Market Drivers and Restrains
The rise in demand for immunoassay owing to the growing demand for biochemical test as cases of infectious disease is increasing can prompt the expansion of the immunoassay market in the near future. Immunoassay test works on the principle of biochemistry and use concentration and presence of an analyte, such as; lipid, protein, and nucleic acid among others, that deliver highly accurate result. In solution samples, such as serum, and urine among others, analysing antibody-antigen reactions offers diagnostic insights that aid in the making of an effective treatment regimen. Increase in expense for R&D for the designing of better immunoassay solutions, along with aforementioned factors, can add to the rapid growth of the market. The adoption of automation technology and it incorporation in equipment designed for immunoassay test boost efficacy, and provide cost-effectiveness that can favor market growth.
Market Scope
Market Research Future (MRFR) studied the global immunoassay market 2021 over the review period till 2025. As per MRFR study, the immunoassay market is expected to surge at 5.9% CAGR over the evaluation period. By 2025, the immunoassay market value can touch USD 18,626.7 Mn.
Market Segmentation
The segment study of the global immunoassay market is done by product, end user, technology, and indication.
Reagents and kits, services, analysers or instruments, and software are segments in the study of the global immunoassay market that is based on product. The segment of reagents and kits is expected to prompt the market upsurge as it is the largest contributor in the worldwide immunoassay market. The surge in incidence of infectious and chronic ailments diseases is creating the demand for reagents and kits, and the repetitive purchase of such products, can prompt the expansion of immunoassay market in the foreseeable future.
Chemiluminescence immunoassay (CLIA), radioimmunoassay (RIA), enzyme-linked fluorescent assay (ELFA), enzyme-linked immunosorbent assay (ELISA), and rapid test are segments of the immunoassay market study that is based on technology. The segment of enzyme-linked immunosorbent assay is expected to earn high revenue for the market over the forecast tenure owing to the adoption of adoption the product to cure food allergies and various infectious diseases, such as; namely, AIDS, Lyme ailments, Ebola, and influenza among others.
Regional Analysis
The Americas, Asia-Pacific, Europe, and the Middle East and Africa, are key areas that are studied for the global immunoassay market to shed light on demographic and geographic factors that are responsible for the current status of the market.
The Americas immunoassay market is expected to exhibit its supremacy over other regions in the analysis tenure. this is often attributed to headquartered major market participants, increasing expenditure on analysis
and development activities, the rising burden of chronic diseases and complicated healthcare infrastructure, and growing adoption of immunochemical assay within the North American country and Canada.
Europe, after the Americas, is anticipated to earn high revenue for the global immunoassay market over the review tenure due to flourishing biotechnology and pharmaceutical companies. The mounting adoption in diagnostic measures, and growing use of luminescence immunochemical assay within the UK, Germany, and France.
The market of immunoassay in the Asia Pacific would register a high growth pace over the next seven years because of booming medical tourism, fast developing health care infrastructure, increasing geriatric population including the rising burden of chronic diseases, growing awareness regarding immunochemical assay tests within the developing countries, similar to China, India, Singapore, and Australia.
Key Players
Abbott Laboratories, Danaher Corporation, Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Siemens Healthineers, F. Hoffmann-La Roche Ltd, bioMérieux SA, Sysmex Corporation, Merck KGaA, Quidel Corporation, Ortho-Clinical Diagnostics/Carlyle Group, and DiaSorin S.p.A. are some reputed companies in the global immunoassay market that are listed by MRFR in its new report.