PUBLISHER: Grand View Research | PRODUCT CODE: 1529674
PUBLISHER: Grand View Research | PRODUCT CODE: 1529674
The global chemiluminescence immunoassay market size is expected to reach USD 15.50 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.6% from 2024 to 2030. The high prevalence of chronic diseases, several advantages of chemiluminescence immunoassay (CLIA) technique, and approval and launch of novel CLIA solutions are anticipated to be the major factors driving the market.
Key players in the market are implementing organic and inorganic growth strategies for the development, launch, and distribution of novel CLIA solutions. For instance, in February 2020, Snibe Diagnostic, a China-based immunoassay manufacturer, received CE marking for its new MAGLUMI 2019-nCoV (SARS-CoV-2) IgM/IgG CLIA kits. In another instance, in January 2018, DiaSorin partnered with Germany-based Qiagen and added Qiagen's QuantiFERON-TB diagnostic test portfolio to its LIAISON family of fully automated chemiluminescence immunoassay analyzers. Such initiatives by major players are anticipated to significantly support the market growth. However, the high setup cost of automated chemiluminescence immunoassay systems is expected to be a major factor hindering the market growth.
Furthermore, the high prevalence of chronic diseases in key regions and increasing awareness regarding these diseases in emerging economies are anticipated to upsurge the demand for novel diagnostic solutions, including chemiluminescence immunoassay. According to the data published by the American Cancer Society, in 2020, an estimated 1.8 million new cases of cancer were diagnosed in the U.S. and around 606,520 people died due to the disease. In addition, as per the data published by the WHO in November 2020, HIV emerged as a major global public health issue and around 37.9 million people around the globe were living with the disease.