Press release
Immunoassay Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Immunoassay
What Is the Current Immunoassay Market Size and Its Estimated Growth Rate?
The magnitude of the immunoassay market has shown robust development in prior years. The market is set to expand from a valuation of $35.81 billion in 2024 to $37.63 billion come 2025, thanks to a compound annual growth rate (CAGR) of 5.1%. Factors that have contributed to its growth historically include the prevalence of disease, an increase in the elderly population, outbreaks of infectious diseases, implementation of point-of-care testing, and a rise in research funding.
The size of the immunoassay market is predicted to experience robust growth in the coming years. The market value is set to reach $50.12 billion in 2029, with a compound annual growth rate (CAGR) of 7.4%. Factors such as personalized medicine, development in emerging markets, preparedness for pandemics, cancer diagnostics, and a shift towards home-based testing could fuel this growth. During the forecast period, significant trends like efforts towards regulatory harmonization, multipurpose immunoassays, tailored assay services, assimilation with wearable devices, and downsizing of assays are anticipated.
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What Are the High-Growth Segments in the Immunoassay Market?
The immunoassay market covered in this report is segmented -
1) By Product: Reagents And Kits, Analyzers Or Instruments, Software And Services
2) By Specimen: Blood, Saliva, Urine, Other Specimens
3) By Application: Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Disease Testing, Autoimmune Diseases, Other Applications
4) By End User: Research And Academic Laboratories, Home Care Settings, Pharmaceutical And Biotechnology Companies And CROs, Blood Banks, Hospitals And Clinics, Clinical Laboratories
Subsegments:
1) By Reagents And Kits: ELISA Kits, Rapid Test Kits, Control Reagents, Assay Development Reagents
2) By Analyzers Or Instruments: Automated Analyzers, Point-Of-Care Testing Devices, Microplate Readers, Luminometers
3) By Software And Services: Data Management Software, Analytical Software, Support And Maintenance Services, Consulting Services
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What Key Drivers Are Expected to Influence Future Immunoassay Market Growth?
The growth of the immunoassay market is likely to be driven by the rising instances of infectious and chronic diseases. Chronic diseases are commonly defined as those which last for more than a year, requiring consistent medical attention and often limiting daily activities. Infectious diseases, on the other hand, are conditions triggered by organisms like bacteria, viruses, fungi, or parasites. Many of these organisms live within the human body, and numerous infectious diseases can spread from one individual to another. Immunoassays are used to identify various infectious and chronic diseases. For example, a study by the US-based biomedical research organization, National Institutes of Health (NIH), projected in 2023 that the number of individuals over the age of 50 suffering from at least one chronic illness will increase by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Similarly, the number of people with multiple diseases is set to increase by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Hence, the escalating cases of infectious and chronic diseases are expected to fuel the market growth.
Which Companies Hold the Largest Share Across Different Immunoassay Market Segments?
Major companies operating in the immunoassay market include Siemens Healthineers GmbH, bioMérieux, Abbott, Beckman Coulter Inc., Quidel Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Bio-Rad Laboratories Inc., Becton Dickinson and Company, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Merck KGaA, Agilent Technologies Inc., PerkinElmer Inc, WAK-Chemie Medical GmbH, J Mitra & Co Pvt Ltd, Kamiya Biomedical Company, Tosoh Corporation, Gyros Protein Technologies AB, BioCheck Inc., Bio-Techn, DiaSorin S.p.A, Meso Scale Diagnostics LLC, QIAGE, Randox Laboratories Ltd., Shenzhen Mindray Bio-Medical Electronics Co Ltd, Danaher Corporation, Hologic Inc., Tecan Trading AG, Eurofins Scientific, Abcam plc, Enzo Biochem Inc., Luminex Corporation, Quanterix Corporation, Roche Diagnostics, ZEUS Scientific Inc.
What Trends Are Driving Growth in The Immunoassay Market?
The immunoassay market is seeing an increasing trend in product innovation. The primary focus of many large companies within the sector is the development of groundbreaking products to secure their market position. For example, Getein Biotech Inc., a biotech firm based in China that specialises in the production, sale, service, R&D of in vitro diagnostic reagents and devices, unveiled the MAGICL 6000 at MEDICA 2022 in November. MAGICL 6000 is a highly efficient, compact chemiluminescence immunoassay analyzer that is designed as the best solution for laboratories with medium to high workflow demands for a one-step chemiluminescence solution. It is completely automatic, and boasts the fastest evaluation frequency of any device of its size.
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What Are the Emerging Geographies for The Immunoassay Market Growth?
North America was the largest region in the immunoassay market in 2024. Asia-Pacific is expected to be the fastest-growing region in the immunoassay market report during the forecast period. The regions covered in the immunoassay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Immunoassay Market?
2. What is the CAGR expected in the Immunoassay Market?
3. What Are the Key Innovations Transforming the Immunoassay Industry?
4. Which Region Is Leading the Immunoassay Market?
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