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Chemiluminescence Immunoassay Market worth $19.0 billion |

03-18-2024 12:46 PM CET | Health & Medicine

Press release from: MarketsandMarkets

Chemiluminescence Immunoassay Market

Chemiluminescence Immunoassay Market

Chemiluminescence Immunoassay Market in terms of revenue was estimated to be worth $13.2 billion in 2023 and is poised to reach $19.0 billion by 2028, growing at a CAGR of 7.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. Growth in the chemiluminescence immunoassay market is mainly driven by the growing prevalence of chronic diseases, Advancements in improving chemiluminescence immunoassay technologies in recent years, rising demand for point-of-care testing (POCT), growth of biotechnology and biopharmaceutical industries, and a rapid increase in geriatric population globally. In addition, emerging markets such as India and China are expected to offer growth opportunities for players operating in the chemiluminescence immunoassay market during the forecast period. However, the high cost of CLIA systems is restricting the growth of this market.

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In 2022, the consumables segment held the largest share of the chemiluminescence market, by product segment

Based on product, the global chemiluminescence immunoassay market is categorized into consumables and instruments. The repetitive purchase of consumables such as reagents for every test is a major factor driving the growth of the segment. Besides the availability of efficient assays and reagents for diagnostic purposes has propelled its demand among end users.

In 2022, the infectious disease diagnostics segment held the largest share of the chemiluminescence market, by application segment

The chemiluminescence immunoassay market, by application, has been segmented into infectious diseases, endocrinology, oncology, bone & mineral disorders, cardiology, blood screening, autoimmune disorders, allergy diagnostics, toxicology, newborn screening, gastroenterology, neurology, respiratory, therapeutic drug monitoring, metabolic disorders, and other applications. The large share of this segment can be attributed to the development and introduction of advanced assays for the diagnosis of different diseases & conditions, and the increase in the population with infectious diseases.

North America dominates the global chemiluminescence immunoassay market

Based on the region, the chemiluminescence immunoassay market is segmented into North America, Europe, Asia Pacific, and Rest of the world. In 2022, North America accounted for the largest share of the chemiluminescence immunoassay market. The large share of North America in this market can be attributed to the increasing prevalence of infectious diseases and cancer and rising healthcare spending, which is highly developed in the US and Canada.

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Chemiluminescence Immunoassay Market Dynamics:

Drivers:

1. Rising incidence of chronic and infectious diseases across the globe

Restraints:

1. High cost of CLIA related products

Opportunities:

1. Increasing number of collaborations and partnerships in the CLIA market

Challenges:

1. Lack of skilled professionals and aging workforce

Key Market Players:

The major players operating in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Siemens Healthineers AG (Germany), DiaSorin S.p.A. (Italy), Abbott Laboratories (US), Shenzhen Mindray Bio-medical Electronics Co., Ltd. (China), Sysmex Corporation (Japan), Diatron (Hungary), Getein Biotech, Inc. (China), Werfen (Spain), QuidelOrtho Corporation (US), EUROIMMUN (Germany), Merck KGaA (Germany), Tosoh Corporation (Japan), Trivitron Healthcare (India), Abnova Corporation (Taiwan), Elabscience (US), Maccura Biotechnology Co., Ltd. (China), Autobio Diagnostics Co., Ltd. (China), Jiangsu Zecen Biotech Co., Ltd (China), Rayto Life and Analytical Sciences Co., Ltd. (China), Daan Gene Co., Ltd. (China), DYNEX TECHNOLOGIES, Inc. (US), Zybio, Inc. (China), Wiener Laboratorios SAIC (Argentina), Tianjin Era Biology Technology Co., Ltd. (China).

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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