Market growth influenced due to following factors-
- Growth in the biotechnology and biopharmaceutical industries.
- Surging incidence of chronic and infectious diseases.
- Ttechnological advancements of immunoassay products, and their massive adoptions.
Global market size-
According to market research report Immunoassay Market is expected to reach $39.0 billion by 2026 from, at a CAGR of 6.6% during the forecast period.
Leading Players-
The global immunoassay market is consolidated. The prominent players operating in this market include Danaher (US), Thermo Fisher Scientific (US), Abbott Laboratories (US) and Roche (Switzerland).
Top Market Segments-
Based on technology, the market is segmented into ELISA, rapid tests, western blotting, radioimmunoassays, ELISPOT and other technologies. ELISA accounted for the largest share of the market in 2020. The large share of this segment can be attributed the massive consumption of ELISA in the diagnosis of cancer, infectious diseases, and other chronic complications.
Based on the product, the immunoassay market is segmented into reagents & kits and analyzers. In 2020, the reagents & kits segment accounted the largest share of the market. This segment is also expected to register the highest CAGR during the forecast period. The large share of this segment is attributed to their repetitive purchase and massive consumption for various diagnostic purposes.
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Geographic Overview -
The immunoassay market is segmented into four major regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America was the largest regional market for market in 2020. The large share of the North American market can be attributed to the increasing per capita healthcare expenditure and technologically advanced healthcare infrastructure which makes the regional market well established.