The Global Immunoassay Analyzers Market is forecasted to grow at a rate of 5.0% from USD 17.75 Billion in 2021 to USD 26.40 Billion in 2030. Immunoassay is a test to measure the concentration or presence of a molecule via an antibody or an antigen. The molecule detected through this test is termed as an ‘analyte’ and, in some cases, also as protein. Clinical Immunoanalyzer is a medical diagnostic device that identifies and quantifies specific analytes in the blood or samples of body fluids by using immunoassay processes, such as immunoprecipitation, particle immunoassays, immunonephelometry, radioimmunoassay, enzyme immunoassay, fluorescent immunoassay, and chemiluminescent immunoassays. Immunoassay analyzer is used in the medical sector for the detection of bacteria & viral toxins, drug monitoring, allergy testing, and cancer markers.
The strict policies, regulations, and decline in reimbursements from the public sector in the developed markets such as the U.S. and Western Europe might hinder the market growth. The pressure on independent diagnostic laboratories to reduce their capital expenditures is another major restraint on the development of the market. Furthermore, the consolidation process and agreements between hospitals and diagnostic laboratories regarding the R&D may slow down the overall business.
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The growing prevalence of cancer is a significant factor in driving the market growth. Cancer has a significant impact on global society, including the US. Detection of the disease at an early stage significantly increases the chances of survival. Creating awareness to encourage early diagnosis and screening are the crucial steps responsible for early detection of the disease. Identifying likely warning symptoms of the disease and taking rapid measures is necessary for early diagnosis. Greater awareness of probable symptoms of cancer amongst physicians, nurses, and other healthcare providers, in addition to the general public, would positively impact the survival rate and hence would be instrumental in increasing the market demand.
There are different types of immunoassay, and the growing demand for chemiluminescence immunoassay is augmenting the demand for the market. The development of immunoassay techniques is also encouraging the growth of the market.
Radioimmunoassay is an in vitro assay which measures the presence of an antigen with extreme sensitivity. The technique is very sensitive and specific, needs specialized equipment, and it is a cost-effective method to perform such measurements. It needs special licensing and precautions as radioactive substances are used.
Cancer/tumor profiling deploys a tumor-specific patient-focused approach for the treatment of cancer by precisely targeting the tumor of an individual patent. Predominantly, tumor profiling may be helpful in increasing the chances of a patient getting benefitted from prescribed therapies for disease treatment. The profiling aids in using the most effective approach and identify essential options for treatment that may not have been opted for otherwise. Further, it is likely to reduce the overall healthcare expenditure pertaining to the disease.
Cancer has a significant impact on society in the US and across the globe. It has been estimated that 1,735,350 new cancer cases were diagnosed in the US, and 609,640 people suffered death from the disease. The number of further incidences of cancer is 439.2 per 100,000 men and women annually, and the number of cancer-related morbidities is 163.5 per 100,000 men and women annually. Moreover, it has been estimated that in 2022, 15,270 children and adolescents in the age range of 0-19 years were diagnosed with cancer, out of which 1,790 suffered death owing to the disease. In the year 2022, an estimated USD 147.30 billion was spent on cancer care in the US.
North America dominated the market, with a revenue of USD 6.06 billion in 2021. Healthcare investment keeps on increasing substantially in recent years. Such heavy investment has focused on fighting major diseases, authorized by the invention of valid and cost-effective drug development for side effect reduction and treatment, along with enhanced vector control.
The immunoassay test analyzers market in Europe is expected to grow at a CAGR of 5.1% to reach USD 8.18 billion in 2030. The intense research & development based in Europe has been supporting the market growth in this region.
Owing to the presence of many developing countries, rapid economic developments, and the demand for better health care solutions, the Asia Pacific is expected to witness substantial growth. Increasing research and development and high investments by the manufacturers are driving the growth of the market in this region.
- A continuous upward trend in the number of diseases like diabetes, hypertension, kidney inflammation, and hematological disorders are positively supporting the market. Increasing partnerships, expansion, mergers, and acquisitions are expected to further drive the market for the immunoassay analyzers market.
- The Hospital segment is dominating that generated the highest revenue of USD 11.35 Billion in 2021, with a CAGR of 5.1% during the forecast period. The revenue generated by the segment is resultant of an increasing rate of hospitalization associated with immunoassay analyzer and elevated demand for interventional cardiology devices for providing treatment to these care users in hospitals.
- The Enzyme-Linked Immunoassay (EIA) is used to commonly measure antigens, antibodies, glycoproteins, and proteins in biological samples. For instance, HIV infection diagnosis, measurement of cytokines, and pregnancy tests. The segment is forecasted to grow with a CAGR of 5.2% during the forecast period.
- North America dominates the market owing to the increasing number of manufacturers, the spread of infectious diseases, improved health care infrastructure, and the development of various new products.
Companies considered and profiled in this market study
bioMerieux Inc., Abbott Laboratories, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Roche Diagnostics, Beckman Coulter Inc., Diasorin S.p.A., Siemens Healthcare GmbH, Sigma Aldrich. Co. LLC. and Boditech Med, Inc, have been profiled in the report. They are the major manufacturers of the product.
The players operating in the market have undertaken a number of strategies related to the market in the period 2018-2020. The key highlight is:
- In 2018, in the assay kits sector, Mabtech introduced a human IL3 ELISpot kit. Such advancements continue the growth of the company in the market.
- To continue its strong presence in the healthcare sector, Lophius Biosciences another product in 2022, the next generation of T Track CMV, an Immune Monitoring Tool. The test is used for risk stratification of human cytomegalovirus in transplant patients.
The industry offers numerous growth opportunities. Thus, a number of high-performance coating startups providing innovative products and technologies have been entering the industry. One of them includes Quanterix, among others.
Mergers and Acquisitions are an integral part of the Immunoassay Analyzers industry. Along with the companies operating in the industry, other key industry players have also been entering the industry.
- In 2022, Symbio Laboratories Pty Ltd (Symbio) acquired Sydney based laboratory company Advanced Analytical Australia Pty Ltd (AAA). AAA offers a wide variety of microbiology, chemistry, and DNA-based analytical testing services, to customers in the Food, Environmental, Biopharmaceutical, and Agrichemical market sectors.
Reports and Data forecast promising developments for increased adoption of Immunoassay Analyzers technology. According to industrial experts, demand relating to the technology will increase. Furthermore, new manufacturers are contemplated to enter the market, which is likely to provide platform-centric solutions for production applications. Startups infiltrating the industry would focus on innovating and manufacturing new products through advanced technologies, thereby reducing complexity and lowering the overall total cost of operation. Experts also believe that increase in the adoption of science for research in emerging nations would be a key development area for the industry.
Segments Covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2021 to 2030. The scope of the report can be defined as:
Product Outlook (Revenue, USD Billion; 2022-2030)
- Immunofluorescence analyzers
- Enzyme-Linked Immunoassay (EIA)
- Chemiluminescence Immunoassay
- Consumables & Accessories
Application Outlook (Revenue, USD Billion; 2022-2030)
- Therapeutic Drug Monitoring
- Infectious Disease Testing
- Autoimmune Disease
End-User Outlook (Revenue, USD Billion; 2022-2030)
- Diagnostic Laboratories
- Research Institutes
Regional Outlook (Revenue, USD Billion; 2022-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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