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Market Research Future (MRFR) studied the global immunoassay market 2021 over the review period till 2025. As per MRFR study, the market is expected to surge at 5.9% CAGR over the evaluation period. By 2025, the market value can touch USD 18,626.7 Mn.
Market Drivers and Restrains
The rise in demand for immunoassay owing to the growing demand for biochemical test as cases of infectious disease is increasing can prompt the expansion of the immunoassay market in the near future. Immunoassay test works on the principle of biochemistry and use concentration and presence of an analyte, such as; lipid, protein, and nucleic acid among others, that deliver highly accurate result. In solution samples, such as; serum, and urine among others, analysing antibody-antigen reactions offers diagnostic insights that aid in the making of an effective treatment regimen. Increase in expense for R&D for the designing of better immunoassay solutions, along with aforementioned factors, can add to the rapid growth of the market. The adoption of automation technology and it incorporation in equipment designed for immunoassay test boost efficacy, and provide cost-effectiveness that can favor market growth.
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Major Key Players:
Few of the leading players in the global market are Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, bioMérieux SA, Siemens Healthineers, Abbott Laboratories, Becton, Dickinson and Company, Danaher Corporation, Merck KGaA, Sysmex Corporation, Ortho-Clinical Diagnostics/Carlyle Group, Quidel Corporation, and DiaSorin S.p.A.
The immunoassay market has been segmented into product, indication, technology and end user.
On the basis of product, market segmentation includes reagents and kits, software, analyzers/instruments, and services. In 2018, reagents and kits segment turned out to be the largest value contributor to the market due to growing use of reagents and kits in assessment of disorders, rising incidence of chronic and infectious diseases and repetitive purchase by the users.
On the basis of indication, the global market is segmented as oncology, endocrinology, cardiology, infectious diseases, therapeutic drug monitoring, autoimmune diseases, and others.
By technology, the immunoassay market has been categorized into enzyme-linked immunosorbent assay (ELISA), radioimmunoassay (RIA), chemiluminescence immunoassay (CLIA), enzyme-linked fluorescent assay (ELFA), rapid test, and others.
According to end user, the immunoassay market categorization includes hospitals, blood banks, clinical laboratories, academic and research institutes, pharmaceutical and biotechnology companies, and others.
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The Americas, Asia-Pacific, Europe, and the Middle East and Africa, are key areas that are studied for the global immunoassay market to shed light on demographic and geographic factors that are responsible for the current status of the market.
The Americas immunoassay market is expected to exhibit its supremacy over other regions in the analysis tenure. this is often attributed to headquartered major market participants, increasing expenditure on analysis
and development activities, the rising burden of chronic diseases and complicated healthcare infrastructure, and growing adoption of immunochemical assay within the North American country and Canada.
Europe, after the Americas, is anticipated to earn high revenue for the global immunoassay market over the review tenure due to flourishing biotechnology and pharmaceutical companies. The mounting adoption in diagnostic measures, and growing use of luminescence immunochemical assay within the UK, Germany, and France.
The market of immunoassay in the Asia Pacific would register a high growth pace over the next seven years because of booming medical tourism, fast developing health care infrastructure, increasing geriatric population including the rising burden of chronic diseases, growing awareness regarding immunochemical assay tests within the developing countries, similar to China, India, Singapore, and Australia.
In Middle East Asia and Africa region, the market of immunoassay can is projected to demonstrate a gradual growth over the forecast time period. In addition, the key market share of the region would be held by the center jap region thanks to recent activity from governments in the region approaching investors to expand the non-public sector in health care which continues to be encouraging.
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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