Immunoassay Market Drives Growth in the Biotechnology & Biopharmaceutical Industries

Market growth influenced due to following factors-

• Technological advancements of immunoassay products.
• Technological advancements in immunoassay instruments and introduction of novel automated systems.
• Growth in the biotechnology and biopharmaceutical industries.

Global market size-

According to market research report Immunoassay Market is expected to reach $39.0 billion by 2026, at a CAGR of 6.6%. 

Leading Players-

Key players in the immunoassay market include Roche (Switzerland), Abbott Laboratories (US), Siemens (Germany), Danaher Corporation (US), Sysmex Corporation (Japan), bioMérieux (France), Ortho Clinical Diagnostics (US), DiaSorin (Italy), QIAGEN (Netherlands), Thermo Fisher Scientific (US), Becton, Dickinson and Company (US), Merck (Germany), Bio-Rad Laboratories (US), Agilent Technologies (US), PerkinElmer (US), Quidel Corporation (US), Bio-Techne Corporation (US), and Mindray (China). 

Top Market Segments-

• In 2020, reagents & kits accounted for the largest share of the immunoassay market and is also expected to grow at the highest CAGR during the forecast period.
• ELISA segment account for the largest share of the immunoassay market in 2020.
• Blood account for the largest share and are expected to grow at the highest CAGR during the forecast period.
• Infectious diseases account for the largest share of the immunoassay market.
• Hospitals & clinics account for the largest share of the immunoassay market in 2020.

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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 immunoassay 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 immunoassay market well established.

However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. Emerging APAC economies such as China, India and South Korea are expected to see significant growth due to their expanding geriatric population, rising prevalence of chronic diseases, improving healthcare technology and the increasing disposable income.