The global Immunoassay Market size is expected to reach USD 45.1 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.2% from 2022 to 2030. The introduction of PoC rapid tests and automated immunoassay analyzers is boosting the market growth. In addition, the rising number of chronic and infectious diseases is leading to high market growth.
According to the American Cancer Society, there were
an estimated 16.9 million cancer patients/survivors in 2020. Around 1.8 million
cancer cases were diagnosed in the U.S., according to the National Cancer
Institute 2019 data. According to the American Cancer Society, nearly 606,880
deaths occurred due to cancer in the U.S. in 2019. Thus, the rise in the number
of cancer cases being diagnosed is driving the demand for immunoassays. This is
expected to boost the market growth in the coming years.
Furthermore, growing awareness regarding infectious
diseases and preventive measures has led to a high demand for rapid diagnostic
test products, thereby increasing sales. Based on a survey by the WHO on the
World malaria report 2018, manufacturers reported sales of 276 million for
lateral flow assays in 2017. It also reported that around 75.0% of malaria
cases were diagnosed using lateral flow assays in sub-Saharan Africa in 2017.
Several smartphone-based devices and associated tools
have emerged as next-generation point-of-care diagnostics or testing devices,
thereby boosting the market growth. For instance, a smartphone application
combined with the autonomous capillary microfluidic chip is used for the rapid
testing of cardiac troponin I in myocardial infarction. This platform can be
easily used in resource-limited settings, providing test results within 12
minutes. Thus, novel technological advancements are anticipated to further
drive the market over the forecast period.
The first implementation of the Atellica immunoassay
solutions with Aptio automation in the United States was announced by Siemens
Healthcare GmbH in April 2018. The objective of this product was designed to
promote advanced technological products in the U.S. In December 2020,
Beckman Coulter, a Danaher business, introduced its first high-quality as well
as throughput assay for the COVID-19 antigen detection, officially named Access
SARS-CoV-2 Antigen assay. In July 2018, Cygnus Technologies and Gyros
Protein Technologies collaborated to produce immunoassay to identify
biotherapeutic toxins. The two companies' strategic alliance will primarily
focus on offering bioanalytical solutions and increasing biotherapeutics
manufacturing efficiencies.
Related Press Release@ Immunoassay Market Report
Immunoassay Market Report
Highlights
- In 2021, the Enzyme Immunoassays (EIA) technology segment held the
largest revenue share as this technique is used for detecting specific
antigens or antibodies in samples. This technique aids in the precise
detection of chronic and infectious diseases
- The rapid test technology segment held a significant revenue share
in 2021 due to the rise in demand for early diagnosis
- The infectious disease testing application segment dominated the
market in 2021 due to the rise in the incidence of infectious diseases
such as HIV, malaria, influenza, and the novel COVID-19
- The clinical laboratories end-use segment is anticipated to grow at
a rapid pace over the forecast period owing to the increasing
establishment of diagnostic labs in key regions and the large number of
tests being conducted by them
- North America accounted for the largest revenue share in 2021.
Well-established healthcare infrastructure and the easy availability
of technologically advanced instruments in the U.S. are some of the
leading factors fueling the growth of this regional market
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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