New York, USA, June 29, 2022 (GLOBE NEWSWIRE) — Immunoassay Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Immunoassay Market Information by Product, Technology, Indication, End-User, and Region – Forecast till 2030”, The Immunoassay market to reach USD 44 Billion and will capture a growth rate of 6.9% between 2022 and 2030.
Immunoassay Market Synopsis
Immunoassay refers to the procedure that involves the detection or measurement of a certain type of protein. A variety of antibody-antigen reactions are used for detecting the biological substance within the blood and fluid and blood.
Immunoassay test makes use of the binding of the antibodies to determine the presence of some types of substances, used extensively for detecting diseases. Immunoassay further offers details about the disease that helps plan the treatment procedure, for example, detecting estrogen receptors in breast cancer.
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Market Drivers:
Immunoassays are some of the most crucial components in disease diagnosis as well as treatment planning. As a result, the drastic increase in chronic conditions, like cardiovascular diseases, diabetes mellitus, and cancer, along with the emergence of a technologically innovative automated immunoassay for diagnosis purposes would favor the global market. Following the COVID-19 outbreak, the demand for effective diagnostic solutions has shot up considerably, which includes immunoassay analyzers, given its effectiveness in managing pandemics. To put it simply, the pandemic has been a great opportunity for immunoassay manufacturers in the global market. Players are focused on designing technically advanced analyzers, which enhances the market size to a large extent.
The global market experiences the frequent emergence of highly technically innovative products, such as compact portable analyzers and automated analyzers, which could be a significant growth booster in the future. Most of the companies undertake strategic initiatives in the immunoassay analyzers field, such as new product development, regional expansion, and mergers and acquisitions, to accommodate the unmet patient needs.
Market Restraints:
The government coupled with the regulatory authorities in numerous countries impose strict policies with respect to the commercialization of immunoassay instruments and consumables. It is proving to be a major challenge for the immunoassay developers active in the market.
Furthermore, technological issues brought on by immunoassay reagents and kits, including reduced detection rate of available antibodies, false results, and cross-reactivity of the antibodies will hamper the growth rate of the worldwide industry.
Browse In-depth Market Research Report (90 Pages) on Immunoassay: https://www.marketresearchfuture.com/reports/immunoassay-market-5841
Immunoassay Market COVID 19 Analysis
The COVID-19 outbreak’s significant impact has led to numerous severe repercussions on people’s health status across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. These factors will most likely be unfavorable for the immunoassay market in the years to come.
Immunoassay Market Segmentation
By Product
Major products in the market are analyzers and reagents and kits. Regents and kits can be segmented into ELISA Reagents & Kits, ELISPOT Reagents kits, Rapid Test Reagents & Kits, Western Blot Reagents & Kits and more. Analyzer types are Open-Ended Systems as well as Closed-Ended Systems. Reagents and Kits segment occupies the highest share in the immunoassay market.
By Specimen
Key specimens covered in the report are Urine, Saliva, Blood, and others. The immunoassay procedure involves using blood and fluid to determine the presence of antibodies.
By Application
Top applications of immunoassay include Oncology, Endocrinology, Blood Screening, Cardiology, Newborn Screening, Toxicology, Autoimmune Disorders, Infectious Diseases, Bone & Mineral Disorders, Allergy Diagnostics, and more. The infectious disease segment accounts for the highest share of 25% in the worldwide market.
By Technology
The major technologies covered in the report are Enzyme-Linked Immunospot, Western Blotting, Radio-Immuno Assay, Rapid Tests, ELISA, and more. The ELISA segment has the biggest share of 60% in the global industry.
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By End-User
The end-users in the worldwide industry are Research & Academic Laboratories, Blood Banks, Pharmaceutical and Biotechnology Companies & CROs, Clinical Laboratories as well as Home Care Settings Hospitals, and Clinics. The hospital segment with the largest share of more than 30% has taken the lead in the worldwide market.
Immunoassay Market Regional Insights
America prevails as the highest gainer in the global market for immunoassay analyzers, thanks to the blooming patient based and the strong government support. Rapid surge in the number of diabetics has raised the need for immunoassay analyzers in the region as well. Besides, the evolving lifestyle of the consumers combined with the rising healthcare spending also seem to be working favor of the American market.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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