Immunoassay Market is Expected to Reach $46.7 Billion | MarketsandMarkets.
Chicago, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Immunoassay market in terms of revenue was estimated to be worth $35.0 billion in 2023 and is poised to reach $46.7 billion by 2028, growing at a CAGR of 5.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The immunoassay market is driven by a rise in the geriatric population and the subsequent increase in the prevalence of chronic medical conditions and increasing adoption of immunoassay-based POC testing and rapid testing.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=436
Immunoassay Market Scope:
Report Coverage | Details |
Market Revenue in 2023 | $35.0 Billion |
Estimated Value by 2028 | $46.7 Billion |
Growth Rate | Poised to grow at a CAGR of 5.9% |
Market Size Available for | 2021–2028 |
Forecast Period | 2023–2028 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product, Technology, Specimen, Application, End User, and Region |
Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunity | Growth opportunities in emerging economies |
Key Market Driver | Growth in the biotechnology and biopharmaceutical industries |
According to the World Population Ageing 2019 report by the UN Department of Economic and Social Affairs, the global geriatric population in 2019 was estimated at 703 million; this is expected to reach 1.5 billion in 2050. Some countries are expected to show a more rapid increase in the proportion of the geriatric population—in Japan, 30% of the population is above 60 years of age. China, Chile, Russia, and Iran all have similar proportions. According to the 2020 National Commission of India on the Indian Population report, it was estimated that in India, there will be over 138 million individuals aged 60 years and above in 2021.
Based on products, the immunoassay market is segmented into reagents & kits and analyzers. Reagents & kits accounted for the largest share of the market in 2022. The large share of this product segment can primarily be attributed to repeat purchases and consumption of reagents & kits for diagnostic procedures as compared to the immunoassay analyzers, which have a longer shelf time and can be used for multiple procedures.
The immunoassay market is segmented based on technology into ELISA, CLIA, IFA, rapid tests, ELISpot, western blotting, and other technologies. ELISA accounted for the largest share of the immunoassay market in 2022. The rising preference for the use of ELISA tests for the diagnosis of conditions such as cancer, and infectious diseases is driving the growth of the segment.
Based on specimens, the immunoassay market is segmented into blood, saliva, urine, and other specimens. In 2022, blood specimens accounted for the largest share of the immunoassay market. This segment is also projected to register the highest CAGR during the forecast period, owing to the rise in the number of blood donations and the need for appropriate screening of blood prior to transfusion.
Based on applications, the immunoassay market is segmented into cardiology, infectious diseases, endocrinology, blood screening, oncology, bone & mineral disorders, autoimmune disorders, allergy diagnostics, drug monitoring and testing, newborn screening, and other applications. In 2022, the infectious diseases application segment accounted for the largest share of the immunoassay market. The large share of this segment is due to the increasing incidence of infectious diseases.
Based on end user, the immunoassay market is segmented into hospitals & clinics, clinical laboratories, pharmaceutical & biotechnology companies and CROs, blood banks, research & academic laboratories, and home care settings. Hospitals & clinics accounted for largest share of the immunoassay market in 2022. The significant share of the segment is primarily due to the fact that most diagnostic tests are performed in hospitals or hospital-attached laboratories.
The immunoassay market is segmented into five major regions: North America, Europe, the Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, owing to the demand for better healthcare services, and rising prevalence of chronic and infectious diseases.
Buy an Immunoassay Industry Report (394 Pages PDF with Insightful Charts, Tables, and Figures): https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=436
Immunoassay market major players covered in the report, such as:
Abbott Laboratories (US)
F. Hoffmann-La Roche (Switzerland)
Siemens Healthineers (Germany)
Thermo Fisher Scientific (US)
Danaher Corporation (US)
PerkinElmer (US)
Becton, Dickinson and Company (US)
DiaSorin S.p.A. (Italy)
Bio- Rad Laboratories (US)
QuidelOrtho Corporation (US)
bioMérieux (France)
QIAGEN (Netherlands)
Sysmex Corporation (Japan)
Agilent Technologies (US)
Mindray Medical International Company (China)
Merck KGaA (Germany)
Meridian Bioscience (US)
Bio-Techne (US)
Cellabs (Australia)
Abnova Corporation (Taiwan)
J. Mitra & Co. Pvt. Ltd. (India)
Tosoh Corporation (Japan)
Cell Sciences (US)
Enzo Biochem (US)
Creative Diagnostics (US)
Boster Biological Technology (US)
Elabscience (US)
WAK-Chemie Medical (Germany)
Sera Care (US)
Epitope Diagnostics (US)
Kamiya Biomedical Company (US)
Gyros Protein Technologies (Sweden)
Trivitron Healthcare (India)
InBios International (US)
and Among Others
Request for FREE Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=436
This report categorizes the immunoassay market into the following segments and subsegments:
By Product
Reagents & Kits
ELISA Reagents & Kits
CLIA Reagents & Kits
IFA Reagents & Kits
Rapid Test Reagent & Kits
ELISpot Reagent & Kits
Western Blot Reagent & Kits
Other Reagents & Kits
Analyzers
By Type
Open-ended Systems
Closed-ended Systems
By Purchase Mode
Rental Purchase
Outright Purchase
By Technology
ELISA
Chemiluminescence Immunoassay (CLIA)
Immunofluorescence assay (IFA)
Rapid Tests
ELISpot
Western Blotting
Other Technologies
By Specimen
Blood
Saliva
Urine
Other Specimens
By Application
Infectious Diseases
Endocrinology
Oncology
Bone & Mineral Disorders
Cardiology
Blood Screening
Autoimmune Disorders
Allergy Diagnostics
Toxicology
Newborn Screening
Other Applications
By End User
Hospitals & Clinics
Clinical Laboratories
Pharmaceutical & Biotechnology Companies and CROs
Blood Banks
Research & Academic Laboratories
Home Care Settings
By Region
North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Australia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=436
Immunoassay Industry Recent Developments:
In August 2023, Abbott received FDA approval for its Alinity h-series hematology system, enabling laboratories nationwide to run complete blood counts (CBC).
In July 2023, Siemens received FDA clearance and launched its Atellica CI Analyzer for immunoassay and clinical chemistry in the world’s major markets.
In June 2023, DiaSorin launched its CE marked LIAISON B·R·A·H·M·S MR-proADM assay to be used for the diagnosis of conditions, such as kidney diseases, sepsis, septic shock, lower respiratory and urinary tract infections.
In December 2022, QuidelOrtho received approval from Health Canada for use of the Quidel TriageTrue High-Sensitivity Troponin I (hsTnl) Test to aid in the diagnosis of myocardial infarction.
In October 2022, Roche received U.S. FDA granted Emergency Use Authorization (EUA) for its cobas MPXV for use on the cobas 6800/8800 immunoassay Systems.
Key Stakeholders:
Senior Management
End User
Finance/Procurement Department
R&D Department
Report Objectives:
To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
To define, describe, segment, and forecast the immunoassays market by product, technology, specimen, application, and end user, and region
To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall immunoassay market
To forecast the size of the immunoassays market in five main regions along with their respective key countries, namely, North America, Europe, the Asia Pacific Middle East & Africa, and Latin America.
To profile key players in the immunoassays market and comprehensively analyze their core competencies and market shares
To track and analyze competitive developments, such as product launches and approvals; expansions; and partnerships; of the leading players in the immunoassays market
To benchmark players within the immunoassays market using the Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product strategy
Related Reports:
Point of Care Diagnostics Market
Immunofluorescence Assay Market
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/immunoassay-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/immunoassay.asp
CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com
