Immunoassay Instruments/Analyzers Market Size, Share, Growth and Industry Research Report to 2024
by Susan Hill Business ConsultantThe
global immunoassay instruments/analyzers market was valued at
USD 14.7 billion in 2015 and is expected to reach a value of USD 23.3 billion
by 2024. The prime factors driving the immunoassay analyzers market growth
include constant introduction of advanced products. In addition, growing
clinical applications for investigation and diagnosis of various chronic and
related infectious diseases is expected to drive the growth of the immunoassay
instruments market.
The industry
is rapidly growing due to the constant introduction and adoption of automated
as well as advanced techniques for laboratory instruments and analyzers in
developed countries. Rising prevalence of infectious diseases and chronic
conditions, which require early diagnosis, prevention, and treatment, is one of
the main factors boosting the demand for immunoassay analyzers and compact
consumable products in the healthcare sector. In addition, industry is gaining
speed with the launch of innovative products such as compact and portable
ichroma II of Boditech Med, Inc., which is an FDA-approved fluorescence
scanning instrument. Moreover, with the U.S. FDA approval of the iStat cardiac Troponin
I test cartridge that uses enzyme-linked immunosorbant assay (ELISA) method,
commercialization of such immunoassay
products is also expected to increase significantly over the next few
years.
In North
America, the government authorities and private companies have significantly
contributed toward development of technology, supported research funding, and
helped in commercialization of immunoassay analyzers and associated
instruments. For instance, in June 2016, Abbott diagnostic launched Architect i1000SR,
an automated immunoassay instrument that works on the principle of
chemiluminescence. Using this system, number of different assays can be
performed in a very short time.
Further Key
Findings from the Study Suggest:
- Rapid adoption
of advanced technology and automation of laboratory work flow, laboratory
instruments, and analyzers is expected to fuel the market growth with CAGR
of around 5% over the forecast period.
- Consumables
segment was the largest revenue generating space with over 70% market
share in 2015. Repeated purchase of consumables and portable point-of-care
kits have contributed to its growth, thus capturing the largest revenue
share.
- In 2015, North
America captured the largest revenue share of around 37% of the global
market. The continuous research on treatment
of infectious diseases and subsequent grants from government
healthcare agencies are contributing toward the development of a potential
market for the expansion of immunoassay analyzers in the region.
- Asia Pacific is
expected to rise as the fastest growing region during the forecast period.
The growing geriatric population in India, China, and Japan has led to the
increase in the prevalence of infectious diseases, such as tuberculosis,
cholera, typhoid, and various chronic conditions, such as cancer and
autoimmune diseases, thereby promoting the utilization of immunoassays in
the region.
- The immunoassay
instruments sector is dominated by a few key participants, such as Abbott
Laboratories, bioMerieux, Inc. and Roche Diagnostics. Some of the other
prominent players operating in the market include, but are not limited to,
Becton Dickinson & Company; Diasorin S.p.A; Bio Rad Laboratories; and
Siemen Healthcare GmbH. Introduction and adoption of automated systems and
innovative designs is expected to intensify the competition by changing
the industrial framework over the forecast period.
Grand View
Research has segmented the immunoassay instruments/analyzers market by product,
application, and region:
Immunoassay
Instruments Market Product Outlook (Revenue in USD Million, 2013 - 2024)
- Chemiluminescence
immunoassay
- Immunofluorescence
analyzers
- Radioimmunoassay
- Enzyme-linked
Immunoassay
- Consumables
Immunoassay
Instruments Market Application Outlook (Revenue in USD Million, 2013 - 2024)
- Therapeutic
drug monitoring
- Oncology
- Cardiology
- Endocrinology
- Infectious
disease testing
- Autoimmune
disease
Immunoassay
Instruments Market Regional Outlook (Revenue in USD Million, 2013 - 2024)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- Middle East and
Africa
- South Africa
Access full
research report on global immunoassay
instruments/analyzers market:
http://www.grandviewresearch.com/industry-analysis/immunoassay-instruments-analyzers-market
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Created on Jul 30th 2019 08:32. Viewed 373 times.