In August 2023, Abbott received FDA approval for its Alinity h-series hematology system, enabling laboratories nationwide to run complete blood counts (CBC).
Northbrook, IL 60062 -- (SBWIRE) -- 11/28/2023 -- The immunoassay industry is poised for remarkable advancements in the near future. With rapid developments in biotechnology, automation, and data analytics, immunoassays are expected to become even more sensitive, specific, and accessible. This progress will not only revolutionize diagnostics and healthcare by enabling earlier disease detection and personalized treatments but also find applications in various sectors, including pharmaceuticals and environmental monitoring. The integration of cutting-edge technologies like microfluidics and artificial intelligence will streamline immunoassay processes, making them faster and more cost-effective. Furthermore, the industry will continue to contribute to global health by facilitating the monitoring of infectious diseases, autoimmune disorders, and cancer, making it an essential player in the ever-evolving landscape of modern medicine.
Immunoassay Market in terms of revenue was estimated to be worth $35.0 Billion in 2023 and is poised to reach $46.7 Billion by 2028, growing at a CAGR of 5.9% from 2023 to 2028 according to a new report by MarketsandMarkets™. The immunoassay market is driven by the increasing incidence of infectious and chronic diseases, increasing adoption of immunoassay-based POC testing and rapid testing, and introduction of innovative products by leading players operating in the immunoassay market. Growth in emerging countries and development of condition specific biomarkers and tests are anticipated to offer lucrative growth opportunities for the immunoassay market.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=436
Browse in-depth TOC on "Immunoassay Market"
307 - Tables
54 - Figures
394 - Pages
The reagents & kits accounted for the largest share of the immunoassay market, by product segment, in 2022.
The global immunoassay market is segmented into analyzers and reagents & kits based on product. High consumption of consumables such as kits and reagents and their repeated purchases along with the increasing number of immunoassay tests performed across the globe, are the factors supporting the growth of the reagents & kits product segment.
The hospitals & clinics segment accounted for the largest share of the immunoassay market, by end user, in 2022.
The increasing prevalence of chronic and infectious diseases and the availability of advanced technologies for their detection have led to significant growth of the hospitals & clinics end user segment. The segment is also anticipated to register the highest growth rate during the forecast period, owing to better testing facilities.
North America is the largest regional market for immunoassay market.
The global immunoassay market has been segmented into five major regions—North America, Europe, the Asia Pacific, the Middle East & Africa, and Latin America. In 2022, North America dominated the global immunoassay market in 2022. The large share of the North American market is primarily driven by the increasing geriatric population and the subsequent prevalence of chronic diseases, and the easy accessibility of technologically advanced instruments.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=436
Immunoassay Market Dynamics:
1. Growth in the biotechnology and biopharmaceutical industries
1. Stringent requirements for the approval of immunoassay instruments and consumables
1. Growth opportunities in emerging economies
1. Design challenges, complexities, and the quality of antibodies
Key Market Players of Immunoassay Industry:
The major players operating in this market are Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), and Siemens Healthineers (Germany).
- In August 2023, Abbott received FDA approval for its Alinity h-series hematology system, enabling laboratories nationwide to run complete blood counts (CBC).
- In July 2023, Siemens received FDA clearance and launched its Atellica CI Analyzer for immunoassay and clinical chemistry in the world's major markets.
- In June 2023, DiaSorin launched its CE marked LIAISON B·R·A·H·M·S MR-proADM assay to be used for the diagnosis of conditions, such as kidney diseases, sepsis, septic shock, lower respiratory and urinary tract infections.
- In December 2022, QuidelOrtho received approval from Health Canada for use of the Quidel TriageTrue High-Sensitivity Troponin I (hsTnl) Test to aid in the diagnosis of myocardial infarction.
- In October 2022, Roche received U.S. FDA granted Emergency Use Authorization (EUA) for its cobas MPXV for use on the cobas 6800/8800 immunoassay Systems.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=436
Immunoassay Market Advantages:
- High Sensitivity and Specificity: Immunoassays are known for their exceptional sensitivity and specificity, making them ideal for detecting and quantifying even low concentrations of target molecules, such as biomarkers and antibodies.
- Broad Application: Immunoassays have diverse applications in fields like clinical diagnostics, pharmaceutical research, food safety testing, and environmental monitoring, making them versatile tools for various industries.
- Rapid Results: Many immunoassays provide fast results, which is crucial for timely diagnosis and decision-making in healthcare settings.
- Non-Invasive: They often require minimally invasive sample collection methods, reducing patient discomfort and risk of infection.
- Quantitative Data: Immunoassays can provide quantitative data, allowing for precise measurements of analyte concentrations, which is essential for treatment decisions and research.
- Automation: Many immunoassay processes can be automated, leading to reduced human error, increased throughput, and cost savings in high-throughput settings.
- Long Shelf Life: Immunoassay reagents and kits generally have a longer shelf life, improving their practicality for labs and healthcare facilities.
- Customization: Assays can be tailored to target specific molecules or markers, enabling a wide range of applications and customization for research or clinical needs.
- Clinical Significance: Immunoassays are pivotal in diagnosing and monitoring a wide array of diseases, from infectious diseases to autoimmune disorders and cancer, contributing significantly to improved patient care.
- Research and Development: They play a vital role in drug development and validation, helping researchers study the pharmacokinetics and pharmacodynamics of new drugs.
- Quality Control: In industries like food and beverage and pharmaceuticals, immunoassays are crucial for quality control and ensuring product safety.
- Environmental Monitoring: Immunoassays are valuable in monitoring pollutants and contaminants in the environment, contributing to ecological conservation and public health.
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062