The size of the Immunoassay Market in North America was worth USD 7.39 Billion in 2022. It is estimated to reach USD 11.72 Billion by the end of 2027, growing at a CAGR of 9.66% between 2022 to 2027. North America accounted for the largest share in the market due to the increasing adoption of low-cost immunoassay instruments in research and clinical laboratories, rising application of immunoassay techniques in cancer research.
Immunoassay is a test that uses protein or immune serum globulin to determine the concentration of macromolecules in a solution. Analyze is the term referring to the discovered supermolecule. For medical and analysis purposes, immunochemical assays measure the number of analyses in body fluid and urine. It's also used in qualitative, quantitative, and emission procedures to ensure the correctness of the results. In addition, immunoassays with high sensitivity and specificity are utilized to speed up the reactions.
The increased frequency of chronic and infectious disease, advances in immunoassay technology, and increased acceptance of immunoassay products are majorly driving the market growth for immunoassay in the North American region during the forecast period.
Chronic diseases such as diabetes, heart disease, and cancer are on the rise. In addition, infectious diseases such as SARS-CoV2 (COVID-19), Dengue fever, Hepatitis B, C, HIV, Malaria, Tuberculosis, and others are spreading at an alarming rate. Immunoassay diagnosis has become a critical component of many disorders' diagnoses. Immunoassay technology improves, resulting in faster results with improved efficacy, detection limits, sensitivity, and cost-effectiveness. The widespread use of fast tests and point-of-care testing for disease detection, as well as drug and alcohol addiction, has propelled the immunoassay market to new heights.
The introduction of novel biomarkers and increased government and corporate investment in the pharmaceutical and biotechnology industry in emerging markets are driving the immunoassay market in North America.
Factors such as complicated assay techniques and immunoassay limitations could stymie market growth in the North American region. The approval and commercialization of immunoassay consumables and equipment have been subject to severe regulations by regulatory bodies in this region. Furthermore, technological challenges faced by immunoassay kits and reagents, such as cross-reactivity of antibodies, limited detection limits of accessible antibodies, lack of reimbursement programs and stringent storage requirements, false negatives, and others, stifle the North American immunoassay market's expansion.
This research report on the North American Immunoassay Market has been segmented & sub-segmented market into the following categories:
By Technology:
By Application:
By End User:
By Country:
Geographically, because of the increasing adoption of low-cost immunoassay equipment in research and clinical laboratories, rising immunoassay approaches in cancer research, and improving laboratory infrastructure, the North American immunoassay market had the biggest share in the global market in 2020. In addition, some of the other major factors propelling the regional market include rising R&D investment by government organizations and pharmaceutical corporations for disorders and diseases such as chronic ailments and diabetes.
The United States immunoassay market had the greatest market share in the North American region in 2020, and this can mostly be ascribed to rising rates of chronic diseases, infectious diseases, and the growing geriatric population, as well as the region's well-developed healthcare infrastructure and increasing penetration of medical technologies. At the same time, Canada is a market leader due to increased research and development efforts to improve products.
The simple availability of technologically advanced instruments in the United States is one of the main reasons for the region's substantial sector share. Because this approach is used to identify specific antigens or antibodies in samples, the Enzyme Immunoassays (EIA) category had the highest revenue share. This method facilitates the diagnosis of chronic and viral disorders with pinpoint accuracy.
KEY MARKET PLAYERS:
Some of the major companies dominating the North American market are Roche Diagnostics, DiaSorin S.p.A, Beckman Coulter, Siemens Healthcare, Ortho Clinical Diagnostics, bioMerieux, Thermo Fisher Scientific and Abbott Laboratories, Akers Biosciences, Inc, Becton Dickinson and Company, Devon Medical Products, EDP Biotech Corporation, Hologic (Gen-Probe), Intrinsic LifeSciences.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Technology
5.1.1 Introduction
5.1.2 Enzyme Immunoassay
5.1.3 Fluorescent Immunoassays
5.1.4 Cheniluminescence Immunoassays
5.1.5 Nephelometric Immunoassays
5.1.6 Radio Immunoassays
5.1.7 Counting Immunoassays
5.1.8 Counting Immunoassays
5.1.9 Others
5.1.10 Y-o-Y Growth Analysis, By Technology
5.1.11 Market Attractiveness Analysis, By Technology
5.1.12 Market Share Analysis, By Technology
5.2 Application
5.2.1 Introduction
5.2.2 Oncology
5.2.3 Cancer
5.2.4 Hematology
5.2.5 Cardiology
5.2.6 Thyroid
5.2.7 Infectious disease
5.2.8 Allergies
5.2.9 Others
5.2.10 Y-o-Y Growth Analysis, By Application
5.2.11 Market Attractiveness Analysis, By Application
5.2.12 Market Share Analysis, By Application
5.3 End users
5.3.1 Introduction
5.3.2 Hospitals
5.3.3 Clinics
5.3.4 Academic research institutes
5.3.5 Pharmaceutical and Biotech vendors
5.3.6 Laboratories
5.3.7 Others
5.3.8 Y-o-Y Growth Analysis, By End users
5.3.9 Market Attractiveness Analysis, By End users
5.3.10 Market Share Analysis, By End users
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Technology
6.1.3.3 By Application
6.1.3.4 By End users
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Technology
6.1.4.3 By Application
6.1.4.4 By End users
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Technology
6.1.5.3 By Application
6.1.5.4 By End users
6.2 United States
6.3 Canada
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Roche Diagnostics
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 DiaSorin S.p.A
8.3 Beckman Coulter
8.4 Siemens Healthcare
8.5 Ortho Clinical Diagnostics
8.6 bioMerieux
8.7 Thermo Fisher Scientific
8.8 Abbott Laboratories
8.9 Akers Biosciences
8.10 Becton Dickinson and Company
8.11 Devon Medical Products
8.12 EDP Biotech Corporation
8.13 Hologic
8.14 Intrinsic LifeSciences
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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