With the emergence and long-term Impact of COVID-19, Global Albumin ELISA Test Market to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Albumin ELISA Test Market points towards a potential rise to USD XXX Million by 2030. The albumin ELISA (Enzyme-Linked Immunosorbent Assay) test market refers to the market for diagnostic kits used for the measurement of albumin in a patient’s blood sample. Albumin is a protein produced by the liver and is the most abundant protein in the blood. It plays a crucial role in maintaining osmotic pressure, transporting molecules, and regulating pH balance. Abnormal levels of albumin in the blood can indicate a variety of conditions, including liver disease, kidney disease, malnutrition, and inflammation.
The market is driven by key factors such as the increasing prevalence of liver diseases and growing demand for point-of-care testing. According to British Liver Trust, most liver disease patients pass away between the ages of 18 and 65. With 62,000 years of productive life lost each year, liver disease is now the third leading cause of premature mortality in those who are working age. Alcohol, obesity, and viral hepatitis are to blame for 90% of liver disease in the UK, making it avoidable. Each year, about 1000 liver transplants are carried out. At any given time, 350 patients are waiting for liver transplants.
Furthermore, the prevalence of liver cancer has been steadily increasing in recent years, with around 840,000 new cases and 780,000 deaths reported worldwide in 2020. However,, the Lack of awareness and the high cost of ELISA test kits stifle market growth throughout the forecast period of 2023-2030.
Geographically, the global Albumin ELISA Test market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America is currently the largest market for albumin ELISA tests due to the high incidence of liver diseases, high healthcare expenditure, and advanced healthcare infrastructure. Asia-Pacific region is projected to be the fastest-growing region in the albumin ELISA test market. The growth can be attributed to the increasing prevalence of liver diseases, the rising geriatric population, and growing healthcare expenditure in countries such as China, India, and Japan.
The global Albumin ELISA Test market is highly competitive owing to the presence of several key players such as Wuhan Fine Biotech Co., Ltd. Padyab Teb Co. LifeSpan BioSciences, Inc Thermo Fisher Scientific (China) Co., Ltd., MyBiosource, Inc. Boster Biological Technology Shanghai Korain Biotech Co., Ltd. Arbor Assays Inc. CUSABIO Technology LLC Elabscience Biotechnology Inc. and others.
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Key findings of the study suggest:
- Global Albumin ELISA Test Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029.
- In the Product Type segment, Monoclonal emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the high incidence of liver diseases, high healthcare expenditure, and advanced healthcare infrastructure.
- Asia-Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Product Type:
- Monoclonal
- Polyclonal
- Others
By End User:
- Hospitals
- Diagnostic Laboratories
- Research institutions
- Others
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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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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