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) & Region - Global Forecast to

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) & Region - Global Forecast to 2028

The global immunoassay market is valued at an estimated USD 35.0 billion in 2023 and is projected to reach USD 46.7 billion by 2028, at a CAGR of 5.9% during the forecast period. Market growth is driven by factors such as the rising prevalence of chronic and infectious diseases, innovations in the systems and technologies, supportive government policies and initiatives, and increasing drug and alcohol abuse and stringent laws mandating drug and alcohol testing.

“The reagents & kits to register the largest share of the immunoassay market, by product.”

The global immunoassay market is segmented into reagents & kits and analyzers based on product. Market growth is largely driven by the repetitive use of reagents & kits for various diagnostic procedures coupled with the increase in the volume of immunoassay-based tests conducted worldwide. Moreover, the availability of better reagents & kits that offer efficient results and precision in diagnosis attributes to their growing requirement resulting in growth of the segment.

“Chemiluminescence Immunoassay segment to grow at a considerable rate among technology during the forecast period.”

The immunoassay market is segmented into ELISA, Chemiluminescence Immunoassay (CLIA), Immunofluorescence assay (IFA), rapid tests, ELISpot, western blotting, and other technologies. CLIA tests help efficiently diagnose various chronic and infectious diseases compared to other techniques such as ELISA and radioimmunoassays, owing to benefits such as sensitivity, wide dynamic range, better speed, reduced interference, and high specificity.

“Infectious diseases segment accounted for the largest share in the immunoassay market, by application.”

The global immunoassay market is segmented into infectious diseases, cardiology, endocrinology, oncology, bone & mineral disorders, autoimmune disorders, blood screening, allergy diagnostics, drug monitoring and testing, newborn screening, and other applications. The application segment of infectious diseases accounted for a considerable share in 2022, primarily due to the rapid diagnosis of infectious diseases coupled with the increasing incidence of diseases such as HIV/AIDS, malaria, hepatitis, and influenza, among others.

“Asia Pacific: The fastest-growing region in the immunoassay market.”

The global immunoassay market is segmented into five regions - North America, Europe, the Asia Pacific, the Middle East & Africa, and Latin America. The Asia Pacific region is expected to grow at the highest rate during the forecast period in the immunoassay market. The high growth in the region is due to the presence of a large target population, and rising prevalence of chronic disorders in Asian countries.

The break-up of the profile of primary participants in the immunoassay market:

By Company Type: Tier 1 - 28%, Tier 2 - 41%, and Tier 3 – 31%

By Designation: C-level - 30%, D-level - 34%, and Others - 36%

By Region: North America - 38%, Europe - 27%, Asia Pacific - 18%, Latin America – 6% and Middle East & Africa – 11%,

The key players in this market are Abbott Laboratories (US), F. Hoffmann-La Roche Ltd (Switzerland), Siemens Healthineers AG (Germany), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), PerkinElmer, Inc. (US), Becton, Dickinson and Company (US), DiaSorin S.p.A (Italy), Bio-Rad Laboratories, Inc. (US), QuidelOrtho Corporation (US), bioMérieux (France), QIAGEN N.V. (Germany), Sysmex Corporation (Japan), Shenzhen Mindray Bio-Medical Electronics Co., LTD. (China), Agilent Technologies (US), Merck KGaA (Germany), Meridian Bioscience (US), Bio-Techne (US), Cellabs (Australia), Abnova Corporation (Taiwan), J. Mitra & Co. Pvt. Ltd. (India), Tosoh Corporation (Japan), Cell Sciences (US), Enzo Biochem (US), Creative Diagnostics (US), Boster Biological Technology (US), Elabscience (US), WAK-Chemie Medical GmbH (Germany), Sera Care (US), Epitope Diagnostics Inc. (US), Kamiya Biomedical Company (US), Gyros Protein Technologies (Sweden), Trivitron Healthcare (India), InBios International Inc. (India), and Maccura Biotechnology Co., Ltd. (China).

Research Coverage:

This research report categorizes the immunoassay market by product (reagents & kits and analyzers), specimen type (blood, urine, saliva, and other specimens), technology (enzyme-linked immunosorbent assays, rapid tests, chemiluminescence immunoassay, immunofluorescence assay, enzyme-linked immunospot, western blotting, and other technologies), application (infectious diseases, blood screening, oncology, endocrinology, bone and mineral disorders, autoimmune disorders, cardiology, drug monitoring and testing, allergy diagnostics, newborn screening, and other applications), end user (clinical laboratories, hospitals and clinics, research & academic laboratories, blood banks, pharmaceutical and biotechnology companies & CROs, and home care settings), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the immunoassay market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products offered, key strategies, acquisitions, and partnerships. New product launches and approvals, and recent developments associated with the immunoassay market. This report covers the competitive analysis of upcoming startups in the immunoassay market ecosystem.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall immunoassay market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (incidence of chronic and infectious diseases and growing awareness about early disease diagnosis, in systems and technologies, growth in biotechnology and biopharmaceutical industries, increasing adoption of immunoassay-based POC testing and rapid testing, supportive government policies, and increasing drug and alcohol abuse and stringent laws mandating drug and alcohol testing), restraints (requirements for approval of immunoassay instruments and consumables and technical hurdles of immunoassay kits), opportunities (opportunities in emerging economies, importance of companion diagnostics, development of condition-specific biomarkers and tests, integration of microfluidics in immunoassays, and improving immunoassay diagnostic technologies), and challenges (design challenges, complexities, and quality of antibodies, dearth of skilled professionals, unfavourable reimbursement scenario, and financial hurdles faced by physicians) influencing the growth of the immunoassay market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the immunoassay market.

Market Development: Comprehensive information about lucrative markets – the report analyses the immunoassay market across varied regions.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the immunoassay market

Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players like Abbott Laboratories (US), F. Hoffmann-La Roche Ltd (Switzerland), Siemens Healthineers AG (Germany), Danaher Corporation (US), and Thermo Fisher Scientific Inc. (US)among others in the immunoassay market strategies.