With the emergence and long-term Impact of COVID-19, the Global Immunoassay Market is to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Immunoassay Market is poised to raise up to USD XX Billion by 2030. Immunoassay is a biochemical technique used to detect the presence or quantify the concentration of a specific substance, often a protein or antigen, in a biological sample. The method relies on the specificity of the immune system, using antibodies or antigens to selectively bind to the target molecule. These are widely employed in various fields, including clinical diagnostics, research, and environmental monitoring.
The key factors driving the market growth are the rising incidence of chronic and infectious diseases, growing use in oncology, growing geriatric population, and rising use of immunoassays in diagnostic applications that are anticipated to support the market growth during the forecast period 2023-2030. Additionally, the growing geriatric population is a significant factor supporting the growth of the market. As individuals age, they are more prone to chronic diseases, such as cardiovascular diseases, cancer, diabetes, and autoimmune disorders. Immunoassays are crucial in diagnosing and monitoring these conditions by detecting specific biomarkers associated with diseases.
According to the World Health Organization (WHO), in 2020, it was expected that aging people around the world accounted for 1 billion, which is projected to reach 1.5 billion by the year 2030 which represents 1 in 6 people more than 60. Moreover, growing technological advancements in immunoassay instruments are anticipated to create a lucrative opportunity for the market. However, the stringent regulatory scenario for approval of immunoassays stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Immunoassay Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing incidence of chronic diseases, increasing aging population, and rising healthcare expenditure. Whereas, the Asia Pacific is expected to grow with the highest CAGR over the forecast period, owing to factors such as rising healthcare expenditure, increased R&D activities, increasing awareness about personalized medicine, and increasing incidence of chronic diseases.
The global Immunoassay Market is highly competitive owing to the presence of several key manufacturers such as Siemens Healthineers, BioMérieux SA, Abbott Laboratories, Danaher Corporation (Beckman Coulter), Quidel Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, and others.
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Key findings of the study suggest:
- Global Immunoassay Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the application segment, hospitals emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to increasing incidence of chronic diseases.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Product:
- Reagents & Kits
- Analyzers/Instruments
- Software & Services
By Technology:
- Radioimmunoassay (RIA)
- Enzyme Immunoassays (EIA) Rapid Test
- Others
By End-use:
- Therapeutic Drug Monitoring
- Oncology
- Cardiology
- Endocrinology
- Infectious Disease Testing
- Autoimmune Diseases
By Application:
- Hospitals
- Blood Banks
- Clinical Laboratories
- Pharmaceutical and Biotech Companies
- Academic Research Centers
- Others
By Form:
- Natural Immunoassay
- Synthetic Immunoassay
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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