The Immunochemistry Analyzer Market is poised for a remarkable transformation, fueled by a projected Compound Annual Growth Rate (CAGR) of a staggering 16% from 2021 to 2032. This phenomenal growth trajectory signifies a transformation of the market, expected to surge from a valuation of US$14.2 billion in 2021 to a projected US$72.69 billion by 2032.
The catalyst behind this extraordinary surge lies in the escalating demand for immunochemistry analyzers. In an era dominated by unprecedented challenges in the global healthcare landscape, including the outbreaks of various microorganism-based illnesses, the urgency for early, accurate, and efficient diagnosis has reached unparalleled heights.
The Immunochemistry Analyzer sector, with its cutting-edge technologies and diagnostic capabilities, is playing a pivotal role in meeting this pressing need. As the market prepares for this phenomenal growth, industry experts anticipate a transformative impact on healthcare practices worldwide.
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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 Market 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 for 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.
Which Region Holds the Highest Growth Potential in the Immunochemistry Analyzer Market?
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 Market?
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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Immunochemistry Analyzer Market Key companies profiled
Siemens, Abbott Diagnostics, Beckman Coulter, Ortho Clinical Diagnostics, Thermo Fisher Scientific Inc. and F. Hoffmann-La Roche Ltd.
Immunochemistry Analyzer Market Customization Scope
Free report customization (equivalent to up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.
Immunochemistry Analyzer Market 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 clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in 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)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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