Fluorescent Immunoassay Market Size, $3.77Bn by 2028, 5.6% CAGR Led by ELISA Segment (56.12% Market Share in 2021): The Insight Partners

The fluorescent immunoassay market size was valued at $2.57 billion in 2021 and is projected to reach $3.77 billion by 2028; it is expected to grow at a CAGR of 5.6% from 2021 to 2028.

NEw York, May 27, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Fluorescent Immunoassay Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (ELISA, Rapid Lateral Flow Immunoassay, and Others), Application (Infectious Diseases, Oncology, Cardiovascular Diseases, and Others), and End User (Hospitals and Clinics, Diagnostic Centers, Pharmaceutical & Biotechnology Companies, Academic and Research Institutes, and Others)”, the global fluorescent immunoassay market growth is driven by the growing prevalence of chronic diseases and the increasing demand for cell therapies. However, the disadvantages of fluorescent immunoassays such as the limited analysis of proteins and certain large molecules present at relatively high concentrations and poor sensitivity hamper the market growth. The ELISA segment dominated the global immunoassay market and held the largest immunoassay market share of 56.12% in 2021. The infectious diseases segment dominated the global immunoassay market and held the largest immunoassay market share of 54.39% in 2021. The hospitals & clinics segment dominated the global immunoassay market and held the largest immunoassay market share of 43.16% in 2021.

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Report Coverage Details
Market Size Value in US$ 2.57 Billion in 2021
Market Size Value by US$ 3.77 Billion by 2028
Growth rate CAGR of 5.6% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 194
No. Tables 81
No. of Charts & Figures 80
Historical data available Yes
Segments covered Product Type, Application, and End User
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Global Fluorescent Immunoassay Market: Competition Landscape and Key Developments
Abbott, BD, bioMerieux SA, F. Hoffman-La Roche Ltd., Siemens AG, Sysmex Corp., Thermo Fisher Scientific Inc., Quidel Corp., Ortho Clinical Diagnostics Holdings plc, and Danaher are among the key companies operating in the global fluorescent immunoassay market. These companies commonly adopt product launches and expansion strategies to expand their footprint worldwide. They also broaden their respective product portfolios to meet the growing demand.

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The global fluorescent immunoassay market players offer innovative products to meet consistent and evolving customer demands worldwide, which also permits them to maintain their brand name globally. A few of the recent developments in the global fluorescent immunoassay market are as follows:

In March 2022, Quidel Corporation acquired Ortho Clinical Diagnostics. The transaction is expected to close during the first half of the fiscal year 2022. The combined organization will unite the companies’ technologies and platforms to benefit customers with expanded access to clinical chemistry, immunoassay, molecular diagnostics, immunohematology, donor screening, and point-of-care diagnostics offerings.

In June 2021, Roche announced that it had launched a high-throughput SARS-CoV-2 antigen test as an aid in the diagnosis of SARS-CoV-2 infections. The laboratory-based Elecsys SARS-CoV-2 Antigen test had earlier received a CE mark and has recently obtained the import license from CDSCO.

Fluorescence immunoassay is a sensitive technique that is used in the measurement of many compounds, including drugs, hormones, and proteins; in the identification of antibodies; and in the quantification of antigens such as viral particles and, potentially, bacteria. The fluorescence detection system includes higher sensitivity detection of the analyte, simplified reagents, and simpler assay designs. A modern fluorescent-based immunoassay uses a detection reagent or a fluorescent compound that absorbs light or energy (excitation energy) at a specific wavelength and then emits light or energy at a different wavelength.

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Based on product type, the global fluorescent immunoassay market is segmented into ELISA, rapid lateral flow immunoassay, and others. The ELISA segment accounted for the largest market share in 2021 and is expected to grow at the highest CAGR during the forecast period. The large market share is attributed to the high use of immunoassay tests to diagnose cancer, infectious diseases, and other chronic complications.

Chronic diseases and conditions are on the rise worldwide. The need for costly chronic care is increasing, placing significant demands on healthcare systems. The rise in the aging population and changes in societal behavior contribute to a steady rise in these common and costly long-term health problems. The middle class is growing, and with the rise in urbanization, people are adopting a more sedentary lifestyle. This drives obesity rates and cases of diseases such as diabetes. According to the Centers for Disease Control and Prevention (CDC), an estimated 150 million Americans had one or more chronic conditions as of 2016. According to the World Health Organization (WHO), the prevalence of chronic diseases was projected to increase by 57% in 2020.

According to the National Center for Biotechnology Information (NCBI), chronic kidney disease (CKD) is the 14th leading cause of death worldwide and is responsible for 1.2 million deaths each year. The increasing incidence of CKD is primarily associated with lifestyle disorders such as hypertension, cardiovascular disease, hormonal imbalances, and diabetes. Early detection and treatment are crucial, as progressive CKD is associated with unfortunate clinical consequences, including end-stage kidney disease (ESKD), cardiovascular diseases, and increased mortality.

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The diagnosis, prognosis, and control of chronic kidney disease are based on understanding the glomerular filtration rate (GFR). Cystatin-C is a better GFR marker than the commonly used creatinine. The fluorescence lateral flow immunoassay was developed and optimized to estimate the cystatin C value to calculate the glomerular filtration rate.

The COVID-19 pandemic highlighted the need for rapid and accurate nucleic acid detection at the point of care. Fluorescence-based quantitative reverse transcription PCR (RT-qPCR) has high sensitivity and specificity. In addition, a maximum of people infected with SARS-CoV-2 develop mild or no symptoms. There is, therefore, an urgent need to develop rapid, simple, and high-throughput assays for the detection of nucleic acids.

A standard fluorescence immunoassay system is a multiparametric, random access system that provides accurate and reliable diagnostic results. It is a system capable of performing qualitative and quantitative analyses of infections, respiratory diseases, and chronic diseases. A convenient user interface and laboratory information system (LIS)/ hospital information system (HIS) connectivity save valuable time, and ambiguous test results are a thing of the past as the analyzer automatically reads and interprets the results. A cut-off index provides a good reference point for medical decision-making. Therefore, there is a growing need for fluorescent immunoassays, owing to the rising number of chronic diseases worldwide.

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Browse Adjoining Reports:
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Lateral Flow Immunoassays Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technique Type (Competitive Assay, Sandwich Assay, Multiplex Detection Assay); Application Type (Infectious Disease, Pregnancy and Fertility, Toxicology, Others); End User (Hospitals and Clinics, Diagnostic Laboratories, Home Care, Others), Impact of covid-19 pandemic.

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Native Bacterial and Viral Antigens Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Chlamydia Antigens, Adenovirus Antigens, Borrelia Antigens, Chikungunya Virus Antigens, Clostridium Antigens, and Dengue Virus Antigens), Pathogen Type (Inactivated Pathogen and Purified Pathogen); Application (ELISA, Immunoassay, SDS-PAGE, Hemagglutination, and Agglutination Test), End User (Diagnostic Laboratories and Centers, and Academic and Research Institutes), and Geography

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