Immunoassay Market Expected to Reach USD 50.95 Billion by 2034, Growing at a CAGR of 4.4%

The immunoassay market was valued at USD 32.85 billion by 2024. The market is projected to reach a value of USD 50.95 billion by 2034, registering a CAGR of 4.4% during the forecast period.

Market Introduction:
An immunoassay is a laboratory test that utilizes the specific binding between antibodies and antigens to detect and measure the presence or concentration of a target substance in a sample. This test is widely used in various fields like clinical diagnostics, research, and environmental monitoring. The process relies on the high specificity and affinity between an antibody and its corresponding antigen. The antibody, often labeled with a detectable marker (e.g., enzyme, radioactive isotope, fluorophore), is used to identify the presence and concentration of the antigen. The amount of signal produced is proportional to the amount of antigen present in the sample, allowing for quantification. Immunoassays are widely used in clinical diagnostics, research, and industrial settings. They are also used to study the immune response to a particular drug during its development.

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Growth Drivers:
• The increasing prevalence of chronic diseases and the rising demand for advanced diagnostic technologies are driving the market growth.

• The rising prevalence of chronic diseases worldwide is driving the immunoassay market demand.

• The expanding healthcare infrastructure in emerging economies and the rising investments in healthcare are boosting market expansion.

• Rising focus on personalized medicine and the increasing need for therapeutic drug monitoring in oncology and cardiology are fueling the need for immunoassays.

Competitive Landscape Analysis:
The immunoassay market competitive environment features a combination of well-established firms and rising companies aiming to gain market share in an industry that is experiencing rapid growth. Some of the major key players include:
• Abbott
• BD
• Beckman Coulter, Inc.
• BIOMÉRIEUX
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche Ltd
• QuidelOrtho Corporation
• Siemens Healthineers AG
• Sysmex Corporation
• Thermo Fisher Scientific Inc.

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Immunoassay Industry Developments
• October 2024: Bio-Rad launched the EQAS Specialty Immunoassay program, which combines 13 analytes to improve clinical utility, reduce costs, and simplify proficiency testing.

• July 2024: Beckman Coulter unveiled the DxC 500i Analyzer, a compact, integrated solution for clinical chemistry and immunoassays, offering scalability, efficiency, user-friendly workflows, and Six Sigma performance.

• September 2023: Thermo Fisher received FDA clearance for the first automated Chromogranin A test, allowing labs to monitor tumor progression in patients with gastroenteropancreatic neuroendocrine tumors, thus enhancing patient management and treatment evaluation.

Segmental Analysis
• The segmentation of the immunoassay market is done based on technology, products, specimen, application, end users, and region.

• By product, the reagents & kits segment held the largest market share in 2024, attributed to the rising incidence of chronic and infectious diseases.

• The blood segment, based on specimen, experienced significant market expansion in 2024 due to its broad use as a sample in numerous end-user sectors like hospitals, clinics, and laboratories.

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By Products Outlook (Revenue, USD Billion, 2021-2034)
• Reagents & Kits
o ELISA Reagents & Kits
o Rapid Test Reagents & Kits
o ELISPOT Reagents & Kits
o Western Blot Reagents & Kits
o Other Reagents & Kits
• Analyzers/Instruments
o Open Ended Systems
o Closed Ended Systems
• Software & Services

By Technology Outlook (Revenue, USD Billion, 2021-2034)
• Radioimmunoassay (RIA)
• Enzyme Immunoassays (EIA)
o Chemiluminescence Immunoassays (CLIA)
o Fluorescence Immunoassays (FIA)
• Rapid Tests
• Others

By Specimen Outlook (Revenue, USD Billion, 2021-2034)
• Blood
• Saliva
• Urine
• Others

By Application Outlook (Revenue, USD Billion, 2021-2034)
• Therapeutic Drug Monitoring
• Oncology
• Cardiology
• Endocrinology
• Infectious Disease Testing
• Autoimmune Diseases
• Others

By End Users Outlook (Revenue, USD Billion, 2021-2034)
• Hospitals
• Laboratories
• Others

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Regional Overview:
• North America
o US
o Canada

• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific

• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

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