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Immunodiagnostics Market Size, Share, Trends Analysis And Forecasts(2024 - 2033)
Immunodiagnostics Market Size
According to The Business Research Company's, The immunodiagnostics market size has grown strongly in recent years. It will grow from $21.3 billion in 2023 to $22.9 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing incidence of infectious diseases, rise in autoimmune diseases, cancer diagnosis and monitoring, globalization of infectious diseases, public health initiatives and screening programs.
The immunodiagnostics market size is expected to see strong growth in the next few years. It will grow to $30.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to pandemic preparedness and response, personalized medicine and biomarker discovery, growing healthcare infrastructure in emerging markets, integration with laboratory information systems, rising burden of chronic diseases. Major trends in the forecast period include multiplexing technologies, point-of-care testing (poct), biomarker discovery and personalized medicine, rise of digital immunodiagnostics, shift towards liquid biopsy.
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Market Drivers and Trends:
The increasing prevalence of infectious diseases is expected to boost the growth of the immunodiagnostics market going forward. Infectious diseases refer to illnesses that transmit between people and are brought on by germs like viruses, bacteria, fungi, or parasites. An immunodiagnostic assay is used to identify a virus present in a blood sample. Hence, the increasing prevalence of infectious diseases is expected to boost the immunodiagnostics market. For instance, in July 2022, according to a report published by the Australian Institute of Health and Welfare, an Australia-based statutory agency that offers data and statistics about Australia's well-being and health, there were over 471,000 COVID-19 cases reported in Australia in 2021. Further, in 2021, there were around 86,000 cases of chlamydia, a sexually transmitted infection, and cases of campylobacter, a gastrointestinal illness, increased to 37,000. Therefore, the increasing prevalence of infectious diseases is driving the growth of the immunodiagnostics market.
Technological advancement is the key trend gaining popularity in the immunodiagnostics market. Major companies operating in the immunodiagnostics market are focusing on developing new technologies to sustain their market position. For instance, in May 2021, Cavidi AB, a Sweden-based developer and supplier of viral load solutions for human immunodeficiency virus (HIV) monitoring, launched Exazym, a signal-generating technology to bring ultra-sensitive detection levels to conventional immunodiagnostic assays. The signal-generating technology, allows traditional immunodiagnostic procedures to achieve ultra-sensitive detection levels. Cavidi Exazym is anticipated to improve present and future research, health screenings, and diagnostic testing. The use of Cavidi Exazym enables the detection of biomarkers that are outside the scope of available diagnostic techniques, enabling medical professionals to start treating patients even before the beginning of a serious illness.
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Major Key Players of the Market:
Abbott Laboratories; Arkray Inc.; bioMérieux Inc.; Immunodiagnostic Systems Holdings Plc (IDS); Bio-Rad Laboratories Inc.; DiaSorin S.p.A.; F. Hoffmann-La Roche Ltd.; Johnson & Johnson Services Inc.; Siemens AG; Sysmex Corporation; Thermo Fisher Scientific Inc.; Danaher Corporation; Qiagen N.V.; Tecan Trading AG; PerkinElmer Inc.; Merck KGaA; Becton Dickinson and Company; Grifols S.A.; Ortho Clinical Diagnostics; Beckman Coulter Inc.; Bio-Techne Corporation; Creative Diagnostics; Fujirebio Holdings Inc.; Gold Standard Diagnostics Corp.; Hologic Inc.; Luminex Corporation; Myriad Genetics Inc.; Natera Inc.; OraSure Technologies Inc.; Quidel Corporation
Immunodiagnostics Market 2024 Key Insights:
• The immunodiagnostics market will grow to $30.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Rising Prevalence Of Infectious Diseases Propelling Immunodiagnostics Market Growth
• Revolutionizing Immunodiagnostics With Technological Advancements In Healthcare Sector
• North America was the largest region in the immunodiagnostics market in 2023
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Key Companies Operating in this Market
Ortho-Clinical Diagnostics
Immunodiagnostic Systems (IDS)
Abbott…
