Global Immunoassay Market Size by Type, End User, Application and Region – Segment-Level Market Assessment, Growth Opportunity Analysis, Competitive Mapping & Forecast to 2030
Overview
Immunoassay Market was valued at USD 30.42 Bn. in 2023 and is expected to reach USD 47.49 Bn. at a CAGR of 6.57% during the forecast period 2024-3030.
Immunoassay Market Introduction and Overview:
Immunoassays are bio analytical methods in which the quantitation of the analyte depends on the reaction of an antigen and an antibody. Immunoassays have been widely used in many important areas of pharmaceutical analysis such as diagnosis of diseases, therapeutic drug monitoring, clinical pharmacokinetics and bioequivalence studies in drug discovery and pharmaceutical industries. The importance and widespread of immunoassay methods in the pharmaceutical analysis are attributed to their inherent specificity, high-throughput, and high sensitivity for the analysis of the wide range of analytes in biological samples. Recent improvements are achieved in the field of immunoassay development for the purposes of pharmaceutical analysis.
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The prevalence and incidence of cancer cases are dramatically increasing globally, thus the application of immunoassay for early diagnosis and monitoring of cancer is growing gradually. According to American Cancer Society, lung cancer is one of the most common forms of cancer. In 2022, nearly 2.09 million people across the globe were living with lung cancer, and according to the WHO, this number is increase by 2.27 million in 2022. Immunoassays have been one of the fast-growing clinical diagnostics technologies over the years. The technological advancements in immunoassays driven by the need for early detection of diseases have supported their adoption over the years, and hence have supported the immunoassay market growth.Important advances have been made in the design of immunochemical approaches that allow small molecules, such as drugs, metabolites, and toxins, to substitute dynamic format assays with non-competitive formats, bringing advantages are previously seen only with large molecular analytes.
The report has profiled fifteen key players in the market from different regions. However, report has considered all market leaders, followers and new entrants with investors while analysing the market and estimation the size of the same. The growing healthcare infrastructure in each region is different and focus is given on availability of advanced technology and new techniques
The report contains detailed analysis of Strengths, Weakness and opportunities of the key players operating in the Immunoassy Market. It also provides information on current market trends, competitive ranking analysis, regional bifurcation, turnover forecasts, industry drivers and the key challenges.
Immunoassay Market Segment Analysis
Based on Type, Radio immunoassays have wide applications in cancer detection, blood screening for hepatitis, diagnosis of ulcers, and narcotics detection. These assays are capable of the quantification of very small concentrations of antigens from small volumes of samples with the help of radioisotopes, such as iodine-125 and iodine-131. The growth in this immunoassay market is primarily driven by the increasing prevalence of cancer across the globe and the resultant increase in suitable diagnostic technologies. However, these assays are relatively high-cost assays and have potential health hazards owing to the use of radioactive antigens. This, along with additional expenses towards maintaining radiation safety and disposal protocols limit their wide-scale use. Owing to these, radioimmunoassay is increasingly being replaced by EIAs and CLIAs, which is expected to hamper the growth of the radioimmunoassay market over the coming years.
Endocrine disorders have shown significant growth in recent years. Healthcare providers have started using immunoassay machines for the same. The endocrinology segment is expected to grow at a CAGR of 6.5% by 2029. Endocrinology tests have a wide range of applications, which include immunoassay analyzer testing, anti-TSH receptors testing, fertility testing, and women’s health testing. Such widespread applications are helping the segment expand at a faster pace, thereby growing the market.
Regional Analysis
The immunoassay market of North America is expected to dominate the market accounting for nearly 40% of the total market share and registering a CAGR of 6.0% in the forecast period. Growing mergers & acquisitions are observed among in-vitro diagnostic and life sciences players in North America. This is anticipated to largely propel the region’s growth in the future. Key market players are strengthening their product portfolio by venturing into various medical specialty domains.
Asia-Pacific is expected to emerge as the fastest-growing region, at a CAGR of 7.0% in the forecast period. This growth is attributed to the high prevalence and incidence rate of chronic and infectious diseases, which has increased per capita healthcare expenditure. Additionally, intensifying competition among diagnostic laboratories and hospitals and subsequent differentiation of products is expected to leverage demand for high-quality immunoassay analyzers, reagents and kits in the Asia-Pacific market.
Immunoassay Industry Ecosystem
Immunoassay Market Scope : Inquire before Buying
| Global Immunoassay Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 30.42 Bn |
| Forecast Period 2024 to 2030 CAGR: | 6.57% | Market Size in 2030: | USD 47.49 Bn |
| Segments Covered: | by Type | Radioimmunoassay (RIA) Enzyme Immunoassays (EIA) Fluoroimmnoassay (FIA) Chemiluminescence Immunoassay (CLIA) Others |
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| by Application | Disease Diagnosis Therapeutic Drug Monitoring Drug Discovery Clinical Chemistry Hematology Others |
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| by End Users | Hospitals Pharma & Biotech Companies Clinical Laboratories Others |
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Immunoassay Market ,by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key players
1. Siemens Healthineers
2. Becton
3. Dickinson & Company
4. BioMérieux
5. Abbott laboratories
6. Roche Diagnostics
7. Danaher Corporation
8. Ortho Clinical Diagnostics
9. Sysmex Corporation
10. Thermo Fisher Scientific, Inc.
11. Quidel Corporation
12. Agilent Technologies
13. PerkinElmer
14. Mindray
15. DiaSorin
Frequently Asked Questions:
1. Which region has the largest share in the Global Immunoassay Market?
Ans: North America held the largest market share in 2023 in the global immunoassay market.
2. What is the growth rate of Global Immunoassay Market?
Ans: The Global Immunoassay Market is growing at a CAGR of 6.57% during the forecasting period 2024-2030.
3. What is the scope of the Global Immunoassay market report?
Ans: The Global Immunoassay Market report helps with the PESTEL, PORTER, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in the Global Immunoassay market?
Ans: The important key players in the Global Immunoassay Market are – Siemens Healthineers, Becton, Dickinson & Company, BioMérieux, Abbott Laboratories, Roche Diagnostics, Danaher Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Thermo Fisher Scientific, Inc., Quidel Corporation, Agilent Technologies, PerkinElmer, Mindray, and DiaSorin.
5. What is the forecasting period of the global immunoassay market market?
Ans: The Global Immunoassay Market is studied from 2023 to 2030.