An immunoassay is a test that uses antibody or immunoglobulin to determine the concentration of a macromolecule in a solution. The identified macromolecule is referred to as an analyte. Immunoassays are used in medical and scientific settings to determine the concentration of analytes in serum and urine. The predictive and preventive medicine for early diagnosis and treatment is significantly driving the immunoassay market expansion, but limitations such as a limited number of experienced specialists may limit market growth.
The prevalence of chronic illnesses, as well as the high incidence of infection and the COVID-19 pandemic, has necessitated the use of immune-diagnostic tests for containment and management. Immunoassay assays are regarded as critical diagnostic tools because they provide accurate and low-cost identification of infections or target compounds. These tests are used to diagnose both acute and chronic illnesses. Immunoassays have emerged as the gold standard for identifying a wide range of infections and pathophysiological disorders on a global scale. Another important factor driving market expansion is the growing demand for early-stage diagnosis of illness conditions using immunoassay solutions. Globally, the number of diabetics is expected to rise from 643 million in 2030 to 783 million by 2045. Diabetes is expected to kill 6.7 million people worldwide by 2021, with 541 million people at risk of developing diabetes (Source: International Diabetes Federation). The WHO emphasised the global issue of HIV, which has claimed over 33 million lives and infected an estimated 38 million people. Similarly, the International Agency for Research on Cancer and GLOBOCAN predicted 19.3 million new cancer cases and 10.0 million deaths in 2020. Breast cancer leads this forecast with 2.3 million new cases, followed by lung, colorectal, prostate, and stomach cancer.
Moreover, the predictive and preventive medicine for early diagnosis and treatment become one of the key drivers of growth in the immunoassay industry. In the field of medicine, there is a global trend toward shifting from reactive to preventative treatment. Changes as a result of this trend will be driven by new approaches to illness, which will pave the way for the establishment of predictive and preventive medicine, eventually leading to individualised medical operations. Personalized medicine improves clinical practise and narrows treatment paths, resulting in lower overall healthcare costs. Accurate diagnosis will be critical for accurately identifying patients and producing tailored treatment, and the demand for equipment such as immunoassays will rise. Governments will also support national initiatives to improve diagnostics.
Key players and researchers have developed a variety of innovative, dependable, and cost-effective immunoassay systems for disease diagnosis. Automated systems provide the flexibility in scale-up, large sampling volume, faster processing, vast storage, and high effectiveness required for COVID-19 diagnosis and treatment. For example: F. Hoffmann-La Roche (Switzerland) introduced the SARS-CoV-2 Rapid Antigen Test Nasal with patient self-collection in February 2021. Beckman Coulter (US) will release a completely automated and qualitative COVID-19 immunoassay, Access SARS-CoV-2 IgG, in May 2021. (1st IS). The immunoassay is a completely quantitative lab-based Immunoglobulin G (IgG) serology test used to determine the quantity of antibodies against the virus that causes COVID-19. Thermo Fisher Scientific, Inc. (US) will release its completely automated analyzers, Thermo Scientific Gallery Enzyme Master and Thermo Scientific Gallery Plus Enzyme Master, in September 2021. In February 2021, Thermo Fisher Scientific Inc bought the private point-of-care molecular diagnostic business Mesa Biotech, bolstering its position in the country's immunoassay market. Suzhou Hybiome Biomedical Engineering Co. Ltd. was bought by bioMérieux in November 2018. This acquisition is anticipated to boost the company's position in the Chinese market.
The global immunoassay market to increase from US$ XX.X million in 2020 to US$ XX.X million by 2025 with a compound annual growth rate (CAGR) of XX.X% for the period 2020-2025. The research report on the global immunoassay market provides extensive competition analysis and competitive conditions. The report includes information on significant products, players, challenges and developments, and other information specific to the immunoassay market. The data in this report is targeted for business and industry practitioners and specifically intended to assist in the explanation, direction, and understanding of the potential of the immunoassay markets. The study focuses on providing readers with an understanding of developments in the industry, market segments, market forecasts, leading players, and market drivers.
Goals and objectives of the study
o Define key market trends, innovations, opportunities, and factors influencing the global market and its sub-segments.
o Identify and analyze primary industry categories and their respective frameworks for the global market.
o Predict the total size of the market internationally and analyze it based on various segments and regions.
o Classify key players and assess the business environment based on recent developments and segment revenue.
Chapter 2, "Market Overview" provides an overview of the immunoassay market. The chapter includes macro-economic factors, market determinants (includes market drivers, restraints, opportunities, and challenges), value chain analysis, technology/product roadmap, Porter 5 force model analysis, market growth opportunity analysis.
Chapter 3 "Segment Analysis" of the study deals with the different sub-segments of the market to calculate reliable market forecasts. The immunoassay market was segmented based on products & services, platform, technology, application. The chapter provides an in-depth analysis of the market segments of the immunoassay market, year-on-year growth projections that enable readers to identify potential market growth areas.
Chapter 4, "Regional Analysis" includes an in-depth analysis of the immunoassay market by regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The report also includes a comprehensive analysis of the immunoassay market in key countries such as the United States, Canada, Germany, France, Italy, Spain, China, India, Japan, the GCC, South Africa, Brazil, Mexico, and the rest of the world. Regional insight helps market competitors to make crucial decisions about their company. Individualized, country-wise, and segment-wise analyses by region allow readers of the immunoassay market report to explore the potential of the market in different geographies. For each year's growth projections and a global share of value, this section is a vital part of the report.
Chapter 5 "Competitive Analysis" of the report includes company shares analysis, a list of acquisitions, mergers, collaboration, and the introduction of new products.
Chapter 6 "Company Profile" of the report also covers key industry players working on the immunoassay market. Some of the prominent competitors in the immunoassay market are Abbott Laboratories, Agilent Technologies, Becton, Dickinson & Company, Biomerieux, Bio-Rad Laboratories, Danaher, Diasorin, Mindray, Ortho Clinical Diagnostics, Perkinelmer, Qiagen, Roche, Siemens, Sysmex, Thermo Fisher Scientific. The report also discusses the business strategies adopted by the players at the global, regional, and country-level. The study also focuses on various businesses or inorganic business development strategies for expanding consumer networks through product formation, enterprise extension, partnerships, mergers, and acquisitions.
The study offers an exhaustive summary and estimate of the global market. It includes in-depth qualitative and quantitative analyses in the report that aligned with the goals and objectives of our customers. Projections have been confirmed by comprehensive primary and secondary analysis. The study will encourage clients to invest in the market based on the current business situation, trends, and potential developments in the segments. Understanding the requirement of the client, the report delivers specialist insights for the global market, its products, and market patterns.
