Immunoassays Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Immunoassays Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Factors that are responsible for the growth of immunoassays market include cost-effectiveness, growth in the biotechnology and pharmaceutical sectors, and high sensitivity and specificity of immunoassays.

Compared to conventional tests, immunoassays have been proven to provide highly accurate results even with very small samples. These immunoassays are considered to have a detection limit of 1pg/ml, which can be attributed to the fact that immunoassays are based entirely on immunologic reactions. Immunologic reactions are highly specific, as they can take place only in the presence of proper immunologic agents. For instance, an antibody against a viral protein cannot bind with an antigen that is derived from bacteria. This high specificity indicates high accuracy in results, which enable high sensitivity in the detection of diseases. This high sensitivity not only helps in easy detection but also eliminates the need for secondary verifications, which ultimately saves a lot of costs. Thus, the high sensitivity, specificity, and cost-saving nature of immunoassays are driving the growth of the immunoassays market. However, factors, such as complex assay procedures and limitations associated with immunoassays, may hinder the market growth.

Key Market TrendsEnzyme Immunoassays (EIA) Segment is Expected to Hold Significant Market Share in Global Immunoassay Market

• In enzyme immunoassay (EIA), the immunologic agent is attached to an enzyme. Upon the immunologic reaction, the enzyme is released from the immunologic agent. It then reacts with the substrate, resulting in a color change. The assay results are directly proportional to the intensity of color change. EIAs are also known as enzyme-linked immunosorbent assays (ELISAs).
• EIAs are easy to perform, require little specialized equipment, and both experienced lab technicians and the research lab novice can learn EIA skills quickly. However, a better understanding of the elements and design of EIAs is useful.
• Due to the simple working principle, enzyme immunoassays are the most cost-effective among all the immunoassays. Consequently, they have the largest share in the global immunoassay market.

North America Dominates the Market and is Expected to do Same during the Forecast Period

Currently, North America dominates the market for immunoassays and is expected to continue its stronghold for a few more years. In the North American region, the United States holds the largest market share. This can be majorly attributed to the increasing incidence rates of chronic disorders, infectious diseases, increasing number of geriatric population, as well as due to the well-developed healthcare infrastructure and increasing penetration of medical devices in the region. Moreover, high expenditure on R&D by government organizations and pharmaceutical companies, for disorders and diseases, such as chronic ailments and diabetes, are some of the primary factors driving the regional market.

Competitive Landscape

The immunoassays market is moderately competitive and consists of several major players. In terms of the market share, few of the major players currently dominate the market. With rising need for healthcare development and the advances in immunoassays, few other smaller players are expected to enter the market. Some of the major players of the market are Abbott Laboratories Inc., Becton Dickinson and Company, Danaher Corporation, Hologic Inc., and Qiagen NV, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Abbott Laboratories
Becton Dickinson and Company
Danaher Corporation
Devon Medical Products
EDP Biotech Corporation
Hologic Inc.
Luminex Corporation
Meridian Life Science Inc.
Qiagen NV

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.