Immunoassays are a diagnostic procedure carried out in a laboratory to assess the level of several biomolecules such as hormones and proteins, which are indicators of the presence of disorders or conditions such as HIV, autoimmune, diabetes, hepatitis, and thyroid disorders, among others. In the past few decades, there has been a tremendous development in immunodiagnostics. For instance, the use of smartphones for immunodiagnostics is likely to increase the reach of these testing methods to remote locations in several developing countries. Equipped with high-resolution cameras, GPRS, cloud computing technology, and advanced processors, telemedicine is set to be the future of immunodiagnostics. With billions of phone users around the world, the smartphone-based immunodiagnostics segment is expected to establish a firm foothold in the global immunoassay instruments market.
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Chemiluminescence Analyzers: A Rapidly Expanding Segment
The global immunoassay instruments market is segmented on the basis of product, application, and geography. On the basis of product, this market is categorized into multiplexed assay systems, enzyme linked fluorescent assay (ELFA) systems, radioimmunoassay (RIA) systems, enzyme immunoassay instruments, immunofluorescence analyzers (IFA), and chemiluminescence (CLI) analyzers.
Owing to high degree of accuracy and sensitivity, the segment for chemiluminescence analyzers is rapidly expanding. Some of the other major segments that ensure accuracy and reliability in detection are ELFA systems and immunofluorescence analyzers. The segment for immunofluorescence analyzers, in particular, is anticipated to grow significantly in the forthcoming years.
Based on application, the global immunoassay instruments market is segmented into drugs of abuse testing, autoimmune diseases testing, therapeutic drug monitoring, cardiology, oncology, infectious disease testing, and endocrinology.
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Europe and North America: The Mature Regional Markets
From the regional perspective, the global immunoassay instruments market is segmented into Asia Pacific, North America, Europe, and Rest of the World. With a collective market share exceeding 50%, Europe and North America are the leaders in the global immunoassay instruments market owing to factors such as the availability of sophisticated diagnostic technology and widespread adoption of newer assay technologies.
Another factor responsible for making these regions such strong markets in the overall immunoassay instruments market is the presence of numerous immunoassay instruments manufacturing companies in these regions. Increasing prevalence of infectious and endocrine disorders in addition to surging demand for immunoassay platforms is anticipated to propel the immunoassay instruments market in Asia Pacific and Rest of the World.
Asia Pacific and Rest of the World are anticipated to be the emerging and promising markets in the global immunoassay instruments market owing to the untapped areas in healthcare research and a large population base of patients needing immunoassays. The immunoassay instruments markets in Europe and North America, on the other hand, are mature markets and offer a very limited scope for further expansion.
Operational Expansion: A Key Focus Area
The global immunoassay instruments market is a highly consolidated one, with only a handful of companies holding a collective market share exceeding 50% of the total market. Most companies operating in the global immunoassay instruments market invest huge funds for research and development. Large-scale operational expansion is also a key focus area for most companies in the immunoassay instruments market.
Some of the prominent players in this industry are Ortho Clinical Diagnostics, bioMerieux, Beckman Coulter, Siemens Healthcare, and Siemens Healthcare. A growing patient population coupled with continuous product amendments is expected to drive the immunoassay instruments market in the forecasting horizon. However, a potential threat that will hamper the growth of the immunoassay instruments market is the problem of steep costs associated with highly sophisticated immunoassay systems.