Global Immunoassay Market: Snapshot
The global immunoassay market is growing at a fast pace in the coming few years, thanks to the rising alcohol and drug testing. The technological developments in this field and the advent of novel automated systems are some of the key factors that are estimated to ensure the development of the immunoassay market over the next few years.
According to the research study, the global market for immunoassay stood at US$ 16.54 Bn in 2017, is anticipated to reach a value of US$ 28.61 Bn by the end of 2026. The market is expected to register a strong 6.20% CAGR between 2018 and 2026.
Technological Developments to Encourage Immunoassay Market in Near Future
A substantial rise in the cases of infectious and chronic disease and the rise in the use of immunoassays in oncology are likely as the main factors that are projected to support the development of the market in the coming years. The rising geriatric population and the technological advancements in this area are estimated to accelerate the growth of the overall market in the next few years. Moreover, the high development in biopharmaceutical and biotechnology industries is another factor that is predicted to create potential growth opportunities over the coming years.
On the flip side, the unfavorable reimbursement environment and the strict rules and regulations concerning the approvals of immunoassay consumables and instruments are estimated to restrict the development of the global immunoassay market in the coming years. In addition to this, the rising complexities in performing diagnostic tests is anticipated to curtail the overall development of the market in the next few years. Nevertheless, the growing opportunities in the developing nations is predicted to ensure the growth of the market in the coming few years.
North America to Experience High Growth in Coming Years
In the last few years, the immunoassay market across North America held a huge share of the market and is likely to remain in the similar position over the next few years. The high number of research projects and the existence of a well-established healthcare infrastructure are projected to accelerate the development of the immunoassay market in North America over the next few years. With rising geriatric population and the development of the biotechnology and pharmaceutical industries are anticipated to accelerate the growth of this region in the coming few years. Also, Asia Pacific is projected to register a promising growth in the coming few years, thanks to the rising number of diagnostic laboratories and hospitals. In addition to this, the rising number of patients is expected to propel the global immunoassay market in the next few years.
The global market for immunoassay is likely to witness a stiff competition among the prominent players that are engaged in the immunoassay market across the globe. The high development of the medical industry and the increasing investments by the players for research activities are projected to ensure the development of the market in the next few years. Moreover, the high number of collaborations and acquisitions is considered as another key factor that is predicted to ensure the market development in the coming years. The leading players in the immunoassay market across the globe are Becton, Dickinson and Company, Ortho Clinical Diagnostics, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Danaher Corporation, Sysmex Corporation, bioMérieux SA, DiaSorin S.p.A., and Siemens Healthineers.
Immunoassay Market – Overview
This report on the immunoassay market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in manufacturing, commercializing, and providing immunoassays and new entrants planning to enter the market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments considered in the scope of the study. This section also provides the overall information and data analysis of the global immunoassay market regarding leading market segments based on technology, product, application, end-user, and region.
The global immunoassay market has been classified based on technology, product, application, end-user, and region. Based on product, the global market has been segmented into chemiluminescence immunoassay (CLIA), enzyme-linked immunoassay (ELISA), enzyme-linked immunofluorescent assay (ELFA), radioimmunoassay (RIA), and others. In terms of product, the market has been categorized into analyzer and consumables. Based on application, the global immunoassay market has been divided into infectious disease, endocrinology, oncology, cardiology, orthopedics, and others. In terms of end-user, the market has been segmented into hospitals and diagnostics laboratories, blood banks, and others.
Each of the market segments have been extensively divided based on market-related factors such as rise in incidence rate and prevalence of acute, chronic, and infectious diseases; technological advancements in health care diagnostics; and emerging trends in the health care, pharmaceutical, and biotechnology industries. Moreover, historical year-on-year growth has been taken into consideration while estimating the market size. The market size and forecast in terms of US$ Mn for each segment has been provided for the period from 2016 to 2026. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2018 to 2026, considering 2017 as the base year.
The market overview section of the report explores market dynamics such as drivers, restraints, opportunities, and key trends that have a strong impact on the immunoassay market and could influence it in the near future. Market attractiveness analysis has been provided in an overview section to explain the intensity of competition in the market across different regions. The competitive scenario among different market players is evaluated through market share analysis in the competitive landscape section of the report. These factors are likely to help market players take strategic decisions to strengthen their positions and expand their shares in the global immunoassay market.
Based on region, the immunoassay market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market size and forecast for each of these regions has been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. The report also provides market size and forecast for major countries with each product and end-user in the respective regions. A detailed qualitative analysis of factors responsible for driving and restraining the market growth and future opportunities has been provided in the market overview section. This section of the report also provides the market attractiveness analysis and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global immunoassay market.
Major players operating in the global Immunoassay market are F. Hoffmann-La Roche AG, Danaher Corporation, Abbott Laboratories, Siemens Healthineers (Siemens AG), Thermo Fisher Scientific Inc., Merck KGaA, Becton, Dickinson and Company, Ortho Clinical Diagnostics (a part of Carlyle Group), bioMérieux SA, Sysmex Corporation, and DiaSorin S.p.A..
The global Immunoassay market is segmented as follows:
Global Immunoassay Market Revenue, by Technology
- Chemiluminescence Immunoassay (CLIA)
- Enzyme-linked Immunoassay (ELISA)
- Enzyme-linked Immunofluorescent Assay (ELFA)
- Radioimmunoassay (RIA)
Global Immunoassay Market Revenue, by Product
Global Immunoassay Market Revenue, by Application
- Infectious Disease
Global Immunoassay Market Revenue, by End-user
- Hospitals and Diagnostics Laboratories
- Blood Banks
Global Immunoassay Market Revenue, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America (LATAM)
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of Middle East & Africa