Transparency Market Research has published a new report on the global immunoassay instruments market. As per the report, the global immunoassay instruments market had a valuation of US$13.5 bn in 2013. The report, titled ‘Immunoassay Instruments Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,’ states that the global market is predicted to expand at an 8.10% CAGR from 2014 to 2020 to reach US$23.3 bn by 2020.
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The increasing rate of HIV infections and the increasing incidence of chronic diseases will benefit this market, states the report. Over the past few years, a growing pool of obese people have been diagnosed with diabetes. As per the World Health Organization, currently, there are approximately 347 million individuals worldwide suffering from diabetes. Many medical centers and laboratories use immunoassay tests to investigate diabetes. The growing pool of diabetic people is another factor predicted to propel the global immunoassay instruments market.
An immunoassay, a lab-based diagnostic procedure, helps to diagnose various infectious diseases and disorders such as HIV, cancer, diabetes, hepatitis, and thyroid disorders. Immunoassay instruments are used to study the development of antibody-antigen complexes in body fluids such as blood samples. Immunoassays find application in cardiology, infectious diseases, oncology, endocrinology, autoimmune diseases, drugs of abuse, and therapeutic drug monitoring. The main technologies employed in immunoassays are immunofluorescence, chemiluminescent immunoassay, enzyme-linked immunosorbent assay (ELISA), radioimmunoassay, and enzyme-linked fluorescence.
The growing use of immunoassay instruments for clinical and environmental testing in clinical laboratories and hospitals is predicted to benefit the global market in the next five years. Factors such as the constant introduction of new medical devices and the rising demand for effective immunoassays are expected to propel the worldwide market for immunoassay instruments. The global immunoassay instruments market has registered significant growth in the recent past and is expected to witness an upward growth trend in the near future.
The global immunoassay instruments market is segmented on the basis of product type, application, and geography. Based on product type, the global market is classified into chemiluminescence (CLI) analyzers, immunofluorescence (IFA) analyzers, enzyme immunoassay instruments, radioimmunoassay analyzers, enzyme-linked fluorescent systems, and multiplexed assay systems.
The rising preference for customized medicines is expected to create new opportunities in the global immunoassay instruments market. Technical advancements in the discovery of biomarkers are also expected to drive the demand for immunoassay instruments globally. However, the high production cost of technologically advanced immunoassay systems is expected to hamper the global immunoassay instruments market in the near future.
Some of the leading players operating in this global market are Abbott Laboratories, DiaSorin S.p.A, Roche Diagnostics, bioMerieux, Siemens Healthcare, and Thermo Fisher Scientific. Leading players in the global market are concentrating on developing reliable and compact immunoassay instruments.
The global immunoassay instruments market is geographically spread across North America, Europe, Asia Pacific, and Rest of the World. Leading manufacturers of immunoassay instruments are focusing on innovations to gain competitiveness. In 2013, North America dominated the global immunoassay instruments market, followed by Europe.