Global Immunodiagnostics Market to Reach US$ 34.3 Billion by 2032, Impelled by Rising Prevalence of Chronic Illnesses

April 21, 2023 | Healthcare

According to the latest report by IMARC Group, titled "Immunodiagnostics Market Report by Product (Reagents, Instruments, Software and Services), Technology (Enzyme-Linked Immunosorbent Assay, Chemiluminescence Immunoassay, Fluorescent Immunoassay, Radioimmunoassay, Rapid Test, and Others), Application (Infectious Diseases, Oncology and Endocrinology, Hepatitis and Retrovirus, Bone and Mineral, Autoimmunity, Cardiac Biomarker, and Others), End User (Hospitals, Clinical Laboratories, Academic and Research Centers, Pharmaceutical and Biotechnology Industry, and Others), and Region 2024-2032," the global immunodiagnostics market size reached US$ 18.8 Billion in 2023. Immunodiagnostics refers to a method that is generally adopted to detect autoimmune and infectious diseases. It uses antigen-antibody reactions as a primary way to detect a wide range of targets. It enables antibodies to bind to an antigen of interest that assist researchers in gathering highly sensitive insights that help in the development of targeted therapies and treatments. Some of the commonly utilized immunodiagnostics approaches include agglutination, nephelometry, immunoprecipitation and immunodiffusion. This technique is gaining widespread prominence across clinical laboratories, hospitals and research and academic institutes due to its accuracy, speed and simplicity in providing results.

Global Immunodiagnostics Market Trends:

The global market is primarily driven by the rising prevalence of chronic illnesses among the masses. Along with this, the growing awareness regarding the available treatments and therapies for these diseases, coupled with inflating disposable income levels of individuals, are creating a positive market outlook. Apart from this, continual technological advancements and the introduction of magnetic bead-based methods in immunodiagnostics are providing a boost to the market. Moreover, the escalating investments by numerous leading players in extensive research and development (R&D) in the field of forensic science are significantly supporting the demand on the global level. Furthermore, the increasing spending by public and private agencies for upgrading the overall healthcare infrastructure and the development of enhanced diagnostic facilities in geographically extended locations are catalyzing the market. Other factors, including rapid digitization, the rising demand for personalized and target-based medicines, the increasing geriatric population and continual developments in medical tourism, are also impacting the market favorably. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 34.3 Billion by 2032, exhibiting a CAGR of 6.7% during 2024-2032.

Market Summary:

On the basis of the product, the market has been segmented into reagents, instruments and software and services.
Based on the technology, the market has been classified into enzyme-linked immunosorbent assay, chemiluminescence immunoassay, fluorescent immunoassay, radioimmunoassay, rapid test and others.
On the basis of the application, the market has been bifurcated into infectious diseases, oncology and endocrinology, hepatitis and retrovirus, bone and mineral, autoimmunity, cardiac biomarker and others.
Based on the end user, the market has been segregated into hospitals, clinical laboratories, academic and research centers, pharmaceutical and biotechnology industry and others.
On the basis of the region, the market has been categorized into North America (United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Abbott Laboratories, Arkray Inc., bioMérieux SA, Bio-Rad Laboratories Inc., DiaSorin S.p.A., F. Hoffmann-La Roche AG, Immunodiagnostic Systems Holdings PLC, Johnson & Johnson, Siemens AG, Sysmex Corporation and Thermo Fisher Scientific Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product, Technology, Application, End User, 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 Laboratories, Arkray Inc., bioMérieux SA, Bio-Rad Laboratories Inc., DiaSorin S.p.A., F. Hoffmann-La Roche AG, Immunodiagnostic Systems Holdings PLC, Johnson & Johnson, Siemens AG, Sysmex Corporation and Thermo Fisher Scientific Inc.
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Global Immunodiagnostics Market to Reach US$ 34.3 Billion by 2032, Impelled by Rising Prevalence of Chronic Illnesses

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