Immunoassay Market to Value US $28.61 Bn by 2026
Rise in awareness of biomarkers for various chronic diseases has driven industry experts and researchers to develop new assays to expand the applications of immunoassay analyzers. Development in genomics and proteomics has expanded the database of biomarkers used by industry players to develop new assays that cascade the onset of a disease or disorder. For example, there has been a development of vitamin D deficiency testing chemiluminescence assay, which was earlier diagnosed through manual ELISA methods. Key players are investing in the development of novel immunoassays in the infectious disease domain with the help of the growing database on genetics and biomarkers of various infectious pathogens.
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Though new molecular diagnostics tests are being developed for infectious diseases, they lack high throughput and short test time features, which make immunoassay analyzers, such as, ELISA, CLIA, and
In terms of end-user, the hospitals & diagnostic laboratories segment is projected to dominate the global immunoassay market, expanding at a CAGR of 6.4% during the forecast period. A large number of clinical diagnostic tests are performed in hospital and diagnostic laboratories for detection of various diseases. Prominent market share of hospitals and diagnostic laboratories can be attributed to the large base of hospitals and diagnostic laboratories across the globe. Moreover, rapidly increasing number of hospitals and diagnostic laboratories in emerging countries, expansion of laboratory services, and consolidation among health care institutions in developed countries are projected to drive the segment during the forecast period.
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The blood banks segment accounted for the second-leading share of the global immunoassay market in 2017. Rise in demand for blood and blood products in health care and life sciences industries had led to the significant share of the segment. Epidemic outbreaks and increase in incidence of infectious diseases have boosted the adoption of automated immunoassay analyzers in blood banks. Stringent regulations regarding quality of IVD tests and demand for patient safety are projected to boost the growth of the segment during the forecast period.
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