DUBLIN, March 1, 2023 /PRNewswire/ -- The "Global Immunoassays Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type, Application, Technology, By End User and Regions" report has been added to ResearchAndMarkets.com's offering.
The Global Immunoassays Market is expected to record a positive CAGR of ~6% during the forecast period (2022-2028) and reach a revenue of ~US$ 60 Bn by 2028, due to the rising prevalence of chronic and infectious diseases.
The rising prevalence of chronic, and infectious diseases, including COVID-19, HIV/AIDS, dengue, foodborne disease, and other diseases is one of the major factors propelling the immunoassays market growth.
In addition, the cost-effectiveness and higher efficiency of immunoassay tests also make a significant contribution to their growth.
For instance, the WHO Pan American Health Organization (PAHO) reported 21,41,240 dengue cases in the Americas, including 10,53,420 confirmed cases and 927 associated deaths, as of August 2022. In addition, Brazil (19,10,657), Peru (57,469), Colombia (38,844), Nicaragua (37,369), and Ecuador have reported the most cases (12,645) during the same period.
In addition, according to the study conducted in 2021 by Food Security Cluster, an Italian non-profit organization that outlines food availability, access, and utilization issues, more than 600 million individuals (one in ten) globally, become ill with the foodborne disease each year, and 420,000 die.
Technical challenges with immunoassay kits/reagents and instruments are likely to impede the market growth.
The severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) outbreak had been proclaimed a public health emergency in late January 2020, medical professionals and scientists experienced the necessity for extensive and rapid testing of individuals to implement measures to contain the virus's spread. Additionally, real-time PCR (RTPCR) tests and antibody/antigen tests have erupted as vital tools for the global healthcare system in managing the outbreak.
Scope of the Report
The Immunoassays Market is segmented by Product Types, Application, Technology, and End-User. In addition, the report also covers the market size for each of the five regions' immunoassays markets. The revenue used to size and forecast the market for each segment is USD billion.
By Type:
- Reagents & Kits
- Analyzers/Instruments
- Software & Services
By Application:
- Cardiology
- Oncology
- Autoimmune Diseases
- Infectious Diseases
- Others
By Technology:
- Radio immunoassay (RIA)
- Enzyme Immunoassays (EIA) or Enzyme-linked immunosorbent assays (ELISA)
- Fluoro Immunoassay (FIA)
- Chemiluminescence Immunoassay (CLIA)
- Others
By End User:
- Hospital & Clinics
- Clinical Laboratories
- Pharmaceuticals & Biotech Companies
- Blood Banks
- Academic Research Centers
- Others
By Geography:
- North America (U.S., Canada, Mexico)
- Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)
- Latin America, Middle East and Africa
Key Trends by Market Segment
- By Product Type: Reagents & Kits hold the largest share of the Global Immunoassays Market in 202
- Reagents/kits are a preferable type of product for immunoassay testing as they offer a quick, simple, and cost-effective method of detection with accuracy and specificity considerably better (in some cases) than other methods
- The global outbreak of Covid-19 has prompted governments to impose critical measures to prevent its spread, which focus primarily on accurate and prompt identification of virus-infected individuals using the most precise and sensitive method available, notably real-time reverse transcriptase PCR (RT-PCR). This has raised the global demand for detection kits.
- By Application: The infectious disease segment held the largest market share in 2021.
- The rising global prevalence rate of infectious diseases such as HIV/AIDS, malaria, dengue fever, influenza, and Covid-19 is one of the major factors driving the demand for immunoassays tests for infectious diseases.
- For instance, according to the world health organization (WHO), influenza leads to around 3 to 5 million serious cases and 250,000 to 500,000 deaths worldwide every year.
- The growing number of cancer cases worldwide is also a significant contributor to the expansion of the immunoassay market during the forecast period.
- For instance, according to the American Cancer Society, cancer continues to be the second leading cause of death in the U.S., after cardiovascular disease. In 2022, the U.S. is expected to see 1.9 million new cancer cases and 609,360 cancer deaths, for a total of 1,670 deaths per day.
- By Technology: The Enzyme Immunoassays (EIA)/Enzyme-linked immunosorbent assays (ELISA) technology segment dominated the market for immunoassays in 2021.
- This technology's accuracy and ability to provide quick results is a major driving factor. In addition, ELISA's simple procedure, high specificity and sensitivity, cost-effectiveness, and high efficiency are all contributing factors to its growth.
- Furthermore, the use of ELISA/EIA for antigen/antibody detection is among the most commonly available diagnostic tools, and it is extensively used for diagnosing swine influenza as well.
- According to the National Library of Medicine (NLM), operated by the U.S. federal government, ELISA, indirect fluorescence antibody (IFA), and virus neutralizing assays are used to detect porcine parainfluenza virus type-1 (PPIV-1) antibody in swine serum.
- By End User: The Hospitals & Clinics segment account for the majority share of the Global Immunoassays Market in 2021.
- The continuous development in the healthcare industry across countries has raised the requirement for hospitals with advanced techniques and facilities.
- The growing number of infectious diseases tested during the assessments and processing of body fluids, particularly following the worldwide explosion of the Covid-19 pandemic, are other major factors influencing the demand for immunoassays tests in hospitals and clinics.
- By Geography: North Americaaccounts for the largest share among all Regions within the total Immunoassays market in 2021.
- Increased technological adoption in diagnostic techniques, extensive research initiatives, and increasing government funding for point-of-care testing and regulatory science activities across the healthcare industry are all contributing factors to the growth of Immunoassays in North America.
- For instance, in November 2021, the U.S. Department of Health and Human Services (HHS) announced a USD 650 million investment to enhance manufacturing capacity for fast, high-quality diagnostic testing via rapid point-of-care molecular tests that help in the detection of influenza, respiratory syncytial virus (RSV), and a cluster of respiratory viruses.
Key Topics Covered in the Report
- Snapshot of Global Immunoassays Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Global Immunoassays Market
- Historic Growth of Overall Global Immunoassays Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter's 5 Forces Analysis of Global Immunoassays Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- Covid-19 Impact on the Overall Global Immunoassays Market
- Future Market Forecast and Growth Rates of the Total Global Immunoassays Market and by Segments
- Market Size of Product Type, Application, Technology, and End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Immunoassays Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Companies Mentioned in the Report
- F. Hoffmann-La Roche Ltd
- Abbott Laboratories
- Becton Dickinson and Company (BD)
- Bio-Rad Laboratories, Inc
- Siemens Healthineers
- Thermo Fisher Scientific
- Danaher Corporation
- PerkinElmer
- Quidel Corporation
- Ortho Clinical Diagnostics Holdings
- DiaSorin S.p.A
- Sysmex Corporation
- Cellabs
- Agilent Technologies
- Qiagen
- Meridian Bioscience Inc
- bioMerieux SA
- Merck KGaA
- Enzo Life Sciences, Inc
- Bio-Techne
For more information about this report visit https://www.researchandmarkets.com/r/zfavb2
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