New Jersey, NJ, Sept. 25, 2019 (GLOBE NEWSWIRE) -- Increasing cases of infectious and chronic devices are influencing the growth in the medical device market. Increasing healthcare and personal care spending and rising demand for rapid test results are driving the growth of the market. The global immunoassay market is expected to grow from USD 20.71 Billion in 2017 to USD 40.29 Billion by 2025 at a CAGR of 8.40% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
Immunoassay is a biochemical which is used for the detection of various substances or specific proteins in the samples. The immunoassay instruments are also identified as analyzers and are used in hospitals and clinical laboratories. These instruments help in detecting the concentration and presence of analytes in the blood, plasma and urine samples. This technique uses antibody binding phenomenon and the concentration of proteins is measured using the specific antigen-antibody binding properties. The applications of using immunoassay instruments require minimal human resistance and screening of multiple samples.
Rising cases of infectious diseases around the world are driving the growth of the market. Also, increasing the development of various innovative tests for autoimmune diseases and increasing application in drug monitoring tests are positively impacting the growth. Stringent administrative policies may restrict the growth of the market. However, various FDA approved innovative products are further driving the market.
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Key players operating in the global Immunoassay market include Abbott Laboratories, Siemens, Roche, Sysmex Corporation, Danaher Corporation, bioMérieux, DiaSorin, Ortho Clinical Diagnostics, Bio-Rad Laboratories, Thermo Fisher Scientific, QIAGEN, Becton, Dickinson and Company, Agilent Technologies, Merck, Quidel Corporation, PerkinElmer, Mindray, Bio-Techne Corporation and others. To enhance their market position in the global Immunoassay market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in 2017, Qiagen received approval for QFT-Plus from FDA, which is used for the detection of latent tuberculosis infection.
- For instance, in September 2017, Meridian Life science Inc. launched TRUBlock Ultra, which is an active immunoassay interference blocker used for the detection of rheumatoid factor (RH), and heterophillic antibodies (HA).
The reagents & kits segment is dominating the market and was valued around USD 9.94 Billion in 2017
Product and service segment includes reagents & kits, analyzers and software. The reagents & kits segment is dominating the market and was valued around USD 9.94 Billion in 2017. Rising demand for non-invasive diagnostics techniques and the growing need of reagents are driving the growth of the segment.
ELISPOT is dominating the segment and is expected to attain the highest CAGR of 10.73% in the forecast period
The technology segment is classified into ELISA, Rapid Tests, western blotting, ELISPOT, immuno-PCR and other technologies. High sensitivity, cost benefits and long term presence in the market of the ELISPOT is contributing to the growth of the segment.
The chemiluminescence immunoassays segment is dominating and was valued around USD 7.86 billion in 2017
The platform segment is classified into chemiluminescence immunoassays, fluorescence immunoassays, colorimetric immunoassays, radioimmunoassays and other platforms. This growth can be attributed to automation and high-throughput techniques offered by the procedure as compared to others.
The infectious disease segment accounted for the largest market share of 34.31% in 2017
Application segment is divided into infectious diseases, oncology, endocrinology, cardiology, bone & mineral disorders, hematology & blood screening, autoimmune disorders, neonatal screening, toxicology and other applications. Increasing population prone to infections is rising the demand for these assays which in turn is driving the growth of the segment.
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The hospitals segment is dominating the market in the forecast period
The end-user segment includes hospitals, clinical laboratories, pharmaceutical and biotechnology industries, blood banks, research & academic laboratories and others end users. Rising demand for high-sensitivity test and convenient access is increasing the demand for rapid test result.
Regional Segment Analysis of the Immunoassay Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region dominated the global immunoassay market and generated the largest revenue of USD 9.52 Billion in 2017 whereas Asia pacific is expected to register the highest growth in the forecast period. North America region is expected to dominate the market due to increasing application of immunoassay techniques in cancer research which is a major driver of the market. Increasing adoption of compact immunoassay instruments in clinical diagnostics and increasing quality of infrastructure for laboratory and clinical research are also fuelling the growth of the market in the region. Asia pacific is expected to register the highest growth in the forecast period. Increasing development of new biologics, vaccines, and drugs and expanding medical treatment for infectious and chronic diseases are favouring the growth of the market in the region. Growing investment opportunities in emerging markets and an increasing number of diagnostics laboratories in the region is attracting the international and domestic players in the market.
About the report:
The global Immunoassay market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients' objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
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