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Global Immunoassay Market

July 6, 2018

Global Immunoassay Market, By Product Type (Reagents & kits (ELISA Reagents & Kits, Rapid Test Reagents & Kits, ELISPOT Reagents & Kits, Western Blot Reagents & Kits, And Other Reagents & Kits), Analyzers/instruments (Open ended systems and Closed ended systems), and Software & services), By Technology (Radioimmunoassay (RIA), Enzyme Immunoassay (EIA) (Chemiluminescence Immunoassays (CLIA) and Fluorescence Immunoassays (FIA)), Rapid Test, Western Blotting, and Others), By Application (Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Disease Testing, Autoimmune Diseases, Others), By Specimen Type (Blood, Saliva, Urine, and Others), By End User (Hospitals, Blood Banks, Clinical laboratories, Pharmaceutical and biotech Companies, Academic Research Centers, Others), And Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa).- Global Forecast, 2020-2025.

Report Code :FMR331      
Industry : Biotechnology
Pages :214 Pages
Format :   PPT Format   PDF Format

The global immunoassay market was valued at US$ xx million in 2019. This market is estimated to be valued at US$ xx million in the year 2020, and it is expected to reach US$ xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020−2025). Immunoassays use antigen-antibody reaction to sense the concentration of an extensive range of biological substances in the blood and other fluids. Some of the prominent market drivers are the increasing worldwide prevalence of infectious and chronic diseases, increasing adoption of rapid testing and immunoassay-based point-of-care (POC) testing, pharmaceutical sector and flourishing biotechnology, and technological developments in immunoassay instruments and the launch of novel automated systems. For instance, according to the American Chemical Society (ACS), in the U.S., clinical laboratories perform more than 7 billion tests on urine, blood, and other samples from patients every year, which is boosting the market growth.        

Table 1. Global Immunoassay Market Synopsis

Parameters

Description

Market Value (US$ Mn) for the Period

2018-2025

Base Year

2019

Forecast Period

2020-2025

Market Segmentation (By Product Type)

Reagents & kits (ELISA Reagents & Kits, Rapid Test Reagents & Kits, ELISPOT Reagents & Kits, Western Blot Reagents & Kits, And Other Reagents & Kits), Analyzers/instruments (Open ended systems and Closed ended systems), and Software & services

Market Segmentation (By Technology)

Radioimmunoassay (RIA), Enzyme Immunoassay (EIA) (Chemiluminescence Immunoassays (CLIA) and Fluorescence Immunoassays (FIA)), Rapid Test, Western Blotting, and Others

Market Segmentation (By Application)

Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Disease Testing, Autoimmune Diseases, Others

Market Segmentation (By Specimen Type)

Blood, Saliva, Urine, and Others

 

Market Segmentation (By End User)

Hospitals, Blood Banks, Clinical laboratories, Pharmaceutical and biotech Companies, Academic Research Centers, Others

Regions Covered

North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa

Key Players Coverage

Siemens Healthineers; Becton, Dickinson & Company; BioMérieux; Abbott laboratories; Roche Diagnostics; Danaher Corporation; Ortho Clinical Diagnostics; F. Hoffmann-La Roche Ltd; DiaSorin S.p.A., Sysmex Corporation; Thermo Fisher Scientific, Inc.; Merck KGaA, and Quidel Corporation, among others.

Key Insights

  • Latest Updates
  • Analyst Views
  • Future Outlook of the Market

Market Dynamics

Increase in occurrence of infectious and chronic diseases is anticipated to boost the demand. For instance, in 2017, as per the World Health Organization (WHO), around 65 million individuals in U.S. were dealing with Chronic Obstructive Pulmonary Disease (COPD). Furthermore, rise in geriatric population is anticipated to act as a key factor driving the immunoassay market growth. With old age, decreasing immunity makes individuals prone to numerous infections and chronic diseases. Thus, elderly population is vulnerable to diseases including hypertension, arthritis, diabetes, and dementia among others. For instance, as per the United Nations, in 2017, 962 million was global geriatric population and is anticipated to reach 2.1 billion by 2050, thereby fueling the growth potential of the market for immunoassay. Moreover, rise in incidence of infectious disorders like dengue, hepatitis, and neurological disorders is one of the key factors projected to create growth opportunities for the immunoassay market over the forecast period. For instance, according to the WHO, in 2017, about 5.8 million cases of severe dengue were registered in the Americas. Increase in occurrence of such diseases is expected to create profitable opportunities for the key market players, enabling the launch of novel immunoassay products, which would be added help in timely identification of numerous diseases.

However, lack of skilled professionals and low awareness about immunoassays in rural areas of low-income countries can hinder the market growth.

Figure 1. PORTER’S Analysis

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

North America is leading the market for immunoassays, owing to the well-developed healthcare infrastructure and increasing penetration of medical devices in the region. Furthermore, high spending on R&D by pharmaceutical companies and government organizations for diseases and disorders, such as chronic diabetes and ailments, are some of the major factors fueling the regional immunoassay market growth.

Asia Pacific is predicted to witness lucrative growth in the forthcoming years due to rise in healthcare spending in the emerging economies, such as India, South Korea, and China. Additionally, increased adoption of medical devices in countries such as South Korea is expected to aid in creating lucrative opportunities. For instance, owing to implementation of Korea-US Free Trade Agreement (KORUS FTA) in March 2012, all the medical devices imported to Korea will have duty free tariffs. This, enable various players to save significant revenue in immunoassay kits.

Figure 2. Regional Analysis

 

Note: The above figure shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

Competitive Landscape

Key players in the global immunoassay market include: Siemens Healthineers; bioMérieux; Danaher; Roche Diagnostics; Ortho Clinical Diagnostics; F. Hoffmann-La Roche Ltd; DiaSorin S.p.A., Abbott laboratories; Becton, Dickinson & Company; Sysmex Corporation; Thermo Fisher Scientific, Inc.; Merck KGaA, and Quidel Corporation, among others.

For instance, in December 2018, Quidel received a CE mark approval for its product Quidel’s Sofia 2 Lyme+ FIA to be used with Sofia 2 Fluorescent Immunoassay Analyzer for the fast differential detection of human IgM and IgG antibodies from plasma and serum specimens. Additionally, in June 2017, FlowJo and Becton, Dickinson & Company entered into an advertising collaboration, under which both the companies decided to provide cloud-based platform for immunoassay applications. Moreover, this partnership also allowed simultaneous measurement of 50 diverse characteristics of a single cell.

Figure 3. Market Share of Key Players, 2019

 

Note: The above figure shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

By Product Type

  • Reagents & kits
    • ELISA Reagents & Kits
    • Rapid Test Reagents & Kits
    • ELISPOT Reagents & Kits
    • Western Blot Reagents & Kits
    • Other Reagents & Kits
  • Analyzers/instruments
    • Open ended systems
    • Closed ended systems
  • Software & services

By Technology

  • Radioimmunoassay (RIA)
  • Enzyme Immunoassay (EIA)
    • Chemiluminescence Immunoassays (CLIA)
    • Fluorescence Immunoassays (FIA)
  • Rapid test
  • Western Blotting
  • Others

By Specimen Type

  • Blood
  • Saliva
  • Urine
  • Others

By Application

  • Therapeutic Drug Monitoring
  • Oncology
  • Cardiology
  • Endocrinology
  • Infectious Disease Testing
  • Autoimmune Diseases
  • Others

By End Users

  • Hospitals
  • Blood Banks
  • Clinical Laboratories
  • Pharmaceutical and Biotech Companies
  • Academic Research Centers
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
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Note: This report provides an in-depth analysis of the global immunoassay market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.

  • What are the trends adopted by key players in the global immunoassay market?
  • What key factors are expected to increase the demand for immunoassay market during the forecast period 2020-2025?
  • What are the major challenges inhibiting the growth of the global immunoassay market?
  • What is the total market value (US$ Mn) generated in the global immunoassay market by product type in 2019, and what are the forecasts by 2025?
  • Which technology is expected to dominate the global immunoassay market in the coming years?
  • Which application contribute highest CAGR (%) in the immunoassay market?
  • Which specimen type is expected to dominate the immunoassay market in the coming years?
  • Which end user of immunoassay is expected to propel the market in the foreseen future?
  • What was the total revenue generated by the global immunoassay market across different regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
  • Who are the key players contributing to the growth of the global immunoassay market, and what are the new strategies adopted by them to retain a market share in the industry?
  • What is the competitive strength of the key players in the global immunoassay market?
  • What are the major outcomes derived from Porter’s five forces? 
  • What are the new products which are going to be approved or launched in the upcoming years, which may have a huge impact on the market?
  • What insights are derived through the analysis of key players on the following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?

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