Immunoprotein Market Analysis By Key Growth Factors And Opportunities Forecasts To 2024

Immunoprotein is a protein type with immunological activity that provides immunity against substances or pathogenic organisms. These proteins are used as analytes for different disease diagnostic assays such as CLIA, ELISA, radioimmunoassay (RIA), and immunoturbidity assay. Immunoprotein testing products are continuously fueled with innovative technologies, expanding the boundaries of the immunoprotein market. The innovations lead to widening of scope for product applications in various fields such as infectious disease testing, allergy testing, drug abuse testing, and the most prominent being oncology. Extensive research in the field of oncology has resulted in various biomarkers being profiled, which are specific to a particular type of cancer.

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Increase in demand for quick and accurate disease diagnosis and rise in incidence of infectious and chronic diseases are the major factors that are likely to boost the growth of the immunoprotein market during the forecast period. Prevalence of diseases such as hepatitis, malaria, typhoid, HIV, tuberculosis, and cancer is a great concern for many countries. Majority of these diseases have high prevalence rate in underdeveloped economies; hence, demand for low cost but effective diagnostic tests is high. Diagnosis of these diseases in early stage may help in controlling infections and prevent mortalities. Immunoprotein diagnostic kits provide the best option for carrying out accurate and rapid diagnosis of the diseases. Although these tests are expensive as compared to routine microbiology assays, they provide faster and better results. However, the high cost of immunoprotein products restrains the growth of the market. In addition, low health care expenditure in underdeveloped countries and increase in awareness about medical services have led patients to seek cost-effective alternatives for diagnosis. These factors have been the major restraining forces for the growth of the immunoprotein market in developing and underdeveloped economies.

The global immunoprotein market has been segmented based on assay type, immunoprotein type, application, and geography. In terms of assay type, the market has been categorized into chemiluminescence assay, enzyme based immunoassay, immunofluorescence assay, immunoprotein electrophoresis, immunoturbidity assay, and radioimmunoassay (RIA). Based on the immunoprotein type, the market has been segmented into complement system proteins diagnostic tests, C-reactive protein (CRP) tests, free light chain tests, immunoglobulin diagnostic tests, prealbumin tests, and haptoglobin tests. Based on application, the market has been categorized into allergy testing, endocrine testing, autoimmune disease testing, infectious disease testing, oncology testing, and toxicology testing.

Geographically, the immunoprotein market is distributed over North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global market for immunoprotein products due to high awareness among people along with rapid increase in demand for technologically advanced immunoprotein products. The U.S. is a major contributor of the immunoprotein market with high adoption rate of technology advanced assay systems. North America holds a substantially large market share of the global market, which is followed by Europe. Prevalence of chronic diseases along with increase in demand for immunoprotein products from developed countries such as the U.K., Germany, and France is a major factor that has helped Europe retain its position in the global market. In the Asia Pacific region, increase in demand for immunoprotein products from countries such as India, China, and Japan is expected to boost the immunoprotein market in the next few years. In addition, increased incidences of infectious diseases and growing awareness about diagnostic testing for various diseases are key factors driving the Asia Pacific market. However, affordability and lack of availability for innovative immunoprotein products are the restraining factors of the immunoprotein market in developing and undeveloped regions such as Middle East & Africa and Latin America. Despite of this, market in these regions is expected a slow growth with contribution from developing countries such as Brazil and South Africa. Latin American countries such as Mexico and Brazil are expected to have considerable potential for driving the immunoprotein market growth due to evolving medical structure and increase in awareness about diagnostic testing.

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The major players operating in this market include Abbott Laboratories, Inc., Abcam plc, DiaSorin S.p.A., Enzo Life Sciences, Inc., FUJIREBIO Diagnostics, Inc., Omega Diagnostics Group PLC, Roche Holding AG, Siemens AG, The Binding Site Group Ltd., and Thermo Fisher Scientific, Inc.

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This release was published on openPR.