Global Immunoassay Market to Grow at 6.1% During 2023-2028, Impelled by the Increasing Prevalence of Chronic Diseases

According to the latest report by IMARC Group, titled “Immunoassay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global immunoassay market reached a value of US$ 29.4 Billion in 2022. 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 6.1% during 2023-2028.

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:

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