The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global immunoassay market is projected to reach USD 39.0 billion by 2026 from USD 28.4 billion in 2021, at a CAGR of 6.6% during the forecast period. Market growth is largely driven by the rising incidence of chronic and infectious diseases, technological advancements of immunoassay products, and their massive adoptions. Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market. In contrast, the stringent regulatory scenario and technical hurdles of the immunoassay products may restrict market growth to a certain extent. The immunoassay market is segmented based on product, technology, specimen, application, end user and region.
“Reagents & kits segment is expected to dominate the market during the forecast period and is also expected to grow at the highest CAGR during the forecast period.”
Based on product, the immunoassay market is segmented into reagents & kits and analyzers. Reagents & kits account for the largest share of the immunoassay market and is expected to grow at the highest CAGR. The large market share is attributed to their repetitive purchase and high consumption for the diagnostic purposes.
“ELISA segment to dominate the market during the forecast period.”
Based on technology, immunoassay market is segmented into ELISA, rapid tests, western blotting, radioimmunoassays, ELISPOT and other technologies. ELISA accounted for the largest share of the immunoassay market in 2020. The large share of this segment can be attributed the massive consumption of ELISA in the diagnosis of cancer, infectious diseases, and other chronic complications.
“Blood segment is expected to dominate the market during the forecast period and is also expected to grow at the highest CAGR during the forecast period.”
Based on the specimen, the immunoassay market is segmented into blood, saliva, urine and other specimens. Blood account for the largest share and are expected to grow at the highest CAGR of the immunoassay market. The large market share is attributed to the surging number of blood donations and the increasing incidence of chronic and infectious diseases worldwide.
“Infectious diseases segment to dominate the market during the forecast period“
Based on application, the immunoassay market is segmented into infectious diseases, endocrinology, cardiology, autoimmune disorders, allergy diagnostics, oncology, bone & mineral disorders, toxicology, blood screening, newborn screening and other applications. Infectious diseases account for the largest share of the immunoassay market, owing to the surging prevalence of infectious diseases and the rising use of immunoassays in diagnostics and management.
“Hospitals & clinics segment to dominate the market during the forecast period.”
Based on end user, the immunoassay market is segmented into hospitals & clinics, clinical laboratories, pharmaceutical & biotechnology companies and CROs, blood banks, research & academic laboratories and home care settings. Hospitals & clinics account for the largest share of the immunoassay market. The largest share is attributed to the high testing volumes. In addition, hospitals & clinics work as reference laboratories to small hospitals and physician offices.
“North America will dominate the market during the forecast period.”
Geographically, the immunoassay market is segmented into North America, Europe, the Asia Pacific, Latin America and the Middle East & Africa. In 2020, North America accounted for the largest share of the immunoassay market. The large share of the North American market is attributed to factors such as the to the increasing per capita healthcare expenditure and technologically advanced healthcare infrastructure which makes the regional immunoassay market well established.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type - Tier 1: 28%, Tier 2: 42%, and Tier 3: 30%
- By Designation - C-level: 30%, D-level: 34%, and Others: 36%
- By Region - North America: 46%, Europe: 25%, Asia Pacific: 18%, and Rest of the World: 11%
This report provides a detailed picture of the global immunoassay market. It aims at estimating the size and future growth potential of the market across different segments, such as product, technology, specimen, application, end user and region. The report also analyzes factors (such as drivers, restraints, opportunities and challenges) affecting market growth. It evaluates the opportunities in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total immunoassay market. The report forecasts the revenue of the market segments with respect to four major regions.
Reasons To Buy the Report:
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on immunoassay offered by the top 32 players in the immunoassay market. The report analyses the immunoassay market by product, technology, specimen, application, end user and region.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various immunoassay across key geographic regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the immunoassay market.
- Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the immunoassay market.