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Immunoassay Global Market Report 2023

May 13, 2023May 13, 2023

Major players in the immunoassay market are Siemens Healthineers GmbH, bioMérieux, Abbott, Beckman Coulter Inc., Quidel Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Bio-Rad Laboratories Inc.

New York, June 01, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Immunoassay Global Market Report 2023" - , BD, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Merck KGaA, Agilent Technologies Inc., PerkinElmer Inc, WAK-Chemie Medical GmbH, J Mitra & Co Pvt Ltd, Kamiya Biomedical Company, Tosoh Corporation, Gyros Protein Technologies AB, BioCheck Inc., Bio-Techne, DiaSorin S.p.A, Meso Scale Diagnostics LLC, QIAGEN, Randox Laboratories Ltd. and Shenzhen Mindray Bio-Medical Electronics Co Ltd.The global immunoassay market is expected to grow from $32.76 billion in 2022 to $34.45 billion in 2023 at a compound annual growth rate (CAGR) of 5.16%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The immunoassay market is expected to reach $42.09 billion in 2027 at a CAGR of 5.13%.The immunoassay market includes revenues earned by entities by supplying immunoassay kits, analyzers, and reagents.The market value includes the value of related goods sold by the service provider or included within the service offering.Only goods and services traded between entities or sold to end consumers are included.Immunoassay is a bioanalytical test that employs antibody attachment to antigens to detect and quantify specific chemicals.Diseases can be diagnosed using immunoassays.Furthermore, information from test findings concerning an illness may be used to establish a course of therapy. This technique relies primarily on a competitive binding response for a finite number of receptors on an extremely specific anti-analyte antibody between a set quantity of labelled versions of an analyte and a substantial portion of an unmarked sample analyte.North America was the largest region in the immunoassay market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main immunoassay product types are reagents and kits, analyzers or instruments, and software and services.A reagent is a material or product that can accelerate a reaction and is utilized in the majority of commonly used tests.The various specimens are blood, saliva, urine, and others applied to therapeutic drug monitoring, oncology, cardiology, endocrinology, infectious disease testing, autoimmune diseases and others. The end users are research and academic laboratories, home care settings, pharmaceutical and biotechnology companies and CROs, blood banks, hospitals and clinics, and clinical laboratories.The increasing numbers of infectious and chronic illnesses are expected to propel the growth of the immunoassay market in the coming future.Chronic illnesses are characterized generically as those that persist for a year or more, need continuous medical care, restrict everyday activities, or both.Infectious illnesses are ailments caused by organisms such as bacteria, viruses, fungi, or parasites.Numerous creatures inhabit and dwell on the human body.Several infectious illnesses can be transmitted from person to person.Immunoassay is employed to detect several infectious and chronic diseases.For instance, according to a report published by the National Institutes of Health (NIH), a US-based biomedical research agency, in 2023, in the United States, the number of people aged 50 and older with at least one chronic illness is predicted to rise by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Additionally, the number of people with multimorbidity would rise by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Therefore, the increasing number of infectious and chronic illnesses is driving the market.Product innovation is the key trend gaining popularity in the immunoassay market.Major companies operating in the immunoassay market are focused on developing innovative products to strengthen their position in the market.For instance, in November 2022, Getein Biotech Inc., a China-based biotechnological company involved in the manufacturing, sales, service, and research and development of in vitro diagnostic reagents and tools, launched MAGICL 6000 at MEDICA 2022. MAGICL 6000 is a portable, cutting-edge chemiluminescence immunoassay analyzer that is the best option for labs with mid- to high-workflow requirements for a one-step chemiluminescence solution. The instrument is extremely efficient and small, allows for completely automated operation, and has the quickest assessment frequency of any device of its size.In February 2021, Thermo Fisher Scientific Inc., a US-based company that operates in scientific instrumentation, reagents and consumables, and software services, acquired Mesa Biotech Inc. for an undisclosed amount. Through the acquisition, Thermo Fisher aims to enhance the benefits of molecular diagnostics at the point of care and grow production volume, generate cost reductions, and deliver much-needed diagnostics to market sooner and at a larger scale by integrating Mesa Biotech Inc.'s novel platform with its operational efficiency, access to raw materials, and current distribution and sales channels. Mesa Biotech Inc. is a US-based manufacturer of molecular diagnostic tests designed to treat infectious diseases.The countries covered in the immunoassay market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The immunoassay market research report is one of a series of new reports that provides immunoassay market statistics, including immunoassay industry global market size, regional shares, competitors with a immunoassay market share, detailed immunoassay market segments, market trends and opportunities, and any further data you may need to thrive in the immunoassay industry. This immunoassay market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________