Immunoassay Market Was Valued at USD 25,737.2 million in 2021, with Rising Demand for Enzyme Immunoassays

According to Precision Business Insights (PBI) latest report, the global immunoassays market is expected to be worth USD 27,049.8 million in 2022, growing at a 5.1% CAGR from 2022 to 2028. Global Immunoassay Market by Type (Radioimmunoassay (RIA), Enzyme Immunoassays (EIA), Fluoroimmnoassay (FIA), Chemiluminescence immunoassay (CLIA), and Others), By Application (Disease Diagnosis, Therapeutic Drug Monitoring, Drug Discovery, Clinical Chemistry, Hematology, and Others), By End User (Hospitals, Pharma & Biotech Companies, Clinical Laboratories and Others), and Geography Forecast to 2028.

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Enzyme Immunoassays Dominate the Immunoassay Market:
Based on its application, it is segmented into Radioimmunoassay (RIA), Enzyme Immunoassays (EIA), Fluoroimmnoassay (FIA), Chemiluminescence immunoassay (CLIA), and Others. Enzyme Immunoassays accounted for 37.3% of the market and are expected to grow at a CAGR of 4.9% between 2022 and 2028, increasing demand in disease diagnosis and clinical chemistry applications.

Asia Pacific Leads Immunoassay Market:
The Asia Pacific holds a market share of 28.3% in the immunoassay market in the forecast period, and it is projected to grow at a CAGR of 4.8% in the coming years. The Asia Pacific is the fastest-growing market owing to the presence of a large geriatric population and the high prevalence of infectious diseases in this region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global immunoassay market further reveals that the key players increasingly adopting strategies such as the launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region. For instance, In February 2021, Thermo Fisher Scientific Inc. acquired the private point-of-care molecular diagnostic company Mesa Biotech.

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Key player profiles in the report are Bio-Rad Laboratories Inc., Thermo Fisher Scientific, EMD Millipore (Merck KGaA., Becton, Dickinson, and Company, Microsynth AG, Quansys Biosciences Inc., QIAGEN N.V., F. Hoffmann-La Roche Ltd., Danaher Corporation, and Luminex Corporation.

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