(PharmaNewsWire.Com, February 14, 2017 ) The global immunoassay market is expected to witness a good growth during the forecast period, due to the increasing incidences of infectious and chronic diseases. The rapid development of novel assays for detection of various autoimmune diseases such as oncology and cardiology, combined with the increasing use of immunoassays in drug discovery and toxicology testing, are also expected to further fuel the growth of immunoassay market during the forecast years.Immunoassays Market is projected to reach USD 26.22 Billion by 2021, at a CAGR of 9.80 % from 2016 to 2021.
Immunoassay is a biochemical test to measure the presence and concentration of an macromolecule. The macro molecule can be large proteins or antibodies that a person has produced as a result of an invasion of foreign matter. These assays are more adaptable and can be applied to various formats reliant on the needs of the end user. Various technologies of immunoassays include enzyme-linked immunosorbent assay (ELISA), enzyme linked fluorescence, chemiluminescent immunoassay, immunofluorescence, radioimmunoassay and other similar techniques.
The Key drivers of the market are rising prevalence of infectious diseases, increasing ageing population, advancements in novel assays in various diseases such as Cardiology and oncology, growing applications in diagnosing drug monitoring tests, infectious diseases and identification of cancer biomarkers, increasing need of reagents, sensitive assays and analytical techniques, availability of wide range of reagents, introduction of novel biomarkers, growing government and corporate investment in the pharmaceutical and biotechnology segment in emerging markets. Lack of reimbursement policies, adoption of immunoassays in emerging markets, stringent regulations for storage are hindering the growth of the market.
Some of the major companies dominating the global market are Roche Diagnostics, DiaSorin S.p.A, Beckman Coulter, Siemens Healthcare, Ortho Clinical Diagnostics, bioMerieux, Thermo Fisher Scientific and Abbott Laboratories, Akers Biosciences, Inc, Becton Dickinson and Company, Devon Medical Products, EDP Biotech Corporation, Hologic (Gen-Probe), Intrinsic LifeSciences.
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