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Immunoassay Market worth $42.90 billion by 2030, growing at a CAGR of 7.24% - Exclusive Report by 360iResearch
Immunoassay Market | 360iResearch
The Global Immunoassay Market to grow from USD 26.30 billion in 2023 to USD 42.90 billion by 2030, at a CAGR of 7.24%.
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An immunoassay is a highly sensitive and specific biochemical technique used to quantify or detect a wide range of molecules, including proteins, hormones, antibodies, and other biologically relevant substances. The growth of the immunoassay market can be attributed to several influencing factors, such as the increasing prevalence of chronic diseases, rising demand for personalized medicine, expanding use of immunoassays in oncology diagnostics, and advancements in technology leading to higher throughput capabilities with improved accuracy. Moreover, the COVID-19 pandemic has also contributed significantly to the growth of this market due to the surge in demand for rapid testing solutions. However, high costs associated with advanced immunoassay systems may hamper their adoption by smaller laboratories or resource-limited settings. Additionally, stringent regulatory guidelines regarding product approvals can prolong the time to market for new products. To overcome these challenges and sustain business growth in the immunoassay market, organizations are exploring potential areas of innovation and research, including focusing on R&D efforts to create cost-effective solutions that cater to a wider user base across different healthcare settings worldwide. Additionally, collaborating with academic institutions and research centers to foster breakthrough innovations in assay design, targeting novel analytes or applications not currently addressed by existing products. Along with these, market participants are developing novel biomarkers for the early detection of diseases, leading to an expansion in clinical applications of immunoassays.
In the Americas, the United States and Canada have witnessed a growing demand for immunoassays due to a rising prevalence of chronic diseases such as cancer and cardiovascular disorders. Increasing healthcare spending in these countries has also supplemented increased focus on early detection of diseases; laboratories are investing heavily in advanced technologies such as enzyme-linked immunosorbent assays (ELISA) and chemiluminescence immunoassays (CLIA). Apart from these, recent patents filed in this region encompass improvements in assay sensitivity and specificity while reducing cross-reactivity issues. In EU countries, the Middle East and Africa region has seen significant growth in the immunoassay market due to rising consumer health awareness. Initiatives led by governments and healthcare organizations have bolstered public investment in diagnostic services. Key players in this market focus on developing new products catering to specific regional customer requirements. Emerging countries across the Asia Pacific, such as India and China, present a considerable growth opportunity for immunoassay manufacturers due to increasing healthcare expenditure, rising prevalence of chronic diseases requiring diagnostic testing services, improving laboratory infrastructure, and growing awareness about early disease detection. Furthermore, customizing products to cater to specific disease patterns in emerging markets has helped expand key profiles. Additionally, the regional government has launched several initiatives to promote public-private partnerships in developing innovative diagnostic methods, providing support and investment for academic institutions and private enterprises.
Market Segmentation & Coverage:
This research report categorizes the Immunoassay Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Analyzer and Consumables. The Consumables is further studied across Assay Kits, Microwell Plates & Tubes, and Reagents. The Consumables commanded largest market share of 47.19% in 2023, followed by Analyzer.
Based on Technology, market is studied across Chemiluminescence Immunoassay, Enzyme-linked Immunosorbent Assay, Fluoroimmunoassay, Radioimmunoassay, and Rapid Diagnostic Tests (RDTs)/Lateral Flow Immunoassay. The Enzyme-linked Immunosorbent Assay commanded largest market share of 37.96% in 2023, followed by Rapid Diagnostic Tests (RDTs)/Lateral Flow Immunoassay.
Based on Specimen, market is studied across Blood, Saliva, and Urine. The Blood commanded largest market share of 40.16% in 2023, followed by Saliva.
Based on Indication, market is studied across Cardiology, Endocrinology, Infectious Disease, Oncology, and Orthopedics. The Infectious Disease commanded largest market share of 30.15% in 2023, followed by Oncology.
Based on End User, market is studied across Blood Banks, Diagnostics Laboratories, Food & Beverage Companies, Hospitals, Pharmaceutical Companies & CROs, and Research & Academic Laboratories. The Diagnostics Laboratories commanded largest market share of 23.20% in 2023, followed by Pharmaceutical Companies & CROs.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 40.22% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Immunoassay Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Immunoassay Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Immunoassay Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Agilent Technologies Inc., Almac Group Limited, ANP Technologies, Inc., Autobio Diagnostics Co., Ltd., Becton, Dickinson, and Company, Bio-Rad Laboratories, Inc., Bio-Techne Corporation, BioLegend, Inc., bioMérieux S.A., Biosurfit SA, Boditech Med Inc., Charles River Laboratories International, Inc., Danaher Corporation, Diasorin S.p.A., Dynex Technologies, Inc., Epitope Diagnostics Inc., F. Hoffmann-La Roche Ltd., Fapon Biotech Inc., Gyros Protein Technologies AB, H.U. Group Holdings Inc., J. Mitra & Co. Pvt. Ltd., Kamiya Biomedical Company, Koninklijke Philips N.V., Merck KGaA, MiCo BioMed, Inc., NanoEntek, Nanōmix, Inc., OPKO Health, Inc., PerkinElmer, Inc., Promega Corporation, QIAGEN N.V., Quanterix Corporation, QuidelOrtho Corporation, Randox Laboratories Ltd., Shenzhen Micropoint Biotechnologies Co., Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens Healthineers AG, Sysmex Corporation, Tecan Trading AG, Thermo Fisher Scientific Inc., Tosoh Corporation, WAK-Chemie Medical GmbH, Zoetis Inc., and Zybio Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Immunoassay Market, by Product
7. Immunoassay Market, by Technology
8. Immunoassay Market, by Specimen
9. Immunoassay Market, by Indication
10. Immunoassay Market, by End User
11. Americas Immunoassay Market
12. Asia-Pacific Immunoassay Market
13. Europe, Middle East & Africa Immunoassay Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Immunoassay Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Immunoassay Market?
3. What is the competitive strategic window for opportunities in the Immunoassay Market?
4. What are the technology trends and regulatory frameworks in the Immunoassay Market?
5. What is the market share of the leading vendors in the Immunoassay Market?
6. What modes and strategic moves are considered suitable for entering the Immunoassay Market?
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