Boston, MA -- (SBWIRE) -- 11/28/2013 -- Immunoassay have evolved as an integral part of the modern medical care practice owing to the continuous technological advancements in this field, the increase in healthcare awareness among people, and the increasing use of immunoassay tests in diagnosis and monitoring.

This research report categorizes the global on the basis of technology, application, product (analyzers and reagents), and end user. On the basis of technology, the enzyme immunoassay segment accounted for the largest share of the global market in 2012. Long-term presence in the market, high sensitivity for infectious/viral disease testing, and the huge demand from developing countries due to the lower costs of enzyme immunoassay in comparison to chemiluminescence immunoassay (CLIA) are all factors that are responsible for its growing share in the market. On the basis of product, the reagents market accounted for the largest share of this market in 2012. The accessibility of a wide range of reagents and the need for reliable, specific, and faster detection of chronic diseases at early stages are factors that are expected to drive the immunoassay reagents market.

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The infectious diseases segment in the market is a high-volume, high-growth rate market. Major players such as Roche Diagnostics, Ortho Clinical Diagnostics (J&J), and bioMerieux are continuously launching new product models in order to gain a competitive edge in the infectious diseases segment, primarily because of the high immunoassay penetration rate in this segment.

Geographically, the Americas commanded the largest market share of the global market, followed by Europe. The factors driving the growth of the market in these geographies are the well-established diagnostic infrastructure, aging population, and rising acceptance of personalized medicine. However, on the other hand, the economic downturn and cuts in healthcare budgets are hampering the growth of the market. Countries like China, India, Australia, and Brazil will be major contributors of the growth of the market in the future. This market in China is poised to grow at a CAGR of 15.6% from 2013 to 2018. Increasing investments by leading companies in these immature markets, rising public awareness about personal health, and improving healthcare infrastructure in these regions are driving the growth of the market.

The deviations and the overlap of revenues between the various segments, especially in applications quoted in a number of sources was the major challenge faced while estimating the market size. This challenge was overcome by validating the data through a large number of industry experts and key opinion leaders.

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