Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 5.2 Billion | USD 8.01 Billion | 5.44% | 2022 |
The global chemiluminescence immunoassay analyzer market size was evaluated at $5.2 billion in 2022 and is slated to hit $8.01 billion by the end of 2030 with a CAGR of nearly 5.44% between 2023 and 2030.
A chemiluminescence immunoassay analyzer is an equipment that is utilized for identifying and monitoring chronic disorders. Furthermore, it plays a key role in in-patient care as it provides doctors with the information they require for identifying and treating a slew of ailments. Reportedly, these medical devices are utilized for diagnosing diseases such as genetic diseases, heart disorders, and contagious diseases. Apart from this, chemiluminescence immunoassay analyzers assist doctors in developing effective modes of medical treatments based on the genetic makeup of each individual. Additionally, the outcomes availed from clinical trials performed on patients by using chemiluminescence immunoassay analyzers enable physicians to understand pathophysiology, etiology, prognosis, illness, and diagnosis.
The chemiluminescence immunoassay analyzer market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global market space. The report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the chemiluminescence immunoassay analyzer industry report explores the investor and stakeholder space to help companies make data-driven decisions.
Rising cases of chronic diseases will embellish the global market surge over 2023-2024
The rise in the occurrence of chronic disorders such as cancer has paved the way for the global chemiluminescence immunoassay analyzer market demand. As per the WHO survey, nearly 9 million deaths occurred due to cancer in 2018. Reportedly, cancer has led to the demise of about 70% of individuals in countries having a large population falling in the range of lower as well as middle income. An increase in the acceptance of completely automated equipment in hospitals, clinics, and various other healthcare units will prompt market trends globally. Large-scale use of products in hepatitis, oncology, retrovirus, endocrinology, and auto-immune disorders will embellish the expansion of the global market.
A prominent surge in contagious diseases will translate into the massive use of chemiluminescence immunoassay analyzers in hospitals. New product launches will contribute majorly towards the global market size. For instance, in July 2023, Fapon Biotech, a leading player in the life science industry, launched a new chemiluminescence immunoassay system referred to as Shine i8000/9000. Additionally, in November 2022, Getein Biotech, Inc., a Biotech firm based in China, launched new POC solutions that include rapid tests and analyzers. Such moves are likely to boost the expansion of the global market in the ensuing years.
A steep rise in product costs can restrict the global industry expansion over the forecast period
The huge costs of chemiluminescence immunoassay analyzer-based products can impede the growth of the chemiluminescence immunoassay analyzer industry globally. A rise in the maintenance & calibration costs of the product can further put brakes on the global industry surge.
Beneficial product features will open new growth opportunities for the global market
The product provides high throughput and connectivity along with automation, thereby offering new avenues of growth for the global chemiluminescence immunoassay analyzer market. Furthermore, a surge in the demand for point-of-care testing will offer new facets of expansion for the market across the globe. Governments across the globe are allocating massive funds for improving the healthcare infrastructure and this is predicted to drive the global market in the upcoming years.
Low availability of experts can put up a big challenge for the global industry in the near future
The lack of availability of skilled persons can be a challenging task for the global chemiluminescence immunoassay analyzer industry. High prices of equipment can prove to be a daunting task for healthcare professionals and this can prove to be the biggest hurdle in the growth of the industry across the globe.
The global chemiluminescence immunoassay analyzer market is sectored into product, application, end-use, and region.
In product terms, the global chemiluminescence immunoassay analyzer market is segregated into instruments, software & services, and consumables segments. In addition to this, the consumables segment, which gathered nearly 57% of the global market share in 2022, is anticipated to record the fastest CAGR in the forecast timeline. The growth of the segment in the ensuing years can be attributed to a rise in the demand for consumables including reagents & stains in therapeutic medicine monitoring, disease diagnosis, and endocrinology.
On the basis of the application, the chemiluminescence immunoassay analyzer industry across the globe is sectored into infectious diseases and oncology segments. Furthermore, the oncology segment, which garnered a notable share of the global industry in 2022, is projected to dominate the application segment in the forecasting years. The segmental surge in the forecast timeline can be owing to a rise in the occurrence of cancer and surging awareness about its diagnosis in developing countries.
Based on the end-use, the global chemiluminescence immunoassay analyzer industry is bifurcated into pharmaceutical & biotech firms, hospitals, and clinical laboratories segments. In addition to this, the hospital segment, which contributed lucratively towards the global market share in 2022, is expected to establish global market dominance in the upcoming years. The segmental surge over the assessment period can be due to the growing preference for the product in hospitals and the increase in hospital visits with a rise in the occurrence of cancer & contagious diseases.
Report Attributes | Report Details |
---|---|
Report Name | Chemiluminescence Immunoassay Analyzer Market Report |
Market Size in 2022 | USD 5.2 Billion |
Market Forecast in 2030 | USD 8.01 Billion |
Growth Rate | CAGR of 5.44% |
Number of Pages | 216 |
Key Companies Covered | Siemens Healthineers, DiaSorin S.p.A., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Abbott Laboratories, Beckman Coulter Inc., Immunodiagnostic Systems, Inova Diagnostics Inc., F. Hoffmann-La Roche AG, Ortho Clinical Diagnostics, and Maccura Biotechnology Co. Ltd. |
Segments Covered | By Product, By Application, By End-Use, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America to account for a major share of the global market over the analysis timeline
North America, which accounted for more than half of the global chemiluminescence immunoassay analyzer market share in 2022, is predicted to dominate the global market over the expected timeframe. The market surge in the region over the assessment timeline can be due to the easy availability of well-structured healthcare infrastructure facilities in countries such as the U.S. and Canada. A surge in the allocation of funds by the government for research activities pertaining to chemiluminescence immunoassay analyzers will embellish the regional market growth trends. Moreover, favorable compensation policies will contribute majorly towards regional market expansion. Furthermore, the rise in the geriatric population prone to chronic disorders will shape the growth of the market in the sub-continent.
Furthermore, the chemiluminescence immunoassay analyzer industry in Asia-Pacific is set to register the fastest CAGR in the analysis timeframe. The key growth driving factors of the industry in the region include a surge in awareness about chronic disorders in countries such as India and China. Moreover, the launching of new products by regional players along with the presence of giant players in the region will augment the regional industry expansion.
The global chemiluminescence immunoassay analyzer market profiles key players such as:
By Product
By Application
By End-Use
FrequentlyAsked Questions
A chemiluminescence immunoassay analyzer is equipment that is utilized for identifying and monitoring chronic disorders. Furthermore, it plays a key role in in-patient care as it provides doctors with the information they require for identifying and treating a slew of ailments. Reportedly, these medical devices are utilized for diagnosing diseases such as genetic diseases, heart disorders, and contagious diseases. Apart from this, chemiluminescence immunoassay analyzers assist doctors in developing effective modes of medical treatments based on the genetic makeup of each individual.
The global chemiluminescence immunoassay analyzer market growth is owing to an increase in the acceptance of completely automated equipment in hospitals, clinics, and various other healthcare units.
According to a study, the global chemiluminescence immunoassay analyzer industry size was $5.2 billion in 2022 and is projected to reach $8.01 billion by the end of 2030.
The global chemiluminescence immunoassay analyzer market is anticipated to record a CAGR of nearly 5.44% from 2023 to 2030.
The Asia-Pacific chemiluminescence immunoassay analyzer industry is set to register the highest CAGR over the forecasting timeline owing to a surge in awareness about chronic disorders in countries such as India and China. Moreover, the launching of new products by regional players along with the presence of giant players in the region will augment the regional industry expansion.
The key players influencing the global market expansion are Siemens Healthineers, DiaSorin S.p.A., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Abbott Laboratories, Beckman Coulter Inc., Immunodiagnostic Systems, Inova Diagnostics, Inc., F. Hoffmann-La Roche AG, Ortho Clinical Diagnostics, and Maccura Biotechnology Co., Ltd.
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