According to the report published by Allied Market Research, the global immunoprotein diagnostic testing market generated $17.74 billion in 2017, and is estimated to generate $27.29 billion by 2023, growing at a CAGR of 7.4% from 2017 to 2023. The report provides an extensive analysis of market dynamics, top investment pockets, market size & projections, major segments, and competitive landscape.
Increase in incidence of cancer & cardiovascular diseases, surge in healthcare expenditure, and enhancements in healthcare insurance scenario are factors responsible to drive the market growth during the forecast period. However, the scarcity of skilled healthcare professionals and lack of awareness limit the market growth.
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The chemiluminescence assay (CLIA) segment is estimated to grow at the highest growth rate of 7.6% during the forecast period. This is due to the potential adoption of CLIA as this technology offers rapid and error-free results. However, the enzyme-based immunoassay (ELISA) segment held the largest share of nearly one-third of 2017 and is estimated to contribute its highest share through 2023. The report also discusses radioimmunoassay, immunofluorescence assay, immunoprotein electrophoresis, immunoturbidity assay, and others segments.
Among applications, the infectious disease testing segment held nearly one-fourth of the total share in terms of revenue in 2017, owing to rise in incidence of infectious diseases across the world. However, the oncology testing segment is estimated to grow at the fastest CAGR of 7.8% throughout the forecast period, owing to considerable increase in different types of cancer cases throughout the world including colorectal cancer, lung cancer, and others. The research also analyzes allergy testing, autoimmune testing, toxicology testing, endocrine testing, among others.
Based on region, North America held the largest share with nearly two-fifths of the market share in 2017, and is estimated to maintain its highest position during the forecast period. This is owing to the presence of leading manufacturers of diagnostic products, surge in adoption of efficient and advanced diagnostic products, and heavy inflow of investment in proteomics research & drug development. On the other hand, Asia-Pacific would register the highest CAGR of 8.8% from 2017 to 2023, owing to surge in adoption of point-of-care technology, rapid growth of geriatric population, and increase in incidence of chronic diseases. The regions analyzed in the research are Europe and Latin America, Middle East, and Africa (LAMEA).
The leading market players discussed in the research include Abbott Laboratories, Bio-Rad Laboratories, Abcam PLC, Diasorin, Danaher Corporation, Ortho Clinical Diagnostics, Enzo Life Sciences, Siemens Healthcare, Roche Diagnostics, and Thermo Fisher Scientific.
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