The expanding use of immunoassays, increasing demand for high quality healthcare services, and rapidly increasing geriatric population are the major factors that drives the global market.

Dallas, TX -- (SBWire) -- 01/14/2014 --The "Immunoassay Market [Technology (Enzyme, Fluorescent, Chemiluminescence, Radioimmunoassay), Analyzers & Reagents, Applications (Infectious Diseases, Cancer, Endocrinology, Cardiology), End Users (Hospitals, Laboratory, Academics)] - Global Forecast to 2018" provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global immunoassays market along with the estimates and forecasts of the revenue and share analysis.

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The global market is segmented by technology, application, product (analyzers and reagents), and end user. The global market, by technology, is further segmented into enzyme immunoassay, fluorescent immunoassay, chemiluminescence immunoassay, radioimmunoassay, and others. Enzyme immunoassay accounted for the largest share of the global market in 2012, owing to their long-term presence and high sensitivity. However, the chemiluminescence immunoassay market will see the highest growth in the next five years, which is attributed to the high-throughput and automation offered by CLIAs.

On the basis of application, the market has segments like oncology, infectious diseases, cardiology, bone and mineral, endocrinology, autoimmunity, toxicology, hematology (anemia), neonatal screening, and others. The infectious diseases segment commanded the largest share of 35.2% of the immunoassay market in 2012 due to the high specificity of immunoassay in diagnosing these diseases. Oncology will be the fastest-growing application owing to the high prevalence of cancer diseases worldwide and the development of a wide array of cancer biomarkers.

The immunoassay segment contributes about one-fourth to the IVD market and is valued at $13.0 billion in 2013. Immunoassay are characterized by high specificity, sensitivity, and low costs. It is estimated to be the second-fastest growing sector of IVD after molecular diagnostics. The immunoassay market will be driven by factors such as growing incidences of chronic and infectious diseases, increasing aging population, ongoing technological innovations, increasing demand for non-invasive diagnostic tools and techniques, and the identification and introduction of novel biomarkers. The availability of novel tests based on condition-specific markers and increasing adoption of immunoassay tests in emerging countries are also factors that exhibit growth opportunities for the immunoassay market. There is also an increasing demand for Lateral flow (LF) tests due to the need for immediate medical information and the demand for rapid test results, easy and convenient access, accuracy, and sensitivity. Thus LF tests are driving the immunoassays market.

Roche Diagnostics (Switzerland), Siemens Healthcare (Germany), Abbott Laboratories (U.S.), Danaher Corporation (U.S.), Ortho Clinical Diagnostics (U.S.), Alere, Inc. (U.S.), Sysmex Corporation (Japan), and DiaSorin S.P.A. (Italy) are the key industry participants. The immunoassay market is dominated by established players and is consolidated, with the top 5 players occupying more than 80% of the market. The market offers huge barriers for new entrants as the industry demands high capital investments for R&D and testing and manufacturing of products. Moreover, companies have to follow stringent regulations to get product approvals in various countries.

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