The Global Immunoassay Market Size was valued at USD 32.45 Billion in 2022 and the Global immunoassay market Size is expected to reach USD 53.87 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: Siemens Healthineers, BioMerieux SA, Abbott Laboratories, Danaher Corporation, Quidel Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Bio-Rad Laboratories, Inc., Becton, Dickinson, and Company, F. Hoffmann-La Roche AG, Thermo Fisher Scientific, Inc., and Other key vendors.
New York, United States, Nov. 17, 2023 (GLOBE NEWSWIRE) — The Global Immunoassay Market Size is to grow from USD 32.45 Billion in 2022 to USD 53.87 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period.
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Immunoassay is a sensitive laboratory technique used to detect and measure substances like proteins, hormones, and drugs in biological samples. It relies on specific antigen-antibody interactions, forming complexes that are quantified through methods like ELISA or RIA. Valuable in medical diagnostics and research, immunoassays aid in disease detection, drug monitoring, and immune response analysis due to their high accuracy and ability to detect minute quantities of substances.
Browse key industry insights spread across 200 pages with 150 market data tables and figures & charts from the report on “Global Immunoassay Market Size, Share, and COVID-19 Impact Analysis, By Product (Reagents & Kits, Analyzers/Instruments, and Software & Services), By Specimen (Blood, Saliva, Urine, and Others), By Technology (Radioimmunoassay, Enzyme Immunoassays Rapid Test, and Others), By Application (Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Disease Testing, Autoimmune Diseases, and Others), By End-Use (Hospitals, Blood Banks, Clinical Laboratories, Pharmaceutical & Biotech Companies, Academic Research Centers, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032.”
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In 2022, the reagents & kits segment accounted for around 65.4% market share.
On the basis of the product, the global immunoassay market is segmented into reagents & kits, analyzers/instruments, and software & services. Reagents and kits have contributed to the largest market share in the immunoassay market due to their crucial role in facilitating accurate and reliable test results. As immunoassays heavily rely on specific antigen-antibody interactions, the quality and specificity of reagents and kits significantly impact the assay’s performance. Their ease of use and ready availability make them attractive options for laboratories and healthcare facilities. Additionally, advancements in reagent technologies, such as monoclonal antibodies and enzyme labels, have further enhanced their efficiency and contributed to their dominant position in the immunoassay market.
The enzyme immunoassays segment held the largest market with more than 58.2% revenue share in 2022.
Based on the technology, the global immunoassay market is segmented into radioimmunoassay, enzyme immunoassays rapid test, and others. Enzyme Immunoassays (EIA) have held the largest market share in the immunoassay market due to their wide range of applications, high sensitivity, and specificity. EIA’s ability to detect and quantify antigens in various biological samples has made them a preferred choice in clinical diagnostics, drug development, and research. They offer a cost-effective and efficient solution for detecting analytes, making them suitable for large-scale testing.
The infectious disease testing segment is expected to grow at a higher CAGR of around 5.6% during the forecast period.
Based on the application, the global immunoassay market is segmented into therapeutic drug monitoring, oncology, cardiology, endocrinology, infectious disease testing, autoimmune diseases, and others. The infectious diseases testing segment is anticipated to experience the fastest growth rate over the forecast period due to the increasing global incidence of infectious diseases, such as HIV, hepatitis, and respiratory infections, has created a pressing need for efficient and accurate diagnostic tools. Immunoassays offer high sensitivity and specificity, making them indispensable in infectious disease detection.
The hospitals segment held the largest market with more than 31.7% revenue share in 2022.
Based on the end-use, the global immunoassay market is segmented into hospitals, blood banks, clinical laboratories, pharmaceutical & biotech companies, academic research centers, and others. The hospitals segment dominated the overall immunoassay market primarily due to its vital role as a primary healthcare provider and diagnostic hub. Hospitals have a significant patient load, necessitating a wide range of diagnostic tests, including immunoassays, to accurately diagnose and monitor various diseases.
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Asia-Pacific is predicted to grow at a higher CAGR of around 5.4% over the projected period.
Based on region, the Asia Pacific region is projected to experience rapid growth in the immunoassay market during the forecast period due to the large and growing population, coupled with increasing healthcare awareness and spending, which is driving the demand for advanced diagnostic technologies. Additionally, the rising prevalence of infectious diseases, chronic conditions, and lifestyle-related disorders in the region has created a significant need for accurate and efficient diagnostic tools like immunoassays
North America has emerged as the leading revenue generator in the immunoassay market due to advanced healthcare infrastructure, strong emphasis on early disease detection, and extensive research and development activities that have driven the adoption of immunoassay technologies.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global immunoassay market include Siemens Healthineers, BioMerieux SA, Abbott Laboratories, Danaher Corporation, Quidel Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Bio-Rad Laboratories, Inc., Becton, Dickinson, and Company, F. Hoffmann-La Roche AG, Thermo Fisher Scientific, Inc. and other key vendors.
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- In November 2022, Getein debuted the MAGICL 6000 CLIA analyzer at MEDICA 2022. MAGICL 6000 is a small and innovative CLIA analyzer that is ideal for mid to high-workflow laboratories that require a one-step CLIA solution.
- In November 2022, LumiraDx has introduced a quick microfluidic immunoassay HbA1c test throughout Europe, the Middle East, Asia, Latin America, and Africa.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global immunoassay market based on the below-mentioned segments:
Immunoassay Market, By Product
- Reagents & Kits
- Software & Services
Immunoassay Market, By Specimen
Immunoassay Market, By Technology
- Enzyme Immunoassays Rapid Test
Immunoassay Market, By Application
- Therapeutic Drug Monitoring
- Infectious Disease Testing
- Autoimmune Diseases
Immunoassay Market, By End-Use
- Blood Banks
- Clinical Laboratories
- Pharmaceutical & Biotech Companies
- Academic Research Centers
Immunoassay Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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