The global immunoassay market is consolidated. The prominent players operating in this market include Danaher (US), Thermo Fisher Scientific (US), Abbott Laboratories (US) and Roche (Switzerland). The surging incidence of chronic and infectious diseases, technological advancements of immunoassay products, and their massive adoptions are the major factors driving the growth of the market.
According to the new market research report Immunoassay Market is projected to reach USD 39.0 billion by 2026 from USD 28.4 billion in 2021, at a CAGR of 6.6%
The market is segmented by Product (Reagents & Kits, Analyzers), Technology (ELISA, IFA, Rapid Tests, Radio Immunoassay), Specimen (Blood, Saliva, Urine), Application (Infectious Diseases, Oncology), End User (Hospitals & Clinics) & Geography
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- Based on application, the market is segmented into infectious diseases, endocrinology, cardiology, autoimmune disorders, allergy diagnostics, oncology, bone & mineral disorders, toxicology, blood screening, newborn screening and other applications. Infectious diseases account for the largest share of the market, owing to the surging prevalence of infectious diseases and the rising use of immunoassays in diagnostics and management.
- Based on the product, the immunoassay market is segmented into reagents & kits and analyzers. In 2020, the reagents & kits segment accounted the largest share of the market. This segment is also expected to register the highest CAGR during the forecast period. The large share of this segment is attributed to their repetitive purchase and massive consumption for various diagnostic purposes.
- Based on the specimen, the immunoassay market is segmented into blood, saliva, urine and other specimens. Blood account for the largest share and are expected to grow at the highest CAGR of the market. The large market share is attributed to the surging number of blood donations and the increasing incidence of chronic and infectious diseases worldwide.
- Based on end user, the market is segmented into hospitals & clinics, clinical laboratories, pharmaceutical & biotechnology companies and CROs, blood banks, research & academic laboratories and home care settings. Hospitals & clinics account for the largest share of the market. The largest share is attributed to the high testing volumes. In addition, hospitals & clinics work as reference laboratories to small hospitals and physician offices.
- North America was the largest regional market for market in 2020. The large share of the North American market can be attributed to the increasing per capita healthcare expenditure and technologically advanced healthcare infrastructure which makes the regional market well established.
The global immunoassay market is consolidated. The prominent players operating in this market include Danaher (US), Thermo Fisher Scientific (US), Abbott Laboratories (US) and Roche (Switzerland).
Danaher (US) is one of the leading players in the immunoassay market. With a wide distribution network across the globe and a strong product portfolio, it has established itself as one of the leading market players. The company has a strong presence in the North America, Western Europe and Asia Pacific. The company has elevated its position in the immunoassay market with the acquisition of Biopharma business from General Electric Companys Life Sciences division, in March 2020. The acquisition created its global science and technology innovator company, known as Cytiva.
Thermo Fisher Scientific (US) is one of the leading players in the immunoassay market. The leading position can be attributed to its strong brand recognition and extensive product portfolio in this market. The company holds a strong foothold in the North America, Europe and Asia Pacific. The company competes with its massive products such as immunoassay kits, reagents, antibodies and immunoassay analyzers.
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This study involved four major activities in estimating the current size of the immunoassay market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.
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