The demand within the global market for immunoprotein diagnostic testing has gained momentum on account of key developments in the field of medical treatment and diagnostics. Immunoprotein, in essence, refer to blood proteins that play a key role in the functioning of the immune system. They endow immunological activity, and hence, are an important component of the human body. Immunoproteins show an abrupt rise in their concentration in the blood as a result of unhealthy immune functioning of the body. This abnormal rise in their concentration can act as a trustable indicator of several diseases or infections in the body. Several research organizations and laboratories have been engaged in the study of immunoproteins and their potential to act as indicators of diseases. This is expected to propel demand within the global market for immunoprotein diagnostic testing and shall open doors for the inflow of commendable revenues into this market.
The rising geriatric population coupled with an all-time high incidence of chronic diseases has given an impetus to the growth of the global market for immunoprotein diagnostic testing. Moreover, the upswing in demand for immunoprotein diagnostic testing can also be attributed to the prevalence of infectious diseases across the globe. Unhygienic living conditions, especially in the underdeveloped regions, have also led to the occurrence of diseases and infections. This has brought the global market for immunoprotein diagnostic testing under the spotlight of attention.
A report by Transparency Market Research (TMR) on the global market for immunoprotein diagnostic testing builds on the key factors that have supported the growth of the market. The report predicts that the global market for immunoprotein diagnostic testing would reach a value of US$15.3 bn by 2019-end, growing at a stellar CAGR over the forecast period from 2013 to 2019.
Chemiluminescence Technology to Lead Other Segments
On the basis of technology used for immunoprotein diagnostic testing, the demand for chemiluminescence assay has been rising at a robust rate as against other technologies. This can be attributed to the sensitivity, easy usage, and wide application scope of this technology. Furthermore, ELISA technologies are up for a chase for greater market share against the aforementioned segment. The radioimmunoassay segment has been tracing a descending graph of growth due to several regulations imposed by the government on the use of radioactive substances. On the basis of application, immunoprotein diagnostic testing can be segmented into oncology, endocrine testing, testing of infectious diseases, allergy testing, toxicology testing, and autoimmune disease testing. Amongst these, oncology testing through immunoprotein diagnosis has attracted the highest demand over the past decade.
North America to Emerge as Regional Market Leader
The US has witnessed a surge in the incidence of chronic diseases over the past few years, and this has necessitated the presence of a robust diagnostic system across the country. Furthermore, medical practitioners in Canada and the US have been making ardent efforts to ensure that immunoprotein testing is given prime impetus. Owing to these factors, the market for immunoprotein diagnostic testing in North America has been expanding at a robust rate over the past few years. Besides this, the markets for immunoprotein diagnostic testing in Europe, the Middle East and Africa (MEA), Latin America, and Asia Pacific (APAC) are also projected to expand their share in the global market share.
Some of the key players in the global market for immunoprotein diagnostic testing are Abcam PLC, Roche, Diasorin, Abbott Laboratories, Enzo Life Sciences, Randox Laboratories, The Binding Site, and Siemens.