The global immunoassay market is projected to grow steadily over the next decade, increasing from USD 29.51 billion in 2022 to an estimated USD 45.78 billion by 2032, registering a CAGR of 5% during the forecast period.
Key Growth Factors:
- Advancements in Diagnostic Technologies: Continuous innovation in immunoassay techniques has enhanced the accuracy, sensitivity, and speed of diagnostics.
- Growing Prevalence of Chronic Diseases: Rising incidence of infectious diseases, cancer, and autoimmune disorders is fueling the demand for immunoassays in both clinical and research settings.
- Increased Adoption in Drug Monitoring: Immunoassays are widely used in therapeutic drug monitoring, further driving market growth.
- Expanding Applications: From oncology and cardiology to food safety and environmental testing, immunoassays are being utilized in diverse sectors.
Market Outlook:
The market is poised to benefit from the integration of automation and digital technology in diagnostic laboratories, improving the efficiency and scalability of immunoassay tests. Emerging markets with growing healthcare infrastructure are expected to provide lucrative opportunities for expansion.
Key Takeaway:
The immunoassay market is set for steady growth, underpinned by increasing healthcare needs, technological advancements, and the expanding role of immunoassays in diagnostics and monitoring.
Market Drivers
- Rising Demand for Diagnostic Testing: The growing need for accurate and rapid diagnostic testing, especially in the context of infectious diseases and chronic conditions, is driving the demand for immunoassay techniques.
- Technological Advancements: Innovations in immunoassay technologies, including enhanced sensitivity and specificity of tests, are improving their effectiveness and expanding their applications.
- Increased Healthcare Expenditure: Rising healthcare spending globally is facilitating the adoption of advanced diagnostic tools, including immunoassays.
- Support from Regulatory Bodies: Favorable regulations and guidelines from health authorities are promoting the development and approval of new immunoassay products.
- Growing Awareness of Preventive Healthcare: Increased awareness about preventive healthcare measures is leading to more routine testing and screenings, further boosting market growth.
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Segment Insights
- The oncology segment is expected to be the highest revenue-generating area within the immunoassay market, projected to grow at a CAGR of over 27.9% during the same period.
Regional Insights
- North America is anticipated to maintain a significant share of the market due to its advanced healthcare infrastructure and high rates of diagnostic testing.
- Other regions, particularly Europe and Asia-Pacific, are also expected to see substantial growth driven by increasing healthcare investments and rising awareness about diagnostic testing.
Competitive Landscape
New market research report on immunoassay defines the market space as a younger space where there is a space for innovation and technology. The defining factors key players have are the ability to deliver effective and accurate results while making the end product more logistics friendly and easy to use.
- Siemens Healthineers has introduced its latest and revised fully automated immunoassay platforms and a comprehensive and disease-specific chart in excess of 100 tests. This enhanced productivity and efficiency while delivers accurate and faster results.
- Biomerieux, with more than 26000 immunoassay systems globally has introduced its R7D programs that covers high medical value applications, increased automation and decentralized testing, flourishing the sales of immunoassay platforms.
- Abbott Laboratories focuses on chia technology and offers an automatic immunoassay analyzer named Abbott prism, delivers effectiveness and enhances productivity.
Key Companies Profiled
Siemens Healthineers; BioMérieux SA; Abbott Laboratories; Danaher Corporation (Beckman Coulter); Quidel Corporation; Ortho Clinical Diagnostics; Sysmex Corporation; Bio-Rad Laboratories, Inc.; Becton, Dickinson and Company; F. Hoffmann-La Roche AG; Thermo Fisher Scientific, Inc
Immunoassay Market by Category
By Product, Immunoassay Market is Segmented as:
- Reagents & Kits
- Analyzers/Instruments
- Open-ended Systems
- Closed-ended Systems
- Software & Services
By Technology, Immunoassay Market is Segmented as:
- Radioimmunoassay (RIA)
- Enzyme Immunoassays (EIA)Rapid Test
- Chemiluminescence Immunoassays (CLIA)
- Fluorescence Immunoassays (FIA)
- Others
By End-use, Immunoassay Market is Segmented as:
- Therapeutic Drug Monitoring
- Oncology
- Cardiology
- Endocrinology
- Infectious Disease Testing
- Autoimmune Diseases
By Application, Immunoassay Market is Segmented as:
- Hospitals
- Blood Banks
- Clinical Laboratories
- Pharmaceutical and Biotech Companies
- Academic Research Centers
- Others
By Form, Immunoassay Market is Segmented as:
- Natural Immunoassay
- Synthetic Immunoassay
By Region, Immunoassay Market is Segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Author By:
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)
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 stands as 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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