The increasing incidence of chronic and infectious diseases, technological advancements in immunoassay instruments and introduction of novel automated systems, and growth in the biotechnology and biopharmaceutical industries are some the major factors driving the growth of this market.
According to the new market research report Immunoassay Market is expected to reach USD 27.15 Billion by 2023 from USD 20.19 Billion in 2018, at a CAGR of 6.1%.
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By platform, this market is classified into CLIAs, radioimmunoassays
(RIAs), colorimetric immunoassays (CIs), fluorescence immunoassays
(FIAs), and other platforms.
• On the basis product and service, this market is classified into reagents and kits, analyzers, and software and services. In 2017, the reagents and kits segment accounted for the largest share of the immunoassays market.
• On the basis of technology, the immunoassay market is segmented into ELISA, rapid tests, western blotting, enzyme-linked immunospot (ELISPOT), immuno-PCR, and other immunoassay technologies.
The immunoassays market is consolidated in nature due to the presence of a large number of players. Key players in the market include Abbott Laboratories (US), Roche (Switzerland), Siemens (Germany), Danaher Corporation (US), DiaSorin (Italy), Ortho Clinical Diagnostics (US), Thermo Fisher Scientific (US), QIAGEN (Netherlands), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Merck (Germany), Agilent Technologies (US), Quidel Corporation (US), PerkinElmer (US), Mindray (China), and Bio-Techne Corporation (US).
The key strategies followed by most companies in the immunoassay market are product launches and partnerships, collaborations, & agreements. These strategies accounted for the largest share of the overall growth strategies mapped from 2015 to 2018 (till March). Some of the leading players who adopted these strategies include Roche (Switzerland), Abbott Laboratories (US), Danaher Corporation (US), bioMérieux (France), and Sysmex Corporation (Japan).
In 2017, Roche was the leading player in the immunoassays market. This position of the company can be attributed to its wide product portfolio, which includes clinical chemistry and immunochemistry solutions, molecular diagnostic products, tissue diagnostic instruments, reagents, and kits. Under its flagship brand, Cobas, the company offers a variety of IVD instruments, reagents, and kits that are widely used by end users across the globe.
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Abbott Laboratories accounted for the second-largest share of the immunoassay market in 2017. With the acquisition of Alere, Inc. (US) in 2017, the company was able to enhance its presence in the immunoassays market. With the completion of this acquisition, Abbott strengthened its diagnostics portfolio and established itself as a leading player in the point-of-care testing and immunoassay market.