Immunoassay Market Size Worth $45.1 Billion by 2030 at CAGR 5.2%: Grand View Research, Inc.

SAN FRANCISCO, June 2, 2022 /PRNewswire/ -- The global immunoassay market size is expected to reach USD 45.1 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.2% from 2022 to 2030. The introduction of PoC rapid tests and automated immunoassay analyzers is boosting the market growth. In addition, the rising number of chronic and infectious diseases is leading to high market growth.

Key Industry Insights & Findings from the report:

• In 2021, the Enzyme Immunoassays (EIA) technology segment held the largest revenue share as this technique is used for detecting specific antigens or antibodies in samples. This technique aids in the precise detection of chronic and infectious diseases.

• The rapid test technology segment held a significant revenue share in 2021 due to the rise in demand for early diagnosis.

• The infectious disease testing application segment dominated the market in 2021 due to the rise in the incidence of infectious diseases such as HIV, malaria, influenza, and the novel COVID-19.

• The clinical laboratories end-use segment is anticipated to grow at a rapid pace over the forecast period owing to the increasing establishment of diagnostic labs in key regions and the large number of tests being conducted by them.

• North America accounted for the largest revenue share in 2021. Well-established healthcare infrastructure and the easy availability of technologically advanced instruments in the U.S. are some of the leading factors fueling the growth of this regional market.

Get More Latest Industry Insights from 120 page market research report, "Immunoassay Market Size, Share & Trends Analysis Report By Product (Reagent & Kits, Analyzers/Instruments, Software & Services), By Technology (RIA, ELISA, Rapid Test), By Application, By End-use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Immunoassay Market Growth & Trends

According to the American Cancer Society, there were an estimated 16.9 million cancer patients/survivors in 2020. Around 1.8 million cancer cases were diagnosed in the U.S., according to the National Cancer Institute 2019 data. According to the American Cancer Society, nearly 606,880 deaths occurred due to cancer in the U.S. in 2019. Thus, the rise in the number of cancer cases being diagnosed is driving the demand for immunoassays. This is expected to boost the market growth in the coming years.

Furthermore, growing awareness regarding infectious diseases and preventive measures has led to a high demand for rapid diagnostic test products, thereby increasing sales. Based on a survey by the WHO on the World malaria report 2018, manufacturers reported sales of 276 million for lateral flow assays in 2017. It also reported that around 75.0% of malaria cases were diagnosed using lateral flow assays in sub-Saharan Africa in 2017.

Several smartphone-based devices and associated tools have emerged as next-generation point-of-care diagnostics or testing devices, thereby boosting the market growth. For instance, a smartphone application combined with the autonomous capillary microfluidic chip is used for the rapid testing of cardiac troponin I in myocardial infarction. This platform can be easily used in resource-limited settings, providing test results within 12 minutes. Thus, novel technological advancements are anticipated to further drive the market over the forecast period.

The first implementation of the Atellica immunoassay solutions with Aptio automation in the United States was announced by Siemens Healthcare GmbH in April 2018. The objective of this product was designed to promote advanced technological products in the U.S. In December 2020, Beckman Coulter, a Danaher business, introduced its first high-quality as well as throughput assay for the COVID-19 antigen detection, officially named Access SARS-CoV-2 Antigen assay. In July 2018, Cygnus Technologies and Gyros Protein Technologies collaborated to produce immunoassay to identify biotherapeutic toxins. The two companies' strategic alliance will primarily focus on offering bioanalytical solutions and increasing biotherapeutics manufacturing efficiencies.

Immunoassay Market Segmentation

Grand View Research has segmented the global immunoassay market on the basis of product, technology, application, end-use, and region:

Immunoassay Market - Product Outlook (Revenue, USD Million, 2018 - 2030)

• Reagents & Kits
• Analyzers/Instruments
• Open-ended Systems
• Closed-ended Systems
• Software & Services

Immunoassay Market - Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Radioimmunoassay (RIA)
• Enzyme Immunoassays (EIA) Rapid Test
• Chemiluminescence Immunoassays (CLIA)
• Fluorescence Immunoassays (FIA)
• Others

Immunoassay Market - Application Outlook (Revenue, USD Million, 2018 - 2030)

• Therapeutic Drug Monitoring
• Oncology
• Cardiology
• Endocrinology
• Infectious Disease Testing
• Autoimmune Diseases
• Others

Immunoassay Market - End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Blood Banks
• Clinical Laboratories
• Pharmaceutical and Biotech Companies
• Academic Research Centers
• Others

Immunoassay Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada

• Europe
• Germany
• U.K.
• Spain
• France
• Italy
• Russia

• Asia Pacific
• Japan
• China
• India
• South Korea
• Singapore
• Australia

• Latin America
• Brazil
• Mexico
• Argentina

• MEA
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Immunoassay Market

• Siemens Healthineers
• bioMérieux SA
• Abbott Laboratories
• Danaher Corporation (Beckman Coulter)
• Quidel Corporation
• Ortho Clinical Diagnostics
• Sysmex Corporation
• Bio-Rad Laboratories, Inc.
• Becton, Dickinson, and Company
• F. Hoffmann-La Roche AG
• Thermo Fisher Scientific, Inc.

Check out more related studies published by Grand View Research:

• Immunoassay Analyzers Market - The global immunoassay instruments/analyzers market was valued at USD 14.7 billion in 2015 and is expected to reach a value of USD 23.3 billion by 2024. The prime factors driving the immunoassay analyzers market growth include constant introduction of advanced products. In addition, growing clinical applications for investigation and diagnosis of various chronic and related infectious diseases is expected to drive the growth of the immunoassay instruments market.
• Sepsis Diagnostics Market - The global sepsis diagnostics market size is expected to reach USD 1.4 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.6% over the forecast period. The high prevalence of sepsis, the introduction of technologically advanced diagnostic systems, and increasing government initiatives are expected to propel market growth over the forecast period. Sepsis is a bloodstream disease that occurs as a result of a response to pathogenic microorganisms present in the blood. Patients suffering from this disease experience severe inflammation, which leads to prolonged hospitalization.
• Respiratory Syncytial Virus (RSV) Diagnostics Market - Global Respiratory Syncytial Virus (RSV) diagnostics market is expected to reach USD 1.2 billion by 2022, according to a new study by Grand View Research Inc. Increasing neonatal population suffering from respiratory conditions including RSV infections and supportive initiatives for diagnosis of new-borns by the healthcare providers are expected to be vital impact rendering drivers for RSV diagnostics market.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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