The Global Immunoassay Market was valued at $xx Mn in 2019 and is expected to reach $xx Mn by 2026, at a CAGR of xx%.
Market Introduction and Overview
Immunoassays are bio analytical methods in which the quantitation of the analyte depends on the reaction of an antigen and an antibody. Immunoassays have been widely used in many important areas of pharmaceutical analysis such as diagnosis of diseases, therapeutic drug monitoring, clinical pharmacokinetics and bioequivalence studies in drug discovery and pharmaceutical industries. The importance and widespread of immunoassay methods in the pharmaceutical analysis are attributed to their inherent specificity, high-throughput, and high sensitivity for the analysis of the wide range of analytes in biological samples. Recent improvements are achieved in the field of immunoassay development for the purposes of pharmaceutical analysis.
The prevalence and incidence of cancer cases are dramatically increasing globally, thus the application of immunoassay for early diagnosis and monitoring of cancer is growing gradually. According to American Cancer Society, lung cancer is one of the most common forms of cancer. In 2018, nearly 2.09 million people across the globe were living with lung cancer, and according to the WHO, this number is expected to increase by 2.27 million by 2020. Immunoassays have been one of the fast-growing clinical diagnostics technologies over the years. The technological advancements in immunoassays driven by the need for early detection of diseases have supported their adoption over the years, and hence have supported the immunoassay market growth.Important advances have been made in the design of immunochemical approaches that allow small molecules, such as drugs, metabolites, and toxins, to substitute dynamic format assays with non-competitive formats, bringing advantages are previously seen only with large molecular analytes.
The report has profiled fifteen key players in the market from different regions. However, report has considered all market leaders, followers and new entrants with investors while analysing the market and estimation the size of the same. The growing healthcare infrastructure in each region is different and focus is given on availability of advanced technology and new techniques
The report contains detailed analysis of Strengths, Weakness and opportunities of the key players operating in the Immunoassy Market. It also provides information on current market trends, competitive ranking analysis, regional bifurcation, turnover forecasts, industry drivers and the key challenges.
Segment Analysis
Radioimmunoassays have wide applications in cancer detection, blood screening for hepatitis, diagnosis of ulcers, and narcotics detection. These assays are capable of the quantification of very small concentrations of antigens from small volumes of samples with the help of radioisotopes, such as iodine-125 and iodine-131. The growth in this immunoassay market is primarily driven by the increasing prevalence of cancer across the globe and the resultant increase in suitable diagnostic technologies. However, these assays are relatively high-cost assays and have potential health hazards owing to the use of radioactive antigens. This, along with additional expenses towards maintaining radiation safety and disposal protocols limit their wide-scale use. Owing to these, radioimmunoassay is increasingly being replaced by EIAs and CLIAs, which is expected to hamper the growth of the radioimmunoassay market over the coming years.
Endocrine disorders have shown significant growth in recent years. Healthcare providers have started using immunoassay machines for the same. The endocrinology segment is expected to grow at a CAGR of 6.5% by 2026. Endocrinology tests have a wide range of applications, which include immunoassay analyzer testing, anti-TSH receptors testing, fertility testing, and women’s health testing. Such widespread applications are helping the segment expand at a faster pace, thereby growing the market.
Global Immunoassay Market
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Regional Analysis
Global Immunoassay Market1
The immunoassay market of North America is expected to dominate the market accounting for nearly 40% of the total market share and registering a CAGR of 6.0% in the forecast period. Growing mergers & acquisitions are observed among in-vitro diagnostic and life sciences players in North America. This is anticipated to largely propel the region’s growth in the future. Key market players are strengthening their product portfolio by venturing into various medical specialty domains.
Asia-Pacific is expected to emerge as the fastest-growing region, at a CAGR of 7.0% in the forecast period. This growth is attributed to the high prevalence and incidence rate of chronic and infectious diseases, which has increased per capita healthcare expenditure. Additionally, intensifying competition among diagnostic laboratories and hospitals and subsequent differentiation of products is expected to leverage demand for high-quality immunoassay analyzers, reagents and kits in the Asia-Pacific market.
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Global Immunoassay Market2
By Region
• North America
• Europe
• South America
• MEA
• Asia Pacific
Key players operating in the Global Immunoassay Market
• Siemens Healthineers
• Becton
• Dickinson & Company
• BioMérieux
• Abbott laboratories
• Roche Diagnostics
• Danaher Corporation
• Ortho Clinical Diagnostics
• Sysmex Corporation
• Thermo Fisher Scientific, Inc.
• Quidel Corporation
• Agilent Technologies
• PerkinElmer
• Mindray
• DiaSorin
The report also helps in understanding Global Immunoassay Market dynamics, structure by analysing the market segments and project the Global Immunoassay Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Immunoassay Market make the report investor’s guide.
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