USD 29.72 billion
Report ID:
SQMIG35H2054 |
Region:
Global |
Published Date: September, 2024
Pages:
242
|Tables:
164
|Figures:
78
Immunoassay Market size was valued at USD 33.26 billion in 2022 and is poised to grow from USD 35.12 billion in 2023 to USD 54.27 billion by 2031, growing at a CAGR of 5.59% in the forecast period (2024-2031).
Immunoassay is a bioanalytical technique that uses antigen-antibody affinity to differentiate and measure molecules of interest in biological samples. Immunoassays are laboratory procedures that can identify particular compounds quickly and precisely. Increased R&D efforts, as well as an increase in disease diagnostics, cancer markers, cardiac analysis, therapeutic medication monitoring, and clinical research techniques, are likely to boost market growth. In hospitals and medical laboratories, immunoassays can be used to perform automated biochemical exams to detect the presence and concentration of certain compounds in samples. Immunoassays' roles in numerous bioanalytical applications such as medical diagnostics, environmental monitoring, biopharmaceutical analysis, and food testing are driving market expansion.
US Immunoassay Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 29.72 billion
Largest Segment
Reagents and kits
Fastest Growth
Reagents and kits
Growth Rate
5.32% CAGR
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Global Immunoassay Market is segmented on the basis of product, technology, specimen, application, end user, and region. By product, market is segmented into Reagents & Kits, Analyzers. By technology, market is segmented into ELISA, CLIA, IFA, Rapid Tests, Western Blotting, ELISPOT, and Other Technologies. By specimen, market is segmented into Blood, Saliva, Urine, and Other Specimens. By application, market is segmented into Infectious Diseases, Endocrinology, Cardiology, Autoimmune Disorders, Allergy Diagnostics, Oncology, Bone & Mineral Disorders, Drug Monitoring and Testing, Blood Screening, Newborn Screening, and Other Applications. By end user, market is segmented into Hospitals & Clinics, Clinical Laboratories, pharmaceutical & Biotechnology Companies and Contract Research Organizations, Home Care Settings, Blood Banks, and Research & Academic Laboratories. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Immunoassay Market Analysis by Technology
In 2022, the EIA/ELISA category dominated the immunoassay market. The advantages of this approach over immune-electrophoresis and immunodiffusion are shorter testing times, quantitative results, and the use of less antisera for analysis. A rapid test, also known as a lateral flow immunoassay, detects the presence of a target analyte without the use of specialist equipment. The quick test technique has a variety of applications, including dengue and Legionella, Salmonella, Campylobacter, Zika, and Listeria diseases. Furthermore, monoclonal antibodies are used specifically for Immunoglobulin G (IgG), Immunoglobulin M (IgM), Immunoglobulin A (IgA), and Immunoglobulin (IgD) for precise identification of target analyte.
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In 2022, North America is expected to have the biggest share of the market. North America is expected to hold the highest share of the market and will continue to do so during the forecast period due to rising demand for technologically advanced products. Furthermore, increased R&D grants from the government and business health care organisations are advancing technology and supporting industry expansion. However, the Asia Pacific immunoassay market is predicted to grow at the fastest rate due to an increase in the incidence of infectious diseases, higher biotechnological research efforts, and an increase in the region's healthcare expenditure. During the projected period, Latin America, the Middle East, and Africa are expected to increase.
Further, due to presence of huge geriatric population and high frequency of infectious diseases, Asia Pacific is anticipated to increase at the fastest rate during the projection period. One of the reasons propelling the market in the area is the expanding usage of cutting-edge laboratory techniques and processes for quicker investigation and diagnosis of infectious and chronic illnesses. In addition, the development of molecular kits and the rise in demand for diagnostic reagents are major market drivers.
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Immunoassay Market Driver
Immunoassay Market Restraint
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The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Immunoassay Market Top Player’s Company Profiles
Immunoassay Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Global Immunoassay market is segmented based on product type, technology, specimen, application, end user, region. Based on the product type, Reagents & Kits held the most significant market share. Based on the specimen, blood held the most significant market share. Based on application, infectious diseases held the most significant market share. Based on the end user, hospitals & clinics held the most significant market share. Based on the region, North America held the most significant market share.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 33.26 billion |
Market size value in 2031 | USD 54.27 billion |
Growth Rate | 5.59% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Immunoassay Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Immunoassay Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Immunoassay Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Immunoassay Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35H2054