Number of pages: 100 | Report Format: PDF | Published date: 29 September, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global immunodiagnostics market was pegged at ~US$ 20.7 billion in 2021 and is expected to witness a CAGR of ~7.40% during the forecast period.
Immunodiagnostic assay is a biochemical test, used to determine if a macromolecule or a small molecule is present or concentrated in a solution. Antigen: antibody specificity is the fundamental principle of immunologic testing. Numerous immunodiagnostic procedures exist which might be utilized to aid in diagnosing of neoplastic, endocrine, and infectious diseases as well as to measure blood drug levels. Numerous analytical benefits are offered by immunodiagnostics such as speed, efficiency, high throughput, and cost-effectiveness.
The primary drivers propelling the global immunodiagnostics market is the growing prevalence of chronic diseases such as cardiovascular diseases, cancer, gastrointestinal and infectious diseases such as HIV, hepatitis B etc. In addition, technological advancements are leading to development of advanced diagnostic kits which is further increasing awareness among population. However, strict regulatory scenarios can impede the growth of global immunodiagnostics market to certain extent.
The global immunodiagnostics market has been analyzed from four perspectives: application, technology, and region.
Immunodiagnostics Market by Application
According to application the global market for immunodiagnostics is grouped into oncology, endocrinology, hepatitis, retrovirus testing, GI stool testing, infectious disease testing and others. The oncology segment has dominated the global market. In oncology, immunodiagnostics offers a better understanding of how the immune system reacts when cancer transforms/advances. Additionally, using this technique ease the considerate about immunosurveillance. Other segments such as endocrinology and hepatitis can also benefit the market growth in the forecast period, as this technique offers a specific result, and relatively is convenient to use.
Immunodiagnostics Market by Technology
Based on technology, the global immunodiagnostics market is classified into fluorescent immunoassay, chemiluminescence immunoassay, radioimmunoassay, Enzyme-linked immunosorbent assay, and others. The immunofluorescence assays (IFAs) boost assay sensitivity by using a fluorescently labelled antibody that is detected with a fluorescence microscope. IFA testing allows the localization of the source of the positive signal and can be done on tissue slices or blood smears. IFA are commonly used to detect antibodies to infectious agents. As a significant rise is seen in infectious diseases the immunodiagnostics market is going to eventually rise. In ELISAs (enzyme linked Immunosorbent assay), an antibody is connected to an enzyme, which when exposed to a substrate, changes color hence, providing a better understanding of diagnosis. Additionally, radioimmunoassay is used in tests for cortisol, thyroid hormones, and cyclosporine, thus rising cases of this diseases are eventually going to increase the global immunodiagnostics market.
Immunodiagnostics Market by Region
Regionally, the global immunodiagnostics market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific has majority shares in the global market for immunodiagnostics. The growth in this segment is contributed by rising prevalence of many chronic diseases, increased approvals of many new products, and presence of reimbursement activities. Additionally, emerging geriatric population suffering from prolonged diseases increases necessity of frequent examination. The North America region is characterized by rising incidences of chronic diseases like cancer, gastrointestinal disorders, and infectious diseases, the availability of disease-specific immunodiagnostic tests, and improvements in immunodiagnostic technology all contributes to the market's expansion. The growth of European region is attributed by rising geriatric population suffering from chronic diseases, advances in technological advantages leading to introduction of advanced diagnostic systems.
Some of the prominent players operating in the global immunodiagnostics market are