The market growth is primarily driven by the increasing incidence of chronic and infectious diseases and technological innovations in immunoassays instruments.
Market Size -
According to the new market research report immunoassays market is expected to reach USD 27.15 billion by 2023 from USD 20.19 billion in 2018, at a CAGR of 6.1%.
The global immunoassays market is segmented by product and service, platform, technology, specimen type, application, end user, and region.
By product and service, the market is segmented into reagents and kits, analyzers, and software & services.
The immunoassay reagents and kits segment accounted for the largest share of this market in 2017.
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By platform, the market is segmented into chemiluminescence immunoassays (CLIAs), colorimetric immunoassays (CIs), fluorescence immunoassays (FIAs), radioimmunoassays (RIAs), and other platforms. The CLIAs segment accounted for the largest share of the immunoassays market in 2017. The large share of this segment can primarily be attributed to the low cost and high sensitivity of CLIA-based tests.
On the basis of technology, the immunoassays market is segmented into enzyme-linked immunosorbent assays (ELISA), rapid tests, western blotting, enzyme-linked immunospot (ELISPOT), immuno-PCR, and other technologies.
By application, the immunoassays market is classified into infectious diseases, endocrinology, bone and mineral disorders, oncology, cardiology, hematology and blood screening, autoimmune disorders, toxicology, neonatal screening, and other applications.
Geographic Overview -
On the basis of region, the immunoassays market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, North America accounted for the largest share of the immunoassays market. The availability of government funds, growing use of immunoassays in clinical diagnostics, and the presence of key players in the region are driving the immunoassays market in North America.
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Major industry players adopted product launches and partnerships, collaborations, & agreements to maintain and improve their position in the immunoassay market. Roche (Switzerland), Abbott Laboratories (US), Siemens (Germany), and Danaher Corporation (US) have been identified as key players in this market. These companies have a broad product portfolio with comprehensive features and have also expanded their presence geographically. These leaders also have products for all end users in this market, a strong geographical presence, and they focus on continuous product innovations.
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