Immunoassay Market - Global Opportunity Analysis and Industry Forecast (2021-2028)

Meticulous Research^®– a leading global market research company published a research report titled “Immunoassay Market by Product & Solution (Immunoassay Kits {ELISA, Rapid Tests}, Immunoassay Analyzers, Software & Services), Platform (Chemiluminescence, Radioimmunoassay), Application (Infectious Diseases, Oncology, Allergy), End User - Forecast to 2028.”

According to this latest publication from Meticulous Research^®, the immunoassays market is expected to reach $46.49 billion by 2028, at a CAGR of 7.5% during the forecast period. Some of the major factors driving the growth of the market include the increasing prevalence of chronic & infectious diseases, technological advancements in PoC testing devices, increasing usage of immunoassays in oncology and drug & alcohol testing, and the emergence of COVID-19. Further, the increasing epidemic potentials, integration of microfluidics technology into immunoassays, and emerging economies offer significant growth opportunities for the players operating in this market. However, inadequate reimbursement policies immunoassays is one of the major hindrances to the growth of this market.

Immunoassays Market: Future Outlook

The immunoassays market is segmented on the basis of Product & Solution (Immunoassay Kits {ELISA, Rapid Tests, Western Blot, ELISPOT, Others}, Immunoassay Analyzers, Software & Services), Platform (Chemiluminescence, Radioimmunoassay, Fluorescence Immunoassay, Colorimetric Immunoassay, Other Platforms), Application (Infectious Diseases, Cardiology, Endocrinology, Oncology, Bone & Mineral Diseases, Autoimmune Disorders, Other Applications), End User (Hospital & Clinics, Diagnostic Reference Laboratories, Pharmaceutical and Biotechnology Companies, Academic & Research  Institutes, Other End Users). The study also evaluates industry competitors and analyzes the market at regional and country levels.

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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 comprises radioimmunoassay, microarray immunoassays, immunohistochemistry assays, bead-based immunoassays, and multiplex microarray assays)

Immunoassays Market, by Platform

• Chemiluminescence Immunoassay
• Fluorescence Immunoassay
• Colorimetric Immunoassay
• Radioimmunoassay
• Other Immunoassay Platforms
  (Other immunoassay platforms comprise turbidimetric immunoassays, chromatographic immunoassays, microarray immunoassays, immunohistochemistry, and counting immunoassays)

Immunoassays Market, by Application

• Infectious Diseases
• Oncology
• Endocrinology
• Cardiology
• Bone and Mineral Diseases
• Autoimmune Disorders
• Other Applications
  (Other applications comprise toxicology, hematology, neonatal testing, allergy, and gastrology.)

Immunoassay Market, by End User

• Diagnostics Reference Laboratories
• Hospitals and Clinics
• Academic and Research Institutions
• 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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Based on product and solution, the immunoassay kits and reagents segment is expected to account for the largest share of the immunoassays market in 2021. The large share of this segment is mainly attributed to the recurrent purchase of kits and reagents, increasing vaccine development to address the challenge of antimicrobial resistance pandemics, and technological advancements in ELISpot assay kits. Furthermore, increasing demand for immunoassay-based COVID-19 testing products and the cost-effectiveness of these products are further expected to drive the growth of this segment.

Based on platform, the chemiluminescence immunoassay segment is expected to grow at the fastest CAGR during the forecast period. Factors such as the increasing adoption of chemiluminescence assays in clinical diagnostics, research applications, and pharmaceutical analysis due to their low cost per test are the factors responsible for the growth of this segment during the forecast period.

Based on application, the infectious diseases segment is expected to account for the largest share of the immunoassays market in 2021, due to the increasing prevalence of various infectious diseases, rising number of regulatory approvals & product launches, and increasing demand for COVID-19 test kits.  However, the bone and mineral diseases segment is expected to grow at the fastest CAGR during the forecast period due to the need for early diagnosis of osteoporosis and monitoring the effectiveness of the treatment, and rising prevalence of vitamin D deficiency.

Based on end user, the immunoassays market is segmented into diagnostic reference laboratories, hospitals & clinics, academic and research institutes, pharmaceutical and biotechnology companies, and other end users. In 2021, the diagnostic reference laboratories segment is expected to account for the largest share. Factors driving the growth of this segment include rising number of tests being carried out in diagnostic labs, rising laboratory automation, availability of well-equipped immunoassay systems, growing prevalence of infectious diseases, and rising government initiatives.

This research report analyzes major geographies and provides comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America, and the Middle East & Africa. North America is expected to account for the largest share of the immunoassays market in 2021, followed by Europe and Asia-Pacific. Factors driving the North American market include the increasing awareness regarding early disease diagnosis of diseases, development of novel advanced immunoassay diagnostic technologies, growing focus towards point-of-care settings, and growth in pharmaceutical and biotechnology industries.

The key players operating in the immunoassays market are F. Hoffman-La Roche AG (Switzerland), Abbott Laboratories (U.S.), Siemens Healthineers AG (Germany), Danaher Corporation (U.S.), Sysmex Corporation (Japan), bioMérieux SA (France), Thermo Fisher Scientific Inc. (U.S.), Becton, Dickinson and Company (U.S.), Merck KGaA (Germany), Bio-Rad Laboratories, Inc. (U.S.), Agilent Technologies, Inc. (U.S.) and PerkinElmer, Inc. (U.S.) among others.

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Key questions answered in the report-

• Which are the high growth market segments in terms of product & solution, platform, application, end user, and regions/countries?
• What was the historical market for immunoassays across the globe?
• What are the market forecasts and estimates for the period 2021-2028?
• What are the major drivers, restraints, challenges, and opportunities in the immunoassays market?
• Who are the major players in the immunoassays market?
• How is the competitive landscape and who are the market leaders in the immunoassays market?
• What are the recent developments in the immunoassays market?
• What are the different strategies adopted by the major players in the immunoassays market?
• What are the geographical trends and high growth regions/ countries?

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