Chemiluminescence Immunoassay - Market Insights, Competitive Landscape, and Market Forecast - 2030

Chemiluminescence Immunoassay - Market Insights, Competitive Landscape, and Market Forecast - 2030

Chemiluminescence Immunoassay Market By Product Type (Instruments, Reagents, And Consumables ), By Application (Hepatitis, Cancer, Covid-19, And Others), By End-User (Hospitals And Diagnostic Labs, Pharmaceutical And Biotech Industries, And Others), by geography is estimated to register growth at a remarkable CAGR during the forecast period from 2024-2030 owing to surge in the prevalence of infectious diseases and continuous research and development activities happening in pharmaceutical and biotech industries.

The global chemiluminescence immunoassay market is estimated to grow at a CAGR of 8.83% during the forecast period from 2024 to 2030. The chemiluminescence immunoassay market is slated to witness prosperity owing to factors such as the growing prevalence of diseases such as cancer, diabetes, and cardiovascular diseases, among others. Further, the rising awareness of health especially after the COVID-19 pandemic, and the growing focus on improving the accuracy, portability, affordability, and usability of chemiluminescence immunoassay for end-users are expected to result in appreciable revenue growth in the chemiluminescence immunoassay market during the forecast period (2024-2030).

Chemiluminescence Immunoassay Market Dynamics:

One of the noteworthy drivers of the chemiluminescence immunoassay market is the elevation in cases of diabetes mellitus worldwide. As per the International Diabetes Federation (IDF) 2022, worldwide around 537 million adults aged between 20 and 79 years have diabetes. Various biomarkers associated with diabetes mellitus such as insulin and C-peptide can be detected accurately with chemiluminescence immunoassay thus contributing to its market growth.

The different cancer types affecting millions of people worldwide are another driver for the chemiluminescence immunoassay market. For instance, as per the World Health Organization (WHO) 2022, there were around 2.26 million cases of breast cancer, 2.21 million cases of lung cancer, and 1.93 million cases of colon and rectal cancer, reported in the year 2020 globally. Therefore, the rising awareness of cancer such as lung, breast, and prostate cancer amongst the adult population as well as the recommendation of annual tests for biomarkers of these diseases by doctors is going to accelerate the market for chemiluminescence immunoassay. For instance, many physicians recommend an annual prostate-specific antigen test (PSA) for males aged 50 years or above.

The rise in age-related fertility loss is another driver for the chemiluminescence immunoassay market as these are widely used for testing fertility and pregnancy. As per the Centers for Disease Control and Prevention (CDC) 2022, around 22% of couples in which women aged 30-39 face problems in having their first child.

Also, the continuous research and development across pharmaceutical and biotechnology industries are driving the growth of the chemiluminescence immunoassay market.

However, the availability of alternative products, high cost, and lack of skilled healthcare experts may act as restraining factors to the chemiluminescence immunoassay market growth.

During the period of COVID-19 infection, the chemiluminescence immunoassay market witnessed a setback owing to the increased number of cases leading to an increased need for diagnostic tools and technologies. The COVID-19 pandemic resulted in vast FDA approvals of diagnostic kits under emergency use status which further led to the development of sensitive and reliable chemiluminescence immunoassay-based diagnostic kits for the detection of Sars COV-2. Thus, positively impacting the chemiluminescence immunoassay market.

Chemiluminescence Immunoassay Market Segment Analysis:

Chemiluminescence Immunoassay Market By Product Type (Instruments, Reagents & Consumables), By Application (Hepatitis, Cancer, Covid-19, and Others), End-User (Hospitals and Diagnostic Labs, Pharmaceutical and Biotech Industries, and Others), Geography (North America, Europe, Asia-Pacific, and Rest of the World)

Based on the product type segment of the chemiluminescence immunoassay market, Instruments are going to register significant growth in revenue in the chemiluminescence immunoassay market during the forecast period (2024-2030).

This can be ascribed to the rising prevalence of multiple diseases and the application of chemiluminescence immunoassay analyzers in their diagnosis. For instance, EXI 1800 a fully automated chemiluminescence immunoassay analyzer developed by Zybio Inc. can be used in the testing of SARS-CoV-2, diabetes, thyroid, and cardiac diseases, among others.

Also, the various advantages associated with the chemiluminescent immunoassay analyzers such as their simple design, fast analysis, high specificity, excellent sensitivity along with providing reliable results, among others increase their popularity in various sectors.

Moreover, the various limitations of traditional methods such as complicated operation, less efficacy, limited accuracy, high time consumption, and other related drawbacks can be overcome by chemiluminescence immunoassay analyzers.

Therefore, considering the growing demand for this product type, numerous new products are being launched in the market. In July 2020, Sysmex Corporation introduced the Automated Blood Coagulation AnalyzersCN-6500/CN-3500 to be used in the field of thrombosis and hemostasis. Therefore, considering the advantages associated with chemiluminescence immunoassay analyzers and their growing popularity among end-users, this product category is expected to generate considerable revenue thereby pushing the overall growth of the global chemiluminescence immunoassay market during the forecast period.

North America is expected to dominate the overall Chemiluminescence Immunoassay Market:

Among all the regions, North America is expected to lead in revenue generation in the global chemiluminescence immunoassay market. This can be ascribed to the presence of a large patient pool associated with lifestyle diseases, government support, high consumer awareness regarding disease diagnosis, and a highly potent market in terms of product development and launches, among other factors in the region.

One of the prominent factors supporting the growth of the North America chemiluminescence immunoassay market is the extensive use of chemiluminescence immunoassay in the detection of tumor markers indicating cancer development. For instance, according to National Cancer Institute 2020, it was estimated that around 1,806,590 cancer cases were diagnosed in the year 2020 in the United States. Also, as per the same source prostate, lung, and colorectal cancer accounts for 43% of the cancer cases in men, and breast, lung, and colorectal make up 50% of cancer cases in women.

Moreover, the rise in cardiovascular diseases among the U.S. population is another driver of chemiluminescence immunoassay market growth. For instance, according to the Centers for Disease Control and Prevention (CDC) 2022, around 18.2 million people aged 20 or above have coronary artery disease in the U.S. Also, as per the same source around 805,000 people face heart attacks every year with 605,000 people facing it for the first time and about 200,000 having at least one incident of a heart attack before. This indicates the huge need for chemiluminescence immunoassay for the detection of cardiac markers assisting in CVDs identification and therefore leading to market growth of chemiluminescence immunoassay.

Also, the prevalence of thyroid diseases is another major factor in the chemiluminescence immunoassay market growth. According to American Thyroid Association 2019, around 20 million people in America have some form of thyroid disease, and an estimated 12 percent or more of American people will develop thyroid disease during their lifetime.

Therefore, the presence of a large number of patients coupled with the increasing focus of manufacturers on launching new products in the market is expected to bolster the growth of the chemiluminescence immunoassay market in the United States during the forecast period.

Chemiluminescence Immunoassay Market Key Players:

Some of the key market players operating in the Chemiluminescence Immunoassay market include Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Beckman Coulter, Inc., Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, Maccura Biotechnology Co., DiaSorin, Autobio, Diatron, Daan Gene Co., Ltd, Trivitron Healthcare, Werfen, ALPCO, Medcaptain Medical Technology Co., Ltd., ZECEN Biotech Co., Ltd, PHC Holdings Corporation, Awareness Technology, Inc., Rayto Life and Analytical Sciences Co.,Ltd., Shenzhen New Industries Biomedical Engineering Co., Ltd., Guangzhou Jinde Biotech Co., Ltd., and others.

Recent Developmental Activities in the Chemiluminescence Immunoassay Market:

In November 2022, DiaSorin and MeMed received the CE Mark for Liaison MeMed BV which is a high-throughput chemiluminescent immunoassay enabling physicians to differentiate between bacterial and viral infections

In May 2022, Inova Diagnostics Inc. received U.S. Food and Drug Administration (FDA) approval for its QUANTA Flash® SARS-CoV-2 IgG chemiluminescent immunoassay under emergency use status.

In April 2022, Snibe, Diagnostic received CE marking for Maglumi HIV Ab/Ag Combi CLIA kit which detects HIV-1 and HIV-2 antibodies and the HIV-1 p24 antigen.

Key Takeaways from the Chemiluminescence Immunoassay Market Report Study

Market size analysis for current chemiluminescence immunoassay market size (2023), and market forecast for 6 years (2024-2030)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the chemiluminescence immunoassay market.

Top key product/services/technology developments, mergers, acquisitions, partnerships, joint ventures happened for last 3 years

Key companies dominating the global chemiluminescence immunoassay market.

Various opportunities available for the other competitor in the chemiluminescence immunoassay market space.

What are the top performing segments in 2023? How these segments will perform in 2027.

Which is the top-performing regions and countries in the current chemiluminescence immunoassay market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for chemiluminescence immunoassay market growth in the coming future?

Target Audience who can be benefited from this Chemiluminescence Immunoassay Market Report Study

Chemiluminescence immunoassay products providers

Research organizations and consulting companies

Chemiluminescence immunoassay-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in chemiluminescence immunoassay

Various end users who want to know more about the chemiluminescence immunoassay market and the latest technological developments in the chemiluminescence immunoassay market.

Frequently Asked Questions for Chemiluminescence Immunoassay Market:

1. What is Chemiluminescence Immunoassay?

Chemiluminescence Immunoassay is a type of diagnostic assay that uses a combination of chemiluminescence techniques with immunochemical reactions for the detection of an antigen-antibody complex formed and thus helping in disease diagnosis.

2. What is the market for the global chemiluminescence immunoassay?

The global chemiluminescence immunoassay market is estimated to grow at a CAGR of 8.83% during the forecast period from 2024 to 2030.

3. What are the drivers for the global chemiluminescence immunoassay market?

The chemiluminescence immunoassay market is slated to witness prosperity owing to factors such as the growing prevalence of lifestyle diseases such as cancer, diabetes, and thyroid diseases among others, growing aging population base which is susceptible to the development of cardiac, and other diseases. Further, the rising awareness of health, and the growing focus on improving the accuracy, affordability, portability, and usability of chemiluminescence immunoassay for end-users are expected to result in appreciable revenue growth in the chemiluminescence immunoassay market during the forecast period (2024-2030).

4. Who are the key players operating in the global chemiluminescence immunoassay market?

Some of the key market players operating in the chemiluminescence immunoassay market include Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Beckman Coulter, Inc., Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, Maccura Biotechnology Co., DiaSorin, Autobio, Diatron, Daan Gene Co., Ltd, Trivitron Healthcare, Werfen, ALPCO, Medcaptain Medical Technology Co., Ltd., ZECEN Biotech Co., Ltd, PHC Holdings Corporation, Awareness Technology, Inc., Rayto Life and Analytical Sciences Co.,Ltd., Shenzhen New Industries Biomedical Engineering Co., Ltd., Guangzhou Jinde Biotech Co., Ltd., and others.

5. Which region has the highest share in the chemiluminescence immunoassay market?

North America is expected to dominate the overall Chemiluminescence Immunoassay Market during the forecast period, 2024 to 2030. This can be ascribed to the presence of a large patient pool associated with cardiovascular diseases which can further be attributed to the poor lifestyle of people, high consumer awareness regarding new market launches, government support, and a highly potent market in terms of product development and launches, and the local presence of key market players among other factors in the region.