cardiovascular disease, and infectious and autoimmune disorders.

Insight by Technology

Key immunoassay market technologies

Enzyme-Linked Immunosorbent Assays (ELISA), Enzyme-linked immunospot,Immuno-PCR, fast testing, Western blotting, and other technologies.

Market player technology- Enzyme-Linked Immunosorbent Assays(ELISA),

The Enzyme-Linked Immunosorbent Assays held the biggest market share because of frequent test of wide range of infectious and chronic illnesses such as HIV and AIDS. The immunoassays across all technologies has anticipated to reach US$ 2,016.1 million in value in 2022 and its expected CAGR for next five year (2022-2030) is of 6.4% to reach the value of US$ 4.02 billion.

Insight by Specimen Type

The market is segmented into blood, urine, saliva, and other specimen types. Due to the rising incidence of infectious and chronic diseases and number of blood donors, the blood specimen had the biggest proportion of all specimen types. It is predicted to increase at the fastest rate in the immunoassay market. The market size of blood specimen was valued at USD 82.5 billion and is expected to grow with the CAGR of 8.3% till in 2028.

Insight by Application

Market Segments

Infectious illnesses, oncology, cardiology, autoimmune disorders, neonatal screening, endocrinology, bone & mineral disorders, hematology & blood screening, toxicology, and others

Market Player - Infectious Disease treatment

Expected CAGR (2022-2030) - 8.0% to reach the value of US$ 106.3

Factors affecting the growth

Frequent incidence occurrence of infectious diseases and the increasing number of product approvals.

Insight by End User

Market Segments

Hospitals, Blood banks, Clinical Laboratories, pharmaceutical, biotechnology companies, Contract Research Organization (CROs) and research and academic laboratories and others.

Market Players - Hospitals and clinical

Hospitals are the primary end-user in the immunoassay industry. With a projected 81% market share for diagnostic testing at hospitals, hospitals are expected to dominate. The tests at hospitals give the best time and cost savings, and they also have a straightforward method. It is projected that the widespread use of ELISA in blood banks to treat infectious diseases would lead to an increase in immunoassay testing in hospitals. The blood bank sector will benefit from the increase in blood transfusions.

Industry Dynamics

The outbreak of Covid-19 affected the immunoassay industry. The market vendors' assessments, strategies, technology assessments, product mapping, industry outlook, economic analysis, segmental analysis, immunoassay market sizing, and analysis tables have all been impacted. With exclusive, in-depth market data, Vynz researches the revenue potential of all high-growth technologies, improving the yearly increases in sales. We have been able to locate new revenue prospects in specialized industries with rapid growth thanks to our knowledge. Our ability to use the client in conjunction with a planned strategy to build an ascending business model has been significantly improved by comprehensive data assets and our revenue model. To understand the present and future state of the immunoassay market and how it will affect the company's income, VynZ research offers a thorough analysis of every sector.

Growth Drivers

The main growth factors for the immunoassay market are technological advancements in immunoassay instruments, immunoassays' critical role in drug and alcohol analysis, the increasing acceptance of immunoassay-based point-of-care testing, and rapid testing and development in the biotechnology and biopharmaceutical industries. Additionally, as a consequence of technological breakthroughs, the major market players are consistently working to offer small, dependable, and portable products, which supports market demand.

Challenges

The main obstacles to the expansion of the immunoassay market are the stringent regulatory requirements for the approval of immunoassay instruments and consumables, the use of excise duty on the sale of medical devices in the U.S., the difficulty of conducting diagnostic tests, and the unfavorable compensation environment. According to a projection by the UN Department of Economic and Social Affairs (UNDESA), there will be 1.4 billion individuals in the world who are 60 years of age or older by 2030, up from 901 million in 2015. This is a global increase of 56%. The number of senior citizens worldwide is anticipated to be around 2.1 billion by 2050. In addition, by 2050, there will be over 437 million individuals in China and 324 million in India who are 60 years of age or older. The market for immunoassay equipment will eventually rise as a result of the growing elderly population.

Geographic Overview

The largest market for immunoassays is the North America. The expansion of this immunoassay market is also being driven by the availability of government resources, rising use of immunoassays in clinical diagnostics, improved healthcare infrastructure. Germany contributed to the biggest revenue share of 23.7%, and is anticipated to expand significantly due to the country's supportive healthcare regulations.

Due to its dense population, the Asia-Pacific region is expected to have the market's quickest expansion. Additionally, the region's immunoassay market is growing as a result of rising rates of chronic illnesses and infectious diseases as well as improved healthcare infrastructure.

Competitive Insight

Market participants are bolstering their positions in the immunoassay instruments market by buying up other comparable businesses. Thermo Fisher Scientific Inc., Ortho Clinical Diagnostics, BioMerieux, Inc., Abbott Laboratories, Sysmex Corporation, DiaSorin S.p.A., Siemens Healthcare, and Merck Millipore Corporation are a few of the other major competitors in the market for immunoassay devices. The study evolves the market size information for a number of nations, including the United States, Canada, Germany, the United Kingdom, France, Italy, Spain, China, Japan, India, and Brazil.

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

Immunoassay Market Highlights

Frequently Asked Questions

Asia-Pacific is observed to witness the fastest growth in the market, as the region comprises of the large population base.
North America is the largest immunoassay market as in the region the prevalence of chronic disease and infectious diseases is increasing.
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.
On the basis of product and services, the market is subdivided into analyzers, reagents & kits and software & services.
The industry players are making extensive strategic initiatives and includes mergers and acquisitions, new product development, and regional expansion, to address the unmet needs of patients.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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