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Development of Novel Assays Vital for the European Immunoassay Diagnostics Market
Date:12/15/2008

LONDON, Dec. 15 /PRNewswire/ -- The immunoassay diagnostics market is in the late growth stage of the market lifecycle. It is being challenged by a number of factors including the commoditisation of tests, growing laboratory networks and the heightened popularity of molecular tests in areas like infectious testing. However, unmet needs in the market are propelling companies to develop novel assays and differentiate themselves to stay ahead of the competition.

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New analysis from Frost & Sullivan (http://www.drugdiscovery.frost.com)Strategic Analysis of the European Immunoassay Market, finds that the market earned revenues of $2.97 billion in 2008 and estimates this to reach $4.20 billion in 2015.

"The future of the European immunoassay diagnostics market depends on developing novel assays in areas such as cardiology, oncology and autoimmunity," notes Frost & Sullivan Industry Analyst Arun A.K. "Rapid and efficient tests to identify disease conditions are gaining enormous importance and will set the pace in the market."

The adoption of novel assays for critical testing areas is on the rise, compelling companies to identify new biomarkers and develop assays that are easy to perform. Companies are responding well to this challenge as more than 70 immunoassays are currently in various developmental stages.

However, the centralisation of non-STAT immunoassays, together with the formation of laboratory networks in Europe, is squeezing revenue returns in the market. This situation is intensifying competition in the already crowded marketplace.

"The market will experience increasing competition through 2015," cauti
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SOURCE Frost & Sullivan
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