Global Immunoassay Market to Witness Growth at a CAGR of ~8% by 2030 | DelveInsight

The surge in the immunoassay market is mainly from the rising occurrence of persistent conditions like cancer and lifestyle-related ailments such as diabetes mellitus. Notably, the uptick in different types of cancer, including breast and prostate cancer, plays a pivotal role in driving market growth. Additionally, heightened awareness about early disease detection among individuals is further fueling the immunoassay market's expansion throughout the projected period spanning 2024 to 2030.

LAS VEGAS, May 27, 2024 /PRNewswire/ -- DelveInsight's Immunoassay Market Insights report provides the current and forecast market analysis, individual leading immunoassay companies' market shares, challenges, immunoassay market drivers, barriers, trends, and key market immunoassay companies in the market.

Key Takeaways from the Immunoassay Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global immunoassay market during the forecast period. 
• Notable immunoassay companies such as Beckman Coulter, Inc., Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd., Abbott Laboratories, Thermofisher Scientific, ALPCO, Autobio, PHC Corporation, Trivitorn Healthcare, Werfen, Danaher Corporation, Sysmex Corporation, Awareness Technology Inc, ZECEN Biotech Co., Quidel Corporation, and several others, are currently operating in the immunoassay market.
• In August 2023, Fapon Biotech launched its latest chemiluminescence immunoassay analyzer. The Shine i8000/9000 consists of innovative features and has an ultra-high throughput of 900 tests per hour.
• In November 2022, Gethin Biotech introduced the new MAGICAL 6000 chemiluminescence immunoassay Analyzer at MEDICA.
• In April 2021, Snibe, Diagnostic received CE marking for the Maglumi HIV Ab/Ag Combi CLIA kit which detects HIV-1 and HIV-2 antibodies and the HIV-1 p24 antigen.

To read more about the latest highlights related to the immunoassay market, get a snapshot of the key highlights entailed in the Global Immunoassay Market Report

Immunoassay Overview

Immunoassay, a cornerstone in medical diagnostics, revolutionizes the detection of various substances within biological samples through the utilization of the immune system's remarkable specificity. This technique harnesses the interaction between antibodies and antigens, enabling the precise identification and quantification of target molecules, such as hormones, proteins, drugs, or infectious agents, in complex biological matrices. Immunoassays encompass a diverse array of methodologies, including enzyme-linked immunosorbent assays (ELISA), radioimmunoassays (RIA), and chemiluminescent immunoassays (CLIA), each offering distinct advantages tailored to specific diagnostic needs. With its sensitivity, specificity, and adaptability, immunoassay has become indispensable in clinical laboratories, pharmaceutical research, environmental monitoring, and beyond, driving advancements in healthcare and scientific discovery.

The versatility of immunoassay extends beyond traditional laboratory settings, finding applications in point-of-care diagnostics, food safety testing, and forensic analysis. Its rapid turnaround time, minimal sample requirements, and ease of automation render immunoassays invaluable tools in screening large populations for diseases, monitoring therapeutic drug levels, and ensuring the safety and quality of consumables. Moreover, ongoing innovations in immunoassay technology continue to enhance its performance characteristics, enabling the detection of ever lower concentrations of analytes with heightened precision. As the demand for accurate, timely, and cost-effective diagnostic solutions persists, immunoassay remains at the forefront, poised to meet the evolving challenges of modern healthcare and scientific inquiry.

Immunoassay Market Insights

In 2023, North America led the Immunoassay market, largely due to prevalent unhealthy lifestyles in the region leading to a significant number of people suffering from lifestyle-related ailments like diabetes and thyroid disorders. Factors such as strong disease awareness, government backing, and a robust product development landscape further bolster this market dominance.

A key driver of the North American immunoassay market is its widespread application in detecting tumor markers indicative of cancer progression. For example, in 2020, the National Cancer Institute reported approximately 1.8 million cancer diagnoses in the United States alone, with specific cancers like prostate, lung, breast, and colorectal being predominant.

Additionally, statistics from the Government of Canada in 2021 reveal cancer as a leading cause of mortality, underlining the pressing need for early disease detection and thus contributing to the immunoassay market's expansion in the region.

Furthermore, the increasing prevalence of chronic conditions such as coronary artery diseases and strokes among the US population is another significant driver. According to the Centers for Disease Control and Prevention, over 18 million adults in the US had coronary artery disease in 2022, with approximately 805,000 experiencing heart attacks annually. These figures underscore the critical role of immunoassay in identifying cardiac markers for diagnosing cardiovascular disorders, thereby fostering immunoassay market growth.

To know more about why North America is leading the market growth in the immunoassay market, get a snapshot of the Immunoassay Market Outlook 

Immunoassay Market Dynamics

The immunoassay market dynamics are continually evolving, driven by advancements in technology, the increasing prevalence of chronic diseases, and the growing demand for accurate diagnostic tools. One of the key factors shaping the immunoassay market is the rising focus on personalized medicine, which necessitates precise and reliable immunoassays for biomarker detection. This trend is fostering the development of innovative immunoassay platforms capable of detecting multiple analytes simultaneously, thereby enabling tailored treatment strategies for patients.

Moreover, the global immunoassay market is influenced by the expanding applications of immunoassays across various sectors, including clinical diagnostics, pharmaceuticals, and biotechnology. As healthcare providers and researchers seek to enhance disease diagnosis and drug development processes, there is a growing demand for high-throughput and sensitive immunoassay techniques. This has led to the emergence of automated immunoassay systems and multiplexing technologies, which offer improved efficiency and cost-effectiveness, driving market growth.

Additionally, factors such as increasing healthcare expenditure, rising awareness about early disease detection, and the adoption of immunoassay-based point-of-care testing are fueling the immunoassay market expansion. Furthermore, the COVID-19 pandemic has underscored the importance of rapid and accurate diagnostic tests, leading to a surge in demand for immunoassays for infectious disease detection. As the healthcare industry continues to prioritize preventive healthcare and precision medicine, the immunoassay market is poised for significant growth and innovation in the coming years.

Get a sneak peek at the immunoassay market dynamics @ Immunoassay Market Dynamics Analysis

Immunoassay Market Assessment

• Immunoassay Market Segmentation
• Immunoassay Market Segmentation By Product: Reagents & Kits and Instruments
• Immunoassay Market Segmentation By Technology: Radioimmunoassay, Enzyme-Linked Immunoassay, Chemiluminescence Immunoassay, Fluoroimmunoassay, and Others
• Immunoassay Market Segmentation By Sample: Blood, Urine, Saliva, and Others
• Immunoassay Market Segmentation By Application: Oncology, Cardiology, Infectious Disease Testing, Endocrinology, Autoimmune Disorders, and Others
• Immunoassay Market Segmentation By End User: Hospitals & Clinics, Diagnostic Labs, Pharmaceuticals & Biotech Industries, and Others
• Immunoassay Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

Which MedTech key players in the immunoassay market are set to emerge as the trendsetter explore @ Immunoassay Companies 

Table of Contents 

Interested in knowing the immunoassay market by 2030? Click to get a snapshot of the Immunoassay Market Trends

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About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance. 

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Shruti Thakur
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SOURCE DelveInsight Business Research, LLP

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