Pune, India, April 30, 2019 (GLOBE NEWSWIRE) -- Global Immunoassay Market Size can touch a value of USD 771.7 million by 2023, predicts Market Research Future (MRFR). It can exhibit a CAGR of 8.18% from 2018 to 2023 (forecast period).
Market Outlook
Immunoassays are biochemical tests used in detecting the presence of macromolecules through the use of an antigen or antibody. The most well-known of these assays is the enzyme-linked immunosorbent assay (ELISA) used in detecting ligands in liquid samples. The global immunoassays market is driven by rising incidence of chronic diseases.
The increasing numbers of the elderly populace is the primary driver of the immunoassay market. Susceptibility of the demographic to chronic disorders is expected to induce the demand in the market.
Automation is a major driver facilitating the immunoassay market growth. Emergence of lab-on-a-chip has further increased the adoption of automated systems in research laboratories. Automation of tests can reduce labor costs, saves times, and increases efficiency. Automated systems contain an array of robotics, machine vision, software and hardware, and conveyor systems. To this regard, research labs are adopting automation for expediting the steps in microplate assays.
The booming biotechnology sector is expected to accelerate the immunoassay market growth. The use of these tests for discerning the presence of biomarkers. Development of multiplex assays can be used in detecting multiple analytes in a single reaction. Furthermore, formats of immunoassays such as microfluidic, chip, and bead which can monitor the reactions in real-time.
Request Free Sample @ https://www.marketresearchfuture.com/sample_request/5841
Competition Analysis
Well-known names in the immunoassay market include Radiometer, Dynex Technologies, Diamedix, Alere, Inova Diagnostics, Gold Standard Diagnostics, DiaSorin, Hycor Biomedical, Arlington Scientific, and Fujirebio US.
Industry News
Launch of specific assays designed to pinpoint the presence of diseases has come to the fore of the pharmaceutical sector. The efficacy of these tests can be attributed to their compatibility with assay protocols and low consumption of reagents. In November 2018, the Native Antigen Company launched the Zika Virus NS1 Elisa assay for detecting the presence of the Zika virus NS1 in biological samples. It also launched another assay, Zika Virus IgG/IgM/IgA ELISA assay, which was designed to discern antibodies in these samples.
To ensure the accuracy and specificity of test samples, researchers from Boston University School of Medicine and Boston Medical Center have collaborated to create a novel platform for comparing data conducted by ELISA, named ELISAtools. The variability between the data was found to be reduced by nearly 60% and providing clarity on tests.
Segmentation Analysis
The global immunoassay market is segmented by product & service, type, application, and end-user.
By product & service, the kits and reagents segment was valued at USD 218.8 million in 2017. This can be attributed to the variety of assay kits offered by companies for discerning more than one disease. This is exemplified by the launch of Bio-Plex immunoassay kits which can assess close to 500 proteins, peptides, and nucleic acid targets.
By type, the ELISA segment held the largest market share due to its use in tests for discerning cancer and other infectious diseases. The chemiluminescence segment is touted to generate maximum revenue for the market due to rising cases of autoimmune diseases. Technological advances have led to the detection of antibodies, a prime factor which can augur well for the segment in the forthcoming years.
Major applications in the market are autoimmune disorders, infectious diseases, cancer research, endocrinology, and others. End-users targeted in the immunoassay market include academic institutions, pharmaceutical and biotechnology companies, and others.
Browse the market data and information spread across 188 pages with 43 data tables and 34 figures of the report “Immunoassay Market - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/immunoassay-market-5841
Americas to Dominate the Global Immunoassay Market
Region-wise, the market is segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA).
The Americas accounted for 38.85% share in 2017 with a valuation of USD 184.7 million. It can register 8.38% CAGR over the forecast period. The well-developed healthcare infrastructure combined with adoption of latest systems to expedite the testing process is expected to be highly lucrative for the immunoassay market. Rising cases of chronic diseases and diabetes are other factors driving market growth.
Europe has assumed the second position in the immunoassay market with a value of USD 153.8 million in 2017. The region is projected to register 7.42% CAGR over the assessment period. Adoption of various diagnostic kits is expected to bolster the market demand regionally.
The APAC Immunoassay Market can register 9.42% CAGR during the forecast period due to improved healthcare infrastructure in developing economies. Emergence of various research and development centers combined with agreements by companies operating in the region can lend to the valuation of the market. Rise in disposable income levels in South Korea, China, and India.
Make an Enquiry Before Buying this Report @ https://www.marketresearchfuture.com/enquiry/5841
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.