PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457953
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457953
The value of the ELISpot and FluoroSpot assay market was USD 289.5 million in 2023, and it will power at a compound annual growth rate of 7.9% during 2024-2030, to touch USD 490.8 million by 2030.
Market Drivers
Some driving factors of the industry are the growing occurrence of infectious and chronic diseases at a global level, particularly HIV, and the growing elderly population.
ELISpot and FluoroSpot are performed for several diseases, for instance, cancer, infectious diseases, and, autoimmune ailments. The ELISpot assay clearly spots the number of cytokine-secreting cell with high specialty and sensitivity.
These benefits make it an effective tool for measuring the degree of adaptive and innate immune responses.
As stated by the CDC's NCEZID, the infectious disease risk is increasing incessantly due to the change in climate all over the world.
Lyme disease, Valley fever, and West Nile disease are some infectious diseases, rising in prevalence and spreading to novel regions of the U.S. This is because of the warmer summers, milder winters, and fewer days with frost.
Assay Kits Hold Largest Share
Assay kits will lead the market by the end of this decade because of the growing incidence of infectious and chronic ailments, accompanied by the development in assay kits.
The ELISpot assay is used to examine the vaccine efficiency on immune mediators, for example, interferons, pro-inflammatory mediators, and interleukins. Additionally, the main benefit of this assay is that it is cost-effective and displays results quickly.
Hospitals and Clinics are the Major End Users
Hospitals and clinics were the leaders of the market, with a share of 60%, in 2023. This is because hospitals and clinics and preferred by most patients for disease diagnosis, particularly in emerging countries.
Furthermore, with continued efforts of the government, the count of such medical centers is on the rise, at a global level, which drives the demand for all sorts of therapeutic and diagnostic equipment at these places.
For addressing the huge demand for biopharmaceuticals, there is a growing emphasis on research and, related spending. The capability of biopharmaceuticals for treating ailments that were incurable before has brought about the release of these kinds of new medications in the market.
Therefore, the market under investigation will grow by the end of this decade.
North America is the Leader of the Market
North America was the regional leader of the market, with a 55% share, in 2023. As per the U.S. Census Bureau, approximately 56 million adults aged 65 or more are in the U.S. and make about 16.9% of the total population of the country.
Further, there will be over 73 million older adults by the time 2030 comes to an end, which means over 20% of people will be older. The total count of adults aged 65 and more will increase to 85.7 million by 2050 and will comprise 22% of the total population of the nation.
China Leads the Pack in the APAC Market
In the APAC region, China will be the fastest-growing market. This has a lot to do with the prevalence of cancer and other chronic ailments, increasing emphasis on research and development activities, rising patient populace, and surging healthcare spending.