Immunoassay Market to Reach $43.51 Billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research®

REDDING, Calif., March 30, 2021 /PRNewswire/ -- According to a new market research report "Immunoassay Market by Product & Solutions (Immunoassay Kits {ELISA, Rapid Tests}, Immunoassay Platform, Software & Services), Platform (Chemiluminescence, Radioimmunoassay), Application (Infectious Diseases, Oncology, Allergy), End User - Forecast to 2027", published by Meticulous Research^®, the immunoassay market is expected to grow at a CAGR of 8% from 2020 to reach $43.51 billion by 2027.

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Immunoassay technologies utilize antigen-antibody reactions for the detection of causative agents. ELISA is the most widely used immunoassay technique for the diagnosis of infectious diseases. This technique has been implemented in diagnostics and quality-control programs as they are rapid, convenient, and an accurate research tool for detecting and quantitating targets.

Immunoassays have been one of the fast-growing clinical diagnostics technologies over the years. With the development of excellent signal generation methods, the attention has shifted to the development of immunochemical methods and instruments to provide convenient, high-performance systems. Important advances have been made in the design of immunochemical approaches that allow small molecules, such as metabolites and toxins, to substitute dynamic format assays with non-competitive formats, bringing advantages previously seen only with large molecular analytes.

Further, the continuous development of new biomarkers, cost-benefit, and growing adoption of automated platforms for ELISA are expected to increase immunoassay technology adoption. Bispecific antibodies and recombinant proteins are also beginning to impact immunodiagnostics. Due to the growing acceptance of smart devices, companies are developing automated lateral flow readers connected to mobile phones or laptops. They can produce highly sensitive and quantifiable results, capture and transmit real-time data. Through all these advances, the usage of immunoassay is further expected to expand, supporting market growth in upcoming years.

Impact of COVID-19 on the Immunoassays Market

The recent outbreak of coronavirus disease (COVID-19) impacted several countries worldwide. Although many dedicated healthcare professionals are working tirelessly on the frontlines to fight the pandemic, it is equally important to minimize disease spread through early diagnosis. Therefore, diagnostic testing with the help of immunoassay becomes a valuable tool amidst the pandemic.

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Two types of tests are validated to detect COVID-19—molecular diagnostic test and immunological assay test. But, as molecular diagnostic tests such as PCR cannot be used to monitor disease progression, there is a greater demand for immunological assays. Thus, manufacturers have ramped up their production of immunoassay solutions and have launched several products. In May 2020, ERBA Diagnostics Mannheim GmbH (Germany) launched its immunoassay-based kit—ErbaLisa COVID-19 ELISA kits to detect IgG and IgM antibodies to SARS-CoV-2. This kit allows qualitative as well as semi-quantitative detection of IgG and IgM antibodies.

The overall immunoassays market is mainly segmented by product & solutions (immunoassay kits {ELISA, Rapid Tests, Western Blot, ELISPOT, others}, immunoassay platform, software & services), platform (chemiluminescence, radioimmunoassay, fluorescence immunoassay, colorimetric immunoassays, other platforms), application (infectious diseases, cardiology, endocrinology, oncology, bone & mineral disorders, autoimmune diseases, other applications), end user (hospital & clinics, diagnostic reference laboratories, pharmaceutical and biotechnology companies, research & academic laboratories, other end users), and geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.

Based on platform, the immunoassays market is segmented into chemiluminescence immunoassays, fluorescence immunoassays, colorimetric immunoassays, radioimmunoassays, and other platforms. The radioimmunoassay platforms segment is estimated to grow at the highest CAGR during the forecast period owing to its wide applications in cancer detection, blood screening for hepatitis, diagnosis of ulcers, and narcotics detection, and the ability of these assays to quantify very small concentrations of antigens from small volumes of samples.

On the basis of product and solution, the immunoassay kits and reagents segment accounted for the largest share of the overall immunoassays market. Immunoassay kits and reagents are further classified into enzyme-linked immunosorbent assay (ELISA) kits and reagents; rapid test kits and reagents, western blot kits and reagents, enzyme-linked immunospot (ELISPOT) kits and reagents, and other kits and reagents. In 2020, the ELISA reagents & kits segment accounted for the largest share due to the increasing prevalence of infectious diseases such as HIV and growing awareness regarding the diagnosis of cancer and autoimmune diseases, and the emergence of the COVID-19 pandemic.

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On the basis of application, the infectious diseases segment accounted for the largest share of the overall immunoassays market in 2020 owing to the increasing prevalence of infectious diseases, growing awareness for early detection using specific immunoassay diagnostic tests, and growth in funding for research on infectious disease diagnostics.

Based on the end user, the diagnostic reference laboratories segment accounted for the largest share of the overall immunoassays market in 2020. The large share of this segment is primarily attributed to the rising laboratory automation, availability of well-equipped systems, growing prevalence of infectious diseases, and rising government initiatives to increase the adoption of immunoassay techniques in diagnostic reference laboratories.

The report also includes an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past four years. The immunoassays market has witnessed several new product launches, approvals, agreements, collaborations, partnerships, & expansions in recent years. For instance, in February 2021, Siemens Healthineers AG (Germany) received the CE mark approval for its SARS-CoV-2 Antigen Assay (CoV2Ag).

The key players operating in the global immunoassays market are F. Hoffman La Roche AG (Switzerland), Abbott Laboratories (U.S.), Siemens AG (Germany), Danaher Corporation (U.S.), Sysmex Corporation (Japan), bioMérieux SA (France), Ortho Clinical Diagnostics (U.S.), DiaSorin SpA (Italy), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific Inc. (U.S.), Becton, Dickinson and Company (U.S.), Merck KGaA (Germany), Bio-Rad Laboratories (U.S.), Agilent Technologies, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Quidel Corporation (U.S.), and Bio-Techne Corporation (U.S.) among others.

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Scope of the Report:

Immunoassays Market, by Product & Solution

• Immunoassay Kits and Reagents
• Elisa Kits and Reagents
• Rapid Test Kits and Reagents
• Western Blot Kits and Reagents
• Elispot Kits and Reagents
• Other Immunoassay Kits and Reagents
• Immunoassay Analyzers
• Immunoassay Software and Services

(Other immunoassay kits and reagents comprise plasmon resonance-based immunoassays, radioimmunoassay, microfluidic assays, and nanomaterial and micro-material-based assays.)

Immunoassays Market, by Platform

• Chemiluminescence Immunoassays
• Fluorescence Immunoassays
• Colorimetric Immunoassays
• Radioimmunoassays
• Other Immunoassay Platforms

(Other immunoassay platforms comprise turbidimetric immunoassays and counting immunoassays.)

Immunoassays Market, by Application

• Infectious Diseases
• Oncology
• Endocrinology
• Cardiology
• Bone and Mineral Diseases
• Autoimmune Diseases
• Other Applications

(Other applications comprise toxicology, hematology, neonatal testing, allergy, and gastrology.)

Immunoassays Market, by End User

• Diagnostics Reference Laboratories
• Hospitals and Clinics
• Research and Academic Laboratories
• Pharmaceutical and Biotechnology Companies
• Other End Users

(Other end users comprise nursing homes, ambulatory care centers, blood banks, and home healthcare agencies.)

Immunoassays Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• China
• Japan
• India
• Australia
• Indonesia
• Rest of APAC (RoAPAC)
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa

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