Immunoassay Market to have a Profitable Run during Forecast Period (2017-2023) to Expand owing to High Accuracy Levels
Immunoassay Market Overview
The latest studies conducted by Market Research Future (MRFR) point out that the global immunoassay market is projected to reach the valuation of USD 771.1 million by 2023, garnering a CAGR of 8.18% during the forecast period (2017-2023).
The leading vendors currently thriving in the worldwide Immunoassay Market include,
- Sysmex Corporation
- Siemens Healthineers
- Dickinson and Company
- Thermo Fisher Scientific Inc.
- bioMérieux Inc.
- Danaher Corporation
- Hoffmann-La Roche Ltd
- Bio-Rad Laboratories Inc.
- Abcam plc. and Abbott Laboratories
- among others.
Thermo Fisher Scientific Inc. recently developed Thermo Scientific QMS Plazomicin Immunoassay, a diagnostic immunoassay that measures concentration of plazomicin. It is used for measuring the amount of plazomicin by making use of an automated clinical chemistry analyzer referred to as Beckman Coulter AU 680.
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Immunoassay Market Drivers and Top Barriers
Factors that have resulted in the strong growth of the immunoassay market include the consistent expansion of the biotechnology and pharmaceutical sectors, cost-effectiveness of the product, along with the excellent level of specificity and sensitivity of immunoassays. Compared to the traditional forms of tests, immunoassays are considered to be the ideal option to provide strongly accurate results, even with the availability of extremely small samples.
The immunologic reactions are considered to be extremely specific, since they occur only when proper immunologic agents are present. To illustrate, an antibody acting against a viral protein does not have the ability bind with an antigen which has been derived from bacteria. Therefore, this excellent specificity points towards high accuracy of the results, enabling elevated sensitivity for detecting the diseases. This high sensitivity also helps in eliminating the requirement for secondary verifications, ultimately reducing the overall cost. To sum it up, the high specificity, sensitivity and the cost-saving property of immunoassays are expected to land the immunoassays market at higher levels internationally. But the complex assay procedures related to immunoassays could slow down the growth of the market in the near future.
Apart from this, many of the research labs around the world are now considering immunoassay automation for enabling microplate-based assays, in addition to the automation of different processing steps like assay assembly, sample preparation, plate reading or plate washing.
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Immunoassay Market Segmentation
The worldwide immunoassay market is segmented on the basis of product & service, type, application, and end user.
- Depending on the product & service, the global immunoassay market is considered for kits and reagents, analyzers, and software and services, wherein the kits and reagents segment was worth USD 218.8 million in 2017.
- The types of immunoassay covered in the report include enzyme-linked immunosorbent assay (ELISA), enzyme-linked immunospot assay (ELISpot), radioimmunoassay (RIA), chemiluminescence (CLIA), fluoroimmunoassay, among others.
- Application-wise, the worldwide immunoassay market caters to infectious diseases, cancer research, endocrinology, autoimmune disorders, and others.
- The end-user-based segments in the global immunoassay market are pharmaceutical and biotechnology companies, academic institutions and laboratories, and others.
Immunoassay Market Regional Analysis
The Americas, Asia Pacific, Europe and the Middle East and Africa are some of the key regions where the global immunoassay market is set to expand during the forecast period (2017-2023).
At a global level, the Americas has landed at the top position with a value of USD 184.7 million in the year 2017. The region is predicted to retain its leading position well throughout the review period owing to factors including the elevated number of research projects taking place in laboratories. The market in the Americas is further segmented into smaller markets of North and South America.
The immunoassays market in Europe is presumed to be the second-biggest during the assessment period on account of the increasing adoption of immunoassay in diagnostic measures. Besides, the high expenditure on research and development (R&D) by various government organizations as well as pharmaceutical companies, for the treatment of diseases and disorders like diabetes and chronic ailments are touted to be the driving force backing the growth of the market during the conjectured time frame.
Growing at the fastest-rate, Asia Pacific is predicted to soar high on the back of the expanding healthcare infrastructure along with the growth in the disposable income. Also, the rise in the healthcare infrastructure has led to the growth of the number of research activities, bringing further news for the market
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