Immunoassay Market to Surpass Market Valuation of USD 54.27 Billion by 2031 | SkyQuest Technology
The immunoassay market is set for robust growth, projected to expand from USD 35.12 billion in 2023 to USD 54.27 billion by 2031, at a CAGR of 5.59%. Key drivers include advancements in reagents, analyzers, and technologies like ELISA and CLIA. With applications in infectious diseases and endocrinology, this market is essential for hospitals, clinics, and laboratories worldwide.
Westford, USA, Oct. 24, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Immunoassay Market will reach a value of USD 54.27 Billion by 2031, with a CAGR of 5.59% during the forecast period (2024-2031). Growing prevalence of chronic illnesses, including infectious and noninfectious disorders, is a key driver of the market’s expansion. Similarly, there is an increasing demand for point-of-care technology to allow testing of large population subsets due to growing worries about infections caused by bacteria that are resistant to drugs and recurrent illness outbreaks in locations where the disease is endemic. The identification of cancer’s various phases, diagnosis, and oncogenesis can all be accomplished with the use of immunoassay techniques.
Browse in-depth TOC on the ” Immunoassay Market”
Pages – 242
Tables – 164
Figures – 78
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Immunoassay Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 35.12 Billion |
| Estimated Value by 2031 | USD 54.27 Billion |
| Growth Rate | Poised to grow at a CAGR of 5.59% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Technology, Specimen, Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growth in the biotechnology and biopharmaceutical industries |
| Key Market Opportunities | Opportunities for major players operating in the market |
| Key Market Drivers | Chronic diseases, infections, and pandemic response propel early diagnosis solutions |
Immunoassay Market Segmental Analysis
Global Immunoassay Market is segmented on the basis of product, technology, specimen, application, end user, and region.
By product, market is segmented into Reagents & Kits, Analyzers.
By technology, market is segmented into ELISA, CLIA, IFA, Rapid Tests, Western Blotting, ELISPOT, and Other Technologies.
By specimen, market is segmented into Blood, Saliva, Urine, and Other Specimens.
By application, market is segmented into Infectious Diseases, Endocrinology, Cardiology, Autoimmune Disorders, Allergy Diagnostics, Oncology, Bone & Mineral Disorders, Drug Monitoring and Testing, Blood Screening, Newborn Screening, and Other Applications.
By end user, market is segmented into Hospitals & Clinics, Clinical Laboratories, pharmaceutical & Biotechnology Companies and Contract Research Organizations, Home Care Settings, Blood Banks, and Research & Academic Laboratories.
By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
EIA/ELISA Technology to Hold Significant Growth due to Ability to Detect a Wide Range of Infections and Biomarkers
The broad sensitivity, specificity, and detection range of EIA/ELISA technology make it the industry leader in the global immunoassay market. Clinical diagnostics adopts these characteristics more frequently. It is largely used and speeds up market growth due to its reliable early disease detection, possibilities of automation, and affordability.
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Blood Specimen to Lead the Market due to Ability to Provide Comprehensive Diagnostic Information
Due to their simplicity of collection and capacity to yield extensive diagnostic information, blood specimens now dominate the global immunoassay market. Adoption in therapeutic settings rises as a result. Furthermore, influencing its popularity and bolstering their extensive usage in immunoassay testing, blood samples have a high degree of accuracy when it comes to diagnosing a wide range of disorders, including infections and chronic conditions.
North America to Dominate the Market Due to Strong Regulatory Support
Market leadership is the reason behind the sophisticated healthcare system, huge R&D expenses, and strong regulatory support in North America regarding immunoassay globally. In addition to this, the region’s focus on personalized care and early disease detection has led to an increase in demand for sophisticated immunoassay technologies while chronic conditions being predominant diseases have consequently made it a giant in diagnostics market.
Immunoassay Market Insight
Drivers:
- Growing Awareness of Diagnostic Benefits
- Increasing Focus on Preventive Healthcare
- Integration with Digital Health Technologies
Restraints:
- Market Economic Instability
- Potential for False Results
- Crowded Market with Numerous Players
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Prominent Players in Immunoassay Market
- Abbott Laboratories (US)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Siemens Healthineers AG (Germany)
- Danaher Corporation (US)
- Thermo Fisher Scientific Inc. (US)
- Revvity (US)
- Becton, Dickinson and Company (US)
- Diasorin S.p.A. (Italy)
- Bio-Rad Laboratories, Inc. (US)
- QuidelOrtho Corporation (US)
- BioMérieux (France)
- Qiagen N.V. (Netherlands)
- Sysmex Corporation (Japan)
- Agilent Technologies, Inc. (US)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- Merck KGaA (Germany)
- Meridian Bioscience (US)
- Bio-Techne (US)
- Cellabs (Australia)
- Abnova Corporation (Taiwan)
- J. Mitra & Co. Pvt. Ltd. (India)
- Tosoh Corporation (Tosoh Bioscience) (Japan)
- Cell Sciences (US)
- Enzo Biochem (US)
- Creative Diagnostics (US)
- Boster Biological Technology (US)
- Elabscience (China)
- Wako-Chemie Medical (Germany)
- Seracare Lifesciences Inc. (US)
- Epitope Diagnostics (US)
- Kamiya Biomedical Company (US)
- Gyros Protein Technologies (Sweden)
- Trivitron Healthcare (India)
- Inbios International, Inc. (US)
- Maccura Biotechnology Co., Ltd. (China)
Key Questions Answered in Global Immunoassay Market Report
- By 2031, how much is the global immunoassay market expected to be worth?
- Why do blood specimens dominate the global immunoassays market?
- With its wide sensitivity and specificity, which technology is predicted to have the most growth in the global immunoassay market?
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This report provides the following insights:
Analysis of key drivers (personalized medicine increases the need of this market, innovations in immunoassay technologies, growing healthcare facilities), restraints (Lengthy approval processes, delay product launches, complexity of some immunoassay technologies), opportunities (R&D of new assays, strategic alliances with healthcare providers, ongoing global health threats), and challenges (Resistance from traditionalists, compliance with varying regulatory standards) influencing the growth of immunoassay market.
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the immunoassay market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the immunoassay market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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