Immunoassay Market Size to grow by USD 8.64 billion between 2024-2028
According to a research report “ Immunoassay Market” by Product (Reagents and kits, Analyzers) Technology (ELISA, Radioimmunoassay (RIA), ELISpot and others) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 8.64 billion, at a CAGR of 4.42% during the forecast period. In the realm of healthcare, there is a burgeoning shift towards proactive, preventive approaches, moving away from reactive treatment methods. This transition will be fueled by innovative diagnostic techniques, specifically predictive diagnostics, which form the foundation for targeted preventive measures and personalized treatment plans. Predictive diagnostics enable the prediction of human pathologies, allowing for the establishment of an effective treatment regimen tailored to the individual patient. Misdiagnosis can have severe consequences, making accurate and timely predictive diagnosis crucial for appropriate patient care. This trend towards predictive and preventive medicine is set to revolutionize the healthcare industry, with immunoassay market playing a significant role in the development and implementation of these advanced diagnostic solutions.
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By Product, the Reagents and kits segment is projected to dominate the market size in 2024
The Enzyme-linked Immunosorbent Assay (ELISA) market is experiencing significant growth due to its application in the diagnostic detection and quantification of various analytes, particularly in the healthcare sector. ELISA is a versatile analytical biochemistry technique used for qualitative and quantitative analysis of biomolecules such as proteins, peptides, and antibodies. The increasing burden of infectious diseases like HIV, dengue, hepatitis, malaria, and influenza globally is driving the demand for ELISA tests as they serve as the initial diagnostic tool for many of these conditions. For instance, ELISA is the primary diagnostic method for HIV, which remains a persistent global health challenge with an estimated 39 million people living with the virus according to the World Health Organization (WHO).
By Technology, ELISA segment is expected to hold the largest market size for the year 2024
In the realm of immunoassay testing, reagents play a pivotal role as essential catalysts facilitating chemical reactions. These substances or compounds are meticulously designed to optimize immunoassays and address complex technical challenges, such as non-specific binding and matrix interferences. Reagents ensure the stability of antigens and antibodies over time, maintaining protein activity and prolonging shelf life. Compatibility with analyzer materials is crucial to prevent any potential damage to components, ultimately enhancing assay performance and manufacturability.
North America is forecasted to hold the largest market size by region in 2024
The Immunoassay market in North America is experiencing robust growth, driven by the region's aging population and high prevalence of chronic and infectious diseases. The increasing awareness among consumers regarding their health, resulting in regular testing and checkups, further fuels market expansion. Advanced Point-of-Care (POC) diagnostic technologies' availability encourages individuals to undergo frequent medical examinations. Major players are targeting the US market by launching innovative products to expand their market share. Additionally, laboratory automation, the shift towards POC diagnostics, and regulatory approvals for new products are key growth factors in the North American Immunoassay market.
The Immunoassay Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Immunoassay market encompasses a wide range of diagnostic tools and reagents used in the healthcare industry for the detection and analysis of various analytes in neurology, cardiology, oncology, and other clinical research areas. Immunoassays play a crucial role in the diagnosis and monitoring of autoimmune diseases, infectious diseases, and various conditions requiring therapeutic drug monitoring. These assays utilize immunochemistry principles, including the use of antibodies, to detect and quantify biomarkers, hormones, proteins, and other analytes. The market includes various types of immunoassay kits, such as microfluidic devices, biosensors, diagnostic reagents, and immunofluorescence assays, among others. Applications of immunoassays span across various sectors, including neurology, cardiology, oncology, allergy testing, autoimmune disease testing, cancer biomarkers, infectious disease testing, and hormone assays. Some specific types of immunoassays include Immunosuppressant assays, Therapeutic drug monitoring, Lateral flow assays, Radioimmunoassays, Chemiluminescent immunoassays, and Fluorescence immunoassays. The global Immunoassay market is driven by the increasing demand for accurate and rapid diagnostic tests, growing research and development activities, and the expanding application base in pharmaceutical and clinical research. The market is expected to grow at a significant CAGR during the forecast period.
Market Research Overview
The Immunoassay market is witnessing a significant rise in various regions, including neurology, oncology, autoimmune, and infectious disease sectors, due to the increasing need for accurate and efficient diagnostic tests. Immunoassays are a type of analytical technique used for the quantitative or qualitative determination of an analyte in a sample using antibodies or antigens. These techniques are widely used in clinical chemistry, research laboratories, and healthcare infrastructure for the diagnosis and monitoring of various disorders. The market for immunoassays is driven by the increasing incidence of diseases such as cancer, diabetes, and cardiology disorders, which require regular monitoring and early detection. The adoption of immunoassay technologies is also increasing due to advancements in immunochemistry assays, such as ELISA, RIA, chemiluminescence immunoassay, and biosensors. The immunoassay market size is expected to increase due to the availability of various immunoassay testing techniques, such as lateral flow assays, microfluidic devices, and rapid diagnostic tests. The market is segmented into various regions, including North America, Europe, Asia Pacific, and others. Key players in the market include Sysmex Corporation, Roche Diagnostics, and Abbott Laboratories. Immunoassay reliability, precision, accuracy, and performance are crucial factors driving the growth of the market. Immunoassays are used for the detection of various biomarkers, such as cancer biomarkers, hormone assays, and infectious disease testing. The increasing prevalence of diseases and the need for early and accurate diagnosis are expected to drive the growth of the immunoassay market in the coming years. Immunoassay market is also driven by the development of new immunoassay platforms, precision medicine, immunosuppressant assays, therapeutic drug monitoring, allergy testing, autoimmune disease testing, and diagnostic reagents. The increasing availability of immunoassay kits and the automation of immunoassay testing are also contributing to the growth of the market. The immunoassay market is expected to grow significantly due to the increasing adoption of immunoassay technologies in clinical diagnostics, research laboratories, and healthcare infrastructure. The increasing population and the presence of various diseases in different countries are also expected to drive the growth of the market. Immunoassay market is also driven by the increasing demand for point-of-care testing and clinical diagnostics. The increasing research in immunochemistry and the development of new analytical methods, such as antibody-based assays and biomarker detection, are also expected to contribute to the growth of the market. In conclusion, the immunoassay market is expected to grow significantly due to the increasing need for accurate and efficient diagnostic tests, the increasing prevalence of diseases, and the development of new immunoassay technologies. The market is driven by various factors, including the increasing adoption of immunoassay platforms, precision medicine, immunosuppressant assays, therapeutic drug monitoring, allergy testing, autoimmune disease testing, and diagnostic reagents. The increasing availability of immunoassay kits and the automation of immunoassay testing are also contributing to the growth of the market. The market is segmented into various regions, including North America, Europe, Asia Pacific, and others, and is expected to grow significantly in the coming years.
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