Global Immunoassays Market is poised to reach $ 26.22 Billion market by 2021.
The Immunoassays Market was worth $ 16.43 Billion in 2016 and estimated to reach $ 26.22 Billion by the end of 2021 with a growing potential of 9.8 %. The market is projected to witness a profitable growth during the forecast period due to increasing prevalence of infectious diseases and rising ageing population.
Immunoassays are quick and accurate tests which can be used in a laboratory in order to measure the concentration or presence of a small molecule or macro molecule. The macro molecule can be antibodies or proteins produced as a result of an infection.Various technologies of immunoassays include enzyme-linked immunosorbent assay (ELISA), enzyme linked fluorescence, chemiluminescent immunoassay, immunofluorescence, radioimmunoassay and other similar techniques.
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Factors such as rising prevalence of infectious diseases, increasing ageing population, advancements in novel assays in various diseases such as Cardiology and oncology, growing applications in diagnosting drug monitoring tests, infectious diseases and identification of cancer biomarkers, increasing need of reagents, sensitive assays and analytical techniques, availability of wide range of reagents, introduction of novel biomarkers, growing government and corporate investment in the pharmaceutical and biotechnology segment in emerging markets are propelling the growth of the market. Lack of reimbursement policies, adoption of immunoassays in emerging markets, stringent regulations for storage are restraining the growth of the market.
Based on Technology, the market is segmented into Enzyme Immunoassay, Fluorescent Immunoassays, Cheniluminescence Immunoassays, Nephelometric Immunoassays, Radio Immunoassays, Counting Immunoassays, Turbidimetric Immunoassays, and Others. Based on Application, the market is segmented into oncology, Cancer, Hematology, Cardiology, Thyroid, Infectious diseases, Allergies and others.
Based on End users, the market is segmented into Hospitals, clinics, Academic Research institute, Pharmaceutical and Biotech vendors, Laboratories and others. Based on Geography, the Immunoassays market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
North America accounted to have largest share in the market owing to increasing adoption of low cost immunoassay instruments in research and clinical laboratories, rising application of immunoassay techniques in cancer research, and increasing infrastructure for laboratory. Asia-Pacific market is expected to show high CAGR over the forecast period.
The expected growth is attributed by increasing development of new biologics, drugs, and vaccines, large number of investment opportunities in these immature/emerging markets, rising diagnostics laboratories in this region, growing government and corporate investment in the pharmaceutical and biotechnology segment, increasing focus on attracting international and domestic leaders in the market.
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Some of the major companies operating in global market are Roche Diagnostics, DiaSorin S.p.A, Beckman Coulter, Siemens Healthcare, Ortho Clinical Diagnostics, bioMerieux, Thermo Fisher Scientific, Abbott Laboratories, Akers Biosciences, Inc, Becton Dickinson and Company, Devon Medical Products, EDP Biotech Corporation, Hologic (Gen-Probe), Intrinsic LifeSciences.
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