The immunodiagnostics market size was valued at USD 15,777.5 Million in 2017, is projected to reach USD 22,732.7 Million by the end of 2025, exhibiting a CAGR of 4.7%. Immunodiagnostic is a new method to conduct analysis, hence its application reach is less at present. However, increasing adoption of immunodiagnostic in the diagnosis of cancer, endocrine disease, and others is likely to propel the demand in the immunodiagnostics market.
Product launch and approval for new immunodiagnostic products and services is also expected to increase the growth rate in the global market. For instance, in 2017 the OPKO Health Inc., received approval from the U.S. Food and Drug Administration to conduct a full prostate-specific antigen text with immunoassay analyzer. Rising adoption of immunoassay analyzer will facilitate cost effectiveness and minimal steps diagnostic procedure. This is a chief driver of the market.
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“Rising Prevalence of Chronic Diseases to Drive the Global Market”
The rising incidence of diseases such as HIV, respiratory, cancer, and others is likely to push the growth in the immunodiagnostics market. Additionally, growing geriatric population and favorable reimbursement policies are expected to drive the market during the forecast period 2018-2025.
North America emerged dominant in the immunodiagnostics market in 2017. Rising investment towards research and development to find novel therapeutics and diagnosis methods for the treatment of aforementioned diseases is creating growth opportunities for the market in North America.
Market Segmentation By Geography:
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Furthermore, government support towards these initiatives will augur well for the overall market. Asia Pacific also held a significant share in the global market. The Asia Pacific immunodiagnostics market was worth US$ 3939.1 Mn in 2017. The region is forecasted to progress at a higher CAGR. Moreover, high potential for increasing penetration of immunodiagnostics in Asia Pacific will enable growth in the regional market.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• F. Hoffmann-La Roche AG (Roche Diagnostics)
• Danaher Corporation
• Thermo Fisher Scientific
• Quest Diagnostics
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“Strong Supply Chain Network to Facilitate Market Players”
Abbott, Roche Diagnostics, Danaher Corporation, and DiaSorin are among the leading players in the market. Growth witnessed by these organizations is facilitated by the presence of robust supply chain network and their diverse product portfolio.
Besides this, increasing investment in research and development activities and cost management by market players is helping organizations to gain higher share in the global market. Some of the other organizations operating in the immunodiagnostics market are QIAGEN, bioMérieux, Quest Diagnostics, and Thermo Fisher Scientific.
Table of Contents:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Technological Advancements
4.2 Key Industry Developments – Mergers, Acquisitions and Partnerships
4.3 Reimbursement Scenario
4.4 Key Performance Indicators for Global Immunodiagnostics Market
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