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.
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.
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.
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.
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.
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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:
Chemiluminescence immunoassay
Immunofluorescence analyzers
Radioimmunoassay
Enzyme-linked Immunoassay
Consumables & Accessories
Therapeutic drug monitoring
Oncology
Cardiology
Endocrinology
Infectious disease testing
Autoimmune disease
North America
The U.S.
Canada
Europe
UK
Germany
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
Middle East and Africa
Report Attribute |
Details |
Market size value in 2020 |
USD 19.5 billion |
Revenue forecast in 2024 |
USD 23.3 billion |
Growth Rate |
CAGR of 5.11% from 2016 to 2024 |
Base year for estimation |
2015 |
Historical data |
2014 |
Forecast period |
2016 - 2024 |
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Revenue in USD Million & CAGR from 2016 to 2024 |
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Revenue forecast; company share; competitive landscape; growth factors and trends |
Segments covered |
Application, product, region |
Country scope |
U.S.; Canada; Europe; UK; Germany; Japan; China; Brazil; Mexico; South Africa |
Key companies profiled |
bioMerieux S.A.; Abbott Laboratories; Roche Diagnostics; Siemens Healthineers; Diasorin S.p.A.; Beckman Coulter, Inc.; Bio-Rad Laboratories Inc.; Becton Dickinson and Company; Sigma Aldrich.Co. LLC. |
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b. The global immunoassay analyzers market size was estimated at USD 18.5 billion in 2019 and is expected to reach USD 19.5 billion in 2020.
b. The global immunoassay analyzers market is expected to grow at a compound annual growth rate of 5.1% from 2016 to 2024 to reach USD 23.3 billion by 2024.
b. North America dominated the immunoassay analyzers market with a share of 28.9% in 2019. This is attributable to commercial availability of products with advanced technologies and high adoption rate of these products.
b. Some key players operating in the immunoassay analyzers market include bioMerieux S.A.; Abbott Laboratories; Roche Diagnostics; Siemens Healthineers; Diasorin S.p.A.; Beckman Coulter, Inc.; Bio-Rad Laboratories Inc.; Becton Dickinson and Company; and Sigma Aldrich.Co. LLC.
b. Key factors that are driving the market growth include 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.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
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