Automated Immunoassay Analyzers Market share forecast to surpass $25bn by 2024

The medical industry report “Automated Immunoassay Analyzers Market Size By Product (Immunofluorescence, Chemiluminescence, ELISA, Enzyme Linked Fluorescent System, Multiplexed Assay System, Radioimmunoassay), By Application (Infectious Diseases, Endocrinology, Drug Monitoring, Cardiology, Oncology, Allergy Testing), By End-use (Hospitals, Diagnostic Laboratories, Research & Academic Laboratories, Pharmaceutical & Biotechnology Companies), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024”, by Global Market Insights, Inc. says automated immunoassay analyzers are used heavily for drug monitoring in hospitals and clinics, slated to cross USD 25 billion with a CAGR projection of 15% over 2017-2024.

Renowned players operating in automated immunoassay analyzers market recently witnessed one of their co-participants, Thermo Fisher Scientific, the reputed American biotech company, launch a novel mass spectrometry-based clinical analyzer, called Thermo Scientific Cascadion. Known sources cite that the company has introduced this device as a tool that depicts the properties of convenient usage, robustness, and automation, as a combined characteristic that is far improved than that of a conventional immunoassay analyzer. With the launch of this product, Thermo Fisher Scientific has conveniently established itself as one of the global leaders operating in automated immunoassay analyzers industry. This business sphere is characterized by novel, technologically advanced product launches such as the aforementioned. Companies such as Siemens Healthcare, Abbott Diagnostics, Luminex Corporation, Biokit, Roche Diagnostics, and Biomerieux, which accumulate a major chunk of automated immunoassay analyzers market, have been focusing on expanding their product portfolio in terms of assay menu, automation level and test volumes, to come up with unique, innovative products and give a competitive edge to their rivals.

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Automated immunoassay analyzers are basically deployed for carrying out various types of immunoassay testing for research and academic laboratories. They are used to test and diagnose infectious diseases, cardiological, endocrinological, and oncological diseases, and allergies. While the product has a massive application spectrum, infectious diseases accounted for the largest chunk of automated immunoassay analyzers market share in 2016. This may possibly be a result of the rising incidences of diseases caused due to infections, especially across the emerging economies. For instance, pneumonia is the leading cause of around 2 million deaths annually, causing the death of 1 in 5 children below the age of five. Improved healthcare infrastructure and the growing incidences of infections will further impel automated immunoassay analyzers industry size from infectious diseases, anticipated to cross USD 7 billion by 2024.

Chemiluminescence is one of the prominent analyzers that is widely used in techniques such as protein blotting, pharmacological tests, toxicological tests, and immunoassays. Chemiluminescence accounted for the largest share in automated immunoassay analyzers market in 2016, and is anticipated to witness extensive growth over the coming seven years. This growth can be credited to its accurate diagnosis and high sensitivity. Chemiluminescence is used in clinical immunology for studying inflammatory responses, immune response against drugs & pathogens, autoimmune diseases, and endocrine disorders, in hospitals and laboratories. Another analyzer, abbreviated ELISA (enzyme-linked immunosorbent assay), is also expected to witness considerable demand, owing to its affordable costs for an extensive test menu. Automated immunoassay analyzers industry size from ELISA is anticipated to surpass USD 6 billion by 2024, subject to its widespread usage in diagnostic and research & academic laboratories.

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Speaking along similar lines, hospitals held the largest chunk of automated immunoassay analyzers market share in 2016, and will increase considerably over the coming years. This growth can be attributed to favorable healthcare related norms for delivering optimum medical care. Subject to the rising number of educational institutes and the benefits of automated systems, automated immunoassay analyzers industry size from diagnostic laboratories is expected to witness the maximum growth rate over 2017-2024.

Automated immunoassay analyzers market is slated to witness excellent growth prospects across myriad geographies. China automated immunoassay analyzers industry for instance, is projected to observe the highest gains over the oncoming seven years, primarily due to the massive patient base and enhanced healthcare infrastructure in the region. Besides, the penetration of leading manufacturers in APAC will provide multiple opportunities for the growth of regional automated immunoassay analyzers markets such as India and China.

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The United States does not stand far behind when it comes to the expansion of automated immunoassay analyzers industry. U.S. accounted for more than 90% of North America automated immunoassay analyzers market in 2016, and is predicted to grow massively over the coming seven years, subject to the extensive adoption of automation trends and favorable government norms.

Automated immunoassay analyzers are heavily used in laboratories, hospitals, clinics to perform biochemical tests with a view to detect and predict the concentration of a substance in the test samples. Of late, small laboratories have been facing the brunt of increased costs, owing to the rapidly changing trends of automation. Since small labs do not adapt quickly to technological changes, protocol changes, staff training, and system revaluation, automated immunoassay analyzers industry has been facing a minor hindrance in terms of costs associated with the shifting of conventional products to automated product. In all likeliness, the constraint may be overcome if manufacturers strive to introduce suitable replacement systems or budget-friendly analyzer systems. In addition, manufacturers have been striving to focus on multiplex technologies using protein and peptide arrays to launch multi-parametric assays systems, thereby contributing toward the positive growth of automated immunoassay analyzers market.

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