Immunoassays are accurate and quick tests that can be used in a laboratory or on-site in order to measure the concentration or presence of an analyte. The analyte can be antibodies or large proteins produced as a result of small molecule or an infection. Various common technologies employed by immunoassays include enzyme linked fluorescence, immunofluorescence, chemiluminescent immunoassay, enzyme-linked immunosorbent assay (ELISA), radioimmunoassay and other similar techniques. The global immunoassay market is expected to witness a lucrative growth during the forecast period owing to increasing incidences of infectious and chronic devices, rising ageing population is influencing the growth in the medical device market, increasing development of novel assays in various autoimmune diseases such as oncology and cardiology, and increasing application in diagnosing drug monitoring tests, toxicology testing, infectious diseases and detection of cancer biomarkers are also expected to further fuel the growth of immunoassay market in the next seven years. Furthermore, rising global demand for non-invasive diagnostics techniques, growing need of reagents, analytical techniques and sensitive assays, growing trend like high-growth home sensitive market, accessible wide range of reagents, identification and introduction of novel biomarkers are further expected to boost the growth immunoassay market throughout the forecast period.
The global immunoassay market is segmented on the basis of type of technology, application, product and services and end-user. On the basis of type of technology, the immunoassay market is divided into Colorimetric immunoassay (CI), Fluorescence immunoassay (FIA), Chemiluminescence immunoassay (CLIA), Radioimmunoassays (RIA), Enzyme-linked immunoSpot (ELISPOT) assay, Rapid test and Western blot tests. Enzyme-linked immunoSpot (ELISPOT) assay accounted for the largest market share in 2014 due to its high sensitivity, cost benefits and long term presence in the global immunoassay market. However, Chemiluminescence immunoassay (CLIA) is expected to grow at a significant rate in the next seven years which is attributed for by automation and high-throughput techniques offered by CLIA in the global market. Products and services in the immunoassay market are ELISA reagents, PCR reagents, Radioimmunoassay (RIA) reagents, ELISPOT reagent, western blot reagents and rapid blot reagents. Immunoassay market by application is divided into therapeutic drug monitoring, oncology, cardiology, endocrinology, infectious disease testing, drugs of abuse testing and autoimmune disorders. The infectious disease segment accounted for the largest market share in the immunoassay market 2014 due to its increasing application in the diagnosis of infectious diseases. While oncology segment is expected to be the fastest growing segment owing to increasing incidences of cancer in the global population and technological developments such as innovative wide arrays for cancer biomarkers. The end users in the immunoassay market include blood banks, hospitals, blood banks, academic research centres, biotechnology and pharmaceutical companies, patient self-testing, ambulatory centers, and physicians’ offices. Increasing healthcare and personal care spending in the global population, rising demand for Lateral flow tests owing to its high-sensitivity, accuracy, easy and convenient access, increasing demand for rapid test result and immediate medical information, effective and efficient replacement conventional technologies (microarrays) and increasing drug discovery applications demanding next generation sequencing technology are expected to drive market demand for immunoassay through to the 2022.
The geographical analysis of immunoassay market divides it into North America, Europe, Asia-Pacific, Latin America and MEA. In 2014, North America accounted for the largest market share in 2014 owing to increasing application of immunoassay techniques in cancer research, increasing adoption of low cost and compact immunoassay instruments in clinical diagnostics and research laboratories, and increasing quality of infrastructure for laboratory and clinical research. Emerging economies such as China and India in the Asia Pacific region are expected to grow at a significant rate throughout the forecast period. This expected growth is attributed for by increasing development and production of new biologics, vaccines, and drugs, expanding medical treatment for infectious and chronic diseases, huge number of investment opportunities in these immature markets, increasing number of diagnostics laboratories in the region, increasing government and corporate investment in the pharmaceutical and biotechnology sector, increasing median age of the population and increasing focus on attracting international and domestic players in the market. The global immunoassay market is highly competitive owing to emergence of new entrants in the market and the presence of well established firms. The key participants in the global immunoassay market include Roche Diagnostics, bioMerieux, Siemens Healthcare, DiaSorin S.p.A, Thermo Fisher Scientific and Abbott Laboratories.
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