The worldwide immunoassay analyzers market is encountering critical growth, basically because of the rising demand for analytic testing across different clinical disciplines. Immunoassay analyzers assume an urgent part in distinguishing and measuring biomolecules, working with the conclusion and management of diseases like infectious diseases, cancer, autoimmune disorders, and hormonal imbalance types.
The worldwide expansion in the predominance of constant and infectious diseases contributes fundamentally to the growth of the immunoassay analyzers market. The requirement for right on time and precise conclusion to direct proper treatment techniques fills the demand for immunoassay-based analytic arrangements.
Immunoassay analyzers are playing an expanding job in cancer finding, adding to early discovery, and checking of different cancer types. The capacity of immunoassays to recognize specific biomarkers related with cancer works with convenient intercession and customized therapy draws near.
The globalization of healthcare and the passage of immunoassay analyzer makers into developing markets add to market growth. Expanded accessibility to cutting edge demonstrative advances in agricultural nations cultivates the reception of immunoassay analyzers, supporting complete healthcare framework improvement.
The worldwide spotlight on overseeing infectious diseases, especially featured by late pandemics, adds to the expanded utilization of immunoassay analyzers. These analyzers assume a basic part in the finding of infectious diseases, including viral and bacterial contaminations, supporting general health drives and fast reaction systems.
The emphasis on customized medication, tailoring treatment ways to deal with individual patient profiles, impacts the immunoassay analyzers market. Immunoassays empower the recognition of specific biomarkers that guide customized treatment choices, lining up with the developing landscape of precision medication.
Report Attribute/Metric | Details |
---|---|
Market Size Value In 2023 | USD 1.1594billion |
Growth Rate | 5.40%(2023-2032) |
The Immunoassay Analyzers Market Size was valued at USD 1.1 billion in 2022. The Immunoassay Analyzers market is projected to grow from USD1.1594 Billion in 2023 to USD 1.765867 billion by 2032, exhibitinga compound annual growth rate (CAGR) of 5.40% during the forecast period (2023 - 2032). Increased prevalence of infectious immunological or metabolic diseases, rising demand for advanced diagnostic devices, and recent trends of automation and integration are the key market drivers enhancing market growth.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
The burden of chronic diseases, the massive infection rate, and the COVID-19 pandemic have necessitated using immune-diagnostic assays for containment and management. Immunoassay tests are an essential diagnostic tool that offers reliable and low-cost detection of pathogens or target molecules. These tests are used to diagnose both highly prevalent and chronic diseases. On a  scale, immunoassays have become the frontline diagnostics for detecting several pathogens and pathophysiological conditions. The increasing demand for the early-stage diagnosis of disease conditions using immunoassay products is another major factor driving the market growth. ly, the number of diabetics is expected to grow from 643 million in 2030 to 783 million by 2045. Diabetes resulted in 6.7 million deaths worldwide in 2021, while 541 million people are estimated to be at risk of developing diabetes. This factor drives the market CAGR.
The WHO underlined the concern of HIV, which has claimed over 33 million lives; an estimated 38 million people have HIV infections. Similarly, The International Agency for Research on Cancer and GLOBOCAN estimated 19.3 million new cases of cancer and 10.0 million deaths in 2020. Breast cancer dominates this estimate with 2.3 million new cases, followed by lung, colorectal, prostate, and stomach cancer.
Additionally, the major factors contributing to the growth of the clinical immunoassay analyzer market include the increasing prevalence of chronic & infectious diseases, adoption of advanced immunoassay tests, increasing aging population, development in R&D activities to enhance the product, and high demand for next-generation immunodiagnostics. However, high costs and limited reimbursements restrain market growth. The introduction of paper-based electrochemical immunoassay devices and increasing healthcare infrastructure provide lucrative Immunoassay Analyzers market revenue during the forecast period.
Based on instruments, the Immunoassay Analyzers market segmentation includes immunofluorescence, chemiluminescence, ELISA, and radioimmunoassay application. The ELISA segment dominated the market due to rapid tests, ELISpot, western blotting, radioimmunoassay, and other technologies. The large share of this technology segment can primarily be attributed to the increasing use of ELISA tests in cancer diagnosis, infectious diseases detection, and therapeutic drug level monitoring.
Based on Application, the Immunoassay Analyzers market segmentation includes infectious diseases, autoimmune diseases, and AIDS. The infectious diseases segment dominated the market due to the rising prevalence of infectious diseases and the increase in product launches catering to infectious disease diagnosis to drive the segment's growth.
Figure 1 Immunoassay Analyzers Market, by Application, 2022&2032 (USD billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Immunoassay Analyzers market segmentation, based on end-user, includes hospitals. The hospital segment dominated the market because the large share can be attributed to the high demand for immunoassay products in hospitals with increased hospitalizations due to chronic and infectious diseases. The increasing number of corporate hospital chains further boosts market demand for automated immunoassay analyzers.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American immunoassay analyzers market will dominate this market due to the commercial availability of products with advanced technologies. These products' high adoption rate will boost the Region's market growth.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 IMMUNOASSAY ANALYZERS MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Immunoassay Analyzers market accounts for the second-largest market share due to sophisticated healthcare infrastructure, high disposable income, increasing healthcare expenditure, and growing awareness about the early diagnosis of diseases. Further, the German Immunoassay Analyzers market held the largest market share, and the UK Immunoassay Analyzers market was the fastest-growing market in the European Region.
The Asia-Pacific Immunoassay Analyzers Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due tothe rapidly growing number of manufacturing facilities in the Region is boosting the growth in this Region. Moreover, China’s Immunoassay Analyzers market held the largest market share, and the Indian Immunoassay Analyzers market was the fastest-growing market in the Asia-Pacific region.
Immunoassay Analyzers Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Immunoassay Analyzers market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The immunoassay analyzers industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Immunoassay Analyzers industry to benefit clients and increase the market sector. In recent years, the Immunoassay Analyzers industry has offered some of the most significant advantages to medicine. Major players in the Immunoassay Analyzers market, including F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Ltd. (Germany), Abbott (US), Beckman Coulter, Inc. (US), Ortho Clinical Diagnostics (US), bioMérieux Private Limited (France), Biokit S.A (Spain), The Binding Site Group Ltd. (UK), Immunodiagnostic Systems (UK), Merck KGaA (US), Olympus Corporation (Japan), Nova Century Scientific, Inc. (US), Thermo Fisher Scientific (US), DiaSorin S.p.A. (Italy) and Randox Laboratories Ltd. (UK)., and others, are attempting to increase market demand by investing in research and development operations.
Beckman Coulter Inc. is a Danaher Corporation company that develops, manufactures, and markets products that simplify, automate, and innovate complex biomedical testing. It operates in two industries Diagnostics and Life Sciences.Beckman Coulter agreed with Quidel Corporation to gain rights for the BNP assay's manufacturing, distribution, and sales by Quidel for Beckman Coulter analyzers.
Key Companies in the immunoassay analyzers market include
Immunoassay Analyzers Industry Developments
June 2022Â Roche received Emergency Use Authorization from the FDA for the Cobas SARS-CoV- 2 Duo for use on the fully automated Cobas 6800/8800 Systems.
July 2021Â Beckman Coulter agreed with Quidel Corporation to gain rights for the BNP assay's manufacturing, distribution, and sales by Quidel for Beckman Coulter analyzers.
December 2020Â Abbott received US FDA EUA for its BinaxNOW COVID-19 Ag Card Rapid Test.
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)