The immunoassay market size was estimated to reach US$ 37,987.76 million by 2027 from US$ 21,800.00 million in 2018; it is estimated to grow at a CAGR of 6.5% during 2019-2027.
In recent years, the biotechnology industry is developing at an extraordinarily rapid speed. Manufacturers are confronting various healthcare difficulties through the latest medicines, progressing digitalization, therapy forms, and continuously changing the management. As per the statistics from the World Health Organization (WHO), the population around the globe is rising by 1.2% per annum, leading to growth in population in the elderly class. The WHO also reveals that the balance of people aged 65–80 will increase to 28% in 2030, as compared to 22% in 2000. The Government of India, along with prime departments in India such as the Indian Council of Medical Research (ICMR), Department of Biotechnology (DBT), Council of Scientific and Industrial Research (CSIR), Indian Council of Agricultural Research (ICAR), Department of Science and Technology and others, is contributing significantly toward the growth of biotechnology application-based products and services in the country. The Government of India reported revenue of US$ 11.6 billion in 2017 for biotechnology. These factors are expected to increase biotechnology & biopharmaceutical industries to achieve efficient tests, which are predicted to drive the growth of the market
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The global immunoassay market, based on product, is segmented into reagents & kits, analyzers and instruments, and software & services. Reagents & kits was the largest segment among the product subsegments in the immunoassay market in 2018. However, the software & services segment is expected to witness growth in its demand at the fastest CAGR of 6.8% during 2019 to 2027.The global immunoassay market, based on technology, is segmented into enzyme-linked immunosorbent assays (ELISA), fluorescence, chemiluminescence, rapid test, western blot, enzyme-linked immune absorbent spot (ELISPOT), and polymerase chain reaction (PCR). Chemiluminescence was the largest segment among the technology subsegments in the immunoassay market in 2018. However, the rapid test segment is expected to witness significant growth in its demand at the fastest CAGR of 7.3% during 2019 to 2027. The global immunoassay market, based on application, is segmented into therapeutic drug monitoring, oncology, cardiology, endocrinology, infectious disease testing, autoimmune diseases, and others. Therapeutic drug monitoring is the largest segment among the application subsegments in the immunoassay market in 2018. However, the infectious disease testing segment is expected to witness tremendous growth in its demand at the fastest CAGR of 7.0% during 2019 to 2027. The global immunoassay market, based on end user, is segmented into hospitals, blood banks, clinical laboratories, pharmaceutical and biotech companies, academic research centers, and others. The hospitals segment held the largest share in 2018 and is expected to witness significant growth in its demand at the fastest CAGR of 6.9% during 2019 to 2027.
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Immunoassay Market: Segmental Overview
Technology-Based Insights
The global immunoassay market, based on technology, is segmented into enzyme-linked immunosorbent assays (ELISA), fluorescence, chemiluminescence, rapid test, western blot, enzyme-linked immune absorbent spot (ELISPOT), and polymerase chain reaction (PCR). The chemiluminescence segment was the largest among the technology subsegments in the immunoassay market in 2018. However, the rapid test segment is expected to witness growth in its demand at the fastest CAGR of 7.3% during 2019 to 2027.
Product-Based Insights
The global immunoassay market, based on product, is segmented into reagents & kits, analyzers and instruments, and software & services. The reagents & kits segment was the largest among the product subsegments in the immunoassay market in 2018. However, the software & services segment is expected to witness growth in its demand at the fastest CAGR of 6.8% during 2019 to 2027.
Application-Based Insights
The global immunoassay market, based on application, is segmented into therapeutic drug monitoring, oncology, cardiology, endocrinology, infectious disease testing, autoimmune diseases, and others. The therapeutic drug monitoring segment was the largest among application subsegments in the immunoassay market in 2018. However, the infectious disease testing segment is expected to witness growth in its demand at the fastest CAGR of 7.0% during 2019 to 2027.
End User-Based Insights
The global immunoassay market, based on end user, is segmented into hospitals, blood banks, clinical laboratories, pharmaceutical & biotech companies, academic research centers, and others. The hospitals segment was the largest among the end user subsegments in the immunoassay market in 2018. In addition, the hospitals segment is expected to witness growth in its demand at the fastest CAGR of 6.9% during 2019 to 2027.
Company Profiles
- Siemens
- BD
- bioMérieux SA
- Abbott
- F. Hoffmann La-Roche Ltd.
- Danaher
- Ortho Clinical Diagnostics (Johnson & Johnson Services, Inc.)
- Sysmex Corporation
- Thermo Fisher Scientific, Inc.
- Quidel Corporation
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