Immunoassay Interference Blocker Market is likely to Expand at a CAGR of ~ 7% During 2019-2029 - PMR
NEW YORK, July 22, 2019 /PRNewswire/ -- The rapidly increasing prevalence of chronic diseases and the growth of the aging population across the world are among factors that are expected to increase the need for biochemical testing for the management of chronic diseases. The global increase in aging population is expected to increase the demand for diagnostic kits and reagents for the detection of age-related as well as other chronic conditions, which is expected to boost the immunoassay interference blocker market.
According to latest research by PMR, the global immunoassay interference blocker market is estimated to have accounted for ~ US$ 200.0 Mn in terms of value in 2018. The report on the immunoassay interference blocker market further projects that the immunoassay interference blocker market is likely to expand at a CAGR of ~ 7% during the period 2019-2029.
Highly Dynamic Competition in the Global Landscape
The immunoassay interference blocker market is expanding in tandem with the growth of technology. Companies are channelizing efforts to maximize productivity, flexibility, and throughput capabilities, as well as redefine the productivity of their staff. Increase in product consolidation activities, which include sales and service agreements, collaborations, rising research & development activities, new product launches, joint ventures, partnerships, patent transfers, and mergers & acquisitions among global and regional players, are among the characteristics of the overall competition in the global immunoassay interference blocker market.
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The number of organizations involved in the immunoassay interference blocker market has increased during the past few years. The market of immunoassay interference blockers has been based on established NAT technologies and immunoassays. Although the NAT market continues to be managed by Roche, Thermo Fisher Scientific, and Bio-Rad Laboratories, Inc., many other biotechnology corporations have recently acquired significant IP property in this area.
The antibody interference blockers segment is a prominent revenue segment by product type in the immunoassay interference blocker market, which accounted for a revenue share of ~ 55.0% 2018. The antibody interference blockers segment is followed by the detection interference blockers that also generated significant revenue in the immunoassay interference blocker market.
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North America Accounts for 30% Shares in Revenues
Among all the end-use segments of the immunoassay interference blocker market, the academic and research institutes segment is projected to be leading segment, followed by the biotechnology companies segment. Academic and research institutes, followed by biotechnology companies, has emerged as a prominent consumer base, characterized by untapped product segments for immunoassay interference blocker to obtain high performance quality of immunoassay. This has encouraged the manufacturers of immunoassay interference blockers to capitalize on emerging latent opportunities. Companies are optimistic with regards to increasing molecular diagnosis and growth in the demand for immunoassay-based diagnostic products around the world, especially in North American countries.
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North America, followed by Europe and East Asia, is a leading region in the global immunoassay interference blocker market. The North America immunoassay interference blocker market accounted for a revenue share of ~ 30.0% in 2018. It was followed by the Europe market, which registered a significant revenue share and is estimated to register a CAGR of ~ 6.0% during the forecast period. Europe was followed by the East Asia and South Asia immunoassay interference blocker markets. Brazil, India, and China are among the emerging markets in the immunoassay interference blocker market. India is likely to be the fast-growing market in the global immunoassay interference blocker market, and is projected to grow at a CAGR of ~ 7.0% during the forecast period of 2019-2029.
The immunoassay interference blocker market report tracks some of the key companies operating in the immunoassay interference blocker market, such as Abcam plc, AMS Biotechnology (Europe) Limited, Aviva Systems Biology Corporation, Bio-Rad Laboratories, Inc., Meridian Bioscience, Inc., Roche Diagnostics GmbH, Rockland Immunochemicals, Inc., Scantibodies Laboratory, Inc., Thermo Fisher Scientific, and others. Majority of the domestic key players in the immunoassay interference blocker market are focused on expanding their product reach and enhancing their connectivity with the regional distributors of immunoassay interference blockers. The manufacturers of immunoassay interference blockers are expanding their business in opportunistic markets, which include India, Brazil, and China by expanding their sales channels across these countries.
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