Albany, NY -- (SBWIRE) -- 07/18/2018 -- Immunochemicals are used to analyze various reactions and components of molecular mechanism. They are quality products with high specificity and selectivity and are developed for a wide range of applications in medical, pharmaceutical, and life science research. Immunochemicals are used in drug discovery, therapeutics, imaging, assay components, and as a research tools. They are also used to develop personalized medicine and protein therapeutics and to identify new targets to treat various chronic diseases. The global immunochemicals market is projected to expand at a significant CAGR during the forecast period owing to increasing research and development initiatives, rise in government funding in drug discovery and proteomic research, increase in incidence of chronic diseases, and rise in collaboration between industries and research institutes. Furthermore, increase in demand for personalized medicine and protein therapeutics, increased focus on drugs safety and efficacy, and identification of new targets for disease treatment are likely to boost the expansion of the market. However, high cost and stringent regulatory environment are factors restraining the global immunochemicals market.
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The global immunochemicals market can be segmented based on research area, application, end-user, and geography. Based on research area, the global immunochemicals market can be classified into autoimmune diseases, oncology, neurology, infectious diseases, metabolic diseases, and others. The infectious diseases segment, followed by the oncology segment, is expected to expand during forecast period owing a large patient base, increase in demand for targeted therapy, and rising research and development expenditure. In terms of application, the global immunochemical market can be segmented into drug discovery & development, proteomics, and genomics. The proteomic segment is expected to account for a prominent share of the market due to utilization of proteomic-based approaches in cancer profiling and biomarker detection and availability of funds from various research organizations. Based on end-user, the global immunochemical market can be divided into pharmaceutical and biotechnological companies, academic and research institutes, and others. The pharmaceutical and biotechnological companies segment is expected to hold significant share during the forecast period due to higher uptake of immunochemicals in the new drug discovery and development process.
In terms of geography, the global immunochemicals market can be categorized into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The market in North America is anticipated to be dominant, followed by Europe. Increasing incidence and prevalence of chronic diseases, well-established health care infrastructure, presence of a large number of biopharmaceutical companies and research institutes, increased research and development expenditure, higher adoption of advanced technologies, and higher health care spending are likely to propel the expansion of the global immunochemicals market in North America and Europe.
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The market in Asia Pacific is expected to expand at a high CAGR during the forecast period. The expansion is expected to be driven by presence of a large patient base suffering from chronic diseases such as cancer and rheumatoid arthritis in India and China, increasing demand for personalized medicine, increased government initiatives toward improving health, and developing health care infrastructure. The immunochemicals market in Latin America and Middle East & Africa is anticipated to expand during the forecast period, owing to increase in investments from major market players in these regions.
Leading players in the global immunochemicals market include Thermo Fisher Scientific, Inc., Rockland Immunochemicals Inc., Advanced ImmunoChemical, Inc., Immundiagnostik AG, LGC Biosearch Technologies, Becton, Dickinson and Company, LAMPIRE Biological Laboratories, Inc., Antibodies Inc., and Agilent Technologies.
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