Immunoassay Market by Product & Service (Reagents & Kits, Analyzers, Software), Technology (ELISA, Rapid Test), Platform (Radioimmunoassay), Specimen, Application (Infectious Diseases, Oncology, Cardiology), End User (Hospitals) – Global Forecast to 2023
“The global immunoassays market is projected to grow at a CAGR of 6.1% during the forecast period.”
The immunoassays market is expected to reach USD 27.15 billion by 2023 from USD 20.19 billion in 2018, at a CAGR of 6.1%. The increasing incidence of chronic and infectious diseases, technological advancements in immunoassay instruments and introduction of novel automated systems, growth in the biotechnology and biopharmaceutical industries, increasing adoption of immunoassay-based point-of-care testing and rapid testing, and the vital role of immunoassays in drug and alcohol testing are the major factors driving the growth of this market. On the other hand, stringent regulatory requirements for the approval of immunoassay instruments and consumables and the implementation of excise duty by the US government are expected to restrain the growth of this market during the forecast period.
“Hospitals to dominate the end-user market during the forecast period.”
By end user, the immunoassays market is segmented into hospitals, clinical laboratories, blood banks, research and academic laboratories, pharmaceutical and biotechnology companies and contract research organizations (CROs), and other end users. The hospitals segment is expected to grow at the highest CAGR during the forecast period. Immunoassays are widely used by hospitals and hospitals-attached laboratories for the diagnosis of infectious diseases, which is the key factor driving the growth of this end-user segment.
“Asia Pacific is estimated to grow at the highest CAGR during the study period.”
The immunoassays market in the Asia Pacific region is expected to register the highest CAGR during the forecast period. Growth in this region can be attributed to the demand for better healthcare services, increasing incidence of chronic and infectious diseases, rapid development in the healthcare infrastructure of developing countries such as India, China, and South Korea, growing healthcare research investments in this region, and increasing per capita income of the middle-class population in the region.
The primary interviews conducted for this report can be categorized as follows:
By Company Type - Tier 1 - 60%, Tier 2 - 20% and Tier 3 - 20%
By Designation - C-level - 40%, Director-level - 20%, Others - 40%
By Region - North America - 50%, Europe - 20%, Asia Pacific- 30%
The key players in the immunoassays market include DiaSorin (Italy), Siemens (Germany), bioMérieux (France), Abbott Laboratories (US), Roche (Switzerland), Sysmex Corporation (Japan), Danaher Corporation (US), Ortho Clinical Diagnostics (US), Thermo Fisher Scientific (US), QIAGEN (Netherlands), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Merck (Germany), Agilent Technologies (US), Quidel Corporation (US), Bio-Techne Corporation (US), PerkinElmer (US), and Mindray (China).
The report analyses the immunoassays market by product and service, platform, technology, specimen type, application, end user, and region. Apart from a comprehensive geographic product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. The company profiles include the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. Market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output to remain successful in the market.
Key benefits of buying the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms to garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned strategies to strengthen their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the immunoassays market
Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the immunoassays market
Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the immunoassays market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various immunoassays across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the immunoassays market