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Global Immunoassay Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Technology, Application, End-User and Region – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 1488
Pages: 182
Formats: report pdf report excel report power bi report ppt

Global Immunoassay Market Size (2022 to 2027)

The global immunoassay market size is estimated to be growing at a CAGR of 9.8% during the forecast period. The market size is estimated to value USD 34.71 billion by 2027 and USD 21.75 billion in 2022.

Immunoassay is a procedure used to identify and measure the properties of antibodies and antigens in proteins and other substances. Immunologic assays depend entirely on the reactions with the help of immunologic agents, which are highly necessary for the response to take place. These are used to measure the number of analytes in serum and urine for therapeutic and analysis objectives. It is also employed in qualitative, quantitative, and radioactivity methods to secure the accuracy of outcomes. High sensitivity and specificity of immunoassays are used to catalyze the reactions.

MARKET DRIVERS:

Growing rates of chronic & contagious disease and increasing use of immunoassays in Oncology are majorly driving the growth of the global immunoassay market.

The rise in demand for point of care testing devices and the increasing adoption rate of these devices boost the growth of the immunoassay market. Steadily rising incidence of infections and chronic diseases is also propelling the growth of the global immunoassay market. The availability of adequate and sensitive diagnostics tests is also fuelling the growth rate of the Immunoassay market. The factors such as increasing awareness among people regarding the point of care devices and government initiatives on developing testing devices contribute to the growth of the global immunoassay market. 

Intensive focus on initiatives from the private and public organizations for developing cost-effective drugs and enhancing the efficiency of therapies are expected to create more growth opportunities for the global immunoassay market over the forecast period. The increasing adoption rate of companion diagnostics, which can assist professionals in making decisions by analyzing the patient response to the therapy, is presumed to offer growth opportunities for the market stakeholders during the forecast period. The increasing prevalence of diseases such as tuberculosis, HIV, hepatitis C, dengue among people due to biological factors are boosting the number of opportunities for the growth of the global immunoassay market. Also, improving the approval processes of a novel device to develop therapeutic procedures is anticipated to create growth opportunities for the global Immunoassay Market stakeholders. Increasing demand for safer drugs and specialist therapies across the world is likely to create lucrative opportunities for market players in the region during the forecast period.

MARKET RESTRAINTS:

The inappropriate functioning of regulatory bodies with stringent rules is a significant challenge for key players in the market, obstructing the growth of the global Immunoassay Market. Other factors that are restraining the development of the immunoassay market are continually changing reimbursement policies, and assay procedures are highly complicated.

Impact of COVID-19 on the global immunoassay market:

The COVID-19 pandemic has negatively affected many countries across the globe. Several measures introduced to deal with the pandemic, such as lockdowns, reduction in trade activities, and shutdown of multiple factories and workplaces in several countries, could save lives; however, these measures have wide-ranging economic effects inducing economic contagion. Along with the risk of a slowdown of global growth, the results of COVID-19 are adversely affecting various economic sectors in economies across the globe.

Key manufacturing segments have halted operations across the globe in response to the lockdown regulations issued by governments of various countries and discontinuing public transport services.

End-users of the global immunoassay market worldwide are facing concerns due to government-imposed lockdowns due to the COVID-19 pandemic. It has hampered the manufacture of products. The COVID-19 pandemic impact is estimated to be high on the Immunoassay Market in 2020 and 2021.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Technology, Application, End Users, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Roche Diagnostics, DiaSorin S.p.A, Beckman Coulter, Siemens Healthcare, Ortho Clinical Diagnostics, bioMerieux, Thermo Fisher Scientific, Abbott Laboratories, Akers Biosciences, Inc., Becton Dickinson and Company, Devon Medical Products, EDP Biotech Corporation, Hologic (Gen-Probe) and Intrinsic LifeSciences

 

This research report on the global immunoassay market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2027.

Immunoassay Market - By Technology:

  • Enzyme Immunoassays
  • Fluorescent Immunoassays
  • Chemiluminescence Immunoassays
  • Nephelometric Immunoassays
  • Radio Immunoassays
  • Counting Immunoassays
  • Turbidimetric Immunoassays

Immunoassay Market - By Application:

  • Oncology
  • Cancer
  • Hematology
  • Cardiology
  • Thyroid
  • Infectious diseases
  • Allergies

The infection disease segment dominates the market by contributing significant revenues and maintaining the trend during the forecast period based on the application. It is due to the increasing account of infections such as salmonella infections, Lyme disease among people across the world, which is leading to the increased adoption rate of Immunoassay for the detection of these diseases.

Immunoassay Market - By End User:

  • Hospitals
  • Clinics
  • Academic Research Institute
  • Pharmaceutical
  • Biotech vendors
  • Laboratories

The hospital segment was valued for the largest market share of about 29.8% in 2019, as they offer excellent facilities that incorporate in-house diagnostic laboratories. With an increase in the prevalence of chronic diseases, such as cancer, infectious diseases, and autoimmune diseases, the need for hospitals and diagnostic centers for the detection of antigens in cancer cells has increased.

Clinical laboratories are also increasingly adopting immunoassays, such as immunohistochemical staining. Furthermore, it grew the need for diagnostic centers and clinical laboratories with advanced instruments to perform such tests, thereby supplementing the market growth.

Immunoassay Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Geographically, the North American market accounted for the largest share in the global market in 2020 due to the increasing adoption of low-cost immunoassay instruments in research and clinical laboratories, rising immunoassay techniques in cancer research, and increasing infrastructure for a laboratory.

The Asia-pacific market is expected to show a high CAGR over the forecast period. The expected growth is attributed to the increasing development of new biologics, drugs, and vaccines, a large number of investment opportunities in these immature/emerging markets, rising diagnostics laboratories in this region, growing government and corporate investment in the pharmaceutical and biotechnology segment, increasing focus on attracting international and domestic leaders in the Global Immunoassay Market.

KEY MARKET PARTICIPANTS:

Some of the most promising companies leading the Global Immunoassay Market profiled in this report are Roche Diagnostics, DiaSorin S.p.A, Beckman Coulter, Siemens Healthcare, Ortho Clinical Diagnostics, bioMerieux, Thermo Fisher Scientific, Abbott Laboratories, Akers Biosciences, Inc., Becton Dickinson and Company, Devon Medical Products, EDP Biotech Corporation, Hologic (Gen-Probe) and Intrinsic LifeSciences.

RECENT MARKET DEVELOPMENTS:

  • In 2019, Abbott laboratories developed a fully automated immunoassay analyzer called Abbott Prism and worked on Chia technology. It is highly useful for screening blood with practical outcomes. Other benefits of these systems are cGMP compliant, error reduction owing to the tamper resistance offered by the network, less intervention of humans as the system takes care of the monitoring, processing, and documentation, improved lab efficiency.
  • In July 2018, Cygnus technologies collaborated with Gyros Protein Technologies to develop immunoassay kits to detect biotherapeutics' impurities. The strategic partnership between the two will focus mainly on providing bioanalytical solutions for customers and enhancing productivity in biotherapeutics manufacturing.

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