The Report Immunoassay Market Size, Share
& Trends Analysis Report By Product (Reagents & Kits, Software &
Services), By Technology (RIA, EIA, Rapid Test), By Application, By End Use,
And Segment Forecasts, 2019 – 2025
The global immunoassay market size was estimated at USD
18.02 billion in 2018 and is expected to exhibit a CAGR of 5.0% during the
forecast period. Increase in incidence of chronic and infectious diseases is
expected to accelerate the demand. For instance, according to the World Health
Organization (WHO), in 2017, about 65 million individuals in U.S. were
suffering from Chronic Obstructive Pulmonary Disease (COPD). This factor is
anticipated to bode well for regional demand in the forthcoming years.
Extensive usage of immunoassay techniques for
detection of infectious and chronic diseases is the prime factor driving the
growth. In addition, launch of novel products coupled with rapid technological
advancements are anticipated to drive the market. For instance, Quidel
Corporation received CE mark approval in 2018 for its product Sofia, which is a
Quantitative Vitamin D Assay used with Sofia instrument.
Moreover,
collaborations and partnerships among medical device giants are expected to
provide new growth platforms for immunoassay techniques, such as
radioimmunoassay, rapid tests, and enzyme immunoassays among others. For
instance, Roche Diagnostics and GE Healthcare entered into a partnership to
develop and market digital clinical decision systems in January 2018. This
partnership aided in improving cancer and critical care.
Furthermore,
automation has benefits such as efficiency and optimal usage of labor and space
in laboratories. Thus, the immunoassay market is witnessing lucrative growth as
some players are introducing automated laboratory systems, point-of-testing
compact, and portable assay tests. For instance, launch of innovative products
such as compact and portable ichroma II by Boditech Med, Inc., which is an
FDA-approved fluorescence scanning instrument used for influenza screening.
North
America held a significant market share in 2018, attributed to high R&D
investments by pharmaceutical and medical device manufactures and favorable
government insurance policies. For instance, in May 2018, a bill was approved
by the U.S. congress, as per which an individual can try unproven medical aids,
which includes drugs, medications, and devices, in case of severe illness.
Key
Takeways Of The Report :
· Reagents and kits accounted for a significant market
share of about 72.0% in 2018, owing to extensive application of the products
· Closed-ended systems is expected witness a profitable
CAGR over the forecast period due to associated advantages, such as sterility,
and cheaper rates as compared to open-ended systems
· Asia Pacific is anticipated to witness significant CAGR
over the forecast period due to rising healthcare spending and healthcare
investments by many companies
· Key players operating in the immunoassay market are
Quidel Corporation; Ortho Clinical Diagnostics; Roche Diagnostics; and Thermo
Fisher Scientific, Inc. among others
· The industry participants engage in extensive research
activities to develop novel immunoassays for diagnosis of infectious and
chronic diseases.
Grand
View Research has segmented the global immunoassay market report on the basis
of product, technology, application, end use, and region:
·
Technology Outlook (Revenue, USD Million, 2014 - 2025)
·
Radioimmunoassay
(RIA)
·
Enzyme
Immunoassay (EIA)
o Chemiluminescence
Immunoassays (CLIA)
o Fluorescence Immunoassays
(FIA)
·
Rapid
test
·
Others
·
Product Outlook (Revenue, USD Million, 2014 - 2025)
·
Reagents
& kits
·
Analyzers/instruments
o Open ended systems
o Closed ended systems
·
Software
& services
·
Application Outlook (Revenue, USD Million, 2014 - 2025)
·
Therapeutic
drug monitoring
·
Oncology
·
Cardiology
·
Endocrinology
·
Infectious
disease testing
·
Autoimmune
diseases
·
Others
·
End Use Outlook (Revenue, USD Million, 2014 - 2025)
·
Hospitals
·
Blood
banks
·
Clinical
laboratories
·
Pharmaceutical
and biotech companies
·
Academic
research centers
·
Others
·
Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North
America
·
Europe
·
Asia
Pacific
·
Latin
America
·
Middle
East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
