Global Immunoassay Market Size to Reach USD 55.85 Billion in 2030 | Emergen Research

Increase in prevalence of chronic and infectious diseases is a key factor driving market revenue growth

Vancouver, Aug. 22, 2023 (GLOBE NEWSWIRE) — The global immunoassay market attained a significant valuation of USD 39.72 Billion in the year 2021. Projections based on the latest analysis by Emergen Research indicate that the market is anticipated to sustain a compound annual growth rate (CAGR) of 3.9% throughout the forecast period. This growth trajectory is attributed to the escalating prevalence of both chronic and infectious ailments, which serves as a substantial impetus for the expansion of market revenue.

Remarkably, the International Diabetes Federation (IDF) reported that approximately 537 million individuals across the globe were grappling with diabetes in the year 2021. This statistic is projected to ascend, reaching an estimated count of 643 million by the year 2030. Immunoassay technologies play a pivotal role within the field of diabetology, facilitating the quantification of essential markers like HbA1c, C-peptide, insulin, and beta cell autoantibodies. These biomarkers are of paramount importance for diagnosing and effectively categorizing diabetes mellitus.

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Furthermore, a noteworthy catalyst behind the growth of market revenue is the introduction of advanced immunoassay technologies. An illustrative example of this trend is the recent launch by Neogen Corporation in September 2022. This launch marked the debut of the innovative Veratox VIP test specifically designed for cashew allergen detection. This novel offering stands as the second installment within Neogen’s new Veratox VIP series, showcasing an elevated range of quantitative Enzyme-Linked Immunosorbent Assay (ELISA) kits.

Distinguished by its robust performance across diverse sample types, the new Veratox VIP test for cashew allergy maintains adherence to the fundamental testing methodology characteristic of the Veratox product line. A notable feature of this product is its versatility in accommodating an extensive array of product categories and processing conditions, extending from heat-processed to ultra-high temperature matrices. Importantly, the testing protocols for Veratox VIP for Cashew mirror those utilized by Neogen for its other Veratox products. These protocols encompass a time-efficient 30-minute duration to yield results and the utilization of readily accessible, non-hazardous reagents, contributing to the product’s ease of use and safety.

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Scope of Research

Major Companies and Competitive Landscape

The global immunoassay market is highly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, and introducing more effective assays. Some major players included in the global immunoassay market report are:

• Siemens Healthcare GmbH
• Biomérieux
• Abbott
• Becton Dickinson and Company
• Beckman Coulter, Inc.
• Hologic, Inc.
• Ortho Clinical Diagnostics
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific

Strategic Development

• In February 2021, Agilent Technologies Inc. introduced Agilent Dako SARS-CoV-2 IgG Enzyme-Linked Immunosorbent Assay (ELISA) kit, which is designed to detect Immunoglobulin G (IgG) antibodies to SARS-CoV-2 in human serum or plasma. This kit is a two-step qualitative indirect ELISA for detecting human IgG antibodies to SARS-CoV-2 S1 RBD protein. It is designed to help in identification of people who have an adaptive immune response to SARS-CoV-2, suggesting recent or past infection.
• In August 2020, Promega Corporation announced the availability of a novel serological antibody test for COVID-19 that detects antibodies against SARS-CoV-2 virus. Promega NanoBiT bioluminescence complementation technology generates a luminescent signal that is recognized on a luminescent-capable microplate reader when SARS-CoV-2 antibodies are present in a patient’s serum or plasma sample. Large patient populations can be tested more quickly with Lumit Dx SARS-CoV-2 Immunoassay owing to its rapid and straightforward methodology, which is easily adaptable to most liquid handlers.

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Some Key Highlights From the Report

• The reagents and kits segment accounted for a significant revenue share in 2021. Immunoassay kits identify compounds of interest by using immunological proteins, or antibodies. These molecules of interest might be antigens from bacteria or viruses, hormones, or antibodies. Multiplex immunoassays have expanded applications of immunoassay reagents and kits in a wide range of sectors including pharmaceutical businesses, biotechnology and life science firms, Food & Beverage (F&B) companies, and environmental monitoring, in addition, demand for immunoassay testing kits is being driven by launch of molecular tests, as well as increase in reagent and kit sales.
• The Enzyme-Linked Immunosorbent Assay (ELISA) segment accounted for a significant revenue share in 2021. ELISA employs a variety of antigen-antibody combinations, always incorporating an enzyme-labeled antigen or antibody, and enzyme activity is colorimetrically evaluated. These are simple to operate, need no specialized equipment, and both experienced lab personnel and research lab novices may rapidly master ELISA abilities. The test is most commonly used to detect or diagnose viral infection, particularly infection of blood-borne viruses, such as Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), and HIV. Increasing prevalence of these illnesses is expected to drive market revenue growth of this segment.

• The North America market accounted for largest revenue share in 2021 due to significant investments in healthcare facilities. In addition, increasing incidences of chronic diseases, such as cancer, is also driving market revenue growth in this region. Moreover, the government is conducting various programs to raise public awareness of early diagnosis. For instance, National Diabetes Education Program (NDEP), which is conducted in collaboration between Centers for Disease Control and Prevention (CDC) and National Institutes of Health, aims to lower prevalence of prediabetes by educating population on various health implication of diabetes and related measures.

• On December 2021, ArcticZymes Technologies ASA announced to release a new ELISA immunoassay product, which is an important support product for clients that use M-SAN HQ enzyme in biomanufacturing processes for gene therapy and viral vaccine production. The novel immunoassay product, when combined with MSAN HQ enzyme, provides a full solution for the important eradication of DNA contamination during biomanufacturing.

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Emergen Research has segmented the global immunoassay market based on product, technology, application, end-use, and region:

• Product Outlook (Revenue, USD Billion; 2019-2030)

• • Reagents and Kits
  • Instruments

• Technology Type Cycle Outlook (Revenue, USD Billion; 2019-2030)

• • Radioimmunoassay (RIA)
  • Enzyme-Linked Immunosorbent Assay (ELISA)
  • Rapid Test
  • Fluoroimmunoassay (FIA)
  • Chemiluminescence Immunoassay (CLIA)
  • Others

• Application Type Cycle Outlook (Revenue, USD Billion; 2019-2030)

• • Therapeutic Drug Monitoring
  • Oncology
  • Cardiology
  • Endocrinology
  • Infectious Disease Testing
  • Autoimmune Diseases
  • Others

• End-Use Outlook (Revenue, USD Billion; 2019-2030)

• • Hospitals
  • Biotechnology & Pharmaceutical Industries
  • Blood Banks
  • Clinical Laboratories
  • Academic Research Centers
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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