The global Immunoassay Market is valued at USD 29438.72 Million in 2022 and is projected to reach a value of USD 47993.78 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 6.3% between 2023 and 2030.
The global Immunoassay market has witnessed remarkable growth in recent years, driven by advancements in technology, rising demand for early disease detection, and the ever-increasing prevalence of chronic and infectious diseases. Immunoassays play a crucial role in diagnosing various conditions by measuring the concentration of specific analytes in biological samples. This article delves into the current state of the Immunoassay market, its growth drivers, and the impact of the COVID-19 pandemic.
Immunoassay Market Size, 2022 To 2030 (USD Million)
The Immunoassay market has experienced steady expansion, with a projected value of USD 47.78 Million by 2030, exhibiting a CAGR of 6.30% during the forecast period. The market is segmented into several categories, including reagents and kits, analyzers, software, and services, catering to diverse applications such as infectious diseases, oncology, endocrinology, and cardiology.
The COVID-19 pandemic significantly influenced the global Immunoassay market. The urgent need for accurate and rapid diagnostic tests propelled the demand for Immunoassays, particularly for detecting SARS-CoV-2 antibodies and antigens. Immunoassays played a vital role in screening, diagnosing, and monitoring COVID-19 cases, contributing to the market's growth. Additionally, the development of point-of-care Immunoassay devices enabled quick testing and facilitated mass screening efforts during the pandemic.
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The rapidly rising prevalence of chronic and infectious diseases, such as cancer, cardiovascular disorders, diabetes, and infectious diseases like HIV/AIDS, drives the demand for Immunoassay-based diagnostics. Early disease detection, monitoring, and personalized treatment options offered by Immunoassays have become instrumental in improving patient outcomes.
Continuous advancements in Immunoassay technologies, including chemiluminescence Immunoassays, enzyme-linked immunosorbent assays (ELISA), and multiplex assays, have enhanced diagnostic tests' accuracy, sensitivity, and specificity. Integrating automation, robotics, and artificial intelligence (AI) in Immunoassay systems has streamlined workflows and improved efficiency.
The aging global population is prone to chronic diseases, increasing the demand for diagnostic tests. Immunoassays are widely used in geriatric care for diagnosing age-related conditions, including cardiovascular disorders, neurodegenerative diseases, and autoimmune disorders.
The trend towards decentralized healthcare and the need for rapid results have fueled the adoption of point-of-care Immunoassay testing. These portable devices enable real-time diagnostics and are particularly valuable in resource-limited settings, remote locations, and emergency situations.
The biopharmaceutical industry relies heavily on Immunoassays for drug development, clinical trials, and quality control. The increasing number of biopharmaceutical companies and their research activities contribute to the growth of the Immunoassay market.
Overall, the global Immunoassay market continues to witness substantial growth, driven by increasing disease burden, technological advancements, the aging population, and the expansion of the biopharmaceutical industry. The COVID-19 pandemic further boosted the demand for Immunoassay diagnostics, highlighting their critical role in combating infectious diseases. As the market evolves, further advancements in Immunoassay technologies, the development of novel biomarkers, and the integration of AI and robotics are expected to shape the future of this dynamic industry.
The Russia-Ukraine conflict has hurt global financial markets. Fighting has disrupted global supply networks, raising food and gas prices and worrying many people about the future. These anxieties raised prices, slowing economic activity. This conflict has devastated Europe due to its energy dependence on Russia. Russia has struggled to sell oil due to EU sanctions. Energy price hikes have decreased consumer spending, raising European inflation.
Top Market Trends
The global Immunoassay market is set to witness substantial growth throughout the upcoming years due to numerous factors, such as increasing healthcare expenditure, the rising prevalence of chronic diseases, and growing technological advancements.
1. Rising prevalence of chronic diseases: The increasing prevalence of chronic diseases globally is one of the major market trends driving the growth of the Immunoassay market. Chronic diseases, including cancer, cardiovascular diseases, and autoimmune disorders, require accurate diagnosis and monitoring, which can be effectively achieved through Immunoassays.
2. Increasing demand for point-of-care testing: Point-of-care testing is becoming increasingly popular as it enables rapid diagnosis and treatment of patients. Immunoassays are popular for point-of-care testing as they offer high accuracy and sensitivity in detecting various diseases.
3. Technological advancements and innovations: Technological advancements in Immunoassay technology enable the development of highly sensitive and specific assays, which are key to accurate diagnosis and patient care. Immunoassays are also being developed for new applications, such as therapeutic monitoring and drug discovery, which is driving further growth in the market.
4. Growing demand for personalized medicine: With the rise in precision medicine and personalized treatments, there is an increasing demand for highly specific diagnostic tools. Immunoassays can be tailored to detect specific biomarkers, making them ideal for use in personalized medicine.
5. Increasing healthcare expenditure: Governments and healthcare organizations globally are increasing their expenditure on healthcare, which is driving growth in the Immunoassay market. This investment enables the development and implementation of advanced diagnostic tools, including Immunoassays, to effectively manage diseases.
6. Emerging economies driving market growth: Emerging economies are becoming key drivers of market growth in the Immunoassay market due to their increasing healthcare expenditure and growing population. The rising prevalence of long-term diseases in these regions also drives the demand for accurate diagnostic tools.
The global Immunoassay market is poised to experience significant growth in the upcoming years thanks to various factors, including the rising prevalence of chronic diseases, increasing demand for point-of-care testing, technological advancements, growing demand for personalized medicine, increasing healthcare expenditure, and emerging economies driving the market growth. These market trends provide significant opportunities for Immunoassay companies to expand their product offerings and increase their market share.
The global Immunoassay market can be segmented based on Product Type, Technology, Applications, and Region. Based on the Product Type, the market is further divided into Kits & Reagents, Analyzers, and Software & Services. Furthermore, based on Technology, the market can be segmented into Chemiluminescence Immunoassays, Radio Immunoassays, Enzyme-Linked Immunosorbent Assays, Fluorescence Immunoassays, and Other Technologies. Likewise, based on Application, the market is segmented into Oncology, Infectious Diseases, Cardiology, Endocrinology, Autoimmune Diseases, and Other Applications. Finally, based on Region, the market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
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Based on Product Type
Kits and Reagents to Hold the Maximum Market Share Due to Increasing Incidence of Chronic Diseases
In 2022, the kits and reagents segment dominated the market due to the ever-increasing prevalence of chronic diseases, including cancer, diabetes, and cardiovascular diseases. Immunoassay kits and reagents are widely used in diagnostic laboratories to diagnose and monitor various diseases. Moreover, the growing number of research and development activities in the field of Immunoassay is also driving the segment’s growth. Analyzers and software & services are also gaining traction in the market due to the latest technological advancements, resulting in faster and more accurate results.
Based on Technology
Chemiluminescence Immunoassays to See Significant Growth Owing to High Sensitivity and Specificity
Chemiluminescence Immunoassay (CLIA) is expected to grow significantly during the study period due to its high sensitivity, specificity, and efficiency. CLIA technology has many applications in clinical diagnosis, drug discovery, and environmental analysis. Additionally, the growing incidence of chronic diseases and the increasing use of Immunoassays in drug development, and monitoring are driving the growth of this segment. The other Immunoassay technologies, such as Radio Immunoassay (RIA), Enzyme-Linked Immunosorbent Assays (ELISA), and Fluorescence Immunoassay (FIA), are also expected to see healthy growth during the forecast period.
Based on Application
Infectious Diseases to Lead the Global Sales Due to the COVID-19 Outbreak
In 2022 the infectious diseases segment dominated the market due to the COVID-19 outbreak. The emergence of new contagious diseases and the increasing prevalence of TB, HIV, Hepatitis, and other contagious diseases are driving the growth of this segment. Additionally, the rising demand for point-of-care testing and the increasing use of Immunoassays in clinical diagnostics contribute to the segment’s growth. The oncology segment is also expected to see significant growth owing to the growing incidence of cancer cases worldwide.
Based on Region
North America to Dominate the Market owning to High Healthcare Expenditure and Technological Advancements
In 2022, North America dominated the market due to the high healthcare expenditure, increasing prevalence of chronic diseases, and technological advancements. Moreover, the region has a well-established healthcare infrastructure and favorable reimbursement policies, which drive the market’s growth. The market in the Asia Pacific is also poised to witness significant growth during this period owing to the increasing incidence of chronic and acute diseases and the growing healthcare expenditure in the region. Additionally, the increasing demand for point-of-care testing and the rising initiatives by governments to develop the healthcare infrastructure is also driving the market growth in the region.
The global Immunoassay market is highly competitive, characterized by the significant presence of many market players operating on a global and regional scale. Key players in this market focus on product innovations, strategic collaborations, mergers and acquisitions, and capacity expansions to sustain their market position. In January 2022, Thermo Fisher Scientific acquired Mesa Biotech, a point-of-care molecular diagnostic company, to expand its molecular diagnostics portfolio.
The prominent market players in the global Immunoassay market include – Danaher (U.S.), Thermo Fisher Scientific (U.S.), Abbott Laboratories (U.S.), Roche (Switzerland), Siemens Healthineer (Germany), Quidel (U.S.), DiaSorin (Italy), bioMérieux (France), Bio-Rad Laboratories (U.S.), Ortho Clinical Diagnostics (U.S.), PerkinElmer (U.S.), Becton Dickinson & Company (U.S.), Sysmex (Japan), Agilent Technologies (U.S.), Mindray (China), QIAGEN (Netherlands), Merk KGaA (Germany), Bio-Techne (U.S.), Cellabs (Australia), Abnova Corporation (Taiwan), J. Mitra & Co. Pvt. Ltd. (India), Tosoh Corporation (Japan), Cell Sciences (U.S.), Enzo Biochem Inc.(U.S.), Creative Diagnostics (U.S.), Boster Biological Technology (U.S.), Elabscience Inc. (U.S.), WAK-Chemie Medical GmbH (Germany), Sera Care (U.S.), Epitope Diagnostics Inc. (U.S.), Kamiya Biomedical Company (U.S.) Gyros Protein Technologies (Sweden), among others.
Recent Market Developments
- August 2022: Siemens Healthineers launched Advia Centaur XCell, its latest clinical chemistry and Immunoassay system. The device offers more than 150 unique Immunoassays and clinical laboratory tests.
- July 2022: Bio-Rad Laboratories expanded its product portfolio by introducing its LiquiChip 200 Instrument for multiplex Immunoassay testing. The new instrument increases throughput, improves workflow efficiency, and provides excellent results.
- February 2022: Danaher Corporation's subsidiary, Beckman Coulter, introduced its Access SARS-CoV-2 antigen test for its Immunoassay systems. The new test delivers results in as little as 15 minutes, offering a dual antigen and antibody approach to COVID-19 testing.
Segmentation of the Global Immunoassay Market
- Product (Reagents & Kits, Analyzers, Software, Services)
- Technology (Chemiluminescent Immunoassay, Radio Immunoassay, Enzyme-Linked Immunoassay, Fluorescence Immunoassay, Other Technologies)
- Specimen (Blood, Saliva, Urine, Other Specimens)
- Application (Clinical Diagnostics, Research Applications, Other Applications)
- End User (Hospitals & Diagnostic Laboratories, Research & Academic Institutes, Pharmaceutical & Biotechnology Companies, Contract Research Organizations)
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Danaher (U.S.)
- Thermo Fisher Scientific (U.S.)
- Abbott Laboratories (U.S.)
- Roche (Switzerland)
- Siemens Healthineer (Germany)
- Quidel (U.S.)
- DiaSorin (Italy)
- bioMérieux (France)
- Bio-Rad Laboratories (U.S.)
- Ortho Clinical Diagnostics (U.S.)
- PerkinElmer (U.S.)
- Becton Dickinson & Company (U.S.)
- Sysmex (Japan)
- Agilent Technologies (U.S.)
- Mindray (China)
- QIAGEN (Netherlands)
- Merk KGaA (Germany)
- Bio-Techne (U.S.)
- Cellabs (Australia)
- Abnova Corporation (Taiwan)
- J. Mitra & Co. Pvt. Ltd. (India)
- Tosoh Corporation (Japan)
- Cell Sciences (U.S.)
- Enzo Biochem Inc.(U.S.)
- Creative Diagnostics (U.S.)
- Boster Biological Technology (U.S.)
- Elabscience Inc. (U.S.)
- WAK-Chemie Medical GmbH (Germany)
- Sera Care (U.S.)
- Epitope Diagnostics Inc. (U.S.)
- Kamiya Biomedical Company (U.S.) Gyros Protein Technologies (Sweden)
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attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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