Latest News- Immunoassay Market: Reagents and kits is expected to lead the Product segment during 2025-2029

The Immunoassay Market is being driven by Predictive and preventive medicine for early diagnosis and treatment

The Immunoassay Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 9.4 billion. In the agricultural sector, antibiotics are extensively utilized for the prevention and treatment of animal diseases. However, the presence of antibiotic residues in animal-derived food can pose health risks to consumers. The global issue of food contamination with antibiotic residues has gained significant attention due to the rampant and unregulated use of antibiotics in livestock farming. Immunoassays, a biochemical technique based on the interaction between specific antigens and antibodies, offer a promising solution for the detection of antibiotic residues in food and environmental samples. These assays provide highly sensitive and accurate results with minimal sample preparation, making them an essential tool for food testing laboratories. Consequently, the increasing adoption of immunoassays in food safety testing is expected to fuel the growth of the immunoassay market during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Reagents and kits
  • Analyzers
• Technology
  • ELISA
  • Radioimmunoassay (RIA)
  • Chemiluminescence Immunoassay (CLIA)
  • Fluorescence Immunoassay (FIA)
  • Rapid Tests
  • Western Blotting
• Specimen
  • Blood
  • Urine
  • Saliva
• End-User
  • Hospitals
  • Blood Banks
  • Clinical Laboratories
  • Pharmaceutical and Biotech Companies
  • Academic Research Centers
  • Others
• Application
  • Infectious Diseases
  • Endocrinology
  • Oncology
  • Cardiology
  • Autoimmune Diseases
  • Therapeutic Drug Monitoring
  • Bone & Mineral Disorders
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Predictive and preventive medicine for early diagnosis and treatment
• Growing demand for blood banks and their potential to increase sales
• Rising geriatric population

However, the market also witnesses some limitations, which are as follows:

• Limited number of skilled laboratory professionals
• Stringent regulatory scrutiny for immunoassays
• Inadequate medical reimbursements

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Market Scope in Immunoassay Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Immunoassay Market encompasses various aspects including Immunoassay Development and Validation, the production and supply of Immunoassay Kits and Reagents, the utilization of Immunoassay Platforms and Software, and the interpretation of Immunoassay Data. Standards, Controls, and Automation are essential components, while Applications, Trends, and Innovations drive market growth. Regulations, Safety, and Quality ensure market compliance, and Cost-Effectiveness, Comparison, and Clinical Performance are key considerations. Market Analysis and Industry Overview provide insights into current status and future prospects, with Technology Advancement and Market Segmentation shaping the industry's growth. Market Drivers fuel the expansion of this dynamic sector.

Market Research Overview

In the expansive biotechnology industry, the immunoassay market holds a significant position, encompassing Lateral Flow Assays, Immunochromatographic Assays, Automated Analyzers, and Point-of-Care Testing. According to Technavio, the global healthcare market, which includes the revenue generated by manufacturers and providers of healthcare equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, is poised for growth. Factors driving this expansion include the increasing aging population; by 2050, approximately one-quarter of the US and European populations are projected to be over 60 years old. This demographic shift will lead to a heightened demand for diagnostic tools and treatments, bolstering the immunoassay market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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