Press release
Immunoprotein Diagnostic Testing Market Growth Will Reflect Significant Growth Prospects during 2022-2027
The global immunoprotein diagnostic testing market was valued at $10.13 billion in 2019 and is projected to reach $18.38 billion by 2027, registering a CAGR of 6.6% from 2020 to 2027.
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Rise in prevalence of cancer & cardiovascular diseases drive the growth of the immunoprotein diagnostic testing market. In addition, rise in healthcare expenditure and improvement in healthcare insurance scenario are expected to fuel the market growth during the study period. However, dearth of skilled healthcare professionals and lack of awareness among the population hamper the market growth.
COVID-19 scenario:
Due to lockdown across the globe, there is significant gap in supply and demand. Moreover, the supply chain has been disrupted.
However, the demand for immunoprotein diagnostic testing is increasing as it could be used to diagnose cardiovascular and infectious diseases.
The global immunoprotein diagnostic testing market is segmented based on type, application, technology, and region. Based on technology, the immunoprotein diagnostic testing market is classified into radioimmunoassay, immunoturbidity assay, immunoprotein electrophoresis, enzyme-linked immunosorbent assay, and others. The enzyme-based immunosorbent assay segment held the largest share of 65.27% in 2019, owing to wide application of enzyme-based immunoassay.
The oncology testing segment to manifest the highest share
By type, the oncology testing segment is expected to manifest the highest CAGR of 8.0% during the forecast period, due to increasing number of cancer patients worldwide. However, the infectious disease testing segment held the largest share in 2019, contributing to more than one-fifth of the global immunoprotein diagnostic testing market, owing to higher prevalence of infectious diseases such as hepatitis B, hepatitis C, HIV-1, HIV-1/2, and human T-lymphotropic virus types I & II.
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North America held the lion's share
By region, the market across North America held the largest share in 2019, accounting for around two-fifths of the market, owing to increase in demand for quick diagnostic services to detect chronic diseases, ongoing trend of preventive healthcare, and rise in the number of drug abuse and allergy cases. However, the global immunoprotein diagnostic testing market across Asia-Pacific is projected to portray the highest CAGR of 7.7% during the forecast period, due to increase in the number of patients suffering from chronic diseases and improvement in healthcare facilities in the region.
Major market players
Abbott Laboratories
Bio-Rad Laboratories
Abcam PLC
Diasorin
Danaher Corporation
Ortho Clinical Diagnostics
Enzo Life Sciences
Siemens Healthcare
Roche Diagnostics
Thermo Fisher Scientific
Media Contact
Onkar Sumant | Manager, Life Sciences
Allied Market Research
Toll Free: +1-800-792-5285
media@alliedmarketresearch.com
About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP. AMR provides global enterprises as well as medium and small businesses with unmatched quality of market research reports and business intelligence solutions. The company's experienced team of analysts and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
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