Botulinum Immunodiagnostics Market is likely to expand at a CAGR of 2.2% and reach US$ 485.3 Mn by 2032 - Persistence Market Research

New York: The botulism outbreak due to the consumption of contaminated or spoiled food is a public health emergency. The threat of bioterrorism through equal distribution of botulinum neurotoxins in food sources or aerosolization gives rise to public health concerns. To identify the source of contamination as well as to perform epidemiological analysis of the outbreak, it is important to have rapid, yet reliable detection methods to support surveillance. Due to these factors, the botulinum immunodiagnostics market was valued at US$ 385.2 Mn in 2021 and is expected to increase at a CAGR of 2.2% over the forecast period (2022-2032).

Increased food production on a large scale and development in food products and processes, combined with supply chain improvements, have increased the risk of large-scale outbreaks of botulism due to accidental contamination of the source. Suitable assays and methods for the detection of such contamination have increased the demand for botulinum immunodiagnostics.
Furthermore, botulinum immunodiagnostic assays are used in the pharmaceutical industry to check the potential and safety of testing botulinum neurotoxins (BoNTs) in drug products to avoid an outbreak of botulinum infection.

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Stringent regulatory rules of government authorities for the production of kits and instruments are a key hurdle for botulinum immunodiagnostics market growth. Government authorities such as the FDA take a longer time for the approval of testing kits and instruments, which is a problem for manufacturers to bring a new product into the market. Moreover, the inaccuracy of some tests further hampers product growth, thereby restraining the market.

Key Takeaways from Market Study
• Immunoassay kits and reagents held 64% market share by product in 2021.
• LFA assays held around 39% of the global botulinum immunodiagnostics market share in 2021.
• Clinical use of botulinum immunodiagnostics held a market share of 82.2% in 2021.
• By application, clinical diagnostics accounted for a market share of 66.4% in 2021.
• By end user, the agriculture and food industries are widely using botulinum immunodiagnostic products, and the segment held a market share of 61.8% in 2021.
• In 2021, North America held a market share of 31.6%.

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"Rising awareness of botulism and growing demand for immunodiagnostic testing will drive market growth over the coming years," says an analyst of Persistence Market Research.

Market Competition
Leading market players are involved in activities such as acquisitions to expand their business. Many competitors are opting for acquisitions as their strategic planning to boost their market stance.
• In April 2020, BioChek successfully acquired BIOTECON Diagnostics. This acquisition helped merge the two businesses - Biochek's speciality in the research PCR-based solutions manufacturing for food safety diagnostics and BIOTECON Diagnostic's cutting-edge veterinary diagnostic equipment.

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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the botulinum immunodiagnostics market in its latest study, presenting a historical demand assessment of 2012-2021 and projections for 2022-2032.

The research study is based on the product (immunoassay kits & reagents {kits, primary antibodies, secondary antibodies, immunoassay substrates, immunoassay buffers}, analyzers and instruments, consumables and software), assay (ELISA, FIA, CLIA, LFA and others), purpose (research use and clinical use), application (clinical diagnostics, drug discovery, screening of diseases and disorders), and end-user (healthcare industry {human use, veterinary} and agriculture and food industry), across seven key regions of the world.

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