Critical Importance of Assaying in Research & Diagnostic Applications Drives Growth in the Global Immunoassay Systems Market

The global market for Immunoassay Systems is projected to reach US$31.6 billion by 2025, driven by critical importance of assaying in research and diagnostic applications amid growing emphasis on early diagnosis of disease conditions and development of novel biomarkers. Improving access to healthcare and testing services in developing countries is another major market driver.

Immunoassays are test procedures based on the specific immuno-reaction between an antibody and an antigen, for the determination of amount of an analyte in a test sample. Thanks to the steady expansion in immunodiagnostics, biomarker research programs, and technological advancements in the overall healthcare industry, world market for immunoassays systems evolved remarkably over the years, and continues to project a favorable outlook for the future. Rising incidence of debilitating conditions, such as diabetes, cardio-vascular ailments, infectious diseases, autoimmune disorders, allergy and cancer, fuelled the demand for immunoassay tests over the years. Multiplex immunoassay and bespoke systems widened their footprint supported by the growing need for better disease analytic procedures that offer greater efficiency and low-cost benefits.

Immunoassays market continues to benefit from fast paced technology developments which promise to bring new opportunities for growth.  Introduction of novel assays has provided a great boost to the immunoassay diagnostics market, particularly in mature markets such as the US and Europe. Therefore, the future of immunoassay market immensely relies on development of novel assays in oncology, autoimmunity and cardiology among other prominent areas, which will be primary revenue contributors for the market over the next few years. Rapid and effective tests for identification of disease conditions are fast gaining popularity and will accelerate growth in the market.

Although the forecasts remain favorable, the market has to deal with certain issues and challenges such as increasing competition from molecular assays, commoditization of ELISA Kits for various analytes, and uncertain regulatory landscape in certain application domains and regions.

As stated by the new market research report on Immunoassay Systems, the United States represents the largest market worldwide. Asia-Pacific is projected to witness the fastest growth with a CAGR of 10.7% over the analysis period, led by factors such as improving healthcare infrastructure, increased healthcare spending, focus on effective management of chronic diseases  and rising trend of medical tourism.

Major players in the market include Abbott Laboratories, Beckman Coulter Inc., bioMérieux SA, Bio-Rad Laboratories Inc., DiaSorin S.p.A, Fujirebio Inc., Ortho-Clinical Diagnostics Inc., Quidel Corporation, Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, and Tosoh Bioscience Inc., among others.

The research report titled “Immunoassay Systems – Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. Product segments analyzed include Enzyme Immunoassay, Fluorescence Immunoassay, Chemiluminescence Immunoassay, Rapid Tests, ELISPOT, PCR, and Others.

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