Immunoassay Market Size, Share, Growth Analysis, By Product Type(Reagents & Kits (ELISA Reagents & Kits, Rapid Test Reagent & Kits), By Technology(ELISA, Rapid Tests), By Specimen(Blood, Saliva), By Application(Infectious Diseases, Endocrinology), By End User(Hospitals & Clinics, Clinical Laboratories) - Industry Forecast 2024-2031

Immunoassay Market Driver

• The prevalence of chronic diseases, combined with the high rate of infection and the COVID-19 pandemic, has demanded the adoption of immune-diagnostic assays for containment and management. Immunoassay tests are regarded as a critical diagnostic tool because they provide reliable and low-cost identification of infections or target compounds. These tests are used to identify both acute and chronic illnesses. Immunoassays have become the gold standard for detecting a variety of infections and pathophysiological states on a global scale. Another key factor driving market expansion is the increased demand for early-stage diagnosis of illness conditions employing immunoassay products.
• Globally, there will be 783 million diabetics by 2045, up from 643 million in 2030. In 2021, diabetes caused 6.7 million deaths worldwide, and 541 million people are thought to be at risk of having the disease (Source: International Diabetes Federation). The WHO emphasized the HIV epidemic's worldwide significance, which has resulted in over 33 million deaths and an estimated 38 million HIV infections. Similar estimates of 19.3 million new cases of cancer and 10.0 million fatalities from the disease were made by GLOBOCAN and the International Agency for Research on Cancer. With 2.3 million new cases, breast cancer leads this estimate, followed by lung, colorectal, prostate, and stomach cancer. Hence, this creates a wide scope for the market growth.

Immunoassay Market Restraint

• The use of immunoassays has a number of drawbacks. Cross-reactivity has consistently presented a problem for the immunoassays' dependability and specificity. In immunoassays, antibodies bind to structural analogues of the target antibody/analyte. High sample volume requirements for detection, complicated procedures, unsuitability for high-throughput screening analysis (ELISA), and reagent instability are further problems. Low-concentration analytes or target molecules are not thought to be acceptable for the standard colorimetric readout ELISA. In order to identify viral RNA sequences, immunoassays are not thought of as precise tests. They have been reported to have problems recognising specific biomolecules including interferons, rheumatoid factor, and non-specific IgM. During the early stages of an illness, immunoassays are also associated with false negatives. This erroneous sensitivity poses a barrier for those who are slightly symptomatic to asymptomatic and have a low antibody titer in response to coronavirus infection.