Global Immunoassay Market Outlook and Forecast to 2025 - Leading Vendors are Roche Diagnostics, bioMerieux, Abbott Laboratories, Becton Dickinson & Company, and Siemens Healthineers

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Nov 28, 2019, 06:30 ET

DUBLIN, Nov. 28, 2019 /PRNewswire/ -- The "Immunoassay Market By Products and Services (Instruments, Reagents & Kits, Software & Services), By Applications (Oncology, Infectious Disease Testing, Cardiology, Endocrinology, Autoimmune Disease, Other Applications), By End-users, By Regions - Global F" report has been added to ResearchAndMarkets.com's offering.

This report predicts that the global immunoassay market will grow at a CAGR of ~6% during the forecast period 2019-2025.

Market Dynamics

Drivers

Growing Incidence of Chronic and Infectious Disease
Increase in Geriatric Population
Growing Adoption of Immunoassay-Based Point-Of-Care Diagnostics

Restraints

Stringent Regulatory Approval Process of Immunoassay Instruments and Consumables
Unfavorable Reimbursement Scenario

Opportunities

Growing Importance of Companion Diagnostics in the Immunoassay Market
Market Expansion Opportunities in Emerging Economies

Growing patient base, improvements in technology, increasing significance of companion diagnostics in the immunoassay market, launch of innovative products, and rising elderly population are few of the factors facilitating the growth of the immunoassay market.

The market continues to grow as immunoassay is one of the most widely used techniques for disease diagnosis and measuring treatment effectiveness. Key market players are focusing on increased product launch and strategic deals to strengthen their market position. The market generates significant revenue from the key players operating in this field, and few of them include Roche Diagnostics, bioMrieux SA, Abbott Laboratories, Becton Dickinson & Company, and Siemens Healthineers.

According to the author analysis, North America accounted for the largest share of the global immunoassay market in 2018 and Asia Pacific is expected to grow at a high CAGR during the forecast period. Immunoassays offer a broad array of applications in disease diagnosis with high specificity and sensitivity when compared to other tests. According to the National Cancer Institute, in the US, an estimated 1,735,530 new cancer cases were diagnosed and approximately 609,640 deaths were recorded in 2018. The biggest infectious disease killers, currently in the US, are pneumonia and flu, which are responsible for nearly 40% of all deaths from infectious diseases.

By Products & Services

Instruments
Reagents and Kits
Software and Services

Reagents and kits, in terms of immunoassay products and services, held a significant market share in 2018, owing to the need to repeat the purchase of assay kits & reagents, increase in the rate of chronic and infectious diseases, and growing number of immunoassay tests.

By Applications

Oncology
Infectious Disease Testing
Cardiology
Endocrinology
Autoimmune Disease
Other Applications

Among various applications, the infectious disease testing segment occupied the largest share in 2018. Oncology is estimated to grow at a high CAGR during the forecast period due to increasing technological advancements that assist in the precise identification of cancer-causing organisms and rising number of cancer cases globally.

By End-users

Hospitals and Laboratories
Pharmaceutical and Biotechnology Companies
Other End-users

The hospitals and laboratories segment occupied the largest market share, i.e., more than 30% in 2018, and is expected to remain dominant during the forecast period 2019-2025.

By Regions

North America
Europe
Asia Pacific
Rest of the World

North America was dominant in the global immunoassay market in 2018. The significant share of the North American region comes from the US due to improved healthcare infrastructure, high usage of immunoassays in clinical diagnostics, and favorable reimbursement facilities.

Competitive Analysis

The market players are continuously focusing on R&D to deliver innovative products in the market. The increasing usage of technology has resulted in strategic collaborations, new product launch, and increased funding.

For instance, in March 2019, Beckman Coulter announced the launch of Access PCT assay, the newest addition to its extensive portfolio for the sepsis identification and management.
In April 2019, Thermo Fisher Scientific announced the availability of the new immunoassay, Thermo Scientific CEDIA Mitragynine (Kratom) assay, its latest drugs of abuse test that comprises supporting calibrators and controls.
In August 2019, Bio-Techne Corporation and Cygnus Technologies, a part of Maravai LifeSciences, announced a strategic partnership for the quantification of Chinese Hamster Ovary Host Cell Proteins (CHO-HCP) on the ProteinSimple-branded Ella immunoassay platform. According to agreement terms, both the companies are introducing the co-developed third-generation CHO-HCP assay in the proprietary Simple Plex immunoassay cartridge for customers in North America and Europe.

Key Vendors

Roche Diagnostics
bioMerieux S.A.
Abbott Laboratories
Becton Dickinson & Company
Siemens Healthineers

Key Competitive Facts

The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
The requirement of high capital investment, implementation, and maintenance cost in the market are also limiting the entry of new players.

Key Takeaways

Understanding the potential market opportunity with precise market size and forecast data.
A detailed market analysis focusing on the growth of immunoassay industry.
Factors influencing the growth of the immunoassay market.
In-depth competitive analysis of dominant and pure-play vendors.
Prediction analysis of the immunoassay market in both developed and developing regions.
Key insights related to major segments of the immunoassay market.
Latest market trend analysis impacting the buying behavior of the consumers.

For more information about this report visit https://www.researchandmarkets.com/r/ihdhkb

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