Immunoassay Analyzers Market Revenue Analysis By Product (Chemiluminescence, Immunofluorescence Analyzers, Radioimmunoassay, Elisa), By Application (Oncology, Infectious Disease Testing, Autoimmune Disease), And Segment Forecasts To 2024

Report Overview

The global immunoassay analyzers market was valued at USD 14.7 billion in 2015 and is projected to grow at a CAGR of 5.11% over the forecast period. The growth of the immunoassay analyzers market is attributed to rising demand for immunoassay in order to diagnose and detect microorganism based infections and diseases coupled with escalating need for controlling and suppressing the prevalence of major diseases.

Global Immunoassay Analyzers Market, 2015 (USD Million)

In addition, constantly rising prevalence of chronic disease conditions, such as cancer, autoimmune disorders, etc., are some of the major factors augmenting the use of immunoassay analyzers.

Application Insights

Increasing cross country migrations, and unhealthy sanitary habits are spurring the onset of infectious diseases. In addition, genetic mutations in viruses and bacteria resulting in drug resistance are escalating the incidences of infectious diseases across the world. As a result, demand for diagnosis of infectious diseases is constantly rising. In addition, initiatives taken by governments to limit the hospital acquired infections is fueling the demand for diagnosis of these diseases. Affordable Care Act is one such example of the government initiative impacting the spread of infectious diseases. High prevalence of infectious diseases coupled with government initiatives resulting in adoption of diagnostic measures led to the largest market share of the segment among other applications.

Cancer Diagnostics Analyzers Instruments Market, 2015 - 2024 (USD Million)

Prevalence and incidence of cancer cases are taking place globally, thus the application of immunoassay analyzers for early diagnosis and monitoring of cancer is significant. Hence, the oncology segment is expected to grow with CAGR over 11% from 2016 to 2024.

Product Insights

The biotechnology and pharmaceutical companies are investing heavily in R&D for development of innovative products to remain competent in the industry. Growth in R&D projects is propelling the demand for consumables including reagents and accessories. Thus, the consumables segments dominated the industry with the largest market share of around 73% in 2015. This segment is anticipated to lead the industry throughout the forecast period with the fastest CAGR of 5.5%. Significant growth of the consumables segment is mainly attributed to repeat purchase resulting in revenue generation for the segment. Advancement in the sector with the introduction of improved and user-friendly products such as portable kits and paper-based electrochemical devices is supporting the growth of the segment.

Enzyme-linked Immunoassay (ELISA) accounted for the second largest market share after consumables due to high sensitivity and wide application in a number of diagnostic tests. However, introduction of high throughput techniques and automation of screening processes is driving the demand for chemiluminescence assays. As a result, the segment is expected to grow at a significant growth rate from 2016 to 2024.

Regionals Insights

In 2015, North America accounted for the maximum revenue share of 38.0% and was closely followed by Europe. The largest share of North America was mainly attributed to commercial availability of products with advanced technologies and the high adoption rate of these products. In addition, the presence of giant players in the country is resulting in revenue generation for the U.S.

Asia Pacific region is expected to witness the fastest growth at a CAGR of 7.0% from 2016 to 2024. Japan is one of the leading countries with strong technological developments and higher usage of immunoassay testing for various applications. In addition, China is contributing to this growth to a large extent.

Asia Pacific Immunoassay Analyzers Market, USD Million, 2015 & 2024

In addition, booming medical tourism industry in the region is expected to fuel the demand for immunoassays in the countries such as Japan, China, Malaysia, Thailand, and India, Presence of skilled labor at affordable cost and advanced manufacturing infrastructure is resulting in a shift of manufacturing facilities of major pharmaceutical players to the Asia Pacific region. Thus, rapidly growing number of manufacturing facilities in the region is boosting the growth of the market in Asia Pacific.

Market Share

International players competing with each other in this industry include but are not limited to bioMerieux S.A.; Abbott Laboratories; Roche Diagnostics and Siemens Healthcare GmbH. These companies have gained the advantage of being the top players in the industry due to high R&D expenditure and introduction of automated laboratory systems. Other players operating in the market include Becton Dickinson & Company; Bio Rad Laboratories. Inc.; Beckman Coulter. Inc. and others.

Immunoassay Analyzers Market Report Scope

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Market Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the industry trends in each of the sub-markets from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the immunoassay analyzers market on the basis of product, application, and region:

• Product Outlook (Revenue in USD Million, 2014 - 2024)

  • Chemiluminescence immunoassay

  • Immunofluorescence analyzers

  • Radioimmunoassay

  • Enzyme-linked Immunoassay

  • Consumables & Accessories

• Application Outlook (Revenue in USD Million, 2014 - 2024)

  • Therapeutic drug monitoring

  • Oncology

  • Cardiology

  • Endocrinology

  • Infectious disease testing

  • Autoimmune disease

• Regional Outlook (Revenue in USD Million, 2014 - 2024)

  • North America

    • The U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa

    • South Africa

Immunoassay Instruments/Analyzers Market Report Scope