The global Immunoassay Market is expected to exceed the market valuation of more than US$ 40 billion by 2027 expanding at a reasonable CAGR of 7 % during the forecast period (2021-2027). Immunoassays are quick and accurate tests that can be used on-site and, in the laboratory, to detect specific molecules.

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The demand for the Immunoassay market is increasing on account of the rising prevalence of chronic and infectious diseases, for instance, the outbreak of COVID-19. Furthermore, the rising geriatric population, which is more prone to chronic and infectious diseases, intensifies the market growth. As per the International Agency for Research on Cancer (IARC), 1 in 5 people develop cancer during their lifetime globally and 1 in 11 women die from cancer. Cancer cases are continuously increasing on account of the lifestyle changes, rise in the geriatric population, and socioeconomic risk factors. Breast cancer accounts for the highest prevalence in the case of women owing to the genetic mutations in the BRCA1 and BRCA2 gene, radiation exposure, obesity, and postmenopausal hormonal therapy.

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Based on Technology, the market is fragmented into Immunoassay, Rapid Tests, Enzyme-Linked Immunospot, Western Blotting, Radio-Immuno Assay, and Other Technologies. The Enzyme-Linked Immunospot segment dominated the market in 2020 and is expected to grow at lucrative growth. The enzyme-linked immunospot assay (ELISPOT) is gaining popularity for its ability to identify cellular immune responses against microbial antigens, such as HIV infection, transplantation, and steroid use. As per the UNAIDS, 37.7 million people globally were living with HIV in 2020. This technology offers several advantages over other methods such as reduced assay time, quantitative results, and the requirement of limited antisera for analysis.

Based on Specimen, the market is fragmented into Blood, Saliva, Urine, and Other Specimens. The Blood segment dominated the market in 2020 owing to the surging number of blood donations and the increasing incidence of chronic and infectious diseases worldwide.

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Based on End Users, the market is fragmented into Hospitals and Clinics, Clinical Laboratories, Pharmaceutical and Biotechnology Companies, Blood Banks, Research & Academic Laboratories, and Home Care Settings. The Hospitals and Clinics segment dominated the market in 2020 and is expected to grow at lucrative growth during the forecasted period owing to high testing volumes. In addition, the rise in the number of hospitals also drives market growth.

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For a better understanding of the market adoption of Immunoassay, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Immunoassay market on account of the technological advancements in the healthcare sector. Some of the major players operating in the market include Thermofisher Scientific, bioMérieux SA, Abbott Laboratories, Danaher Corporation (Beckman Coulter), Quidel Corporation, Ortho Clinical Diagnostics, Sysmex Corporation, Bio-Rad Laboratories, Inc., Becton, Dickinson, and Company, and F. Hoffmann-La Roche AG. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Global Immunoassay Market Segmentation

Market Insight, by Technology

·        Immunoassay

·        Rapid Tests

·        Enzyme-Linked Immunospot

·        Western Blotting

·        Radio-Immuno Assay

·        Other Technologies

Market Insight, by Specimen

·        Blood

·        Saliva

·        Urine

·        Other Specimens

Market Insight, by Applications

·        Infectious Diseases

·        Endocrinology

·        Oncology

·        Bone & Mineral Disorders

·        Cardiology

·        Blood Screening

·        Autoimmune Disorders

·        Allergy Diagnostics

·        Toxicology

·        Newborn Screening

·        Other Applications

Market Insight, by Product

·        Reagents & Kits

·        Analyzers

Market Insight, by End User

·        Hospitals and Clinics

·        Clinical Laboratories

·        Pharmaceutical and Biotechnology Companies

·        Blood Banks

·        Research & Academic Laboratories

·        Home Care Settings

Market Insight, by Region

·        North America Immunoassay Market

o   United States

o   Canada

o   Rest of North America

·        Europe Immunoassay Market

o   Germany

o   United Kingdom

o   France

o   Spain

o   Rest of Europe

·        Asia-Pacific Immunoassay Market

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·        Rest of World Immunoassay Market

Top Company Profiles

·        Thermofisher Scientific

·        bioMérieux SA

·        Abbott Laboratories

·        Danaher Corporation (Beckman Coulter)

·        Quidel Corporation

·        Ortho Clinical Diagnostics

·        Sysmex Corporation

·        Bio-Rad Laboratories, Inc.

·        Becton, Dickinson, and Company

·        F. Hoffmann-La Roche AG