Serological Testing Market Size, Share, Trends to Expand at 6-8% CAGR by 2027 Amid Rising Demand for Rapid Diagnostics and Infectious Disease Management

The Global Serological Testing Market will witness a growth rate of 6-8% by 2027. The global serological testing market is driven by the rising prevalence of acute and infectious diseases, the growing ageing population, technological advancements, and the rising adoption of point-of-care serological testing. Additionally expanding applications of serological testing, and the global impact of the COVID-19 pandemic has further spurred a substantial need for serological tests, contributing to the market expansion.

Serological testing refers to diagnostic methods that involve analyzing blood serum to detect the presence of specific antibodies, antigens, or other substances that indicate the presence of a particular infection, condition, or immune response. Serum is the liquid component of blood that remains after blood clots, and it contains various proteins, including antibodies produced by the immune system. Serological tests are commonly used to identify antibodies the immune system produces in response to infections. These tests can determine whether a person has been exposed to or is currently infected with a particular pathogen, such as a virus or bacterium. Serological testing helps assess the immune status of individuals, indicating whether they have developed immunity to a specific disease through vaccination or previous exposure. Serological testing plays a pivotal role in blood typing, crucial for blood transfusions and organ transplants, and determining blood group and Rh factor. The techniques for serological testing include ELISA, Western blot, agglutination tests, and fluorescent antibody tests, serving as invaluable tools in clinical laboratories for diagnosing and monitoring various medical conditions. Interpretation of results often requires consideration of the patient's clinical history, symptoms, and other diagnostic information.

Explore market trends, size, share and growth report - request a sample copy: https://meditechinsights.com/serological-testing-market/request-sample/

Serological Testing Market Dynamics: Trends, Automated Systems, and Demographic Influences

Several notable trends are shaping the landscape of the serological testing market including the rise in the prevalence of acute and infectious diseases. This trend underscores the essential role of serological tests in diagnosing and monitoring various health conditions, contributing to the market's growth. Another prominent trend is the increasing adoption of automated serological testing systems. These systems are designed to deliver faster and more accurate results, enhancing efficiency in diagnostic processes.

The global demographic shift towards an ageing population influences the demand for serological testing. As the elderly population grows, there is an increased need for diagnostic tools to address age-related health concerns, driving the market forward. There is an increasing emphasis on preventive healthcare, and serological tests play a vital role in early detection and prevention. This trend drives the adoption of serological testing as part of routine health check-ups and preventive healthcare measures. Growing investments in healthcare infrastructure and diagnostics, which include serological tests, play a pivotal role in fostering market growth. The adaptability and resilience of the healthcare sector, particularly in the context of global challenges like pandemics, are fostering innovation in serological testing. This adaptability ensures that the market evolves to meet the ever-changing requirements of healthcare systems globally.

Serological Testing: Advancements, Point-of-Care Revolution, and Digital Integration

The global impact of the COVID-19 pandemic has been particularly significant, shaping the diagnostics industry, with a substantial need for serological tests to detect SARS-CoV-2 antibodies, crucial for understanding immunity and exposure. The demand for serological testing has increased, driven by the need for accurate and efficient diagnostic tools for infectious diseases, autoimmune disorders, and other medical conditions. For instance,

In November 2023, Roche introduced Elecsys® HBeAg quant, an immunoassay capable of simultaneously detecting the presence and measuring the quantity of the hepatitis B e antigen (HBeAg) in human serum and plasma. This new assay enables patients to receive confirmation regarding the presence and extent of hepatitis B (HBV) when combined with other laboratory results and clinical information.

Serological testing applications are expanding, encompassing areas such as cancer marker detection, monitoring inflammatory markers, and assessing immunity status for vaccination programs. Ongoing research and development efforts within the field aim to elevate the sensitivity, specificity, and multiplexing capabilities of serological tests. There is a discernible focus on developing serological tests for autoimmune diseases, facilitating early diagnosis and monitoring of conditions such as rheumatoid arthritis and lupus. Another noteworthy development is the increasing adoption of point-of-care serological testing, enabling swift and convenient testing at the patient's location, a critical aspect, particularly in infectious disease screening. For instance,

In August 2021, Mylab Discovery Solutions collaborated with Hemex Health, a U.S.-based medical diagnostic device company dedicated to creating transformative global health products. The partnership aims to create advanced diagnostic solutions for Point-of-Care (POC) testing of coronavirus and various diseases. In this technology collaboration, Mylab will focus on developing test assays, while Hemex will contribute its Gazelle POC testing platform and expertise.

Furthermore, the integration of serological testing with healthcare information technology (IT) systems is rising. This integration facilitates seamless data management, electronic health record integration, and improved connectivity across healthcare settings.

Key Constraints/Challenges

Key restraining factors in the global serological testing market growth include the high costs associated with the implementation of test equipment and lack of skilled professionals, security and privacy concerns related to handling sensitive patient information, implementing quality control measures, keeping pace with rapid technological advancements and challenges in integrating serological testing with Electronic Health Records (EHR) systems. These factors impede the seamless adoption and expansion of serological testing solutions in the healthcare industry.

North America Accounts for the Largest Share of the Global Market

The global serological testing market is categorized into North America, Europe, Asia Pacific, and the Rest of the World. North America holds a leading position in the market, primarily attributed to the rising prevalence of infectious diseases, a robust healthcare infrastructure, favourable government policies, technological advancements and an increasing elderly population in the region. The Asia-Pacific region is anticipated to exhibit the highest growth rate during the forecast period. Key drivers contributing to this growth include a rising incidence of chronic and infectious diseases, heightened awareness among the population, and an increase in healthcare expenditure. This signifies a dynamic market landscape with varying regional influences and growth potentials.

Competitive Landscape

Major players included in the Serological Testing Market are Serological Research Institute (SERI), Chembio Diagnostic Systems, Inc., Cellex Inc., Advanced Diagnostics, Inc., Randox Laboratories Ltd., Eurofins Scientific, Abbott, BD, F. Hoffmann La-Roche Ltd., ELITechGroup, Immucor Inc., Thermo Fisher Scientific, Inc., Beckman Coulter, Inc., BioMedomics Inc., and Creative Diagnostics among others.

Explore the latest trends and deep insights in just one click: https://meditechinsights.com/serological-testing-market/

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Market

Players operating in this market are adopting both organic and inorganic growth strategies such as collaborations, and acquisitions to garner market share. For instance,

In November 2023, Roche unveiled automated serology tests for the hepatitis E virus (HEV), encompassing a diagnostic assay designed to identify acute HEV infections. The test aligns with the recommendations outlined in the recently updated 2023 Essential Diagnostics List by the World Health Organization (WHO)

In July 2023, Siemens Healthineers introduced the Atellica CI Analyzer, a compact testing system designed to address laboratory challenges. This analyzer is strategically engineered with unique features to optimize downtime, enhance laboratory efficiency, and improve profitability. Key capabilities, including random access sampling, micro-volume aspiration, and automated maintenance and quality control scheduling, empower labs to achieve more predictable sample turnaround times.

The market is expected to continue to grow due to the increasing emphasis on preventive healthcare, rising demand for serological test services, technological innovations, and aggressive organic and inorganic growth strategies followed by the players.

Latest Healthcare & Pharma Industry Research Reports

Oxygen Conservation Devices Market: https://meditechinsights.com/oxygen-conservation-devices-market/

Artificial Intelligence (AI) in Drug Discovery Market: https://meditechinsights.com/artificial-intelligence-in-drug-discovery-market/

CAR T-cell Therapy Market: https://meditechinsights.com/car-t-cell-therapy-market/

Contact:

Ruta Halde
Associate, Medi-Tech Insights
Phone: +32 498 86 80 79
Email: info@meditechinsights.com
Website: https://meditechinsights.com/

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

This release was published on openPR.