VANCOUVER, B.C., Jan. 19, 2023 /PRNewswire/ -- The Immunoassay Market size reached USD 39.72 Billion in 2021 and is expected to register a CAGR of 3.9% during the forecast period, according to latest analysis by Emergen Research. Increase in prevalence of chronic diseases, and introduction of technically advanced systems and technologies are some key factors driving dental equipment market revenue growth.
According to the National Diabetes Statistics Report, about 37.3 million individuals in the United States developed diabetes by 2020, with over 96 million adults having pre-diabetes. Furthermore, increased R&D spending by government organizations and pharmaceutical corporations for disorders and diseases such as chronic ailments and diabetes is boosting the global market. According to Pharmaceutical Research and Manufacturers of America, the biopharmaceutical sector would invest an estimated USD 102.3 billion in R&D in 2021.
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Drivers:
Technological advancements in immunoassay techniques are leading to an increase in global demand for immunoassay techniques. Recent product introductions by leading industry competitors are also contributing to market growth. For instance, on May 2022, Abbott announced the launch of the HBsAg Next Qualitative solution in India to improve Hepatitis B viral diagnosis (HBV). This test will aid in the improvement of patient outcomes while ensuring the safety of blood supplies. This extremely sensitive chemiluminescent microparticle immunoassay (CMIA) aids in the detection of HBV in human serum and plasma (blood) samples, as well as population screening. A chemiluminescent immunoassay is a biochemical method used in immunology that differs from the usual enzyme immunoassay. Furthermore, on April 2020, the ErbaLisa COVID-19 ELISA kits for the detection of IgG and IgM antibodies to SARS-CoV-2 have been developed by Erba Mannheim. The tests may be run manually or with any open automated ELISA analyzer, like the Erba Mannheim ELAN 30s.
Restraints:
There are some issues and difficulties facing the immunoassay market. One of the significant factors hindering the growth of the market is specificity and false positive results. The presence of other substances in the sample can interfere with the assay, leading to false positive results. Non-specific binding of the antibodies may bind to substances other than the target analyte and can give inaccurate results. The sensitivity of the technique is also a major issue. The assay may not be sensitive enough to detect low levels of the target analyte.
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Growth Projections:
The Immunoassay Market is expected to register a CAGR of 3.9% over the forecast period and revenue is projected to increase from USD 39.72 Billion in 2021 to USD 55.85 Billion in 2030. Research and development of immunoassay technique are expected to support revenue growth of the market.
Current Trends and Innovations:
The Immunoassay market is undergoing gradual changes during the forecast period. Immunoassays are laboratory tests that use the principle of antigen-antibody interactions to detect and quantify specific substances in a sample. Over the years, immunoassays have undergone significant developments, and some current trends in the field include Point-of-care (POC) testing, multiplexed assays, microfluidics-based assays, biosensors, Artificial intelligence (AI), and Machine Learning (ML). For instance, multiplexed assays allow for the simultaneous detection of multiple analytes in a single sample, which can increase the efficiency of testing and reduce costs. In addition, microfluidic-based immunoassays are becoming more popular in POC testing and in the field of personalized medicine.
Strategic Initiatives:
Major companies included in the market report are Siemens Healthcare GmbH, Biomérieux, Abbott, Becton Dickinson and Company, Beckman Coulter, Inc., Hologic, Inc., Ortho Clinical Diagnostics, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, and Thermo Fisher Scientific.
- On November 2021, at MEDICA 2021, Boditech Med introduced its new automated immunoassay analyzer, AFIAS-10, which features a blood collection tube and all-in-one cartridge system. The AFIAS-10 is a one-of-a-kind, integrated Sample-to-Answer system that can simultaneously perform 10 different tests for various parameters.
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Scope of Research
Report Details | Outcome |
Market Size in 2021 | USD 39.72 Billion |
CAGR (2022-2030) | 3.9 % |
Revenue Forecast to 2030 | USD 55.85 Billion |
Base Year for Estimation | 2021 |
Historical Data | 2019-2020 |
Forecast Period | 2022-2030 |
Quantitative Units | Revenue in USD Billion and CAGR in % from 2022 to 2030 |
Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments Covered | product, technology, application, end-use, and region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
Key Companies Profiled | Siemens Healthcare GmbH, Biomérieux, Abbott, Becton Dickinson and Company, Beckman Coulter, Inc., Hologic, Inc., Ortho Clinical Diagnostics, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., and Thermo Fisher Scientific |
Customization Scope | 10 hours of free customization and expert consultation |
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Emergen Research has segmented Immunoassay on the basis of product, technology, application, end-use, and region:
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Reagents and kits
- Instruments
- Technology Type Cycle Outlook (Revenue, USD Billion; 2019-2030)
- Radioimmunoassay (RIA)
- Enzyme-Linked Immunosorbent Assay (ELISA)
- Rapid Test
- Fluoroimmunoassay (FIA)
- Chemiluminescence immunoassay (CLIA)
- Others
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Therapeutic Drug Monitoring
- Oncology
- Cardiology
- Endocrinology
- Infectious Disease Testing
- Autoimmune Diseases
- Others
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Biotechnology & Pharmaceutical Industries
- Blood Banks
- Clinical Laboratories
- Academic Research Centers
- Others
- Regional Outlook (Revenue, USD Billion, 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
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