Immunoassay Growth Forecast 2025-2034: Trends, Opportunities, and Key Insights You Need to Know
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What Factors Are Driving the Anticipated Growth Rate of the Immunoassay Market Through 2034?
In recent times, there has been significant growth in the immunoassay market. The market size, which stood at $35.81 billion in 2024, is projected to reach $37.63 billion in 2025, with a compound annual growth rate (CAGR) of 5.1%. Factors such as disease prevalence, an aging populace, outbreaks of infectious diseases, point-of-care testing, and augmented research funding have contributed to this growth during the historic period.
The immunoassay market is forecasted to experience significant expansion in the coming years, reaching a total value of $50.12 billion by 2029 with a compound annual growth rate (CAGR) of 7.4%. This predicted growth for the forecast period is attributed to factors such as personalized medicine, growth in emerging markets, readiness for pandemics, cancer diagnostics, and the shift toward home-based testing. Key trends expected during this forecast period comprise efforts towards regulatory harmonization, multipurpose immunoassays, bespoke assay services, integration with wearable technology, and the miniaturization of assays.
What Drivers Are Shaping the Growth of the immunoassay Market?
The rise in cases of infectious and chronic diseases is anticipated to fuel the expansion of the immunoassay market in the upcoming years. Chronic diseases are generally defined as conditions that last for more than a year, require ongoing medical attention, limit daily activities, or both. Infectious diseases are disorders brought on by organisms such as bacteria, viruses, fungi, or parasites. Various creatures live on and within the human body. Many infectious diseases can be spread from one person to another. Immunoassay is used to identify many infectious and chronic diseases. For example, a study released by the National Institutes of Health (NIH), a US-based biomedical research institution, in 2023, estimates that the number of Americans aged 50 and older with at least one chronic disease will jump by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Moreover, the population with multimorbidity is projected to increase by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. As such, the rising prevalence of infectious and chronic diseases is a key driver for the market.
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Who Are the Top Companies Driving Innovation and Growth in the Immunoassay Market?
Major companies operating in the immunoassay market include:
• Siemens Healthineers GmbH_x000D_
• bioMérieux_x000D_
• Abbott_x000D_
• Beckman Coulter Inc._x000D_
• Quidel Corporation_x000D_
What Key Trends Are Currently Impacting the Immunoassay Market’s Development?
A rising trend in the immunoassay market is product innovation, with major market players focusing on creating new and improved products in order to solidify their market standing. For example, Chinese biotech company, Getein Biotech Inc., known for their work in the manufacture, sales, service, and R&D of in vitro diagnostic reagents and devices, introduced the MAGICL 6000 at MEDICA 2022 in November of the same year. This portable, advanced chemiluminescence immunoassay analyzer is an ideal choice for laboratories needing a one-step chemiluminescence solution due to their high workflow. Despite its compact size, the instrument boasts complete automation, top-notch efficiency, and holds the record for the fastest assessment frequency amongst devices in its category.
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What Are the Core Categories and Segments in the Immunoassay Market Driving Demand and Growth?
The immunoassay market covered in this report is segmented –
1) By Product: Reagents And Kits, Analyzers Or Instruments, Software And Services
2) By Specimen: Blood, Saliva, Urine, Other Specimens
3) By Application: Therapeutic Drug Monitoring, Oncology, Cardiology, Endocrinology, Infectious Disease Testing, Autoimmune Diseases, Other Applications
4) By End User: Research And Academic Laboratories, Home Care Settings, Pharmaceutical And Biotechnology Companies And CROs, Blood Banks, Hospitals And Clinics, Clinical Laboratories
Subsegments:
1) By Reagents And Kits: ELISA Kits, Rapid Test Kits, Control Reagents, Assay Development Reagents
2) By Analyzers Or Instruments: Automated Analyzers, Point-Of-Care Testing Devices, Microplate Readers, Luminometers
3) By Software And Services: Data Management Software, Analytical Software, Support And Maintenance Services, Consulting Services
Which Geographical Regions Are Pioneering Growth in the Immunoassay Market?
North America was the largest region in the immunoassay market in 2024. Asia-Pacific is expected to be the fastest-growing region in the immunoassay market report during the forecast period. The regions covered in the immunoassay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Are the Key Characteristics That Define the Immunoassay Market?
Immunoassay is a bioanalytical test that employs antibody attachment to antigens to detect and quantify specific chemicals. Diseases can be diagnosed using immunoassays. Furthermore, information from test findings concerning an illness may be used to establish a course of therapy. This technique relies primarily on a competitive binding response for a finite number of receptors on an extremely specific anti-analyte antibody between a set quantity of labeled versions of an analyte and a substantial portion of an unmarked sample analyte.
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