Immunoassay Market Opens Ups for New Opportunity in Developing Nations Records Growth of CAGR 8.5% - Market Shapers Beckman Coulter, Abbott, Alere and DiaSorin

Market Highlights

Immunoassay is widely used in significant areas of pharmaceutical analysis which include diagnosis of diseases and in therapeutic drug monitoring.

A number of factors such as the increasing prevalence of chronic conditions, growth in the biotechnology and pharmaceutical sector, increasing adoption of rental immunoassay analyzers, rising use of immunoassay in oncology, growing awareness about immunoassay, healthcare insurance coverage for various infectious diseases, unmet medical needs, improving regulatory framework, and increasing government assistance are propelling the growth of the global immunoassay market. It is estimated that the immunoassay market is expected to grow at a CAGR of 8.5% during the forecast period of 2017–2023.

However, stringent FDA regulations, lack of specificity, the complex procedure of testing, and poor healthcare system in low- and middle-income countries may hamper the growth of the market.

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Immunoassay Market: Regional Analysis

The Americas dominates the immunoassay market owing to the presence of major market players, high adoption rate, and increasing prevalence of infectious diseases. According to the statistics suggested by the Centers for Disease Control (CDC) and Prevention, around 9,421 cases of tuberculosis, 51,455 cases of salmonella, 33,461 cases of Lyme disease, and 433 cases of meningococcal disease were registered in the United States. It is also reported that nearly 16.8 million individuals visit physician offices for infectious and parasitic diseases.

Europe holds the second position in the immunoassay market. It is expected that the funding provided by the government and private organizations towards research and development, along with the rising prevalence of infectious disease are likely to drive the European market.

Owing to a huge patient pool, increasing demand, and development in the healthcare technology, Asia Pacific is the fastest growing immunoassay market. Healthcare expenditure is found to be improving in various regions in Asia Pacific. According to the data suggested by the Australian Institute of Health and Welfare during the year 2015–16, the total health expenditure was USD 170.4 billion, i.e., 3.6% higher than the expenditure of 2014–2015. The increasing cases of bladder cancer are also propelling the market growth in the Asia Pacific region. According to a 2016 study published in the Journal of Translational Medicine, nearly 12,000 patients are newly diagnosed with bladder cancer, and around 5000 patients die from the disease annually in Japan. The onset of this disease is mostly seen in the more elderly population. A multiplex urinary immunoassay is commonly used for the detection of bladder cancer.

The Middle East and Africa holds the lowest share in the global immunoassay market due to low development, lack of technical knowledge, and poor medical facilities.

Immunoassay Market: Key Players

Beckman Coulter, Inc., Abbott Laboratories, Radiometer, Alere, Arlington Scientific, Bio-Rad Laboratories, BioMerieux, Inc., DiaSorin, Diamedix, Dynex Technologies, Fujirebio US, Gold Standard Diagnostics, Hycor Biomedical, Inova Diagnostics, Ortho-Clinical Diagnostics, Randox Toxicology, F. Hoffmann-La Roche Ltd., Siemens Healthineers, ThermoFisher Scientific, TOSOH Bioscience, Wako Diagnostics, Shenzhen New Industries Biomedical Engineering Co., Ltd., Sysmex Corporation, and others

Immunoassay Market: Segmentation

The global immunoassay market is segmented on the basis of product and service, type, and end-user. On the basis of product and service, the market is classified as reagents and kits, analyzers, and software and services. The reagents and kits segment is classified as Enzyme-Linked Immunosorbent Assay (ELISA) reagents and kits, rapid test reagents and kits, western blot reagents and kits, elispot reagents and kits, RIA reagents and kits, and PCR reagents and kits. The analyzers segment is classified as portable analyzers and benchtop analyzers.

On the basis of type, the market is classified as Radioimmunoassay (RIA), Counting Immunoassay (CIA), Enzyme Immunoassays (EIA) or Enzyme-Linked Immunosorbent Assays (ELISA), Fluoroimmunoassay (FIA), and Chemiluminescence Immunoassay (CLIA).

On the basis of application, the market is classified as infectious diseases, oncology, autoimmune disorders, toxicology, neonatal screening, cardiology, hematology and blood screening, bone and mineral disorders, and others.

On the basis of end-user, the market is segmented into hospitals and clinics, diagnostic laboratories, research and academic laboratories, pharmaceutical companies, biotechnology companies, and others.

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Major TOC Of the Report

Chapter 1. Report Prologue

Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations

Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation

Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment

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