Immunoprotein Diagnostic Testing Market Worth $18.38 Billion USD by 2027 | 6.6% CAGR
Pune, Maharashtra, India, February 11 2021 (Wiredrelease) Allied Analytics –:Allied Market Research recently published a report, titled, “The global immunoprotein diagnostic testing market was pegged at $10.13 billion in 2019, and projected to reach $18.38 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027.”
Rise in prevalence of cancer & cardiovascular diseases drive the growth of the immunoprotein diagnostic testing market. In addition, rise in healthcare expenditure and improvement in healthcare insurance scenario are expected to fuel the market growth during the study period. However, dearth of skilled healthcare professionals and lack of awareness among the population hamper the market growth.
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Due to lockdown across the globe, there is significant gap in supply and demand. Moreover, the supply chain has been disrupted.
However, the demand for immunoprotein diagnostic testing is increasing as it could be used to diagnose cardiovascular and infectious diseases.
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The growth of the global immunoprotein diagnostic testing market is propelled by increase in incidence & prevalence of infectious and chronic diseases, rise in geriatric population, and growth in demand for early diagnostic services. In addition, technological advancements in immunodiagnostic instruments and introduction of novel automated systems are all set to augment the growth of the immunoprotein diagnostic testing market during the forecast period.
The enzyme-linked immunosorbent assay segment dominated the market
By technology, the enzyme-linked immunosorbent assay segment held the largest share in 2019, accounting for nearly two-thirds of the global immunoprotein diagnostic testing market. Moreover, the segment is expected to portray the highest CAGR of 6.9% during the forecast period, owing to growing use of immunoassays in cancer, POC IVD testing, infectious disease testing, therapeutic drug level monitoring, and the introduction of novel biomarkers.
Conversely, owing to COVID-19 outbreak, trade and transport restrictions, quarantine measures, cross-border movement controls and disruptions in production have interrupted the manufacturing and distribution of diagnostic assays and kits, thereby adversely affecting supply chain activities. However, on account of the pandemic, several pharmaceutical companies have launched immunoprotein diagnostic assays for detecting COVID-19 infection across the world. These newer product launches along with emergency-use authorized approval for immunoprotein diagnostics tests are collectively anticipated to drive the demand for immunoprotein diagnostic testing market in the coming years.
North America held the lion’s share
By region, the market across North America held the largest share in 2019, accounting for around two-fifths of the market, owing to increase in demand for quick diagnostic services to detect chronic diseases, ongoing trend of preventive healthcare, and rise in the number of drug abuse and allergy cases. However, the global immunoprotein diagnostic testing market across Asia-Pacific is projected to portray the highest CAGR of 7.7% during the forecast period, due to increase in the number of patients suffering from chronic diseases and improvement in healthcare facilities in the region.
The oncology testing segment to manifest the highest share
By type, the oncology testing segment is expected to manifest the highest CAGR of 8.0% during the forecast period, due to increasing number of cancer patients worldwide. However, the infectious disease testing segment held the largest share in 2019, contributing to more than one-fifth of the global immunoprotein diagnostic testing market, owing to higher prevalence of infectious diseases such as hepatitis B, hepatitis C, HIV-1, HIV-1/2, and human T-lymphotropic virus types I & II.
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By type, the market is divided into C-reactive protein diagnostic test, complement system protein diagnostic test, pre-albumin diagnostic test, haptoglobin diagnostic test, immunoglobulin diagnostic test, and free light chain diagnostic tests. The immunoglobulin diagnostic test segment held the largest share of 25.48% in 2019, owing to the high adoption of immunoglobulin diagnostic test for the detection of excess or deficiency of immunoglobulin that provides information about the functioning of the immune system.
Major market players
Ortho Clinical Diagnostics
Enzo Life Sciences
Thermo Fisher Scientific
To know more about the report, visit the website at: https://www.alliedmarketresearch.com/immunoprotein-diagnostic-testing-market
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