Immunoprotein Diagnostic Testing Market to Garner $18.38 Bn, Globally, by 2027 at 6.6% CAGR, Says Allied Market Research
- Rise in incidence of chronic and infectious diseases and advancements in technologies have boosted the growth of the global immunoprotein diagnostic testing market
PORTLAND, Ore., Oct. 1, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Immunoprotein Diagnostic Testing Market by Technology (Radioimmunoassay, Immunoturbidity Assay, Immunoprotein Electrophoresis, Enzyme-linked Immunosorbent assay and Others), Type (C-reactive Protein Diagnostic Test, Complement System Protein Diagnostic Test, Pre-albumin Diagnostic Test, Haptoglobin Diagnostic Test, Immunoglobulin Diagnostic Test, and Free Light Chain Diagnostic Test and Others), and Application (Autoimmune Disease Testing, Infectious Disease Testing, Allergy Testing, Endocrine Testing, Oncology Testing, and Toxicology Testing): Global Opportunity Analysis and Industry Forecast, 2020–2027". As per the report, the global immunoprotein diagnostic testing market was pegged at $10.13 billion in 2019, and projected to reach $18.38 billion by 2027, growing at a CAGR of 6.6% from 2020 to 2027.
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Major determinants of the market
Rise in incidence of chronic and infectious diseases and advancements in technologies have boosted the growth of the global immunoprotein diagnostic testing market. However, stringent regulations hamper the market. On the contrary, potential in the emerging economies and development of condition-specific assays and tests are expected to create opportunities for the market players in the future.
COVID-19 scenario:
- Due to lockdown across the globe, there is significant gap in supply and demand. Moreover, the supply chain has been disrupted.
- However, the demand for immunoprotein diagnostic testing is increasing as it could be used to diagnose cardiovascular and infectious diseases.
The enzyme-linked immunosorbent assay segment dominated the market
By technology, the enzyme-linked immunosorbent assay segment held the largest share in 2019, accounting for nearly two-thirds of the global immunoprotein diagnostic testing market. Moreover, the segment is expected to portray the highest CAGR of 6.9% during the forecast period, owing to growing use of immunoassays in cancer, POC IVD testing, infectious disease testing, therapeutic drug level monitoring, and the introduction of novel biomarkers.
The oncology testing segment to manifest the highest share
By type, the oncology testing segment is expected to manifest the highest CAGR of 8.0% during the forecast period, due to increasing number of cancer patients worldwide. However, the infectious disease testing segment held the largest share in 2019, contributing to more than one-fifth of the global immunoprotein diagnostic testing market, owing to higher prevalence of infectious diseases such as hepatitis B, hepatitis C, HIV-1, HIV-1/2, and human T-lymphotropic virus types I & II.
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North America held the lion's share
By region, the market across North America held the largest share in 2019, accounting for around two-fifths of the market, owing to increase in demand for quick diagnostic services to detect chronic diseases, ongoing trend of preventive healthcare, and rise in the number of drug abuse and allergy cases. However, the global immunoprotein diagnostic testing market across Asia-Pacific is projected to portray the highest CAGR of 7.7% during the forecast period, due to increase in the number of patients suffering from chronic diseases and improvement in healthcare facilities in the region.
Major market players
- Abbott Laboratories
- Bio-Rad Laboratories
- Abcam PLC
- Diasorin
- Danaher Corporation
- Ortho Clinical Diagnostics
- Enzo Life Sciences
- Siemens Healthcare
- Roche Diagnostics
- Thermo Fisher Scientific
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