At a CAGR of 7.9%, Immunoassay Market Value Is Projected to Reach USD 41.0 Billion During Forecast Year 2021-2028
Immunoassay is a laboratory diagnostic test used to detect the presence of macromolecules or small molecules in a sample by using antibodies and antigens. It is used to detect the quantity of analyte in serum and urine for clinical purposes.
Growing incidences of chronic diseases such as cancer are predominantly fueling the market growth of immunoassay. According to the World Health Organization, cancer is the second leading cause of death globally and is responsible for an estimated 9.6 million deaths in 2018. Globally, about 1 in 6 deaths is due to cancer. Around 70% of deaths occur from cancer in low- and middle-income countries. The increasing geriatric population is another major factor boosting demand for such healthcare needs as elderly people are more susceptible to chronic diseases such as arthritis, cardiovascular, hypertension, and diabetes disease. The global population aged 60 years or over numbered 962 million in 2017, and by 2050 it is projected to reach 2.1 billion.
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North America is expected to gain significant growth over the forecast period and this is attributed to the presence of well-established healthcare infrastructure coupled with the increasing spending on medical facilities by the government. In 2017, the United States spent about $3.5 trillion, or 18 percent of GDP, on health expenditures – more than twice the average of developed countries. Of that $3.5 trillion, $1.5 trillion, is directly or indirectly financed by the federal government. By 2028, these costs will rise to $2.9 trillion, or 9.7 percent of the economy.
The major players covered in this report:
Roche, Abbott Laboratories, Siemens, Danaher, DiaSorin, Sysmex, BioMerieux, Ortho Clinical Diagnostics, QIAGEN, Thermo Fisher, Becton, Dickinson, Bio-Rad Laboratories, Agilent Technologies, Mindray, Perkinelmer, Quidel, Merck, Bio-Techne.
- In February 2018, TGR BioSciences Pty Ltd (TGR), has announced the launch of its new Multiplexing Immunoassay, CaptSure Multiplex – broadening the application of its globally recognized patented immunoassay technology, CaptSure.
- In November 2019, Euroimmun AG showcased its intelligent automation solutions for processing and evaluation of test systems, such as ELISA, indirect immunofluorescence tests, immunoblots, molecular genetic detection, and chemiluminescence immunoassays, at MEDICA.
- In April 2020, Bio-Rad Laboratories, Inc. a global provider of life science research and clinical diagnostic products, announced that the company is launching a blood-based immunoassay kit to identify antibodies to the coronavirus SARS-CoV-2, the virus associated with COVID-19.
- In May 2018, Sysmex Corporation launched the automated high-sensitive immunoassay system for research applications HI-1000, with the aim of realizing personalized medicine through liquid biopsy. The HI-1000 measures with a high degree of sensitivity minute amounts of proteins contained in the blood and other bodily fluids.
Immunoassay Market Segmentation:
Segmentation By Type:
- Rapid Tests
- Western Blotting
- Other Technologies
Segmentation By Applications:
- Clinical Laboratories
- Blood Banks
- Research & Academic Laboratories
- Other End Users
Regional insights into the Immunoassay market:
In terms of region, this research report covers almost all major regions of the world such as North America, Europe, South America, the Middle East, Africa, and the Asia Pacific. The regions of Europe and North America are expected to show an upward growth in the years to come. While the Immunoassay market in Asia Pacific regions is likely to show substantial growth over the projected period 2021-2028. Cutting-edge technology and innovations are the most important traits of the North American region and this is the reason most of the time that the United States dominates global markets. The Immunoassay market in the South American region is also expected to grow in the near future.
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Answers to key questions in the report:
- What are the latest opportunities for the Immunoassay market in the future?
- What is the key to the Immunoassay Market?
- What is the main factor that takes this market to the next level?
- What will the market demand be and what will the growth be?
- What are the strengths of the main players?
Table of Contents:
Immunoassay Market Report by Company, Regions, Types, and Applications, Global Status and Forecast to 2028
1 Industry Overview of Immunoassay
1.1 Immunoassay Market Overview
1.1.1 Immunoassay Product Scope
1.1.2 Market Status and Outlook
1.2 Global Immunoassay Market Size and Analysis by Regions
1.2.1 North America
1.2.4 Rest of Asia Pacific
1.2.5 Central & South America
1.2.6 Middle East & Africa
1.3 Immunoassay Market by Type
1.3.1 Global Immunoassay Revenue (Million US$) and Growth Comparison by Type (2015-2028)
1.3.2 Global Immunoassay Revenue Market Share by Type in 2020
1.3.4 Rapid Tests
1.3.5 Western Blotting
1.3.8 Other Technologies
1.4 Immunoassay Market by End Users/Application
1.4.2 Clinical Laboratories
1.4.3 Blood Banks
1.4.4 Research & Academic Laboratories
1.4.5 Other End Users
2 Global Immunoassay Competition Analysis by Players
2.1 Global Immunoassay Market Size (Million US$) by Players (2015-2020)
2.2 Competitive Status
2.2.1 Market Concentration Rate
2.2.2 Product/Service Differences
2.2.3 Mergers & Acquisitions, Expansion Plans
3 Company (Top Players) Profiles and Key Data
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services, and Solutions
12 Immunoassay Market Dynamics
12.1 Industry Trends
12.2 Market Drivers
12.3 Market Challenges
12.4 Porters Five Forces Analysis
13 Research Finding /Conclusion
14 Methodology and Data Source
14.1 Methodology/Research Approach
14.1.1 Research Programs/Design
14.1.2 Market Size Estimation
14.1.3 Market Breakdown and Data Triangulation
14.2 Data Source
14.2.1 Secondary Sources
14.2.2 Primary Sources
14.4 Author List
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