Discover trends, market shifts, and competitive outlooks for the immunoassay industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

#What is the Anticipated CAGR of the Immunoassay Market, and What Factors Will Drive It?

The market size of immunoassay has experienced robust growth in the recent years. The market, which was standing at $35.81 billion in 2024, is expected to reach $37.63 billion in 2025, expanding at a compound annual growth rate (CAGR) of 5.1%. The past period’s growth is associated with factors like disease prevalence, an aging population, incidences of infectious disease, point-of-care testing, and an increase in research funding.

The market size of immunoassay is anticipated to witness robust expansion in the forthcoming years. The market is projected to reach a valuation of $50.12 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.4%. This growth during the forecast period can be contributed to factors like personalized medicine, emergent market growth, readiness for pandemics, cancer diagnostic methodologies, and transition to home-based testing. The forecast period is also seeing trends such as regulatory harmonization attempts, all-purpose immunoassays, tailored assay services, unification with wearable gadgets, and downsizing of assays.

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What External and Internal Drivers Are Contributing to the Growth of the Immunoassay Market?

The rise in cases of chronic and infectious diseases is predicted to drive the growth of the immunoassay market in the foreseeable future. Chronic diseases are generally defined as those that persist for more than a year, require consistent medical attention, limit daily activities, or both. Infectious diseases result from organisms such as bacteria, viruses, fungi, or parasites. Many such organisms live on the human body, and numerous infectious diseases can spread from one individual to another. Immunoassay is used to identify many infectious and chronic diseases. According to a study by the National Institutes of Health (NIH), a biomedical research institution based in the US, the population of people aged 50 and above with at least one chronic illness in the United States in 2023 is expected to surge by 99.5%, from 71.522 million in 2020 to 142.66 million in 2050. Moreover, the number of people suffering from multimorbidity is forecasted to increase by 91.16% from 7.8304 million in 2020 to 14.968 million in 2050. Consequently, the rise in chronic and infectious diseases is stimulating the growth of the market.

What Segment Types Define the Immunoassay Market Structure?

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

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Which Geographic Areas Hold the Strongest Growth Potential 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 Long-Term Trends Are Transforming the Competitive Landscape of the Immunoassay Market?

Product innovation is a leading trend currently being observed in the immunoassay market. Major players in the market are concentrating their efforts on developing new products in a bid to solidify their market positioning. For example, Getein Biotech Inc., a biotech firm based in China that specializes in the production, sales, servicing, and research and development of in vitro diagnostic reagents and instruments, introduced MAGICL 6000 at MEDICA 2022 in November the same year. The MAGICL 6000 is a state-of-the-art, portable chemiluminescence immunoassay analyzer that is ideal for laboratories that require a one-step chemiluminescence solution for medium to high volume workflows. Despite its small size, the device is remarkably efficient, fully automated, and boasts the fastest testing rate in its category.

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What Is the Definition of 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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