The Immunoassay market, valued at USD 31.4 Billion in 2023, is projected to surpass USD 48.8 Billion by 2032, indicating a robust CAGR of 5.1%

The immunoassay market includes diagnostic procedures that use antigen-antibody interactions to identify certain biomolecules, which aids in the diagnosis and monitoring of various diseases. The immunoassay market is a fast expanding segment of the worldwide diagnostics landscape, driven by the rising frequency of chronic diseases and the growing desire for early disease diagnosis. Immunoassays are laboratory procedures that use antigen-antibody reactions to detect specific biomolecules, allowing for precise diagnosis and monitoring of a variety of medical diseases. Key uses include clinical diagnostics, drug testing, and food safety testing.

The high cost of immunoassay systems and consumables is a considerable barrier to access in low-income countries, impeding the expansion of the immunoassay market. This price barrier limits the broad use of these critical diagnostic instruments in underprivileged communities. However, the growing use of immunoassays in personalized medicine including oncology creates new prospects for market growth over the projection period. As healthcare evolves, the demand for focused therapies and precise diagnostics grows.

Immunoassay Market Statistics

• The global immunoassay market generated USD 31.4 billion in 2023 and is projected to experience a robust CAGR of over 5.1% from 2024 to 2032
• North America leads the market with a substantial revenue of USD 12.9 billion in 2023
• The Asia-Pacific region is expected to achieve impressive growth, with a projected CAGR of 6%
• Enzyme immunoassay (EIA) technology dominates the market, accounting for 63% of the market share in 2023
• In terms of products, the reagents and kits sub-segment secured 66% of the market share in 2023
• The blood specimen sub-segment represented 43% of the market share in 2023
• Regarding applications, the infectious disease testing sub-segment accounted for 36% of the market share in 2023
• A discernible trend in the immunoassay market is expansion of immunoassays in oncology is gaining momentum for early cancer detection and monitoring

Access Table Of Content: https://www.acumenresearchandconsulting.com/table-of-content/immunoassay-market

Immunoassay Market Dynamics

Rising Prevalence of Chronic and Infectious Diseases Fuels the Immunoassay Market Value

The increasing frequency of chronic and infectious diseases is driving up the value of the immunoassay market, as these conditions necessitate precise and fast diagnosis for successful treatment. Chronic diseases such as diabetes, cardiovascular ailments, and cancer necessitate continuous monitoring, which increases demand for immunoassay tests. For instance, according to the US Department of Health and Human Services, an estimated 129 million people in the United States have at least one major chronic condition. Examples include heart disease, cancer, diabetes, obesity, and hypertension. Furthermore, the recurrence of infectious diseases such as COVID-19 and others has increased the demand for quick and dependable diagnostic methods. The increased awareness among healthcare providers and patients about the value of early diagnosis is fueling market expansion. 

Increasing Adoption of Automation and AI-Driven Immunoassay Systems Enhances Efficiency Offer Significant Immunoassay Market Opportunity

The growing use of automation and AI-powered immunoassay equipment has tremendous prospects for improving efficiency in the immunoassay business. For instance, in February 2022, bioMérieux introduced VIDAS KUBE, a next-generation technology for automated immunoassay testing. It was scheduled to launch in chosen nations and the rest of the world in early 2023, with a gradual expansion commencing in Q2. Automated platforms improve workflows by reducing manual labor and human error, resulting in faster and more reliable test results. The integration of these modern technologies enables laboratories to process more samples while preserving uniformity and reliability. As healthcare institutions strive for greater operational efficiency will boosts market’s demand in forecast year.

Immunoassay Market Segmentation

The global market for immunoassay has been segmented into technology, product, specimen, application, end-users, and region.

• Technology is classified into enzyme immunoassay (EIA) (fluorescence immunoassays (FIA), chemiluminescence immunoassays (CLIA)) radioimmunoassay (RIA), rapid test, and others
• Product are divided into analyzers/instruments (closed ended systems, open ended systems) reagents & kits (ELISA reagents & kits, rapid test reagents & kits, ELISPOT reagents & kits, western blot reagents & kits, other reagents & kits), and software & services
• Specimen are categorized into blood, saliva, urine, other specimens
• Application are sub segmented into endocrinology, therapeutic drug monitoring, autoimmune diseases, infectious disease testing, cardiology, oncology, and others
• End-use are categorized into hospitals, pharmaceutical and biotech companies, clinical laboratories, academic research centers, blood banks, and others
• The immunoassay market is geographically split into Europe, North America, Latin America, APAC, and the Middle East and Africa

Immunoassay Market Regional Outlook

In terms of Immunoassay market analysis, North America dominates the immunoassay market due to its well-established healthcare infrastructure, widespread use of modern diagnostic technologies, and the presence of significant industry players. The region has a high frequency of chronic diseases, which increases need for diagnostic tools such as immunoassays. Furthermore, the increasing emphasis on customized treatment and preventive healthcare increases the market position in the United States and Canada.

In contrast, Asia-Pacific is experiencing strong growth in the immunoassay market, owing to rapid healthcare infrastructure development, increased healthcare expenditure, and increased awareness of early disease detection. 

Immunoassay Market Players

Immunoassay companies profiled in the report include F. Hoffmann-La Roche AG, bioMérieux SA, Becton, Dickinson and Company, Thermo Fisher Scientific, Inc, Abbott Laboratories, Danaher Corporation (Beckman Coulter), Bio-Rad Laboratories, Inc, Quidel Corporation; Sysmex Corporation, and Siemens Healthineers.

Enquire Before Buying https://www.acumenresearchandconsulting.com/inquiry-before-buying/1277

Receive our personalized services and customization by clicking here https://www.acumenresearchandconsulting.com/request-customization/1277

Mr. Richard Johnson

Acumen Research and Consulting

India: +91 8983225533

E-mail: sales@acumenresearchandconsulting.com