Global Immunoassay Market to Grow at 5.2% During 2024-2032, Impelled by the Increasing Prevalence of Chronic Diseases

May 17, 2021 | Healthcare

According to the latest report by IMARC Group, titled “Immunoassay Market Report by Technology (Radioimmunoassay, Enzyme Immunoassay, Rapid Test, and Others), Product (Reagents and Kits, Analyzers/Instruments, Software and Services), Application (Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Disease Testing, Autoimmune Diseases, and Others), End Use (Hospitals, Blood Banks, Clinical Laboratories, Pharmaceutical and Biotech Companies, Academic Research Centers, and Others), and Region 2024-2032,” the global immunoassay market reached a value of US$ 31.0 Billion in 2023. Immunoassay (IA) is a biochemical technique used to measure the concentration or presence of macromolecules analytes in a solution through an antibody or an antigen. The immunoassay instruments help in detecting the concentration and presence of analytes in the blood, plasma and urine samples. It plays a crucial role in clinical diagnostics, pharmaceutical analysis, environmental monitoring, and security and finds application in research centers, hospitals, and laboratories.

Global Immunoassay Market Trends:

The rising cases of infectious diseases around the world are driving the growth of the market. Immunoassay has become an important part of the diagnostic regime for diseases, such as COVID-19, dengue, hepatitis, HIV, malaria, and tuberculosis. In addition to this, technological advancements in the field of immunoassays offering expedited results with higher efficacy, detection limits, sensitivity, and cost-efficiency are contributing to the market growth. The increasing adoption of rapid tests and point-of-care (PoC) testing for drug monitoring and alcohol abuse is acting as another major growth-inducing factor. Furthermore, growth in biotechnology and biopharmaceutical industries coupled with the emerging trend of smartphone-based formats and multiplex bead assays are creating a positive outlook for the market. Looking forward, the market is expected to exhibit a CAGR of 5.2% during 2024-2032.

Market Summary:

  • On the basis of the technology, the market has been divided into radioimmunoassay, enzyme immunoassay, rapid test and others.
  • Based on the end use, the market has been classified into hospitals, blood banks, clinical laboratories, pharmaceutical and biotech companies, academic research centers and others.
  • On the basis of the product, the market has been classified into reagents and kits, analyzers/instruments, software and services.
  • Based on the application, the market has been classified into therapeutic drug monitoring, oncology, cardiology, endocrinology, infectious disease testing, autoimmune diseases and others.
  • On a regional basis, the market has been spread across North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being Abbott, Becton Dickinson and Company, BioMérieux SA, Danaher Corporation, Merck KGaA, PerkinElmer Inc, Quidel Corporation, Siemens Healthcare Pty Ltd (Siemens AG), Sysmex Corporation and Thermo Fisher Scientific.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Technology, Product, Application, End Use, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Abbott, Becton Dickinson and Company, BioMérieux SA, Danaher Corporation, Merck KGaA, PerkinElmer Inc, Quidel Corporation, Siemens Healthcare Pty Ltd (Siemens AG), Sysmex Corporation and Thermo Fisher Scientific
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Immunoassay Market to Grow at 5.2% During 2024-2032, Impelled by the Increasing Prevalence of Chronic Diseases
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