Technological Advancements of Immunoassay Products and Market Development
Market growth influenced due to following factors-
- Rising incidence of chronic and infectious diseases,
- Technological advancements of immunoassay products, and their massive adoptions.
- Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market.
Global market size-
According to the new market research report Immunoassay Market is expected to reach $39.0 billion by 2026 from USD 28.4 billion in 2021, at a CAGR of 6.6%.
Leading Players -
The global immunoassay market is consolidated. The prominent players operating in this market include Danaher (US), Thermo Fisher Scientific (US), Abbott Laboratories (US) and Roche (Switzerland).
Based on the product, the immunoassay market is segmented into reagents & kits and analyzers. In 2020, the reagents & kits segment accounted the largest share of the immunoassay market. This segment is also expected to register the highest CAGR during the forecast period. The large share of this segment is attributed to their repetitive purchase and massive consumption for various diagnostic purposes.
Based on technology, immunoassay market is segmented into ELISA, rapid tests, western blotting, radioimmunoassays, ELISPOT and other technologies. ELISA accounted for the largest share of the immunoassay market in 2020. The large share of this segment can be attributed the massive consumption of ELISA in the diagnosis of cancer, infectious diseases, and other chronic complications.
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Geographic Overview -
The immunoassay market is segmented into four major regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America was the largest regional market for immunoassay market in 2020. The large share of the North American market can be attributed to the increasing per capita healthcare expenditure and technologically advanced healthcare infrastructure which makes the regional immunoassay market well established.