Immunoassay Market Is Showing Strong Position Near Future By Leading Key Vendors like Becton, Dickinson and Company, Ortho Clinical Diagnostics

Transparency Market Research has published a new report titled, "Immunoassay Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026". According to the report, the global immunoassay market was valued at US$ 16.54 Bn in 2017 and is projected to expand at a CAGR of 6.2% from 2018 to 2026. The report suggests that high prevalence of chronic and infectious diseases, rise in demand for development of new immunoassays and systems, and increase in trend for international accreditations and result comparability across the world are anticipated to drive the global immunoassay market in the next few years.

North America and Europe are projected to dominate the global immunoassay market during the forecast period, primarily due to rapidly aging population, well-established health care infrastructure, presence of a large number of in vitro diagnostic players, and rise in demand for preventive health care in these regions. The immunoassay market in Asia Pacific is projected to expand at a significant CAGR from 2018 to 2026. It can be attributed to rapidly improving health care infrastructure, increase in foreign direct investment in the health care and biotechnology industries in emerging countries, such as, China, India, South Korea, and Malaysia, and rise in per capita health care expenditure in the region.

Report Overview @

https://www.transparencymarketresearch.com/immunoassay-market.html

Development of new immunoassays and systems for various medical specialties to fuel global market

Rise in awareness of biomarkers for various chronic diseases has driven industry experts and researchers to develop new assays to expand the applications of immunoassay analyzers. Development in genomics and proteomics has expanded the database of biomarkers used by industry players to develop new assays that cascade the onset of a disease or disorder. For example, there has been a development of vitamin D deficiency testing chemiluminescence assay, which was earlier diagnosed through manual ELISA methods. Key players are investing in the development of novel immunoassays in the infectious disease domain with the help of the growing database on genetics and biomarkers of various infectious pathogens.

Get PDF Brochure for Research Insights at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=19703

Though new molecular diagnostics tests are being developed for infectious diseases, they lack high throughput and short test time features, which make immunoassay analyzers, such as, ELISA, CLIA, and IFA the preferred choices. In March 2018, Roche launched the first fully-automated Zika IgG immunoassay, called Elecsys Zika IgG, targeted for the CE-marked countries. Rise in awareness regarding early detection and diagnosis of autoimmune disorders has resulted in the development of new immunoassay systems and assays by the leading players in IVD industry. For example, in December 2017, Innova diagnostics launched the next-generation EIA & IFA Processor QUANTA-Lyser 3000 for the diagnosis of autoimmune disorder in clinical laboratory. Thus, the development of new immunoassays and systems to address the current unmet needs and upcoming challenges in health care diagnostics is projected to be a leading driver of the global immunoassay market during the forecast period.

Consumables to be highly attractive segment owing to high volume consumption and low cost

The report offers a detailed segmentation of the global immunoassay market based on product type. The consumables segment is poised to account for the leading share of the global market during the forecast period. The segment comprises immunoassays, test kits, reagents, calibrators, controls, diluents, buffers, and wash solutions used while performing immunoassay.

These products have a short lifespan and are primarily meant for single use. Wide availability of consumables and low investment in product development are the major reasons behind the fragmented scenario of the segment. Dominant market share of the consumables segment can be directly attributed to the high number of immunoassay tests performed for the diagnosis of various diseases. As most of the consumables are disposable in nature, they are frequently and repeatedly used for conducting new immunoassay tests. Moreover, technological advancement in immunoassay techniques, such as chemiluminescence immunoassay (CLIA), and increasing adoption of the CLIA technique in developed countries are projected to augment the segment during the forecast period.

Request a Sample of this Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=19703

Infectious disease segment to hold leading market share due to high prevalence and incidence rate of infectious diseases across the globe

The immunoassay market, by application, has been broadly segmented into infectious diseases, endocrinology, oncology, cardiology, orthopedics, and others. The infectious disease segment is estimated to hold a prominent share of the market by the end of the forecast period.

High prevalence of infectious diseases, such as, meningitis, tuberculosis, HIV/AIDS, and hepatitis in developing as well as underdeveloped countries and rising incidence of these diseases in developed countries have led to the prominent share of the segment in 2017. Moreover, increasing demand and competition among IVD industry players for new test development for emerging infectious diseases, such as, Zika virus, H1N1, Ebola virus, etc. is projected to boost the growth of the segment during the forecast period. Diagnosis of Hepatitis and HIV is a major testing application of immunoassay analyzers. According to the World Health Organization (WHO), as of July 2017, about 257 million people were living with hepatitis B and around 71 million people across the world were estimated to have hepatitis C. WHO also stated that 36.7 million people are affected with HIV across the globe.

Hospitals & diagnostic laboratories segment to dominate global market

In terms of end-user, the hospitals & diagnostic laboratories segment is projected to dominate the global immunoassay market, expanding at a CAGR of 6.4% during the forecast period. A large number of clinical diagnostic tests are performed in hospital and diagnostic laboratories for detection of various diseases. Prominent market share of hospitals and diagnostic laboratories can be attributed to the large base of hospitals and diagnostic laboratories across the globe. Moreover, rapidly increasing number of hospitals and diagnostic laboratories in emerging countries, expansion of laboratory services, and consolidation among health care institutions in developed countries are projected to drive the segment during the forecast period.

The blood banks segment accounted for the second-leading share of the global immunoassay market in 2017. Rise in demand for blood and blood products in health care and life sciences industries had led to the significant share of the segment. Epidemic outbreaks and increase in incidence of infectious diseases have boosted the adoption of automated immunoassay analyzers in blood banks. Stringent regulations regarding quality of IVD tests and demand for patient safety are projected to boost the growth of the segment during the forecast period.

High incremental opportunity in Asia Pacific

The immunoassay market in Asia Pacific is projected to expand at a significant CAGR of 7.1% during the forecast period. Growth in population, presence of emerging economies such as China and India, and a large base of geriatric population in Japan present significant opportunities for global players in these countries. Adoption of technologically advanced products in Japan, China, South Korea, Malaysia, and Singapore is likely fuel to the growth of the immunoassay market in Asia Pacific.

Moreover, rise in investment by leading pharmaceutical and biotechnology companies in India and China and rapidly increasing number of hospitals and diagnostic laboratories in the Asia Pacific boost the growth of the immunoassay market in the region. In September 2016, Abbott Laboratories established and inaugurated a new research and development facility in China to develop new diagnostic tools for patients in the country. Key laboratory service providers are expanding operations in emerging markets. For instance, SRL Diagnostics expanded its base in Southeast Asia. Quest Diagnostics established its operations in India and other countries in Asia.

Trend of M&A among leading players in global immunoassay market

The report also profiles the leading players operating in the global Immunoassay market, such as, F. Hoffmann-La Roche Ltd., Danaher Corporation, Abbott Laboratories, Siemens Healthineers, Thermo Fisher Scientific Inc., and Merck KGaA. Majority of these companies are focused on mergers and acquisitions and strategic collaborations among themselves or with research institutes for strengthening their product offerings and geographic expansion in emerging countries to tap the unmet needs. Since 2015, F. Hoffmann-La Roche Ltd. has engaged in more than eight strategic acquisitions in molecular diagnostics, cell & tissue culture, and immunoassay diagnostic fields. Other prominent players in the global immunoassay market include Becton, Dickinson and Company, Ortho Clinical Diagnostics, bioMérieux SA, Sysmex Corporation, and DiaSorin S.p.A.

Contact Us

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

This release was published on openPR.