Immunoassay Instruments Market Analysis by Application, Revenue and Trend 2017-2021

Immunoassay instruments market is broadly segmented into chemiluminescence analyzers, enzyme immunoassay analyzers, immunofluorescence assay analyzers, colorimeters, radioimmunoassay analyzer and others. Adoption of chemiluminescence in immunoassay arena is increasing rapidly. Higher sensitivity and accuracy as compared to ELISA are major reasons driving the increased adaption. However, higher installed base and loyalty with ELISA has been a major restraint. Immunofluorescence is less frequently used with application in infectious disease diagnosis and cancer diagnosis.

Immunoassays are performed at regular basis at hospitals and diagnostic centers for routine disease diagnosis. Rapid and accurate disease diagnosis has enabled hospitals in reducing patient mortality and morbidity, and also in reducing hospital stay. Immunoassays also contribute immensely to pharmaceutical and biotechnological research. Immunoassay instruments market is largely driven by developments in biotechnology and efficient amalgamation with electronic systems. Currently available immunoassay instruments in the market are compact and automated devices with ability to analyze multiple parameters. Increased sensitivity, multiplexing and expanding scope in varied diagnostic areas are other factors driving market growth. Cost of reagents and kits required to perform tests has also witnessed price reduction. Thus proving investment in immunoassay instruments a feasible long term approach for hospitals.

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Immunoassay instruments are widely applied in varied disease areas such as diabetes, thyroid, fertility, blood disorder, autoimmune, cardiac, infection, and cancer. Increasing understanding about disease progression, discovery of novel biomarkers involved in critical diseases such as cancer, cardiac disorders, neurological disorders and others has helped in introduction of newer products in the market.

Prevalence of chronic diseases is increasing globally, demanding rapid and preventive measures to curb the crisis. According to World Health Organization (WHO) over 422 million individuals were recorded having diabetes in 2014 globally. An article published by CNN in 2016 mentions that U.S., U.K., Canada and South Korea recorded lowest rate of hypertension globally; while Australia, China, Russia and China were among the top countries with high hypertension prevalence. The data also stated that over 400 million hypertension patients were found in India and China alone. Hypertension is expected to cause over 7.5 million mortalities globally which accounts for 12.8% of the total mortalities. Cancer is also among the leading causes of deaths globally with approximately 14 million new cases and 8.2 million cancer related deaths recorded in 2012 by the World Health Organization (WHO).

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Larger installed base of immunoassay instruments in North America and Europe has left lesser scope for expansion as compared to other regions with developing healthcare sector such as Asia Pacific, and Latin America. Low income countries are still reluctant to invest in purchase of new devices as smaller volume of tests would not justify the investment.

Key players in the market include Abbott Laboratories, bioMerieux, DiaSorin S.p.A, Siemens Healthcare, Perkin Elmer, Roche Diagnostics, and Thermo Fisher Scientific.

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