Fact.MR, a market research and competitive intelligence provider: The global Immunoassay market would reach US$ 28 Bn in 2022 and witness a decent CAGR of 6% from 2022 to 2032.
Continuous Innovation backed by increasing Geriatric Population to drive the Immunoassay Market
“Chemiluminescence Immunoassay (CLIA), due to benefits like light absorption or fluorescence detection, is expected to account for 50% of the market share” says a Fact.MR analyst.
Fact.MR, a market research and competitive intelligence provider: The global Immunoassay market would reach US$ 28 Bn in 2022 and witness a decent CAGR of 6% from 2022 to 2032. Fact.MR mentions that with an increasing number of infectious and chronic ailments, the immunoassay market is bound to grow on a reckless note in the forecast period. Along these lines, the global Immunoassay market is projected to reach US$ 3.9 Bn by the year 2032.
The increasing geriatric population is also known for being at a higher risk of infectious and chronic diseases, which bound to revolutionize the immunoassay market in the forecast period.
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Key Takeaways from Market Study
- North America contributes for 35% of the market.
- The Asia-Pacific is expected to hold 34% of the market share.
- Oncogenesis is expected to take the immunoassay market by storm in the forecast period
- Automated laboratory equipment and instruments are the ongoing trend pertaining to immunoassay market and expected to remain the same even in the forthcoming period.
Region-wise Analysis
According to Fact.MR, in 2021, North America had the largest revenue share of 35.0%, and it is expected to continue dominating the market throughout the study period. With nearly two-fifths of the global immunoassay market, the region will remain the market leader. An increase in the incidence of cancer as well as the ease of acquiring technologically advanced diagnostic techniques may be responsible for this rise in demand of this market.
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Immunoassays are used in numerous bioanalytical applications including medical diagnosis, biopharmaceutical analysis, environmental monitoring, and food testing, which is driving the market’s growth. From 2022 to 2032, the global market is forecast to expand 1.8x.
A number of automated laboratory instruments and equipment have been developed as a result of technological advancements. Laboratories benefit from automation because of increased efficiency and reduced space and labor usage. Thus, the market is experiencing substantial growth as some players are offering automated laboratory systems and point-of-care tests that are compact, portable.
Worldwide immunoassay market growth is being fueled by the widespread use of quick tests and point-of-care tests for disease diagnosis and alcohol and drug addiction.
Market Developments
The key participants are stressing on mergers, acquisitions, new product development, and region-wise expansion.
- BioFire Diagnostics (subsidiary of BioMerieux SA), did file for approval to the US FDA in January 2020 to clear its BIOFIRE Blood Culture Identification 2 (BCID2) panel. This panel encompasses expansion of antibiotic resistance genes (more paathogens), and various revised targets in comparison with previously existent BIOFIRE BCID panel.
- Siemens Healthineers, in November 2020, announced about its SARS-CoV-2 IgG Antibody Test getting certified as CE mark measurement of getting the antibodies neutralized. The test comes across as an enhanced version of Covid-19 antibody test launched by it previously.
- Snibe Diagnostics’ 4th generation chemiluminescence immunoassay called “Maglumi HIV Ab/Ag Combi CLIA kit” is capable of detecting HIV-2 and HIV-1 antibodies along with HIV-1 p24 antigen. IT got its CE marking in April 2021, thereby opening the door for selling it in the EU and various other regions.
- Thermo Fisher Scientific, in October 2020, tabled the OmniPATH Covid-19 Total Antibody ELISA test and EliA SARS-CoV-Sp1 IgG test to diagnose Covid-19 antibodies.
- Beckman Coulter, in December 2020, did launch the very first high throughput assay termed as “Access SARS-CoV-2 Antigen” assay in the US to diagnose Covid-19.
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Key Segments Covered in the Immunoassay Market Report
- Immunoassay Market by Technology Type :
- Chemiluminescence Immunoassay (CLIA)
- Enzyme Linked Fluorescence Assay (ELFA)
- Enzyme-linked Immunosorbent Assay (ELISA)
- Radioimmunoassay (RIA)
- Others
- Immunoassay Market by Product :
- Analyzer Immunoassay
- Consumable Immunoassay
- Immunoassay Market by Application :
- Immunoassay for Infectious Diseases
- Immunoassay for Orthopedics
- Immunoassay for Cardiology
- Immunoassay for Oncology
- Immunoassay for Endocrinology
- Immunoassay for Other Applications
- Immunoassay Market by End-User :
- Immunoassay for Blood Banks
- Immunoassay for Hospitals & Diagnostic Laboratories
- Immunoassay for Others (Pharmaceutical & Biotech Companies, Forensic Labs, Academic & Research Institutes, etc.)
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global immunoassay market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by technology type (Chemiluminescence Immunoassay (CLIA), Enzyme Linked Fluorescence Assay (ELFA), Enzyme-linked Immunosorbent Assay (ELISA), Radioimmunoassay (RIA), and likewise)), by product (Analyzer Immunoassay and Consumable Immunoassay), by application (infectious diseases, orthopaedics, cardiology, oncology, endocrinology, and likewise), by end-user (blood banks, hospitals & diagnostic laboratories, and others (pharmaceutical & biotech companies, academic & research institutes, forensic labs, etc.), and by region (North America, LATAM, Europe, East Asia, South Asia & Oceania, and MEA).
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