Westford, USA, March 29, 2023 (GLOBE NEWSWIRE) -- Significant expansion within the Immunoassay market, specifically in North America and Asia Pacific, is driven by a confluence of factors. These include the mounting prevalence of chronic and infectious ailments, burgeoning technological advancements, demand for point-of-care services, and a growing inclination toward adopting immunoassays in drug development. Furthermore, the National Institutes of Health (NIH) have pledged an impressive $129.3 million to promote innovative diagnostic technologies, specifically immunoassays, to bolster healthcare outcomes. The marked focus on research and development has spurred the creation of novel immunoassay products and technologies, which, in turn, has augmented the market's growth.
According to SkyQuest's latest global research findings, Antimicrobial resistance is becoming an escalating concern worldwide, as demonstrated by a recent UK study that revealed a 20% overprescription of antibiotics. It has been demonstrated that CRP POCT can effectively decrease the rate of antibiotic prescriptions. Furthermore, various Point-of-care treatments exhibit a strong potential for widespread adoption in the coming years. For instance, HbA1c POCT enables physicians to determine the long-term blood sugar levels of diabetic patients, facilitating discussions during the patient's visit. Additionally, POCT for flu and RSV can assist in distinguishing between respiratory conditions and guiding treatment. Moreover, SkyQuest predicts that the market will attain a valuation of $43.59 billion by 2027, exhibiting a CAGR of 6.2% from 2021 to 2027.
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The use of antibodies to detect the presence and quantity of target molecules in a sample is a critical laboratory technique known as immunoassay. It has become an integral tool in diagnosing and monitoring various diseases, such as infectious diseases, cancer, and autoimmune disorders. Recent advances in immunoassay technology have given rise to several important innovations, including Multiplex Immunoassays, Point-of-Care Immunoassays, Digital Immunoassays, and Next-Generation Sequencing (NGS) Immunoassays. NGS technology, in particular, holds enormous promise in revolutionizing the diagnosis and monitoring of complex diseases such as cancer. By leveraging a combination of immunoassay and DNA sequencing technologies, NGS-based immunoassays enable the simultaneous detection and quantification of multiple mutations and biomarkers in a single sample.
Prominent Players in Immunoassay Market
- Abbott Laboratories
- Bio-Rad Laboratories
- Beckman Coulter
- Danaher Corporation
- DiaSorin S.p.A.
- F. Hoffmann-La Roche AG
- Grifols S.A.
- Ortho Clinical Diagnostics
- Qiagen N.V.
- Randox Laboratories
- Siemens Healthineers AG
- Thermo Fisher Scientific Inc.
- Tosoh Corporation
- Trinity Biotech
- Wako Pure Chemical Industries, Ltd.
- BioMérieux SA
- Meridian Bioscience Inc.
- EMD Millipore
- Abcam plc
- Sekisui Diagnostics LLC
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Enzyme-Linked Immunosorbent Assay Segment to Drive Higher Sales as There is Rise in Various Infectious and Autoimmune Disorders.
A recent analysis has revealed that the Enzyme-Linked Immunosorbent Assay (ELISA) segment played a pivotal role in the rapid growth of the Immunoassay market in 2021. This trend is expected to persist from 2022 to 2030. ELISA has gained significant traction in clinical laboratories as a diagnostic tool for various ailments, such as infectious diseases, autoimmune disorders, and cancer. These illnesses' escalating prevalence and demand for precise and sensitive diagnostic tests have also contributed to the surge in the ELISA market. Notably, the Defence Institute of Physiology and Allied Sciences (DIPAS), a Defence Research and Development Organization (DRDO) laboratory in India, has recently developed the 'DIPCOVAN' antibody detection-based kit. The DIPCOVAN is a microwell ELISA for sero-surveillance that can detect both the spike and nucleocapsid proteins of the SARS-CoV-2 virus with high sensitivity (97%) and specificity (99%).
SkyQuest's recent analysis reveals that North America is expected to emerge as a dominant player in the Immunoassay market from 2022 to 2030, with a projected CAGR of 5.32% during the forecast period. The high prevalence of chronic and infectious diseases, coupled with the increasing demand for early disease detection and advanced healthcare infrastructure, are the key drivers of the immunoassay market in North America. The presence of major players in the market, including Abbott Laboratories, Thermo Fisher Scientific, and Bio-Rad Laboratories, is also contributing to the market growth in the region. Furthermore, the adoption of advanced technologies, such as digital immunoassays and next-generation sequencing (NGS) immunoassays, is also a significant contributor to the growth of the immunoassay market in North America. The COVID-19 pandemic has significantly increased the demand for immunoassay-based diagnostic tests to detect SARS-CoV-2 antibodies, further contributing to the growth of the immunoassay market in the region.
Clinical Diagnostics Segment to Exhibit Strong Growth due to the Growing Demand for Accurate and Sensitive Diagnostic Tests
The Clinical Diagnostics Component segment has emerged as the principal method in the Immunoassay market in 2021. It is anticipated to maintain its supremacy from 2022 to 2030. The rise in infectious diseases, such as COVID-19, and the surging demand for precise and sensitive diagnostic tests are the key drivers of the clinical diagnostics market. Moreover, the increasing number of product launches for lipid panel tests is also expected to contribute to the growth of the studied segment over the forecast period. As an illustration, Boston Heart Diagnostics announced the availability of LipoMap in October 2022. LipoMap is a panel of 33 lipids, lipoprotein, and apolipoprotein tests carried out via high-resolution 600 MHz nuclear magnetic resonance. It is one of the most comprehensive assessments of lipid metabolism commercially available.
According to recent research analysis, the Asia Pacific region is poised to maintain its significant position in the Immunoassay market by 2030. SkyQuest has predicted remarkable growth in China and India, the two largest markets for immunoassays in the Asia Pacific region. In the coming years, the projected CAGR for these countries is 7.7% and 8.5%, respectively. The increasing demand for personalized medicine and targeted therapies has also contributed to the growth of the immunoassay market in the region. This is because immunoassays are utilized to discover biomarkers and monitor drug efficacy.
A recent report has comprehensively analyzed the key players in the Immunoassay market, covering various aspects such as mergers, collaborations, innovative business policies, and strategies. The report provides valuable insights into the major trends and breakthroughs in the market. In addition, the report presents a detailed geographic analysis of the top segments' market share. Finally, the report highlights the major players in the industry and their efforts to develop innovative solutions to meet the growing demand.
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Key Developments in Immunoassay Market
- Bio-Techne Corporation (NASDAQ: TECH) has unveiled its latest product innovation and manufacturing facility spanning over 52,000 square feet. This state-of-the-art facility is located at Bio-Techne's Wallingford, Connecticut site and represents a significant expansion that more than doubles the company's operational footprint. Furthermore, it provides a five-fold increase in Ella™ immunoassay cartridge production capacity. Ella is an automated multiplexing immunoassay system that facilitates rapid and hands-free precision biomarker detection.
- BioMérieux, a leading company in the field of in vitro diagnostics, has revealed that VIDAS® KUBE™, the latest automated immunoassay system from the VIDAS range, has received the CE-marking. This innovation is set to benefit clinical laboratories and the food industry by providing faster results to aid patient care and ensure consumer protection. François Lacoste, the Executive Vice-President of Research and Development, stated that VIDAS has long been the preferred choice for automated immunoassay testing in many laboratories across the globe.
Key Questions Answered in Immunoassay Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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