The Immunoassay Market is driven by increasing prevalence of chronic diseases, advancements in biomarker discovery, and rising demand for rapid diagnostic techniques. Technological innovations and growing healthcare expenditure further boost market growth. However, market expansion is restrained by high costs of immunoassay equipment, stringent regulatory requirements, and the need for skilled professionals. Additionally, potential for cross-reactivity and variability in test results pose significant challenges.
Lewes, Delaware, Aug. 05, 2024 (GLOBE NEWSWIRE) — The Global Immunoassay Market Size is projected to grow at a CAGR of 4.67% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 27.53 Billion in 2023 and is expected to reach USD 39.6 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Immunoassay Market Size”
202 – Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2020-2031 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Abbott Laboratories, Danaher Corporation, Quidel Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Bio-Rad Laboratories, Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Siemens Healthineers AG, Johnson & Johnson, Meriden Life Sciences, Trinity Biotech plc, and more |
| SEGMENTS COVERED | Product, Technology, Specimen, Application, End-User, And Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Immunoassay Market Overview
Increasing Prevalence of Chronic Diseases: The Immunoassay Market is greatly influenced by the increasing prevalence of chronic diseases like cancer, diabetes, and cardiovascular disorders. With the increasing need for precise and timely diagnosis, immunoassays have become indispensable tools. This has led to a significant growth in the market and has opened up profitable opportunities for professionals in the industry.
Advancements in Biomarker Discovery: The Immunoassay Market has been greatly impacted by recent technological advancements in biomarker discovery. These advancements greatly improve the accuracy and effectiveness of immunoassays, making them essential in both clinical diagnostics and research. The rapid advancements in this industry drive the growth of the market and attract significant investments.
Rising Demand for Rapid Diagnostic Techniques: The demand for fast and dependable diagnostic techniques is a crucial factor in driving the growth of the Immunoassay Market. Point-of-care testing and home-based diagnostics are becoming increasingly popular, providing rapid results and enhancing patient outcomes. The increasing demand in this field has led to a rapid growth in the market, which has in turn motivated companies to create more sophisticated immunoassay products.
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High Costs of Immunoassay Equipment: The Immunoassay Market encounters obstacles due to the significant expenses linked to immunoassay equipment and reagents. The costs associated with these services can pose a significant barrier for smaller healthcare facilities and research institutions, which can hinder their ability to expand into cost-sensitive regions and impede overall growth.
Stringent Regulatory Requirements: The regulatory requirements for immunoassay products are quite strict and can be quite time-consuming, which can pose a significant challenge for the market. The lengthy approval processes and compliance costs can be obstacles to the introduction of new products, which can have a negative impact on market growth and discourage innovation.
Need for Skilled Professionals: The Immunoassay Market is also limited by the need for experienced professionals to handle and interpret immunoassay tests. In certain regions, the lack of well-trained personnel can result in mishandling of tests and unreliable results, which can undermine the credibility of the market and hinder the rate of adoption.
Geographic Dominance:
North America is a leading player in the Immunoassay Market, thanks to its advanced healthcare infrastructure, significant investments in research and development, and the strong presence of key market players. This dominance drives market growth by encouraging innovation and early adoption of new technologies. Europe’s market strength is fueled by comprehensive healthcare coverage and strong diagnostic research. Meanwhile, the rapid growth in the Asia-Pacific region, driven by a surge in healthcare investments and the increasing prevalence of diseases, offers significant prospects for expanding the market.
Immunoassay Market Key Players Shaping the Future
Major players, including Abbott Laboratories, Danaher Corporation, Quidel Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Bio-Rad Laboratories, Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Siemens Healthineers AG, Johnson & Johnson, Meriden Life Sciences, Trinity Biotech plc,. and more, play a pivotal role in shaping the future of the Immunoassay Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
Immunoassay Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Immunoassay Market into Product, Technology, Specimen, Application, End-User, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Immunoassay Market, please Contact Verified Market Research®.
- Immunoassay Market, by Product
- Reagents & Kits
- ELISA Reagents & Kits
- CLIA Reagents & Kits
- IFA Reagents & Kits
- Rapid Test Reagent & Kits
- ELISpot Reagent & Kits
- Western Blot Reagent & Kits
- Other Reagents & Kits
- Analyzers
- Open Ended Systems
- Closed Ended Systems
- Immunoassay Market, by Technology
- ELISA
- Chemiluminescence Immunoassay (CLIA)
- Immunofluorescence Assay (IFA)
- Rapid Tests
- ELISpot
- Western Blotting
- Other Technologies
- Immunoassay Market, by Specimen
- Blood
- Saliva
- Urine
- Other Specimens
- Immunoassay Market, by Application
- Infectious Diseases
- Endocrinology
- Oncology
- Bone & Mineral Disorders
- Cardiology
- Blood Screening
- Autoimmune Disorders
- Allergy Diagnostics
- Toxicology
- Newborn Screening
- Other Applications
- Immunoassay Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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