Immunoassay Market to Surpass USD 157.63 billion by 2028, with a CAGR of 6.6%

By product, the immunoassay market is categorized into reagents & kits and analysers. Reagents & kits hold the highest share of the immunoassay market and is projected to grow at the highest CAGR. Growing purchase and high consumption for the diagnostic purposes is anticipated to enhance the growth of reagents & kits segment over the coming years.

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Luton, Bedfordshire, United Kingdom, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Immunoassay Market.

Growing at a CAGR of 6.6%, the global Immunoassay Market is valued at USD 23 billion in 2023 and is projected to reach USD 157.63 billion by the end of 2028

Market Overview:

An immunoassay (IA) is a biochemical test that uses antibodies (usually) or antigens (sometimes) to measure the presence or concentration of large or small molecules in solution. Molecules detected by immunoassays are often referred to as "analyses" and are often proteins but other types of molecules of varying sizes and types as long as suitable antibodies with the required properties for the assay are present It doesn't matter if it is. developed. Specimens in body fluids such as serum and urine are often measured in immunoassays for medical and research purposes.

Immunoassays come in many formats and variations. Immunoassays can be performed in multiple steps, and reagents can be added and washed away or separated at various points in the assay. Multi-step assays are often referred to as separate immunoassays or heterogeneous immunoassays. Some immunoassays can be performed by simply mixing reagents and samples and making physical measurements. Such assays are called homogeneous immunoassays, but less commonly non-isolated immunoassays.

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Key Insights

As per the analysis, the Immunoassay Market is likely to grow above a CAGR of around 6.6% between 2023 and 2028.

The Immunoassay Market size was worth around US$ 23 billion in 2023 and is estimated to hit approximately US$ 157.63 billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.

The North America region holds a dominant position and is expected to continue its dominance during the forecast period due to population growth, rising infectious diseases, and technological advancements.

 In the North America region, the US country holds the largest market share. Chronic diseases, high prevalence of infectious diseases, rising geriatric population, and increasing government spending on the healthcare sector are expected to drive the growth of the global immunoassay market during the forecast period. In these countries, medical devices are becoming more prevalent, manufacturers are funding more research and development activities, and the number of hospitals is growing.

Prominent Growth Drivers Impacting the Immunoassay Industry

Chronic diseases and public awareness are expected to boost market growth

 Chronic diseases such as diabetes, cardiovascular disease, and cancer are on the rise worldwide. SARS-CoV2 (COVID-19), dengue fever, hepatitis B and C, HIV, malaria, tuberculosis and many other infectious diseases continue to rise.

 Immunoassay diagnosis has become an important part of the diagnostic process for many of these diseases. Advances in immunoassay technology offer faster results, higher sensitivity, and lower limits of detection while reducing costs. The growth of the global immunoassay market is fueled by the prevalence of rapid point-of-care tests for diagnosing diseases and alcohol and drug addiction.

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Market Positioning of Key Vendors

Major companies active in the global Immunoassay industry include Danaher, Thermo Fisher Scientific, Abbott Laboratories, Siemens Healthineer, Roche, Quidel, DiaSorin, bioMérieux, Bio Rad Laboratories, Ortho Clinical Diagnostics. The market players have been on the way to adopting various kinds of organic and inorganic growth strategies, like new product developments and launches, acquisitions, and merger contracts.

Browse the fullImmunoassay Market by Product (Reagents & Kits, Analyzers), Technology (ELISA, IFA, Rapid Tests, Radio Immunoassay), Specimen (Blood, Saliva, Urine), Application (Infectious Diseases, Oncology), End User (Hospitals & Clinics) and Region, Global trends and forecast from 2023 to 2028Report at  

Key Market Segments: Immunoassay Market

Global Immunoassay Market by Products, 2022-2028, (In USD Million)

  • Reagents & Kits
    • Elisa Reagents & Kits
    • Rapid Test Reagents & Kits
    • Elispot Reagents & Kits
    • Western Blot Reagents & Kits
    • Other Reagents & Kits
  • Analyzers
    • By Type
    • By Purchase Mode

Global Immunoassay Market by Application, 2022-2028, (In USD Million)

  • Infectious Diseases
  • Oncology

Global Immunoassay Market by Technology, 2022-2028, (In USD Million)

  • IFA
  • Rapid Tests
  • Radio Immunoassay

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Regional Insights:

Asia Pacific promises lucrative opportunities, with a 36% market share. As the healthcare and life sciences industries are booming, major manufacturers are merging and acquiring.

Recent Industry Developments:

In 2021, Thermo Fisher Scientific Inc. has acquired the private point-of-care molecular diagnostic company Mesa Biotech.

In 2020, Beckman Coulter is the part of Danaher Company. This company has introduced the first high-quality and throughput assay called Access SARS-CoV-2 Antigen assay. It is developed for the COVID-19 antigen diagnosis.
Report Scope:

Report AttributeDetails
Market Size in 2023USD 23 billion
Projected Market Size in 2028USD  157.63 billion
CAGR Growth Rate6.6% CAGR
Base Year2022
Forecast Years2023-2028
Key Market PlayersDanaher, Thermo Fisher Scientific, Abbott Laboratories, Siemens Healthineer, Roche, Quidel, DiaSorin, bioMérieux, Bio Rad Laboratories, Ortho Clinical Diagnostics, and others.
Key SegmentBy Product, by Technology, by Application.
Major Regions CoveredNorth America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase OptionsRequest customized purchase options to meet your research needs.

What does the report include?

  • Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Cold Storage market analysis.
  • The competitive environment of current and potential participants in the Cold Storage market is covered in the report, as well as those companies' strategic product development ambitions.
  • According to the component, application, and industry vertical, this study analyses the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
  • For each segment mentioned above, actual market sizes and forecasts have been given.

To know an additional revised 2023 list of market players, With detailed TOC:  

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