PUBLISHER: Allied Market Research | PRODUCT CODE: 1566756
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566756
Immunoassay Market
The immunoassay market was valued at $35.0 billion in 2023 and is projected to reach $61.6 billion by 2033, growing at a CAGR of 5.8% from 2024 to 2033.
Immunoassay is a bioanalytical method that detects and quantifies the presence of proteins or antigens in a sample. The basic principle of immunoassay relies on the interaction between an antibody and a target molecule, which results in the generation of a quantifiable signal, such as fluorescence or color change. The method finds applications in pharmaceutical research, medical diagnostics, and environmental monitoring. The high specificity & sensitivity of the method is pivotal in monitoring drug levels, diagnosing diseases, screening for infectious agents, and detecting biomarkers.
Rise in the prevalence of infectious and chronic diseases is a significant driver of the immunoassay market. In addition, surge in investments in the pharmaceutical & biotechnology infrastructure has led to the expansion in infrastructure, thereby boosting the demand for immunoassay components for diverse purposes such as clinical trials, biomarker analysis, and drug discovery. Trends in the immunoassay market evolve constantly, enhancing the sensitivity and specificity of the tests. The integration of robotics and automation is acquiring traction in the market as it is enhancing productivity and helping to reduce human error in the laboratories.
However, procuring reliable instruments and authentic samples to critical for obtaining successful results. The acquisition of such trustworthy components is a challenging task owing to less retailers in the industry, thereby restraining the development of the immunoassay market. On the contrary, manufacturers of immunoassay systems strive to introduce innovative products, thereby presenting lucrative opportunities for market development. Next generation of immunoassay systems is projected to leverage the benefits of microfluidics and nanotechnology for achieving instant & accurate results.
Segment Review
The immunoassay market is segmented into product, technology, specimen, end user, and region. On the basis of product, the market is bifurcated into reagents & kits and analyzers. As per technology, it is classified into ELISA, chemiluminescence immunoassay, immunofluorescence assay, rapid test, ELISpot, western blotting, and others. According to specimen, it is categorized into infectious diseases, endocrinology, oncology, bone & mineral disorders, cardiology, blood screening, autoimmune disorders, allergy diagnostics, toxicology, newborn screening, and others. By end user, it is divided into hospitals & clinics, clinical laboratories, pharmaceutical & biotechnology companies, blood banks, research & academic laboratories, and home care settings. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
As per technology, the ELISA segment generated the highest revenue in 2023.
According to specimen, the blood screening segment was the highest shareholder in 2023.
By end user, the hospitals & clinics segment acquired high market stakes in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition Analysis
The major players operating in the global immunoassay market include F. Hoffmann-La Roche Ltd., Danaher Corporation, Abbott Laboratories, Siemens Healthineers, DiaSorin S.p.A., Sysmex Corporation, BioMerieux SA, Ortho Clinical Diagnostics, Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, and Merck kGaA. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
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