According to the report, the global immunoprotein diagnostic testing market is expected to rise to US$15,351.0 mn by 2019. On the basis of assay technology, the market is expected to be led by enzyme-based immunoassay. The segment is expected to be worth US$5,342.1 mn by 2019. By immunoprotein type, the market is projected to be led by immunoglobulin diagnostic tests, which is estimated to be worth US$4,774.2 by 2019. On the basis of application, the oncology testing segment will lead, and the market is estimated to be worth US$4,943.0 mn by 2019. The oncology segment is also expected to expand at a significant pace. North America market for immunoprotein diagnostic testing is expected to be worth US$6,079.0 mn by 2019. However, Asia Pacific is expected to emerge as the region where the immunoprotein diagnostic testing market is developing at a fast pace.
The global immunoprotein diagnostic testing market is led by many global giants. Some of the players in the market are Siemens, Roche, Abbott, and Thermo Fisher Scientific. Companies are constantly investing in research and development so as to launch newer and better products. Distributors in the market are supplying products for more than one company. A new report by Transparency Market Research (TMR) states that homogenous products can saturate the market. There exists high barriers for entering in the global immunoprotein diagnostic testing market, as intensive capital investments are required and companies also have to comply with various regulatory agencies. Since the market has both local as well as global players, small players can easily enter the market by way of forward integration. Thus, the threat of new entrants is expected to be medium in the coming years.
Market to Benefit from Technological Advancements
The prevalence of diseases such as typhoid, hepatitis, tuberculosis, malaria, HIV, and cancer has become a concern for countries across the globe. These diseases are more prevalent in underdeveloped economies and hence, the demand for low cost, effective diagnostic tests is high in these countries. Some disease are difficult to diagnose in early stages and result in severe complications later on, which is difficult to treat. Thus, immunoprotein diagnostic kits can be used to provide accurate and quick diagnosis of diseases, driving the market. Technological innovations are also upgrading the market, ensuring a continued growth of the industry. For instance, the latest multiplex technology is expected to reduce the amount of sample required for tests and this also allows the testing of multiple biomarkers in a single assay, thereby reducing cost per test.
High Cost of Diagnosis to Limit Adoption Rates in Cost Sensitive Regions
The key restraining factor for the global immunoprotein diagnostic testing market is the high cost of these tests, which is causing patients to seek other alternatives for diagnosis. This is especially true for underdeveloped economies in Africa and the Middle East. The market has overcome this barrier in countries such as China, Brazil, and India, where the economy is improving. However, to overcome this issue, governments across countries such as Nigeria and other Arabic countries are making health insurance regulations and improving healthcare in private sector. These initiatives are expected to help overcome the high cost issue of immunoprotein diagnostic tests.
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In terms of opportunities, continuous research and development to expand the application of the available technologies, is expected to result in newer products. This will serve as a growth opportunity in the market. “Furthermore, the cost effective diagnostic kits for infectious disease testing is expected to be in great demand from developing nations of Asia Pacific and the Rest of the World,” says a TMR analyst.
This information is based on the findings of a report published by Transparency Market Research titled “Immunoprotein Diagnostic Testing Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.”
The global immunoprotein diagnostic testing market is segmented as follows:
- Enzyme Based Immunoassay
- Chemiluminescence Assay
- Immunofluorescence Assay
- Immunoturbidity Assay
- Immunoprotein Electrophoresis
- Complement System Proteins Diagnostic Tests
- Free Light Chain Diagnostic Tests
- Haptoglobin Diagnostic Tests
- Immunoglobulin Diagnostic Tests
- Prealbumin Diagnostic Tests
- C-Reactive Protein (CRP) Diagnostic Tests
- Infectious Disease Testing
- Oncology Testing
- Endocrine Testing
- Toxicology Testing
- Allergy Testing
- Autoimmune Disease Testing
- North America
- Asia Pacific
- Rest of the World
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