July 14, 2022
(press release)
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The rising number of infectious disease and cancer patients, the global population that is rapidly ageing and increased automation in the field of medicine are the primary drivers of the market. Insights into the Immunoassay Market: By Type or Platform, Enzyme Immunoassays dominated the market. By Technique, the enzyme-linked immunosorbent assay (ELISA) leads the market. By Application, the infectious diseases segment held the highest market share. By Product Type, Reagents and kits dominated the market. By End Users, hospitals held the highest share. By Specimen, blood had the leading share of the market. By region, North America dominated the market. To get a first-hand overview of the report, Request a Sample at https://www.strategicmarketresearch.com/request-sample/immunoassay-market Factors behind rapid market growth: A rise in the number of infectious diseases: Infectious diseases are those diseases which are primarily caused by micro-organisms like bacteria, fungi, viruses and parasites. There has been a rising number of infectious diseases across the globe due to rapid urbanization coupled with exponential deforestation. According to the CDC, over 3 million primary diagnoses in Emergency Rooms are either infectious or parasitic diseases, and at the doctor's offices, the number rises to above 7 million. According to the WHO, over 17 million people die of infectious diseases. Therefore, with the rising number of cases of infectious diseases, the market for immunoassays would rapidly grow and expand into more developing countries. Increasing cases of cancer: Cancer is a non-communicable disease considered to be chronic and among the leading causes of death across the globe. According to the WHO, the number of deaths due to cancer each year is estimated to be over 10 million people. Data as made available by the International Agency for Research on Cancer, over 19 million cases of cancer were diagnosed in 2020, compared to 10 million cases in 2000, meaning the occurrence of cancer has nearly doubled in two decades. According to WHO studies, adjusted for inflation, the economic cost of Cancer is USD 1.55 trillion as of 2022. Thus, with the rising number of cancer cases, the market for immunoassay is set to witness a period of accelerated growth. An Ageing Population: The world is reeling from a unique problem - where the overall age of the population is increasing, and infants being born is much lesser than it was a few decades ago. According to the data from OECD, the world's population over the age of 65 has nearly doubled from 5.3% in 1970 to 9.33% in 2020. As per WHO estimates, there will be 2.1 billion people who will be above the age of 60 by 2050, nearly 21% of the total population. Thus, with a rising ageing population, the number of diseases associated with old age would increase; hence, the need for immunoassay tests would also rise. Automation of medical processes: Many processes are getting automated, especially in the field of medicine. Automating immunoassays is convenient, economical, reduces variability and most importantly, reduces the factor of human error. Hence, we expect to see a rapid rise in automated immunoassays across labs and clinics globally, thereby giving more accurate test results. Thus, with the automation of the process, the market would continue to see tremendous growth. Make a Direct Purchase of the latest Recombinant Immunoassay Market Report published in the month of January 2022. Click the below link to initiate the purchase: https://www.strategicmarketresearch.com/buy-now/immunoassay-market Report CoverageDetails Forecast Period 2020-2030 Forecast Period 2020 to 2030 CAGR7.3% 2030 Value ProjectionUSD 45.82 Billion Base Year2020 Market Size in 2020USD 22.65 Billion Historical Data for2015 - 2019 No. of Pages135 Companies Abbott,Agilent Technologies,BD,Beckman Coulter,BioCheckbioMrieux SA,Bio-Rad Laboratories,Bio-Techne,DiaSorin S.p.A,F. Hoffmann-La Roche Ltd, Luminex Corporation Merck KGaA, Meso Scale Diagnostics, Ortho Clinical Diagnostics, PerkinElmer Inc, QIAGEN, Quidel Corporation Randox Laboratories Ltd, Shenzhen Mindray Bio-Medical Electronics Co, Siemens, Thermo Fisher Scientific Leading Segment By Type/ PlatformRadioimmunoassay (RIA) Leading RegionNorth America Segments coveredBy Type/ Platform, By Technique, By Application, By End-User, By Product, By Specimen Type, By Region Growth Drivers The rising number of infectious disease and cancer patients, a global population that is rapidly ageing and increased automation in the field of medicine are the primary drivers of the market. Descriptive Analysis of the Immunoassay market segments: By Type / Platform Colloidal Gold Immunochromatographic AssayRadioimmunoassayElectrochemiluminescence ImmunoassayEnzyme ImmunoassayChemiluminescence ImmunoassayFluoroimmunoassay By Technique Western BlottingCD/DVD- based immunoassay Enzyme-Linked Immunosorbent Assays (ELISA)Enzyme-Linked ImmunospotImmuno-PCR (I-PCR)Rapid Tests By Application Infectious DiseasesRespiratory DiseasesAllergiesOncologyThyroidHaematologyEndocrinologyCardiologyOthers By End-User HospitalsPharmaceutical companiesBiotechnological companiesClinical LaboratoriesOthers By-Products Reagents and KitsAnalyzers By Specimen Type BloodSalivaUrineOthers By Region North America CanadaUSAMexico Europe Germany FranceUnited KingdomItalyNorwaySpainNetherlandsLatviaRest of Europe Asia Pacific ChinaIndiaSouth KoreaJapanThailandVietnamIndonesiaAustralia - New ZealandMalaysiaRest of Asia Pacific Latin America, Africa and the Middle East (LAAME) BrazilArgentinaMoroccoEgyptSouth AfricaNigeriaSaudi ArabiaQatarUAERest of LAAME Before initiating a purchase, make a Pre-order enquiry and get a detailed overview of the content of the report. https://www.strategicmarketresearch.com/pre-order-enquiry/immunoassay-market By Type/ Platform, the market is dominated by Enzyme immunoassays due to their cost and energy effectiveness, and being time-efficient. According to the CDC, there are over 15 enzyme immunoassay tests available for testing parasites in stool samples, which reduces the burden of having a trained microbiologist, and are relatively quick to perform. Hence, the market category would continue to be dominated by EIAs. Enzyme-Linked Immunosorbent Assays (ELISA) tests are a dominant technique for conducting immunoassays. The primary reason for this is the ability of the test to detect multiple antigens, proteins, hormones and lipoproteins, among other molecules. ELISA tests are known to give highly accurate results, are very quick to perform, and provide easy diagnoses for complex diseases. CDC consistently used ELISA tests to detect COVID-19 and for people infected with the virus, with a 99% specificity and 96% sensitivity. By Application, infectious diseases dominated the market due to their high occurrence rate. According to CDC, the most common infections are chlamydia, influenza, staph, E.Coli, Herpes simplex and tuberculosis. Approximately one out of five people are infected with chlamydia. According to the WHO, AIDS, malaria and tuberculosis (TB) are responsible for more than 5 million deaths, which is around 50% of all deaths related to infectious diseases. Thus, with the rising number of patients with infectious illnesses, the market for immunoassays is said to grow quickly in the short term. By end-user, the market is dominated by hospitals. Immunoassays are used for the diagnoses of a number of diseases, and since most patients approach ERs and hospitals for diagnoses of these diseases, hospitals would likely remain the dominant segment in the category. As per the American Hospital Association, there were more than 33.5 million hospital admissions in 2020. With more patients requiring hospitalizations for multiple diseases, the number of immunoassays conducted would further increase. Blood dominated the specimen type as blood tends to contain an immense number of biochemicals that assist in diagnosing and treating diseases. According to American Clinical Laboratory Association, more than seven billion blood tests are performed in the country every year. By region, North America had the highest market share. USA and Canada both have highly advanced healthcare infrastructure which supports research and development of new techniques for diagnosing and treating multiple diseases. With rapidly advancing technology and increased spending on healthcare by the government and individuals, the market for rapid immunoassays would increase swiftly. Companies Dominant in the Immunoassay Market : Thermo Fisher Scientific CorporationAbbott LaboratoriesSiemens AGAgilent Technologies, Inc. BD BiosciencesMindray Bio-Medical Electronics CoQIAGENQuidel CorporationBeckman Coulter Inc.PerkinElmer IncbioMerieux SAOrtho Clinical DiagnosticsBio-Rad LaboratoriesBio-TechneMeso Scale DiagnosticsMerck Inc.DiaSorin S.p.ALuminex CorporationF. Hoffman-La Roche Ltd.Randox Laboratories To read the summary of the report, visit the website at https://www.strategicmarketresearch.com/market-report/immunoassay-market Recent Developments In July 2022, researchers at the University of Tokyo developed a new, paper-based immunoassay. The product aims to detect SARS-CoV-2 within a short span of time (approximately 10-20 minutes). In July 2022, Omesti Holdings and 360 Medic Holdings announced a joint venture to set up and operate new diagnostic and screening centres in Malaysia. The joint venture aims to provide services such as MRI and CT scans, with a focus on immunoassay tests. In July 2022, Promega developed a new immunoassay test, Limit Cytokine Immunoassay. The test aims at reducing the time as compared to ELISA (c) 2022 Global Data Point. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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