Chemiluminescence Immunoassay Market Size to Reach US$ 10.6 Bn by 2027

The global chemiluminescence immunoassay market size is predicted to reach valuation of around US$ 10.6 billion by 2027 and poised to grow at a CAGR of around 7.6% from 2022 to 2027.

 Growth Factors

The chemiluminescence immunoassay (CLIA) solutions are extensively used in the diagnosis and detection of various chronic diseases such as cancer, diabetes, cardiovascular diseases, infectious diseases, and autoimmune diseases. The CLIA have applications in the therapeutic drug monitoring in the research institutes and the pharmaceutical industry. The increasing awareness among the population regarding the benefits of early detection of diseases and the growing investments by the pharmaceutical companies in the research and development of new drugs are the primary factors that drives the growth of the global chemiluminescence immunoassay market. The growing burden of various diseases among the global population will spur the demand for the chemiluminescence immunoassay. According to the International Diabetes Federation, around 537 million adults are living with diabetes and this number is projected to reach 783 million by 2045.

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Future of Chemiluminescence Immunoassay Market

The ongoing research and developmental activities pertaining to the chemiluminescence immunoassay is expected to present a lucrative growth opportunity to the market players. For instance, as per an article published in the Frontiers in Microbiology in January 2021, the researchers at the Kanagawa Cardiovascular & Respiratory Center and Yokohama City University Hospital has developed an automated chemiluminescence immunoassay system with the help of Japan Agency for Medical Research and Development, which can measure the anti-COVID-19 antibodies quantitatively.

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Report Highlights:

• Based on the product, the consumables segment constituted over 70% of the revenue in the global chemiluminescence immunoassay market in 2019. This growth is accredited to the extensive usage of the consumables like stains and reagents during diagnosis of disease, therapeutic drug monitoring, and endocrinology.

• On the basis of application, the oncology is expected to be the fastest-growing segment during the forecast period. This is attributed to the rapidly growing cases of different types of cancer across the globe. As per the GLOBOCAN, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the globe, in 2020. The new cancer cases are expected to rise by 47% from 2020 to 2040, globally.

• Based on the end user, the hospitals segment acquired a market share of over 35% and dominated the global chemiluminescence immunoassay market in 2019. The growing demand for the chemiluminescence immunoassay in the hospitals coupled with the rising burden of diseases and growing demand for the diagnosis across the globe. The patients’ first preference for the diagnosis and treatment is hospital and hence the growth of this segment is accredited to the increased penetration of the hospitals across the globe.

• North America dominated the global chemiluminescence immunoassay market in 2019. The huge demand for the diagnosis of diseases owing to the presence of huge geraiatric population, increased healthcare expenditure, increased prevalence of non-communicable diseases, and presence of developed healthcare infrastructure are the major factors that has augmented the growth of the chemiluminescence immunoassay market in North America. It is estimated that around 60% of the population in US is suffering from one or more chronic diseases. Furthermore, the geriatric population in US is expected to reach around 95 million by 2050. Furthermore, the healthcare expenditure contributes around 18% to the US GDP. All these factors have supported the growth of the North America chemiluminescence immunoassay market.

• Asia Pacific is expected to exhibit highest growth rate during the forecast period. Asia Pacific is witnessing a surge in the patients’ pool. The presence of huge population and the rapidly growing geriatric population is expected to augment the growth of the chemiluminescence immunoassay market. The rising investments towards the development of healthcare infrastructure, rising disposable income, improved access to healthcare facilities, and rising awareness regarding the benefits of early detection of diseases are altogether boosting the growth of the Asia Pacific chemiluminescence immunoassay market.

COVID-19 Impact Analysis:

• The COVID-19 pandemic positively impacted the growth of the chemiluminescence immunoassay market. The chemiluminescence immunoassay was helpful in the development of the diagnostic devices for the detection of COVID-19.

Key Developments in the Marketplace:

• In May 2019, Inova Diagnostics acquired the 510(K) clearance from the US FDA for its QUANTA Flash Rheumatoid Factor IgM chemiluminescent assays and QUANTA Flash RF IgA.
• In August 2018, Mindray Medical International Limited introduced CL900i, which is a fully automated chemiluminescence immunoassay.
• In October 2020, DiaSorin received EUA from FDA for its new product LIAISON SARS-CoV-2 IgM test.

Key Players

• Abbott Laboratories
• Hoffmann-La Roche AG
• Siemens Healthineers
• Beckman Coulter Inc.
• DiaSorin S.p.A.
• Ortho Clinical Diagnostics
• Maccura Biotechnology Co., Ltd
• Immunodiagnostic Systems
• Inova Diagnostics, Inc.
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• Others

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