Immunotherapy Drugs Market Report 2023: Industry Analysis, Growth Prospects, and Business Expansion Opportunities Forecast 2028
The report "Immunoassay Market by Product (Reagents & Kits, Analyzers), Technology (ELISA, CLIA, Rapid Tests), Specimen (Blood, Saliva, Urine), Application (Infectious Diseases, Endocrinology), End User (Hospitals & Clinics, Blood Banks) - Global Forecast to 2028", is projected to reach USD 46.7 billion by 2028 from USD 35.0 billion in 2023, at a CAGR of 5.9% during the forecast period. The immunoassay market is driven by the increasing incidence of infectious and chronic diseases, increasing adoption of immunoassay-based POC testing and rapid testing, and introduction of innovative products by leading players operating in the immunoassay market. Growth in emerging countries and development of condition specific biomarkers and tests are anticipated to offer lucrative growth opportunities for the immunoassay market.
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Browse in-depth TOC on "Immunoassay Market”
307 – Tables
54 – Figures
394 – Pages
Key Market Players
The major players operating in this market are Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), and Siemens Healthineers (Germany).
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DRIVER: Growth in the biotechnology and biopharmaceutical industries
The demand for immunoassay instruments and consumables is considerably high in the bio-pharma industries. Hence, growth in these industries is anticipated to drive the demand for immunoassay products during the forecast period. In these industries, the increase in the demand from end users has provided an opportunity to various companies to launch new products in the market, hence enabling product innovation. Besides, immunoassays are applied at many stages in biopharma and biotechnology industries’s from product development and manufacturing to quality control in production.
The biotechnology and pharmaceutical sectors have experienced various developments and changes in the past few years. Immunoassays have an extensive role in drug discovery and monitoring; ELISA and radioimmunoassay are utilized for the immunogenicity assessment of certain biologics such as adalimumab and infliximab.
The reagents & kits accounted for the largest share of the immunoassay market, by product segment, in 2022.
The global immunoassay market is segmented into analyzers and reagents & kits based on product. High consumption of consumables such as kits and reagents and their repeated purchases along with the increasing number of immunoassay tests performed across the globe, are the factors supporting the growth of the reagents & kits product segment.
The hospitals & clinics segment accounted for the largest share of the immunoassay market, by end user, in 2022.
The increasing prevalence of chronic and infectious diseases and the availability of advanced technologies for their detection have led to significant growth of the hospitals & clinics end user segment. The segment is also anticipated to register the highest growth rate during the forecast period, owing to better testing facilities.
North America is the largest regional market for immunoassay market.
The global immunoassay market has been segmented into five major regions—North America, Europe, the Asia Pacific, the Middle East & Africa, and Latin America. In 2022, North America dominated the global immunoassay market in 2022. The large share of the North American market is primarily driven by the increasing geriatric population and the subsequent prevalence of chronic diseases, and the easy accessibility of technologically advanced instruments.
Recent Developments of Immunoassay Industry:
- In August 2023, Abbott received FDA approval for its Alinity h-series hematology system, enabling laboratories nationwide to run complete blood counts (CBC).
- In July 2023, Siemens received FDA clearance and launched its Atellica CI Analyzer for immunoassay and clinical chemistry in the world’s major markets.
- In June 2023, DiaSorin launched its CE marked LIAISON B.R.A.H.M.S MR-proADM assay to be used for the diagnosis of conditions, such as kidney diseases, sepsis, septic shock, lower respiratory and urinary tract infections.
- In December 2022, QuidelOrtho received approval from Health Canada for use of the Quidel TriageTrue High-Sensitivity Troponin I(hsTnl) Test to aid in the diagnosis of myocardial infarction.
- In October 2022, Roche received U.S. FDA granted Emergency Use Authorization (EUA) for its cobas MPXV for use on the cobas 6800/8800 immunoassay Systems.
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