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 product and service, the reagents and kits segment commanded the largest share of the market in 2017
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 immunoassay systems market. The large share of this segment can primarily be attributed to the requirement of the repeat purchase of kits and reagents, coupled with the increasing number of immunoassay tests being performed across the globe as a result of the rising incidence of chronic and infectious diseases.
By technology, the enzyme-linked immunosorbent assays (ELISA) segment accounted for the largest share of the market in 2017
On the basis of technology, the immunoassay systems market is segmented into ELISA, rapid tests, western blotting, enzyme-linked immunospot (ELISPOT), immuno-PCR, and other immunoassay technologies. The ELISA segment accounted for the largest share of the immunoassay systems market in 2017. The large share of this segment can primarily be attributed to the increasing use of immunoassay tests in cancer, infectious diseases, and therapeutic drug level monitoring.
The chemiluminescence immunoassays (CLIAs) segment led the immunoassay market in 2017
By platform, this market is classified into CLIAs, radioimmunoassays (RIAs), colorimetric immunoassays (CIs), fluorescence immunoassays (FIAs), and other platforms. The CLIAs segment accounted for the largest share of the immunoassay market in 2017. The large share of this segment can primarily be attributed to the low cost and high sensitivity of CLIA-based tests.
North America held the largest share of the market in 2017
Based on region, the immunoassay market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the market in 2017. The large share of this regional segment is attributed to the increasing incidence of chronic diseases and improved healthcare infrastructure.
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Key players in the immunoassay market include Roche (Switzerland), Abbott Laboratories (US), Siemens (Germany), Danaher Corporation (US), Sysmex Corporation (Japan), bioMérieux (France), Ortho Clinical Diagnostics (US), DiaSorin (Italy), QIAGEN (Netherlands), Thermo Fisher Scientific (US), Becton, Dickinson and Company (US), Merck (Germany), Bio-Rad Laboratories (US), Agilent Technologies (US), PerkinElmer (US), Quidel Corporation (US), Bio-Techne Corporation (US), and Mindray (China).