Immunoassay Market Size, Share, Growth Analysis, By Product Type(Reagents & Kits (ELISA Reagents & Kits, Rapid Test Reagent & Kits, ELISpot Reagent & Kits, Western Blot Reagent & Kits), By Technology(ELISA, Rapid Tests, ELISpot, Western Blotting), By Specimen(Blood, Saliva, Urine, Other Specimens), By Application(Infectious Diseases, Endocrinology, Oncology, Bone & Mineral Disorders), By End User(Hospitals & Clinics, Clinical Laboratories, Pharmaceutical & Biotechnology Companies and CROs, Blood Banks), By Region - Industry Forecast 2024-2031

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.