The global immunoassay market was valued at USD 21.03 billion in 2020 and is projected to grow at a CAGR of 5.8% during the forecast period. Factors driving the growth of the immunoassay market include increasing occurrence of chronic and infectious diseases, progression in the biotechnology and biopharmaceutical businesses and increasing implementation of point-of-care (POC) testing products.
The immunoassay is an engrained technique with several applications in clinical analysis, food industry, or environmental monitoring. The performance of an immunoassay is determined by factors for instance specificity, sensitivity, and reproducibility. When seeing rapid and simple assays principally, the aspects that impact the reaction rate must be examined.
Regionally, North America accounted for the largest market share of the global immunoassay market attributable to developed healthcare infrastructure. Leading players of the global immunoassay market include Siemens Healthineers, BioMérieux, Becton, Dickinson & Company, Abbott laboratories, Danaher Corporation, Roche Diagnostics, Ortho Clinical Diagnostics, Thermo Fisher Scientific, Inc., Sysmex Corporation, Quidel Corporation among others.
Immunoassay Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 32.79 billion|
|Growth Rate||CAGR of 5.8% during 2021-2028|
|Segment Covered||Technology, Product, Application, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||Siemens Healthineers, BioMérieux, Becton, Dickinson & Company, Abbott laboratories, Danaher Corporation, Roche Diagnostics, Ortho Clinical Diagnostics, Thermo Fisher Scientific, Inc., Sysmex Corporation, Quidel Corporation among others.|
Key segments of the global immunoassay market
Technology Overview, 2018-2028 (USD Billion)
- Enzyme immunoassay
- Rapid test
Product Overview, 2018-2028 (USD Billion)
- Reagents & kits
- Software & services
Application Overview, 2018-2028 (USD Billion)
- Therapeutic drug monitoring
- Infectious disease testing
- Autoimmune diseases
End User Overview, 2018-2028 (USD Billion)
- Blood banks
- Clinical laboratories
- Pharmaceutical and biotech companies
- Academic research centers
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Asia Pacific
- South America
- Middle East & Africa
- South Africa
Reasons for the study
- Increase in incidence of chronic and infectious diseases
- Technological innovations in immunoassays instruments
- Increasing adoption of POC testing products in home care as well as in hospitals
What does the report include?
- The study on the global immunoassay market includes qualitative factors such as drivers, restraints and opportunities
- The study covers qualitative and quantitative analysis of the market segmented on the basis of product, technology, application and end-use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global immunoassay market is suitable for all the players across the value chain including product manufacturing companies, suppliers/distributors, R&D labs, CROs, healthcare organizations, medical reimbursement and insurance providers
- Venture capitalists and investors looking for more information on the future outlook of the global immunoassay market
Consultants, analysts, researchers, and academicians looking for insights shaping the global immunoassay market
Immunoassays have come to be increasingly prevalent tools for determining biologic analytes, since they offer sensitive, precise results and are comparatively easy to use. Moreover, some immunoassay procedures are rapid, yield better precision, and are fairly easy to mechanize, thus requiring a reduced amount of hands-on involvement. Measurement of a biologic analyte classically involves two main steps: reaction and detection. These steps could be chemical, physical, biologic, or immunologic. The word immunoassay denotes to any assay that, at its fundamental, be contingent on the binding of antigen and antibody. Two straightforward types of immunoassays exist. The competitive immunoassay (type II) depends on the race amongst the antigen of interest (the analyte) and a persistent amount of alike but labeled antigen for an inadequate amount of particular antibody. The noncompetitive or immunometric immunoassay (type I) practices a surplus of labeled explicit antibody in the direction of the analyte of interest.
On the basis of technology enzyme immunoassay held a substantial market share in 2020. It is widely used as diagnostic tools in medicine and as quality control measures in various industries; they are also used as analytical tools in biomedical research for the detection and quantification of specific antigens or antibodies in a given sample. It is described as a precise, sensitive, versatile and quantifiable diagnostic method. Although there are various rapid screening test kits for antigen/antibody detection, they have lower sensitivity and specificity compared to sandwich enzyme immunoassay. As an example, a conventional dengue enzyme immunoassay test from Standard Diagnostics Inc. has a sensitivity of 98.8% and a specificity of 99.2%, whereas the rapid test kit from the same company has a sensitivity of 94.2% and a specificity of 96.4% according to data from the Standard Diagnostics product specifications. However, conventional enzyme immunoassay tests are time-consuming, need specialized laboratory equipment and significant expertise to carry out. Hence, currently, they are unfeasible to apply in rapid testing and point-of-care diagnosis. For this reasons, researchers are trying to miniature the entire enzyme immunoassay procedure on Lab-on-a-Chip (LOC) or Lab-on-Compact Disc (LOCD) platforms.
Asia Pacific is expected to exhibit the fastest revenue growth in the immunoassay market. This is attributed to the increase in prevalence of oncology, cardiology and infectious disease and wide acceptance of point-of-care (POC) testing products from countries such as China and India. Presence of large population, increase in number of immunoassay procedures, rapidly increase in stomach and esophageal cancers, increase in number of hospitals in the developing countries will fuel the need for immunoassay market thereby accelerating the growth of the market over the coming years. Moreover, increase in effort by original equipment manufacturers to tap these emerging countries will drive the growth of the market in Asia Pacific.