Immunoassay Systems Market is Expecting Worldwide Growth by 2017 – 2025
The global market for immunoassay systems is expected to be driven by adoption of immunoassay systems by academic and research institutes in U.S. and Europe. Moreover, continuous increase in R&D expenditures and increasing research grants and government funding to research laboratories would further increase the demand for immunoassay systems. Growing automation in diagnostic laboratories would demand the more use of automated immunoassay systems in order to fulfil the need for performing more in less cost. Recent advancements in multiples immunoassay and expansion of its applications in veterinary diagnostics and food contamination testing would expand the install base of immunoassay systems in these industries. However, stringent regulatory requirements and frequent recalls of immunoassay systems is the major factor limiting the growth of global immunoassay systems market. For instance, recently in July 2016, FDA announced recall of ADVIA Centaur XPT system due to defective results generated by system software.
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In recent there has not been much innovation in the immunoassay systems technology. However, manufacturers of immunoassay systems are cross collaborating with developers of immunoassay kits and reagents. Moreover, manufacturers who provide immunoassay kits and reagents for their own system are focusing to launch new or improved immunoassay kits in order to ensure the continuation of services and customer retention for already installed immunoassay systems.
The global market for immunoassay systems is segmented on basis of product type, technology, end user and geography:
Segmentation by Product Type
Fluorescence Immunoassay Systems
Chemiluminescence Immunoassay Systems
Nephelometric Immunoassay Systems
Radio Immunoassay Systems
Segmentation by Technology
Single Plex Immunoassay Systems
Multiplex Immunoassay Systems
Segmentation by End User
Academic and Research Institutes
Based on product type, fluorescence and chemluminescence immunoassay systems collectively contributed highest share in global immunoassay systems market so far. Based on end user, global immunoassay systems market has been segmented into diagnostic centers, pharmaceutical companies, academic and research institutes, government agencies and others. Diagnostic laboratories and pharmaceutical companies contribute highest share in global immunoassay systems maret.
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Regionally, global immunoassay systems market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America clearly dominates the global market for immunoassay systems due to huge install base and growing adoption of these systems in academics and research institutes. Europe is expected to be the second largest market for immunoassay systems owing to consolidation of immunoassay system providers and manufacturers in the region in recent years. Asia pacific immunoassay systems market is expected to witness impressive growth rate over the forecast period of 2017–2025, primarily due to high demand for immunoassay systems in Japan and Australia.
Some of the players identified in global immunoassay systems market include Siemens Healthcare Private Limited, Beckman Coulter, Inc. (Danaher Corporation), Thermo Fisher Scientific Inc., Promega Corporation, Immunodiagnostic Systems Inc., Bio Rad Laboratories Inc., EMD Millipore (Merck KGaA), F. Hoffmann-La Roche Ltd. etc. among others. All the companies operating in immunoassay systems market also provide immunoassay kits and reagents specific to their systems. Major players are trying to maximize their install base for immunoassay systems on the basis of long term contracts with the end customer to purchase reagents and kits specific to their immunoassay system.
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