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Immunoassay Market Size Key Opportunities, Strategic Assessment, Strong Revenue and Forecast to 2027

Global Immunoassay Market Research Report: by Product (Reagents and Kits, Analyzers/Instruments, Software and Services), Technology [Radioimmunoassay (RIA), Enzyme-linked Immunosorbent Assay (ELISA), Enzyme-linked Fluorescent Assay (ELFA), Chemiluminescence Immunoassay (CLIA), Rapid Test, Others], Indication (Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Diseases, Autoimmune Diseases, Others), End User (Hospitals, Clinical Laboratories, Blood Banks, Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Others) and Region – Forecast till 2027

An immunoassay is a biochemical test that measures the presence or concentration of analytes or antibodies. Immunoassays have been widely used in many important areas of pharmaceutical analysis such as diagnosis of diseases, therapeutic drug monitoring, clinical pharmacokinetic and bioequivalence studies in drug discovery and pharmaceutical industries. The importance and widespread of immunoassay methods in pharmaceutical analysis are attributed to their inherent specificity, high-throughput, and high sensitivity for the analysis of wide range of analytes in biological samples

During early stages of drug discovery and development, especially in the clinical pharmacokinetic studies for the new drug candidate, large number of samples are screened. This can be attained by using an analytical method of high throughput or immunoassays. The immunoassay market has been gaining traction as novel techniques have been developed that can facilitate rapid production of specific antibodies leading to substantial shortening of the time needed for immunoassay methods development. Relatively low cost of the instruments and the reagents have brought potential advantages to immunoassay market and increased the utilization of immunoassay used in pharmaceutical analysis.

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Segmentation:

The immunoassay market has been segmented into product, indication, technology and end user.

On the basis of product, immunoassay market segmentation includes reagents and kits, software, analyzers/instruments, and services. In 2018, reagents and kits segment turned out to be the largest value contributor to the market due to growing use of reagents and kits in assessment of disorders, rising incidence of chronic and infectious diseases and repetitive purchase by the users.

On the basis of indication, the global immunoassay market is segmented as oncology, endocrinology, cardiology, infectious diseases, therapeutic drug monitoring, autoimmune diseases, and others.

By technology, the immunoassay market has been categorized into enzyme-linked immunosorbent assay (ELISA), radioimmunoassay (RIA), chemiluminescence immunoassay (CLIA), enzyme-linked fluorescent assay (ELFA), rapid test, and others.

According to end user, the immunoassay market categorization includes hospitals, blood banks, clinical laboratories, academic and research institutes, pharmaceutical and biotechnology companies, and others.

Regional Analysis:

Geographically, immunoassay market is segmented into the Americas, Europe, Asia Pacific and the Middle East and Africa.

In 2018, the Americas has been evaluated to have held a substantial share in the immunoassay market due to availability of government funds, surging number of research projects in laboratories, presence of major industry players, and rapid adoption of the procedure in clinical diagnostics in the Canada and U.S. Market players such as Thermo Fisher Scientific, Abbott Laboratories, Dickinson and Company, Becton etc. are all headquartered in the U.S. have been adding considerable growth impetus to the immunoassay market in the region.

Europe is expected to hold the second-largest share in the immunoassay market owing to the growing adoption in diagnostic measures, thriving pharmaceutical and biotechnology market in countries like UK, Germany, and France as well as rising use of chemiluminescent immunoassay.

Asia-Pacific immunoassay market is anticipated to register significant growth over the forecast period due to rising prevalence of chronic diseases, expanding geriatric population, increasing healthcare spending and enhanced use of immunoassay tests. The population of 60 years or older in Asia-Pacific by the end of 2050 is expected to reach 1.3 billion. As older people are more prone to suffer from chronic and other disorders, the expansive geriatric population is a potent indicator for the substantial growth of immunoassay market in the region.

Middle East & Africa immunoassay market is expected to witness the modest market growth over 2019-2025. Developing healthcare infrastructure in the Gulf Cooperation Council (GCC) countries such as the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Bahrain, and Oman would attribute to market growth.

Competitive Overview:

Thermo Fisher Scientific Inc., bioMérieux SA, Abbott Laboratories, Becton, F. Hoffmann-La Roche Ltd, Dickinson and Company, Siemens Healthineers, Danaher Corporation, Sysmex Corporation, Merck KGaA, Quidel Corporation, and DiaSorin S.p.A.

Industry News:

Technological advancements have brought considerable enhancements to the immunoassay market and the procedure itself. Recently, WHO recommended the use of simple, rapid tests instead of western blot and line immunoassay methods for HIV testing. Western blot method can take weeks to return confirmatory tests and delays the initiation of live-saving antiretroviral treatment (ART). The WHO estimates that in the European region only 82% of the people living with HIV are aware of their status while only 74% eastern European countries know their status. However, enzyme immunoassays are faster, more accurate and less expensive and can be given at the point of care.

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