Increase in prevalence of chronic and infectious diseases is a key factor driving market revenue growth

VANCOUVER, BC, CANADA, April 11, 2023 /EINPresswire.com/ -- The global immunoassay market size reached USD 39.72 Billion in 2021 and is expected to register a revenue CAGR of 3.9% during the forecast period, according to latest analysis by Emergen Research. Increase in prevalence of chronic and infectious diseases is a major factor driving market revenue growth. According to the International Diabetes Federation (IDF), in 2021 approximately 537 million were living with diabetes worldwide and the number is estimated to rise to 643 million by 2030. Immunoassays are often used in diabetology to measure HbA1c, C-peptide, insulin, and beta cell autoantibodies, which are vital indicators for diagnosis and categorization of diabetes mellitus. Important indicators for precise classification of type 1, type 2, and other specialized kinds of diabetes include autoantibodies against beta cell constituents.

The gross profits, revenue shares, sales volume, manufacturing costs, and the individual growth rates of these companies have also been ascertained in this section. Our team has accurately predicted the future market scope of the new entrants and established competitors using several analytical tools, such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment. The 250-page report by Emergen Research contains 194 tables and 189 charts and graphs. Anyone in need of a commercial, in-depth assessment of the global immunoassay market and comprehensive market segment analysis can benefit from our new research. With the latest research, you can estimate the entire immunoassay regional and global markets. To grow your market share, get financial analysis of the entire market and its various segments. We believe there is great potential for fast-growing energy storage technology in this industry. Find out how to leverage current and potential revenue streams in this area. Research also helps you make better strategic decisions, allowing you to formulate growth strategies, enhance competitive analysis, and improve business productivity.

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Competitive Landscape

 The report presents a holistic investigation of the Immunoassay business mechanism and growth-oriented approaches undertaken by the leading companies operating in this market. The report highlights the numerous strategic initiatives, such as new business deals and collaborations, mergers & acquisitions, joint ventures, product launches, and technological upgradation, implemented by the leading market contenders to set a firm foot in the market. Hence, this section is inclusive of the company profiles of the key players, total revenue accumulation, product sales, profit margins, product pricing, sales & distribution channels, and industry analysis.

Leading Players Profiled in the Report Include:

Siemens Healthcare GmbH, Biomérieux, Abbott, Becton Dickinson and Company, Beckman Coulter, Inc., Hologic, Inc., Ortho Clinical Diagnostics, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., and Thermo Fisher Scientific

Some Key Highlights From the Report

The reagents and kits segment accounted for a significant revenue share in 2021. Immunoassay kits identify compounds of interest by using immunological proteins, or antibodies. These molecules of interest might be antigens from bacteria or viruses, hormones, or antibodies. Multiplex immunoassays have expanded applications of immunoassay reagents and kits in a wide range of sectors including pharmaceutical businesses, biotechnology and life science firms, Food & Beverage (F&B) companies, and environmental monitoring,. In addition, demand for immunoassay testing kits is being driven by launch of molecular tests, as well as increase in reagent and kit sales.

The Enzyme-Linked Immunosorbent Assay (ELISA) segment accounted for a significant revenue share in 2021. ELISA employs a variety of antigen-antibody combinations, always incorporating an enzyme-labeled antigen or antibody, and enzyme activity is colorimetrically evaluated. These are simple to operate, need no specialized equipment, and both experienced lab personnel and research lab novices may rapidly master ELISA abilities. The test is most commonly used to detect or diagnose viral infection, particularly infection of blood-borne viruses, such as Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), and HIV. Increasing prevalence of these illnesses is expected to drive market revenue growth of this segment.

The North America market accounted for largest revenue share in 2021 due to significant investments in healthcare facilities. In addition, increasing incidences of chronic diseases, such as cancer, is also driving market revenue growth in this region. Moreover, the government is conducting various programs to raise public awareness of early diagnosis. For instance, National Diabetes Education Program (NDEP), which is conducted in collaboration between Centers for Disease Control and Prevention (CDC) and National Institutes of Health, aims to lower prevalence of prediabetes by educating population on various health implication of diabetes and related measures.

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Segmentation

Product Outlook (Revenue, USD Billion; 2019-2030)

Reagents and Kits

Instruments

Technology Outlook (Revenue, USD Billion; 2019-2030)

Radioimmunoassay (RIA)

Enzyme-Linked Immunosorbent Assay (ELISA)

Rapid Test

Fluoroimmunoassay (FIA)

Chemiluminescence Immunoassay (CLIA)

Others

Application Outlook (Revenue, USD Billion; 2019-2030)

Therapeutic Drug Monitoring

Oncology

Cardiology

Endocrinology

Infectious Disease Testing

Autoimmune Diseases

Others

The global Immunoassay market is classified into the following regions:

North America (the U.S., Canada)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Europe (the U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

The Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)

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Key Points Covered in This Section:

Regional contribution

Estimated revenue generation

Vital data and information about the consumption rate in all the leading regional segments

An expected rise in market share

Forecast growth in the overall consumption rate

Report Highlights:

Besides offering a vivid depiction of the global Immunoassay business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.

The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2030). 

The report scrutinizes the salient factors influencing the growth of the market in the near future.

The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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