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Immunodiagnostics Market Growth Forecast 2024-2033: What’s the Expected Rate?

The size of the immunodiagnostics market has significantly expanded in the last few years. We anticipate its growth from $21.3 billion in 2023 to $22.9 billion in 2024, realizing a compound annual growth rate (CAGR) of 7.5%. The upsurgence during the historical period can be credited to factors such as the escalating occurrence of infectious diseases, an increase in autoimmune diseases, the diagnosis and monitoring of cancer, the global spread of infectious diseases, and the initiation of public health campaigns and screening programs.

The immunodiagnostics market is predicted to experience considerable expansion in the following years, growing to a size of $30.9 billion in 2028, with a compound annual growth rate (CAGR) of 7.8%. This projected growth within the forecast period can be linked to pandemic readiness and response, personalized medicine and biomarker discovery, improvement of healthcare infrastructure in developing markets, incorporation with laboratory information systems, and an increasing prevalence of chronic diseases. Key trends over the forecast period include the application of multiplexing technologies, adoption of point-of-care testing (poct), biomarker discovery and personalized medicine, the emergence of digital immunodiagnostics, and a shift towards liquid biopsy.

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What Factors Are Impacting the Growth of the immunodiagnostics Market?

The surge in infectious disease occurrences is set to fuel the growth of the immunodiagnostics market. Infectious diseases encompass conditions that are spread among people, caused by agents like viruses, bacteria, fungi, or parasites. The process of immunodiagnostic screening is employed to spot a virus in a blood specimen. As such, the escalating rate of infectious diseases is anticipated to fuel the immunodiagnostics market. For example, a report in July 2022 by the Australian Institute of Health and Welfare, an agency based in Australia providing data and statistics on the country’s health and well-being, revealed that there were over 471,000 reported cases of COVID-19 in Australia in 2021. Additionally, there were around 86,000 cases of chlamydia, a sexually transmitted disease, and campylobacter cases, a type of gastrointestinal disease, rose to 37,000 in the same year. Consequently, the rise in infectious diseases is propelling the immunodiagnostics market growth.

What Are the Fundamental Segments in the Immunodiagnostics Market?

1) By Product: Reagents And Consumables, Instruments, Software And Services

2) By Technology: Enzyme-Linked Immunosorbent Assay, Chemiluminescence Immunoassay, Fluorescent Immunoassay, Radioimmunoassay, Rapid Test, Other Technologies

3) By Application: Infectious Diseases, Oncology And Endocrinology, Bone And Mineral Diseases, Autoimmunity Disorders, Cardiac Biomarkers, Drug Monitoring, Other Applications

4) By End User: Hospitals, Clinics, Diagnostic Laboratories, Academic And Research Institutes, Other End Users

What Trends Are Shaping the New Direction of the Immunodiagnostics Market?

The immunodiagnostics market is witnessing significant growth due to technological advancements, a trend that is gaining notable traction. Leading companies within this market are pursuing technology advancements as part of their strategy to maintain their market standing. In one such example, Cavidi AB, a Swedish firm specializing in viral load solutions for HIV monitoring, introduced a groundbreaking technology called Exazym in May 2021. This technology, designed to enhance the sensitivity of conventional immunodiagnostic assays, allows such tests to reach unprecedented detection levels. The implementation of Cavidi Exazym promises to enhance ongoing and future healthcare research, health screening and diagnostic tests. By enabling the detection of biomarkers that previously couldn’t be detected with existing diagnostic methods, Cavidi Exazym is paving the way for early treatment initiation, even before severe illness sets in.

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Which Regions Are Making a Mark in the Immunodiagnostics Market Growth?

North America was the largest region in the immunodiagnostics market in 2023. The regions covered in the immunodiagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Immunodiagnostics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the immunodiagnostics market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Immunodiagnostics Market Include

1. Immunodiagnostics Market Executive Summary

2. Immunodiagnostics Market Segments

3. Immunodiagnostics Market Size And Template Market Growth Rate

4. Key Immunodiagnostics Market Trends

5. Major Immunodiagnostics Market Drivers

……

25. Key Mergers And Acquisitions In The Immunodiagnostics Market

26. Top Immunodiagnostics Companies

27. Immunodiagnostics Market Opportunities And Strategies

28. Immunodiagnostics Market, Conclusions And Recommendations

29. Appendix

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