The report "Immunoassay Market in terms of revenue was estimated to be worth $35.0 Billion in 2023 and is poised to reach $46.7 Billion by 2028, growing at a CAGR of 5.9% from 2023 to 2028 according to a new report by MarketsandMarkets™. The immunoassay market is driven by the increasing incidence of infectious and chronic diseases, increasing adoption of immunoassay-based POC testing and rapid testing, and introduction of innovative products by leading players operating in the immunoassay market. Growth in emerging countries and development of condition specific biomarkers and tests are anticipated to offer lucrative growth opportunities for the immunoassay market.

The immunoassay industry is poised for remarkable advancements in the near future. With rapid developments in biotechnology, automation, and data analytics, immunoassays are expected to become even more sensitive, specific, and accessible. This progress will not only revolutionize diagnostics and healthcare by enabling earlier disease detection and personalized treatments but also find applications in various sectors, including pharmaceuticals and environmental monitoring. The integration of cutting-edge technologies like microfluidics and artificial intelligence will streamline immunoassay processes, making them faster and more cost-effective. Furthermore, the industry will continue to contribute to global health by facilitating the monitoring of infectious diseases, autoimmune disorders, and cancer, making it an essential player in the ever-evolving landscape of modern medicine.

Download PDF Brochure:

Browse in-depth TOC on "Immunoassay Market”

307 – Tables

54 – Figures

394 – Pages

Key Market Players

The top players in this market are Abbott Laboratories (US), F. Hoffmann-La Roche (Switzerland), and Thermo Fisher Scientific, Inc. (US). These players hold leading positions in the market owing to their broad product offerings in the immunoassay market. These mentioned players have undertaken various organic and inorganic growth strategies such as product launches and approvals, collaborations, acquisitions, and agreements to retain their position in the market.

Request Free Sample Report:

DRIVER: Growth in the biotechnology and biopharmaceutical industries

The demand for immunoassay instruments and consumables is considerably high in the bio-pharma industries. Hence, growth in these industries is anticipated to drive the demand for immunoassay products during the forecast period. In these industries, the increase in the demand from end users has provided an opportunity to various companies to launch new products in the market, hence enabling product innovation. Besides, immunoassays are applied at many stages in biopharma and biotechnology industries’s from product development and manufacturing to quality control in production.

The biotechnology and pharmaceutical sectors have experienced various developments and changes in the past few years. Immunoassays have an extensive role in drug discovery and monitoring; ELISA and radioimmunoassay are utilized for the immunogenicity assessment of certain biologics such as adalimumab and infliximab.

OPPORTUNITY: Growth opportunities in emerging economies

Developing economies such as India, China, Taiwan, South Korea, South Africa, Brazil, and Turkey, are expected to offer growth opportunities for major players operating in the market. This can be attributed to the growing geriatric population, increasing prevalence of chronic and infectious diseases, improvement in the healthcare infrastructure, and increasing disposable income in these countries. Some of the major statistics related to the rising geriatric population and growing disease burden in developing economies have been mentioned below:

  • According to the National Development Council, the geriatric population of Taiwan will reach 19.9% in 2025, 23.9% in 2030, and 27.3% in 2035.
  • According to the 13th Five-year Plan on Development of Undertakings on Ageing and Old Age Support System by the State Council, the geriatric population of China will reach up to 255 million by 2020. The official website of the Central Government of China in 2017 highlighted the rise of the old-age dependency ratio up to 28%.

The Asia Pacific has emerged as a business-friendly hub due to relatively less stringent regulations and data requirements. This encourages biopharmaceutical and pharmaceutical companies to outsource their drug discovery activities to the APAC. Asian markets, especially China and India, have many contract research organizations (CROs) that offer drug discovery services for pharmaceutical and biotechnology companies.

The reagents & kits accounted for the largest share of the immunoassay market, by product segment, in 2022.

The global immunoassay market is segmented into analyzers and reagents & kits based on product. High consumption of consumables such as kits and reagents and their repeated purchases along with the increasing number of immunoassay tests performed across the globe, are the factors supporting the growth of the reagents & kits product segment.

The hospitals & clinics segment accounted for the largest share of the immunoassay market, by end user, in 2022.

The increasing prevalence of chronic and infectious diseases and the availability of advanced technologies for their detection have led to significant growth of the hospitals & clinics end user segment. The segment is also anticipated to register the highest growth rate during the forecast period, owing to better testing facilities.

North America is the largest regional market for immunoassay market.

The global immunoassay market has been segmented into five major regions—North America, Europe, the Asia Pacific, the Middle East & Africa, and Latin America. In 2022, North America dominated the global immunoassay market in 2022. The large share of the North American market is primarily driven by the increasing geriatric population and the subsequent prevalence of chronic diseases, and the easy accessibility of technologically advanced instruments.

Recent Developments of Immunoassay Industry:

  • In August 2023, Abbott received FDA approval for its Alinity h-series hematology system, enabling laboratories nationwide to run complete blood counts (CBC).
  • In July 2023, Siemens received FDA clearance and launched its Atellica CI Analyzer for immunoassay and clinical chemistry in the world’s major markets.
  • In June 2023, DiaSorin launched its CE marked LIAISON B.R.A.H.M.S MR-proADM assay to be used for the diagnosis of conditions, such as kidney diseases, sepsis, septic shock, lower respiratory and urinary tract infections.
  • In December 2022, QuidelOrtho received approval from Health Canada for use of the Quidel TriageTrue High-Sensitivity Troponin I(hsTnl) Test to aid in the diagnosis of myocardial infarction.
  • In October 2022, Roche received U.S. FDA granted Emergency Use Authorization (EUA) for its cobas MPXV for use on the cobas 6800/8800 immunoassay Systems.

Get 10% Free Customization on this Report:

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on TwitterLinkedIn and Facebook.

Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: [email protected]