Global Immunoassay Market is expected to grow at a CAGR of 8.40% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Immunoassay Market by Product & Service (Reagents & Kits, Analyzers, Software), Technology, Platform, Specimen, Application, End User, and Region and Global Forecast 2018-2025.
As per the report, the global immunoassay market is expected to grow from USD 20.71 Billion in 2017 to USD 40.29 Billion by 2025 at a CAGR of 8.40% during the forecast period from 2018-2025. North America is expected to dominate the market during the forecast period. Increasing application of immunoassay techniques in cancer research is a major driver of the market. Increasing adoption compact immunoassay instruments in clinical diagnostics and increasing quality of infrastructure for laboratory and clinical research are also fuelling the growth of the market in the region.
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Key players operating in the market are Abbott Laboratories, Siemens, Roche, Sysmex Corporation, Danaher Corporation, bioMérieux, DiaSorin, Ortho Clinical Diagnostics, Bio-Rad Laboratories, Thermo Fisher Scientific, QIAGEN, Becton, Dickinson and Company, Agilent Technologies, Merck, Quidel Corporation, PerkinElmer, Mindray, Bio-Techne Corporation and others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the market. For instance, in September 2017, Meridian Life science Inc. launched TRUBlock Ultra, which is an active immunoassay interference blocker used for the detection of rheumatoid factor (RH), and heterophillic antibodies (HA).
Product and service segment includes reagents & kits, analyzers and software. The reagents & kits segment is dominating the market and was valued around USD 9.94 Billion in 2017. Rising demand for non-invasive diagnostics techniques and growing need of reagents are driving the growth of the segment. Technology segment is classified into ELISA, Rapid Tests, western blotting, ELISPOT, immuno-PCR and other technologies. High sensitivity, cost benefits and long term presence in the market of the ELISPOT is contributing to the growth of the segment. Platform segment is classified into chemiluminescence immunoassays, fluorescence immunoassays, colorimetric immunoassays, radioimmunoassays and other platforms. This growth can be attributed to attribute automation and high-throughput techniques offered by the procedure as compared to others. Application segment is divided into infectious diseases, oncology, endocrinology, cardiology, bone & mineral disorders, hematology & blood screening, autoimmune disorders, neonatal screening, toxicology and other applications. Increasing population prone to infections is rising demand of these assays which in turn is driving the growth of the segment. The end user segment includes hospitals, clinical laboratories, pharmaceutical and biotechnology industries, blood banks, research & academic laboratories and others end users. Rising demand for high-sensitivity test and convenient access, increasing demand for rapid test result.
Rising cases of infectious diseases around the world are driving the growth of the market. In addition, increasing development of various innovative tests for autoimmune diseases and increasing application in drug monitoring tests are positively impacting the growth. Stringent administrative policies may restrict the growth of the market. However, various FDA approved innovative products are further driving the market.
About the report:
The global immunoassay market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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