Automated Immunoassay Analysers Market Size By Product (Immunofluorescence, Chemiluminescence, ELISA, Enzyme Linked Fluorescent System, Multiplexed Assay System, Radioimmunoassay), By Application (Infectious Diseases, Endocrinology, Drug Monitoring, Cardi

Automated Immunoassay Analysers Market Size By Product (Immunofluorescence, Chemiluminescence, ELISA, Enzyme Linked Fluorescent System, Multiplexed Assay System, Radioimmunoassay), By Application (Infectious Diseases, Endocrinology, Drug Monitoring, Cardiology, Oncology, Allergy Testing), By End-use (Hospitals, Diagnostic Laboratories, Research & Academic Laboratories, Pharmaceutical & Biotechnology Companies), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024

Automated Immunoassay Analyzers Market will exceed USD 25.0 billion by 2024; as per a new research report.

Growing preference for automated instruments in hospitals and laboratories has significantly improved the efficiency and quality of laboratory operations. These products can meet the increasing demand for quality diagnostic testing despite of staff shortage, a commonly faced problem by diagnostic laboratories. Hence, rising in trends towards lab automation will increase the demand and adoption rate of automated immunoassay analyzers, boosting the business growth in the forthcoming years.

Increase in prevalence of infectious diseases across the globe will be one of the major market driving factor. Early detection of infectious diseases is important to reduce the chances of severe damage to the body. Awareness of diseases has increased the disease diagnosis in early stages for preventing complications by undergoing diagnostic tests. Growing number of cases with infectious diseases will boost the use of automated immunoassay analyzers, augmenting the industry growth.

Chemiluminescence immunoassay analyzers market is estimated to witness growth at a CAGR of 16.4% over the projection period. The growth is attributed to the accuracy and sensitivity of the diagnosis using low analyte concentration. These immunoassay analyzers improve the work competence by identification of over more than hundreds of analytes per hour. The higher receptiveness and veracity of chemiluminescence immunoassay propels the growth prospects for the automated immunoassay analyzers market.

The application of automated immunoassay analyzers in endocrinology segment is estimated to grow at a significant rate and was valued around USD 1,641.3 million in the year 2017. Soaring adolescent populations which are at elevated risk of growth of endocrine gland as a result of imbalance in hormones and spiraling prevalence of diabetes are the paramount factors impelling to drive the business growth.

The use of automated immunoassay analyzers in pharmaceutical and biotechnology companies is estimated to grow at a robust CAGR of 14.4% over the projection period. Drug monitoring applications that includes diagnosis of complications, such as toxicity, identification and subsequent customization of the optimal drug specific to the concerned patient. Multifarious key factors driving the growth of the market include, geriatric population with improved health care services, rising demand for genetic testing and drug profiling.

UK dominated the Europe automated immunoassay analyzers market and was valued around USD 767.8 million in the year 2017. Infectious diseases accounted for considerable economic and health burden in UK and costs around EUR 30 billion in 2017. Escalating incidences of infectious diseases will contribute to rapid automated immunoassay analyzers market growth.

India automated immunoassay analyzer market is estimated to grow at a CAGR of 18.2% during the forecast period. Increasing number of laboratories performing routine tests coupled with the growing awareness general health awareness will render the positive impact on the automated immunoassay analyzers market in the country.

Some of the notable automated immunoassay analyzers market participants include Abbott Diagnostics, Biokit, Biomerieux, Luminex Corporation, Roche Diagnostics, and Siemens Healthcare. The major strategy adopted by industry players include launching of technologically advanced innovative products. Industry participants are also focusing on product portfolio expansion to suit the requirements of different laboratory settings in terms of test volumes, assay menu, automation level and budget to stay ahead of the competition.