Immunodiagnostics refers to a branch of medical diagnostics that utilizes antibodies to detect diseases or conditions. This field relies on the specific interactions between antigens (substances that stimulate an immune response) and antibodies (specific binding proteins produced by immune cells in response to antigens). Immunodiagnostic tests can identify the presence of antigens produced by pathogens such as viruses, bacteria or parasites, as well as detect proteins produced by the body in response to pathogens or pathological changes in organs, tissues and cells in response to disease or injury.
The immunodiagnostics market consists of sales, by entities (organizations, sole traders and partnerships), of immunodiagnostics products and services that utilize the antibodies to detect and measure specific substances through antigen-antibody reactions.
The global immunodiagnostics market was valued at $14,646.4 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 7.0%.
Rise In Healthcare Expenditure
The rise in healthcare expenditure drove the expansion of the immunodiagnostics market during the historic period. Healthcare expenditure is essential for driving innovation and improving access to advanced technologies. As healthcare budgets increased, there was a corresponding surge in demand for advanced diagnostic technologies, including immunodiagnostics, which played a pivotal role in disease detection and monitoring. This increased expenditure allowed healthcare facilities to invest in state-of-the-art equipment and innovative diagnostic solutions, driving market growth. According to the Centers for Medicare & Medicaid Services, a US-based federal agency that administers the nation's major healthcare programs including Medicare and Medicaid, health spending in the USA grew by 9.7% in 2020, reaching $4.1 trillion or $12,530 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 19.7% of GDP in the UK in 2020, which is £269 billion ($354.45 billion), a nominal-terms increase of 20% on spending in 2019. Therefore, the rise in healthcare expenditure propelled the growth of the immunodiagnostics market.
Increasing Immunoassay Sensitivity Using DNA Amplification Technology
Companies operating in immunodiagnostics are increasing immunoassay sensitivity using DNA amplification technology. This approach involves amplifying target DNA sequences associated with specific biomarkers, thereby increasing the detectability of analytes in biological samples. By integrating DNA amplification techniques such as polymerase chain reaction (PCR), into immunoassay platforms, companies can achieve greater sensitivity and accuracy in detecting low-concentration analytes. For instance, in May 2021, Cavidi, a Sweden-based pharmaceutical and diagnostic company, introduced a groundbreaking platform technology called Exazym, signal generating technology to bring ultra-sensitive detection-levels to conventional immunodiagnostic assays. This innovative technology offers a novel signal amplification method known as Binding Oligo Ladder Detection (BOLD), which significantly enhances immunoassay signal amplification by up to 100 times.
The global immunodiagnostics market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 23.25% of the total market in 2022.
Immunodiagnostics Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global immunodiagnostics market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for immunodiagnostics? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The immunodiagnostics market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider immunodiagnostics market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product, by technology, by application and by end-user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the immunodiagnostics market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product, by technology, by application and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for immunodiagnostics providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Product: Reagents And Consumables; Instruments; Software And Services
- 2) By Technology: Enzyme-Linked Immunosorbent Assay; Chemiluminescence Immunoassay; Fluorescent Immunoassay; Radioimmunoassay; Rapid Test; Other Technologies
- 3) By Application: Infectious Diseases; Oncology And Endocrinology; Bone And Mineral Diseases; Autoimmunity Disorders; Cardiac Biomarkers; Hepatitis And Retrovirus Testing; Other Applications
- 4) By End-User: Hospitals; Clinics; Diagnostic Laboratories; Academic And Research Institutes; Other End-Users
- Companies Mentioned: Abbott Laboratories;F. Hoffmann-La Roche Ltd;Thermo Fisher Scientific Inc.; Danaher Corporation; DiaSorin S.p.A.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; immunodiagnostics indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.