According to a recent Growth Plus Reports assessment, the immunoassay market is estimated to reach US$ 63.10 billion by 2031, with a revenue CAGR of 4.25%. The report examines the vital growth strategies, factors and prospects, competitive scenarios, shifting industry trends, market dynamics, data and forecasts, and ideal investment regions.
Key Takeaways:
- Increased prevalence of chronic and infectious diseases will drive market revenue growth.
- North America will register the fastest revenue growth in the global immunoassay market.
- The need for early disease diagnostics will fuel the growth of the market.
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Market Drivers
The growth in the prevalence of chronic and infectious diseases is the major factor driving the revenue growth of the global immunoassay market. Furthermore, increasing demand for early disease diagnostics, advances in immunoassay technology, new product launches, and technological advancements contribute to the market’s revenue growth rate.
Market Segmentation
Growth Plus Reports has analyzed the global immunoassay market from five perspectives: Product, Technology, Specimen, Application, and Region.
Product Segmentation: Based on the product, the global immunoassay market is segmented into reagents & kits, and analyzers. The reagents & kits segment dominates the market because of the rising demand for immunoassay tests and the high demand for reagents & kits to speed up and simplify immunoassay procedures.
Technology Segmentation: Based on the technology, the global immunoassay market is segmented into ELISA, ELIspot, western blotting, radioimmunoassay, rapid tests, and other technologies. The ELISA segment dominates the market because it is commonly used in cancer detection because of its high accuracy, sensitivity, and dependability.
Specimen Segmentation: Based on the specimen, the global immunoassay market is segmented into blood, urine, saliva, and other specimens. The blood segment dominates the market because blood samples are ideal for immunoassay testing because they are easy to acquire and provide useful data for processing.
Application Segmentation: Based on the application, the global immunoassay market is segmented into infectious diseases, oncology, endocrinology, cardiology, blood screening, allergy diagnostics, newborn screening, and other applications. The infectious diseases segment dominates the market because of the rising prevalence of infections and viruses.
Regional Growth Dynamics
Based on the region, the global immunoassay market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to dominate the global immunoassay market with the largest revenue share. The dominance of North America can be attributed to the growth in the prevalence of chronic and infectious diseases, advancements in diagnostics activities, increasing demand for early disease diagnosis, rising R&D in pharmaceutical and research institutes, presence of many top players in the region.
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Competitive Landscape
The prominent players in the global immunoassay market are:
- Siemens Healthineers AG
- BioMérieux SA
- Danaher Corporation (Beckman Coulter)
- Quidel Corporation
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- Becton Dickinson and Company
- F.Hoffman La-Roche AG
- Thermo Fisher Scientific, Inc.
- Abbott Laboratories
The immunoassay market is extremely competitive, with many players involved. Market leaders increasingly use mergers, collaborations, and acquisitions to increase their market share and launch new products.
Recent developments:
- Getein launched the MAGICL 6000 CLIA analyzer at MEDICA 2022 in November 2022. The MAGICL 6000 is a compact and innovative CLIA analyzer ideal for mid to high-workflow laboratories requiring a one-step CLIA solution.
- LumiraDx launched a rapid microfluidic immunoassay HbA1c test in Europe, parts of the Middle East, Asia, Latin America, and Africa in November 2022.
- Roche announced the availability of a high-throughput SARS-CoV-2 antigen test in June 2021 to aid in diagnosing SARS-CoV-2 infections. The Elecsys SARS-CoV-2 Antigen test, performed in a laboratory, has already received CE certification and a CDSCO import license.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL IMMUNOASSAY MARKET – ANALYSIS & FORECAST, BY PRODUCT
- Reagent & Kits
- ELISA Reagents & Kits
- ELISpot Reagents & Kits
- Western Blot Reagent & Kits
- Other Reagents & Kits
- Analyzers
- Closed-Ended Systems
- Open-Ended Systems
- Reagent & Kits
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
CUSTOMIZATION OPTIONS:
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- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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