The global Immunoassay
Market is anticipated to witness strong growth in the years to come due
to rising incidence of chronic and infectious diseases. Rapid globalization has
resulted in the transfer of several types of viruses, pathogens, and bacteria.
Growing cases of hospital acquired infections, along with unhealthy sanitation
practices in daily life, are also responsible for the spread of infections. In
addition, rising occurrence of diseases, including Zika, Ebola, and other
contagious pathogens, is expected to support market growth in the years to
come.
Rapid expansion of the
biotechnology and biopharmaceutical sectors is anticipated to drive the market.
Immunoassays offer accurate results regardless of small samples than
traditional tests. They find widespread applications in therapeutic drug
monitoring, disease diagnosis, clinical pharmacokinetics, and bioequivalence in
drug discovery and pharmaceuticals.
Technological advancements in
immunoassay instruments are projected to have a positive impact on market
growth. Automated instruments and equipment in laboratories are increasingly
replacing manually operated units as they offer advantages, such as quick results,
and requirement of less space and labor.
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Development of novel assays
for various autoimmune conditions, such as oncology and cardiology, is likely
to supplement market growth. Additionally, increasing application in diagnosing
drug monitoring tests, infectious diseases, toxicology testing, and discovery
of biomarkers is anticipated to increase the demand for immunoassay in the
years to come. Rising demand for non-invasive diagnostics methods, analytical
testing, and growing need for reagents are also expected to create growth
opportunities for the market.
However, complexity in the
manufacturing of immunoassays and complex assay procedures can challenge the
market. In addition, limit of detection (LOD) for most of the immunoassays is
limited, which is expected to restrain market growth in the coming years.
Various technologies employed
by immunoassays comprise enzyme-linked immunosorbent assay (ELISA), western
blotting, rapid tests, immuno-PCR, and enzyme-linked immunospot (ELISPOT).
ELISA is likely to expand significantly in the coming years due to extensive
use of immunoassay tests in infectious diseases, cancer, and therapeutic drug
level monitoring. Furthermore, these tests use various products and services,
such as analyzers, reagents and kits, and software. Reagents and kits hold a
prominent share in the market due to their repeat purchase. Additionally,
growing adoption of immunoassay tests due to rising incidence of chronic and
infectious diseases can boost the segment’s growth in the years to come.
North America is the dominant
region in the market due to presence of established healthcare infrastructure.
High prevalence of chronic diseases, increasing applications of immunoassay
methods in cancer research, and growing adoption of low cost and compact
instruments in clinical diagnostics and research laboratories are likely to
boost regional growth. The U.S. is a key contributor to regional market growth
owing to presence of established healthcare facility, well-defined regulatory
framework, and existence of major players.
Asia Pacific is projected to
witness rapid growth in the years to come. Japan is one of the key contributors
to regional market growth. This could be attributed to strong technological
growth and high adoption of immunoassays for the detection and measurement of
specific proteins or antigen-antibodies in varied applications. Emerging
economies, such as India and China, are also expected to contribute
significantly to the growth due to development and production of new vaccines,
drugs, and biologics. Additionally, increasing number of diagnostic
laboratories, and rising investments by the government in the pharmaceutical
and biotechnology sectors can boost regional growth. High investment by the
local and international players is also anticipated to create growth
opportunities for the market in the region. China occupies a key share in the
market owing to adoption of automated laboratory systems.
Some of the key participants
operating in the immunoassay market are Abbott Laboratories, bioMerieux,
Agilent Technologies, Sysmex Corporation, and Thermo Fisher Scientific.
Thermo Fisher Scientific, in
collaboration with Achaogen Inc., introduced a new diagnostic immunoassay to
measure the concentration of plazomicin. Plazomicin is a therapeutic antibiotic
and aminoglycoside employed for the treatment of patients with complicated
urinary tract infections.
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