The global immunoassay market is expected to reach US$ 37,987.8 Mn in 2027 from US$ 21,800.0 in 2018
NEW YORK, Sept. 17, 2019 /PRNewswire/ -- The global immunoassay market is expected to reach US$ 37,987.8 Mn in 2027 from US$ 21,800.0 in 2018. The market is estimated to grow with a CAGR of 6.5% from 2019-2027.
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The market for immunoassay is expected to grow, owing to factors such as rising incidences of chronic and infectious diseases, technological advancements in immunoassay devices, and growing biotechnology & biopharmaceutical industries have been boosting the market over the years. However, the stringent regulatory requirements for immunoassay devices are likely to have a negative impact on the growth of the market in the coming years.
Immunoassay is used to measure the concentration of small molecules such as lipids, protein, nucleic acids, etc. in solutions using antigen-antibody reactions. It is majorly used to detect several infectious disorders like dengue, hepatitis, human immunodeficiency virus (HIV). Increasing incidences of infectious diseases such as HIV is the primary global public health issue. In 2018, the World Health Organization (WHO) having claimed that more than 32 million HIV people are diagnosed, out of which 770,000 people died. At the end of 2018, around 1.7 million people were reported to be newly infected globally, including 62% of adults and 54% of children. According to the HIV and AIDS organization (AVERT), in 2018, 1.1 million U.S. residents were infected with HIV, whereas APAC registered 5.2 million HIV-infected population. According to the European CDC, ~2 million people in Europe were infected with HIV in 2018. Such an increase in the incidence of chronic and infectious diseases is expected to create a demand for immunoassay tests around the world.
Global immunoassay market is segmented by product, technology, application, end user.On the basis of product, the market is segmented reagents & kits, analyzers & instruments, software & services.
On the basis of technology, it is segmented into enzyme-linked immunosorbent assays (ELISA), fluorescence, chemiluminescence, rapid test, western blot, enzyme-linked immune absorbent spot (ELISPOT), polymerase chain reaction (PCR).On the basis of application, the immunoassay market is further segmented into therapeutic drug monitoring, oncology, cardiology, endocrinology, infectious disease testing, autoimmune diseases, others.
Based on end user the market is segmented into hospitals, blood banks, clinical laboratories, pharmaceutical and biotech companies, academic research centers, others.
Some of the major primary and secondary sources included in the report are, Food and Drug Administration, World Health Organization, HIV and AIDS organization (AVERT), Center for Disease Control and Prevention (CDC), National Center for Health Statistics, American Heart Association, European Union (E.U.). and others.
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