The Global Immunochemistry Analyzer Industry is poised for remarkable expansion, as per the latest forecast, with a staggering Compound Annual Growth Rate (CAGR) of 16%. This growth is set to catapult the market from US$ 14.2 billion in 2021 to an impressive US$ 72.69 billion by 2032. The prognosis comes on the back of surging demand for immunochemistry analyzers, particularly in diagnosing and identifying microorganism-based illnesses.
In recent years, the world has witnessed unprecedented challenges in healthcare, with the outbreak of various microorganism-based illnesses, ranging from viral infections to bacterial diseases. The need for early, accurate, and efficient diagnosis and identification has become more pressing than ever. This surge in demand for immunochemistry analyzers, driven by the growing need to manage and suppress the incidence of major diseases, is a major catalyst for the anticipated market growth.
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This is propelling the immunochemistry analyzers market forward.
Immunochemistry analyzers run tests on patient samples automatically to detect any number of biologically active substances. Another factor driving immunochemistry analyzer demand is its application in infectious disease testing, cancer, cardiac, and autoimmune diseases.
The rise in demand for improved diagnostic equipment, as well as the rise in automation and integration trends, has resulted in the creation of novel products, which are likely to provide substantial growth opportunities for the immunochemistry analyzers market from 2022 to 2032.
What are the Growth Propellers to the Immunochemistry Analyzer Industry Share?
One of the major factors driving the growth and demand for immunochemistry analyzers is the increased demand for diagnosing and identifying microorganism-based illnesses.
Furthermore, the rapid rise in the need for controlling and suppressing the occurrence of significant diseases, as well as the rising demand for immunochemistry analyzers the incidence of chronic disease conditions such as cancer and autoimmune disorders, are expected to drive growth in the global immunochemistry analyzers market from 2022 to 2032.
Similarly, the increasing elderly population, rapid changes in lifestyle, and increased smoking and drinking habits are expected to drive immunochemistry analyzer market growth.
Furthermore, the increased demand for automated and portable immunochemistry systems is expected to drive the immunochemistry analyzer industry.
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Which Region holds the Highest Growth Potential in the Immunochemistry Analyzer Industry?
North America led the immunochemistry analyzers market with a 38% revenue share, followed by Europe.
The commercial availability of sophisticated technology items and the high adoption rate of these products were primarily responsible for North America’s largest immunochemistry analyzer market share. Furthermore, major players in the country generate revenue for the US.
The Asia Pacific region immunochemistry analyzers market is expected to grow rapidly between 2022 and 2032, at a CAGR of 7.0%. Japan is a leader in technological advancements and the increased use of immunochemistry analyzers for a variety of applications. Furthermore, China is a significant contributor to the growth of the immunochemistry analyzers market.
The region’s thriving medical tourism business is likely to stimulate demand for immunochemistry analyzers in countries such as Japan, China, Malaysia, Thailand, and India. The availability of trained Major pharmaceutical companies are relocating their manufacturing operations to Asia Pacific due to low-cost labour and modern manufacturing infrastructure.
As a result, the region’s constantly expanding number of industrial facilities is propelling the Asia Pacific immunochemistry analyzers market forward.
How is the Competitive Landscape in the Immunochemistry Analyzer Industry?
Siemens, Abbott Diagnostics, Beckman Coulter, Ortho Clinical Diagnostics, Thermo Fisher Scientific Inc., and F. Hoffmann-La Roche Ltd. dominate the immunochemistry analyzer industry.
Mesa Biotech, a private point-of-care molecular diagnostic startup, was purchased by Thermo Fisher Scientific Inc. in February 2021.
In January 2021, Abbott received the CE Mark for their Panbio COVID-19 Ag Rapid Test Device for the asymptomatic detection of the SARS-CoV-2 virus. It is also capable of self-swabbing.
Beckman Coulter, a Danaher (US) company, will launch the Access SARS-CoV-2 Antigen assay, the first high-quality and throughput test for COVID-19 antigen diagnosis, in the United States in December 2020.
Thermo Fisher Scientific will introduce its EliA SARS-CoV-2-Sp1 IgG test and OmniPATH COVID-19 Total Antibody ELISA test for the detection of COVID-19 antibodies in October 2020.
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Key companies profiled
Siemens, Abbott Diagnostics, Beckman Coulter, Ortho Clinical Diagnostics, Thermo Fisher Scientific Inc. and F. Hoffmann-La Roche Ltd.
Customization scope
Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Key Segments
By Product Type:
- Chemiluminescence Immunoassay
- Immunofluorescence Analyzers
- Radioimmunoassay
- Enzyme-Linked Immunoassay
- Consumables and Accessories
By Application:
- Therapeutic Drug Monitoring
- Oncology
- Cardiology
- Allergy Testing
- AIDS
- Endocrinology
- Infectious Disease Testing
- Autoimmune Disease
- Others
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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