Global Immunoassays Market is expected to record a positive CAGR of ~6% during the forecast period (2022-2028): Ken Research

What Is the Size of Global Immunoassays Industry?

Global Immunoassays market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Immunoassays Market is largely driven rising prevalence of chronic, and infectious diseases, including COVID-19, HIV/AIDS, dengue, foodborne disease, and other diseases.

In addition, the cost-effectiveness and higher efficiency of immunoassay tests also make a significant contribution to their growth. For instance, the WHO Pan American Health Organization (PAHO) reported 21,41,240 dengue cases in the Americas, including 10,53,420 confirmed cases and 927 associated deaths, as of August 2022. In addition, Brazil (19,10,657), Peru (57,469, and Ecuador have reported the most cases (12,645) during the same period.

In addition, according to the study conducted in 2021 by Food Security Cluster, an Italian non-profit organization that outlines food availability, access, and utilization issues, more than 600 million individuals (one in ten) globally, become ill with the foodborne disease each year, and 420,000 die.

Furthermore, the Covid-19 pandemic has also accelerated the use of immune-diagnostics assays for correct diagnosis and containment of the Covid-19 pandemic. In addition, immunoassay tests are highlighted as an important diagnostic method as they enable reliable and affordable detection of viruses and bacteria. Such tests are used to detect both acute and chronic diseases.

Global Immunoassays Market by type

The Global Immunoassays market is segmented by Type into Reagents & Kits Analyzers/Instruments and Software & Services. Reagents & Kits hold the largest share of the Global Immunoassays Market in 2022. Reagents/kits are a preferable type of product for immunoassay testing as they offer a quick, simple, and cost-effective method of detection with accuracy and specificity considerably better (in some cases) than other methods.

The global outbreak of Covid-19 has prompted governments to impose critical measures to prevent its spread, which focus primarily on accurate and prompt identification of virus-infected individuals using the most precise and sensitive method available, notably real-time reverse transcriptase PCR (RT-PCR). This has raised the global demand for detection kits.

Global Immunoassays Market by application

The Global Immunoassays Market is segmented by Application into Cardiology, Oncology, Autoimmune Diseases, Infectious Diseases and Others. The infectious disease segment held the largest market share in 2022. The rising global prevalence rate of infectious diseases such as HIV/AIDS, malaria, dengue fever, influenza, and Covid-19 is one of the major factors driving the demand for immunoassays tests for infectious diseases. For instance, according to the world health organization (WHO), influenza leads to around 3 to 5 million serious cases and 250,000 to 500,000 deaths worldwide every year.

Global Immunoassays Market by End-user

The Global Immunoassays market is segmented by End-User into Hospital & Clinics, Clinical Laboratories, Pharmaceuticals & Biotech Companies, Blood Banks, Academic Research Centers and Others. The Hospitals & Clinics segment account for the majority share of the Global Immunoassays Market in 2022.

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The continuous development in the healthcare industry across countries has raised the requirement for hospitals with advanced techniques and facilities. The growing number of infectious diseases tested during the assessments and processing of body fluids, particularly following the worldwide explosion of the Covid-19 pandemic, are other major factors influencing the demand for immunoassays tests in hospitals and clinics.

Global Immunoassays Market by Technology

The Global Immunoassays market is segmented by Technology into Radio immunoassay (RIA), Enzyme Immunoassays (EIA) or Enzyme-linked, immunosorbent assays (ELISA), Fluoro Immunoassay (FIA), Chemiluminescence Immunoassay (CLIA) and Others. The Enzyme Immunoassays (EIA)/Enzyme-linked immunosorbent assays (ELISA) technology segment dominated the market for immunoassays in 2022. This technology's accuracy and ability to provide quick results is a major driving factor. In addition, ELISA's simple procedure, high specificity and sensitivity, cost-effectiveness, and high efficiency are all contributing factors to its growth.

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Market Taxonomy

By Type

Reagents & Kits
Analyzers/Instruments
Software & Services

By Application

Cardiology
Oncology
Autoimmune Diseases
Infectious Diseases
Others

By Technology

Radio immunoassay (RIA)
Enzyme Immunoassays (EIA) or Enzyme-linked immunosorbent assays (ELISA)
Fluoro Immunoassay (FIA)
Chemiluminescence Immunoassay (CLIA)
Others

By End User

Hospital & Clinics
Clinical Laboratories
Pharmaceuticals & Biotech Companies
Blood Banks
Academic Research Centers
Others

By Geography

North America (U.S., Canada, Mexico)
Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)
Latin America, Middle East and Africa

For more insights on the market intelligence, refer to below link:-

https://www.kenresearch.com/business-research/global-immunoassays-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.