Immunodiagnostics is an analytical technique, which employs antibodies as reagents against the antigens to be detected.
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Immunodiagnostics market or immunoassay is a key technique of in vitro diagnostics that deals with the diagnosis of various diseases based on antigen-antibody reaction.
The result of immunodiagnostics test aids in diagnosing. It also has clinical application in the field of infectious diseases, oncology & endocrinology, hepatitis & retrovirus, bone & mineral, autoimmunity, cardiac biomarker, and others.
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The key drivers for the market growth include rise in incidence of chronic and infectious diseases along with the growth in geriatric population, technological advancements such as fully automated and more capable immunoassay platforms and increase in need for accurate, target specific, and rapid diagnostic tests. In addition, rise in demand for next generation immunodiagnostics platform and popularity of personalized medicine is poised to augment the growth of immunodiagnostics market globally.
However, high cost of sophisticated immunodiagnostics test, stringent government regulations, and reluctance in adoption of advanced technologies in emerging economies are few factors that impede the market growth. The world immunodiagnostics market is projected reach $17,836 Million by 2022, from $10,738 Million growing at a CAGR of 7.3% from 2016 to 2022
The world immunodiagnostics market is segmented on the basis of product, technology, application, end user, and geography. Based on product, the market is divided into reagents, instruments, and services & software.
Reagents segment has the largest market share, owing to high cost of the immunoassay reagents (such as enzyme and substrate) and technological advancements in reagents for accurate and specific results. Based on technology, the market is segmented into enzyme-linked immunosorbent assay (ELISA), chemiluminescence immunoassay (CLIA), fluorescent immunoassay (FIA), radioimmunoassay (RIA), rapid test, and others.
ELISA holds the highest share in the technology market owing to the technological advancements such as automated platforms for ELISA, continues development in biomarkers and cost benefits. Nevertheless, CLIA exhibit the highest growth owing to the technological innovation such as automated platforms offering highly accurate results.
Based on application, the immunodiagnostics market is classified into infectious diseases, oncology & endocrinology, hepatitis & retrovirus, bone & mineral, autoimmunity, cardiac biomarker, and others. Among these, infectious disease segment is the highest revenue contributor, while oncology & endocrinology segment grow at a fastest rate, during the forecast period.
On the basis of end user, the immunodiagnostics market is segmented into hospitals, laboratories, academics & research universities, pharma & biotech industries among others.
The geographical segmentation of the market includes North America, Europe, Asia-Pacific, and LAMEA. In 2015, North America accounted for the largest market share in the immunodiagnostics market and is estimated to retain its dominant position throughout the forecast period.
The growth in this region is mainly due to the factors such as product innovations, sophisticated healthcare infrastructure, U.S.-being the target area for the top players in the market owing to high prevalence rate of chronic diseases and increase in geriatric population. Nevertheless, Asia-Pacific region is expected to emerge as the area with maximum growth potential due to the rise in number of infectious diseases, increase in chronic diseases, presence of high unmet needs, and increased focus of key players towards emerging markets such as China and India, and increased healthcare expenditure for the development of improved healthcare infrastructure.
Product development and launch is the mostly adopted strategy in the immunodiagnostics market followed by acquisition. The report provides a comprehensive analysis of the key players that operate in the world immunodiagnostics market.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the world immunodiagnostics market with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis of the market, by product, helps understand various types of devices used for the treatment of infectious diseases, oncology & endocrinology, hepatitis & retrovirus, bone & mineral, autoimmunity, cardiac biomarker, and others.
- Competitive intelligence highlights the business practices followed by the leading market players across various geographies.
- Porters Five Force’s model will interpret the bargaining power of suppliers and buyers, threat of new entrants and substitutes, and competition amongst the key players.
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