Global Immunoassay Market Report 2022-2027: Importance of Companion Diagnostics, Development of Condition-Specific Biomarkers and Tests, & Integration of Microfluidics in Immunoassays

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Oct 24, 2022, 08:45 ET

DUBLIN, Oct. 24, 2022 /PRNewswire/ -- The "Global Immunoassay Market by Product (Reagents & Kits, Analyzers), Technology (ELISA, Rapid Test, Western Blotting, ELISPOT), Specimen (Blood, Saliva), Application (Infectious Diseases, Oncology), End-user (Hospitals & Clinics), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global immunoassay market is valued at an estimated USD 40.2 billion in 2022 and is projected to reach USD 49.6 billion by 2027, at a CAGR of 4.3%

Market growth is driven by factors such as the increasing incidence of chronic and infectious diseases, advancements in systems and technologies, growth in the biotechnology and biopharmaceutical industries, supportive government policies, increasing adoption of immunoassay-based POC testing and rapid testing, and increasing drug and alcohol abuse and stringent laws mandating drug and alcohol testing.

The reagents & kits to register the largest share of the immunoassay market, by product

The global immunoassay market is segmented into reagents & kits and analyzers based on product. Market growth is largely driven by the large consumption of reagents & kits for various procedures along with the rising volume of immunoassay-based tests performed worldwide.

Rapid Tests segment to grow at a considerable rate among technology during the forecast period

The immunoassay market is segmented into ELISA, rapid tests, ELISpot, western blotting, radio-immunoassays, and other technologies. Rapid tests are used to test donated blood for the detection of HIV, HCV, HBV, and HCG antibodies. Rapid tests are preferred as a preferred method in POC diagnosis, particularly in emergency and primary care settings.

The blood segment accounted to grow at the fastest rate, by specimen, in 2021

Based on specimens, the immunoassay market is segmented into blood, saliva, urine, and other specimens. In 2021, blood specimens is anticipated to witness growth at the highest rate owing to increasing incidence of chronic and infectious diseases and rise in the rate of blood donations.

Infectious diseases segment to register the highest growth rate among applications during the forecast period

The global immunoassay market is segmented into infectious diseases, endocrinology, oncology, bone & mineral disorders, cardiology, blood screening, autoimmune disorders, allergy diagnostics, toxicology, newborn screening, and other applications. The application segment of infectious diseases is anticipated to grow that the highest CAGR during the forecast period, owing to the rise in the number of products being launched for its diagnosis.

Among the end-users, the hospitals & clinics segment anticipated to grow at a significant rate during the forecast period

The rise in the prevalence of chronic and infectious diseases has led to significant growth of the hospitals & clinics end-user segment. The segment is also consider to register highest growth rate during the forecast period.

The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period

The global immunoassay market is segmented into five regions - North America, Europe, the Asia-Pacific, Middle East & Africa, and Latin America. The Asia-Pacific region is expected to witness the highest growth in the immunoassay market during the forecast period. The high growth in this region can primarily be attributed to the increasing geriatric population, and high disease burden of chronic disorders along with developing healthcare infrastructure in Asian countries such as India and China.

Competitive landscape

The prominent players in this market are Danaher Corporation (US), Siemens Healthineers AG (Germany), Abbott Laboratories (US), and F. Hoffmann-La Roche AG (Switzerland).

Premium Insights

Rising Disease Incidence and Technological Advancements - Key Drivers of Market Growth
Reagents & Kits Accounted for Largest Share of North American Market in 2021
China & India to Witness Highest Growth Rates During Forecast Period
APAC to Witness Highest Growth During Forecast Period
Developing Markets to Register Higher Growth During Forecast Period

Market Dynamics

Drivers

Increasing Incidence of Chronic and Infectious Diseases and Growing Awareness About Early Disease Diagnosis
Increasing Use of Immunoassays in Oncology
Immunoassays for COVID-19 and Other Viral Diagnostics
Immunoassays in Drug Detection and Other Diagnostic Applications
Growing Geriatric Population
Advancements in Systems and Technologies
Growth in Biotechnology and Biopharmaceutical Industries
Increasing Adoption of Immunoassay-based POC Testing and Rapid Testing
Supportive Government Policies
Increasing Drug and Alcohol Abuse and Stringent Laws Mandating Drug and Alcohol Testing

Restraints