Immunoassay Market - Global Industry Analysis

Table Of Content

Methodology

Free Analysis

Immunoassay is a type of biochemistry technique that is used either qualitatively or quantitatively to detect the presence of analytes. The analytes present can be in the form of large proteins or antibodies that may be produced due to an infection. This type of test can be used in laboratories or at the site itself. Antibodies or antigens are used as biorecognition agents for detecting the presence of analytes.

According to the National Cancer Institute, in 2018, approximately 1,800,000 new cases of cancer were registered in the U.S. and it caused about 6,00,000 people deaths. This increase in the occurrence of cancer leading to the increased disease diagnosis is likely to drive the immunoassay market in the future. The growing prevalence of other chronic and infectious diseases, such as tuberculosis, AIDS, etc., is projected to further fuel the immunoassay market over the estimated timeframe. The growing awareness about immunoassay techniques for drug and alcohol detection, rising research activities related to immunological disorders and cancer, rapid technological advancements made by major companies, increasing funding by government for the treatment of chronic diseases, and growing biotechnological and pharmaceutical companies in developing countries are also anticipated to boost the global immunoassay market in the years ahead. However, strict regulation for approval of consumables and instruments and unfavorable reimbursement policies may hinder the growth of the immunoassay market globally.

The global immunoassay market is divided into product and service, technology, application, platform, and end-user. By product & service, the market for immunoassay is segmented into reagents & kits, software & services, and analyzer. The reagents and kits segment is anticipated to dominate the immunoassay market over the forecast time period, owing to the increasing prevalence of chronic and infectious diseases. By platform, the immunoassay market is segmented into fluorescence immunoassays, radioimmunoassays, enzyme immunoassays, chemiluminescence immunoassays, and others. The enzyme immunoassays segment is anticipated to grow considerably in the global market due to its accurate results related to the detection of various diseases. By technology, the market is segmented into ELISA, ELISPOT, immuno-PCR, rapid tests, western blotting, and others. ELISA dominated the market in 2018, due to its use in the detection of various diseases, such as cancer, infectious disease. The application segment of the market includes oncology, endocrinology, cardiology, infectious diseases, autoimmune disorders, hematology and blood screening, and others. Infectious diseases are expected to dominate the immunoassay market in the upcoming years, owing to the growing prevalence of tuberculosis in developing nations, such as India and China. By end-user, the market is segmented into pharmaceutical and biotechnology companies, clinical laboratories, contract research organization, hospitals, and others. Hospitals are anticipated to dominate the immunoassay market globally.

By region, North America is projected to dominate the global immunoassay market in the upcoming years, owing to rising healthcare expenditure, increasing prevalence of chronic diseases, and growing research activities related to immunological disorders. The Asia Pacific immunoassay market is projected to show the highest rate of growth over the forecast time period, owing to the rising prevalence of infectious diseases in China and India, increasing product launches, growing investments made in R&D by the government, and increased establishments of the pharmaceutical and biotechnological companies.

Some key players of the global immunoassay market are Siemens, Roche, Abbott Laboratories, Danaher Corporation, QIAGEN, Thermo Fischer Scientific, Bio-Rad Laboratories, Agilent Technologies, bioMerieux, Merck, Bio-Techne Corporation, and PerkinElmer.