What Has Been the Growth of the Immunoassay Market So Far?
The immunoassay market has seen considerable growth due to a variety of factors.
• Over the past few years, the size of the immunoassay market has seen robust expansion. Projected growth from $35.81 billion in 2024 to $37.63 billion in 2025 suggest a compound annual growth rate (CAGR) of 5.1%. The historic growth pattern can be traced back to factors such as disease prevalence, an aging population, outbreaks of infectious diseases, point-of-care testing, and increased funding for research.
What Are the Future Growth Projections for the Immunoassay Market By 2029?
The Immunoassay market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the immunoassay market to experience substantial growth in the coming years. The market's value is predicted to reach $50.12 billion by 2029, with a compound annual growth rate (CAGR) of 7.4%.
The growth anticipated over the forecast period is linked to various factors such as personalized medicine, burgeoning markets in developing countries, preparation for pandemics, cancer diagnostics, and a shift toward home-based testing. Key trending elements during the forecast period comprise regulatory harmonization initiatives, multipurpose immunoassays, tailored assay services, collaboration with wearable technology, and assay miniaturization.
What Are The Core Factors Supporting Growth In The Immunoassay Market?
The rise in infectious and chronic diseases is anticipated to fuel the expansion of the immunoassay market in the forthcoming period. Chronic illnesses, usually lasting a year or more, requiring ongoing medical attention, limiting daily activities, or both, come in various forms. Infectious diseases, on the other hand, are caused by organisms like bacteria, viruses, fungi, or parasites. There exists a variety of these organisms living on the human body. It's important to note that these infectious diseases can also be spread from one person to another. Immunoassay is a method that is used to diagnose numerous infectious and chronic diseases. For example, a report authored by the National Institutes of Health (NIH), a biomedical research organization based in the US, forecasted that in 2023, there would be a 99.5% increase in the population aged 50 and above suffering from at least one chronic disease in the United States, rising from 71.522 million in 2020 to 142.66 million by 2050. Similarly, the number of patients with multiple diseases is projected to jump by 91.16%, from 7.8304 million in 2020 to almost 14.968 million by 2050. Hence, the market is seeing robust growth due to the escalating number of infectious and chronic diseases.
What Are The Major Segments Within The Global Immunoassay Market?
The immunoassay market covered in this report is segmented –
1) By Product: Reagents And Kits, Analyzers Or Instruments, Software And Services
2) By Specimen: Blood, Saliva, Urine, Other Specimens
3) By Application: Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Disease Testing, Autoimmune Diseases, Other Applications
4) By End User: Research And Academic Laboratories, Home Care Settings, Pharmaceutical And Biotechnology Companies And CROs, Blood Banks, Hospitals And Clinics, Clinical Laboratories
Subsegments:
1) By Reagents And Kits: ELISA Kits, Rapid Test Kits, Control Reagents, Assay Development Reagents
2) By Analyzers Or Instruments: Automated Analyzers, Point-Of-Care Testing Devices, Microplate Readers, Luminometers
3) By Software And Services: Data Management Software, Analytical Software, Support And Maintenance Services, Consulting Services
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Which Trends Are Expected To Transform The Immunoassay Market?
The primary trend gaining traction in the immunoassay market is product innovation. Major players in this domain are concentrating their efforts on the creation of novel products to consolidate their market standing. For instance, Getein Biotech Inc., a biotechnological entity from China specializing in the manufacture, sale, service, and R&D of in vitro diagnostic reagents and instruments debuted their product MAGICL 6000 at MEDICA 2022 in November of the same year. MAGICL 6000 is a state-of-the-art, compact chemiluminescence immunoassay analyzer that is optimal for laboratories with moderate to high workflow demands in need of a one-step chemiluminescence solution. Featuring complete automation, high efficiency, and the fastest evaluation frequency for any device in its class, the analyzer is very compact.
Who Are the Key Players In The Immunoassay Market?
Major companies operating in the immunoassay market include:
• Siemens Healthineers GmbH
• bioMérieux
• Abbott
• Beckman Coulter Inc.
• Quidel Corporation
• Ortho Clinical Diagnostics
• Sysmex Corporation
• Bio-Rad Laboratories Inc.
• Becton Dickinson and Company
• 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-Techn
• DiaSorin S.p.A
• Meso Scale Diagnostics LLC
• QIAGE
• Randox Laboratories Ltd.
• Shenzhen Mindray Bio-Medical Electronics Co Ltd
• Danaher Corporation
• Hologic Inc.
• Tecan Trading AG
• Eurofins Scientific
• Abcam plc
• Enzo Biochem Inc.
• Luminex Corporation
• Quanterix Corporation
• Roche Diagnostics
• ZEUS Scientific Inc.
What Is The Most Dominant Region In The Immunoassay Market?
North America was the largest region in the immunoassay market in 2024. Asia-Pacific is expected to be the fastest-growing region in the immunoassay market report during the forecast period. The regions covered in the immunoassay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
