Report : Immunoassay Market to 2027 - Global Analysis and Forecasts By Product (Reagents & kits, Analyzers & Instruments, Software & Services); Technology (Enzyme-Linked Immunosorbent Assays (ELISA), Fluorescence, Chemiluminescence, Rapid Test, Western Blot, Enzyme-Linked Immune Absorbent Spot (ELISPOT), Polymerase Chain Reaction (PCR)); Application (Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Disease Testing, Autoimmune Diseases, Others); End User (Hospitals, Blood banks, Clinical laboratories, Pharmaceutical and Biotech Companies, Academic Research Centers, Others) and Geography
Reagents and Kits segment is expected to grow at a fast pace over the forecast period
According to The Insight Partners market research study titled 'Immunoassay market to 2027 - Global Analysis and Forecasts by Product, Technology, Application, End User'. The global immunoassay market is expected to reach US$ 37,987.8 Mn in 2027 from US$ 21,800.00 Mn in 2018. The market is estimated to grow with a CAGR of 6.5% from 2019-2027. The report highlights the trends prevalent in the global immunoassay market and the factors driving the market along with those that act as deterrents to its growth.
Global immunoassay market, based on the product, was segmented as, reagents & kits, analyzers & instruments, software & services. In 2018, the reagents & kits accounted for the largest market share in the global immunoassay market. The various kits are used for the detection of multiple proteins and molecules that include growth factors, cytokines, and markers for infectious diseases, tumor, diabetes, drugs, small molecules, and more. The reagents used in the immunoassay include antibodies, sample diluents, conjugate stabilizer diluents, coating and wash buffers, and substrates for immunoassays. The extensive usage of the products for the discovery of ailment-causing pathogens in dengue, HIV, and cancer and other chronic diseases. Thus, Owing to above mentioned factors it is expected that the market is likely to increase significantly during the forecast period.
The market for immunoassay is expected to grow, owing to factors such as rising incidences of chronic and infectious diseases, technological advancements in immunoassay devices, and growing biotechnology & biopharmaceutical industries have been boosting the market over the years. However, the stringent regulatory requirements for immunoassay devices are likely to have a negative impact on the growth of the market in the coming years.
The major players operating in the immunoassay market include F. Hoffmann-La Roche Ltd., Abbott, Siemens, bioMérieux SA, BD, Danaher Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Thermo Fisher Scientific Inc., and Quidel Corporation. The market has witnessed various organic as well as inorganic developments during recent years in the immunoassay market. For instance, during November 2016, Siemens Healthineers has acquired Conworx Technology, a company specializing in point-of-care device interfaces and big data management, for an undisclosed sum.
The report segments the Global Immunoassay Market as follows:
Global Immunoassay Market – By Product
Global Immunoassay Market – By Technology