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Immunoassays Market Worth $19.1 Billion by 2018
Date:10/29/2013

DALLAS, October 29, 2013 /PRNewswire/ --

The "Immunoassay Market [Technology (Enzyme, Fluorescent, Chemiluminescence, Radioimmunoassay), Analyzers & Reagents, Applications (Infectious Diseases, Cancer, Endocrinology, Cardiology), End Users (Hospitals, Laboratory, Academics)] - Global Forecast to 2018", provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global immunoassays market along with the estimates and forecasts of the revenue and share analysis.

Browse 118 market data tables with 86 figures spread through 421 pages and in-depth TOC on "Immunoassay Market [Technology (Enzyme, Fluorescent, Chemiluminescence, Radioimmunoassay), Analyzers & Reagents, Applications (Infectious Diseases, Cancer, Endocrinology, Cardiology), End Users (Hospitals, Laboratory, Academics)] - Global Forecast to 2018".

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The global Immunoassays Market is segmented by technology, application, product (analyzers and reagents), and end user. The global Immunoassays Market, by technology, is further segmented into enzyme immunoassays, fluorescent immunoassays, chemiluminescence immunoassays, radioimmunoassays, and others. Enzyme immunoassays accounted for the largest share of the global immunoassays market in 2012, owing to their long-term presence and high sensitivity. However, the chemiluminescence Immunoassays Market will see the highest growth in the next five years, which is attributed to the high-throughput and automation offered by CLIAs.

On the basis of application, the Immunoassays Market has segments like oncology, infectious diseases, cardiology, bone and mineral, endocrinology, autoimmunity, toxicology, hematology (anemia), neonatal screening, and others. The infectious diseases segment commanded the largest share of 35.2% of the Immunoassays Market in 2012 due to the high specificity of immunoassays in diagnosing these diseases. Oncology will be the fastest-growing application owing to the high prevalence of cancer diseases worldwide and the development of a wide array of cancer biomarkers.

The Americas is the largest revenue generator for immunoassays, followed by Europe. Both markets have reached their maturity phase of growth and are estimated to register mid single-digit growth rates for the next five years. Asia-Pacific and LATAM are also expected to grow at a rapid pace during the analysis period owing to the urbanization, huge investment opportunities in these Immature Markets, and the growing numbers of diagnostic laboratories in these regions. The growth of the Immunoassays Market will mainly be driven by countries like China and India that provide a large population base for companies. Moreover, increasing healthcare spending and government initiatives will propel the Immunoassays Market in these countries.

The immunoassays segment contributes about one-fourth to the IVD market and is valued at $13.0 billion in 2013. Immunoassays are characterized by high specificity, sensitivity, and low costs. It is estimated to be the second-fastest growing sector of IVD after molecular diagnostics. The Immunoassays Market will be driven by factors such as growing incidences of chronic and infectious diseases, increasing aging population, ongoing technological innovations, increasing demand for non-invasive diagnostic tools and techniques, and the identification and introduction of novel biomarkers. The availability of novel tests based on condition-specific markers and increasing adoption of immunoassay tests in emerging countries are also factors that exhibit growth opportunities for the Immunoassays Market. There is also an increasing demand for Lateral flow (LF) tests due to the need for immediate medical information and the demand for rapid test results, easy and convenient access, accuracy, and sensitivity. Thus LF tests are driving the Immunoassays Market.

On the other hand, factors such as the increasing commoditization of certain immunoassays, stringent regulatory approvals, increasing pricing pressures on leading players, and reduction in healthcare budget will restrict the growth of the market.

Roche Diagnostics (Switzerland), Siemens Healthcare (Germany), Abbott Laboratories (U.S.), Danaher Corporation (U.S.), Ortho Clinical Diagnostics (U.S.), Alere, Inc. (U.S.), Sysmex Corporation (Japan), and DiaSorin S.P.A. (Italy) are the key industry participants. The Immunoassays Market is dominated by established players and is consolidated, with the top 5 players occupying more than 80% of the market. The market offers huge barriers for new entrants as the industry demands high capital investments for R&D and testing and manufacturing of products. Moreover, companies have to follow stringent regulations to get product approvals in various countries.

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