Immunoprotein Diagnostic Testing Market Expected to Reach $27,290 Million, Globally, by 2023-Allied Market Research

PORTLAND, Oregon and PUNE, India, April 26, 2017 /PRNewswire/ --

According to a new report published by Allied Market Research, titled, "Immunoprotein Diagnostic Testing Market: Global Opportunity Analysis and Industry Forecast, 2016-2023", the global market was valued at $16,485 million in 2016, and is projected to reach $27,290 million by 2022, growing at a CAGR of 7.4% from 2017 to 2023. The enzyme-based immunoassay segment held one-third share of the total market in 2016.

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Immunoprotein is a protein that possesses immunological activity, which provides immunity against pathogenic organisms or substances. High prevalence of diseases such as cancer, cardiovascular diseases, allergies, urological disorders, and orthopedic diseases majorly drives the market. However, stringent regulatory framework with regards to immunoprotein diagnostic tests is projected to restrain the market growth during the forecast period.

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The global immunoprotein diagnostic testing market is segmented based on type, application, technology, and geography. Based on technology, the market is classified into radioimmunoassay, immunoturbidity assay, chemiluminescence assay, immunoprotein electrophoresis, enzyme-based immunoassay, and immunofluorescence assay. The enzyme-based immunoassay segment held the largest share of one-third in 2016, owing to wide application of enzyme-based immunoassay.

The immunoglobulin diagnostic test segment held the largest share in 2016, owing to the high adoption of immunoglobulin diagnostic test for the detection of excess or deficiency of immunoglobulins that provides information about the functioning of the immune system.

The infectious disease segment dominated the market in 2016, owing to the high incidence of infectious diseases and hence high usage of immunoprotein diagnostic testing for the detection of infectious diseases.

North America accounted for around two-fifths of the share in 2016, and is expected to dominate the market throughout the forecast period. This is attributed to increase in incidence of diseases due to rise in geriatric population, well-established healthcare systems, and increase in awareness among the population toward timely diagnosis of diseases. In addition, higher adoption rate for technologically advanced devices is anticipated to provide new growth opportunities for the key players in the market. However, Asia-Pacific is projected to grow at the highest during the analysis period, owing to rise in healthcare expenditure, increase in per capita income, growth in demand for healthcare services from large pool of patient population, and improvement in healthcare infrastructure.

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KEY FINDINGS OF THE IMMUNOPROTEIN DIAGNOSTIC TESTING MARKET STUDY: 

• By type, the immunoglobulin diagnostic tests segment dominated the market in 2016, and is projected to grow at the highest CAGR.
• By application, the infectious disease testing segment accounted for the highest share of two-sevenths in 2016.
• The U.S. was the major shareholder in the North America immunoprotein diagnostic testing market, accounting for seven-eighths share in 2016.
• Asia-Pacific is expected to show the highest growth rate during the analysis period.
• China is expected to grow at the highest CAGR in the Asia-Pacific immunoprotein diagnostic testing market.

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According to Hemali Narkhede, Manager, Healthcare Research at Allied Market Research, "Enzyme-based immunoassay is expected to dominate the global immunoprotein diagnostic testing market during the forecast period, owing to the high adoption and usage for validation of protein level for the detection of diseases."

The major players profiled in the global cancer immunotherapy market are Abbott Laboratories, Abcam PLC, Bio-Rad Laboratories, Danaher Corporation, Diasorin, Enzo Life Sciences, Ortho Clinical Diagnostics, Roche Diagnostics, Siemens Healthcare, and Thermo Fisher Scientific.

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SOURCE Allied Market Research