Immunodiagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product [Enzyme-Linked Immunosorbent Assays (ELISA), Chemiluminescence Immunoassays (CLIA), Radioimmunoassays (RIA), and Others], By Clinical Indication (Infectious Disease

Growing Use of Point-of-Care Immunodiagnostics to Drive Immunodiagnostics Market

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According to our new market research study on ""Immunodiagnostics Market to 2028 - Global Analysis and Forecast - by Product, Clinical Indication, and End User,"" the market is expected to grow from US$ 17,948.62 million in 2021 to US$ 29,526.72 million by 2028; it is expected to grow at a CAGR of 7.4% from 2022 to 2028. The report highlights trends prevailing in the market, and drivers and restraints pertaining to the global immunodiagnostics market growth.

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The current trend in immunodiagnostics is microfluidics and magnetic beads with potential commercialization. These sensitive, specific, and time-saving methodologies are essential in understanding and diagnosing health conditions, including infectious diseases, metabolic disorders, and cardiac problems.

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The increasing applications of immunodiagnostic solutions encouraged the development of targeted treatments and therapies for precision health. The prominent market players are also propelling the use of assay technology and adopting microfluidics and magnetic beads. For immunoassays, magnetic particles, such as Sera-Mag beads, offer a convenient alternative to plate-based ELISAs, as both rely on the same assay principle. Merck KGaA launched the Magna Chip Protein A magnetic beads. This recombinant Protein A is covalently bound to magnetic beads for chromatin immunoprecipitations (Chip assays) and provides users with a rapid, reproducible, and efficient reagent for collecting immunocomplexes than agarose beads.

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In microfluidics, some immunodiagnostics target single biomarkers. However, a recent trend shows the detection of multiple analytes according to the complexity and the need to make early reliable diagnoses. For example, in 2019, OPKO Health Inc. gained approval from the US Food and Drug Administration (FDA) for prostate-specific antigen (PSA) testing that improves the accuracy of prostate cancer diagnosis and reduces unnecessary prostate biopsies. OPKO Health's test uses microfluidics, a recent development in immunodiagnostics, to assay an array of biomarkers. On September 15, 2022, Siemens Healthineers released its new CE-marked SARS-CoV-2/FluA/FluB/HRSV assay, a PCR test, and the CLINITEST Rapid COVID-19 + Influenza Antigen Test. The new FTD SARS-CoV-2/FluA/FluB/HRSV assay enables comprehensive and semi-automated molecular testing for seasonal respiratory pathogens. The combination PCR test detects and differentiates clinically relevant viruses such as SARS-CoV-2, Influenza A, Influenza B, and HRSV A/B.

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North America holds the largest share of the immunodiagnostics market; however, Asia Pacific is expected to register the highest CAGR during the forecast period. The North America immunodiagnostics market growth is attributed to factors such as the growing prevalence of various diseases, government support for advanced diagnostics adoption, and increasing efforts in R&D and other activities undertaken by market players. In addition, technological advancements in the diagnosis industry are likely to be a major market driver in the coming years.

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The immunodiagnostics market in the US is expected to grow from US$ 7,754.51 million in 2021 to US$ 12,554.05 million by 2028; it is expected to grow at a CAGR of 7.2% from 2022 to 2028. The US is also experiencing growing prevalence and incidences of chronic conditions such as cancer and infectious diseases. Further, the US government is taking various measures to control the rising prevalence of chronic disorders. The country is spending heavily on healthcare expenditure that enables researchers to introduce various innovative procedures for the treatment of several chronic conditions. Hence, owing to the above-mentioned factors, the US contributed to the largest share of the market during the forecast period.

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Abbott Laboratories; F. Hoffmann-La Roche Ltd; DiaSorin S.p.A.; Danaher Corp; Thermo Fisher Scientific Inc; PerkinElmer Inc.; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; bioMerieux SA; Svar Life Science AB; and Siemens Healthineers AG are the leading companies operating in the global immunodiagnostics market.

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Global Immunodiagnostics Market, by Region, 2021 (%)

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Source: The Insight Partners Analysis

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By geography, the immunodiagnostics market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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