Report Code: LS10160 | Available Format: PDF
Immunoassay Instruments Market Overview
The global immunoassay instruments market is expected to witness considerable growth during the forecast period, mainly due to the rising prevalence of chronic and infectious diseases around the globe. Immunoassay is a laboratory based diagnostic procedure, that is performed using an immunological reaction of antibodies. The formation of antibody antigen complexes in blood samples and other body fluids, are measured by immunoassay instruments and are usually engaged to detect analytes in quantitative or qualitative manner.
ELISA, radioimmunoassay, rapid tests, PCR, western blot, and ELISPOT are the major technologies on which the immunoassay instruments are based. The study reveals that among these technologies, ELISA held the largest share in the immunoassay instruments market in 2017, due to the wide adoption of this testing technique for detecting chronic and infectious diseases. ELISA is further sub-categorized into 1st generation, 2nd generation, 3rd generation, and 4th generation ELISA tests.
These products are being used in various medical areas, such as oncology, endocrinology, autoimmune disorders, infectious diseases, cardiology, therapeutic drug monitoring, and others. Infectious diseases was the largest application area for immunoassay instruments, owing to the increasing burden of such diseases particularly in developing countries. According to the World Health Organization (WHO) estimates, globally, of every 100 hospitalized patients at any given time, seven in developed and 10 in developing countries will acquire at least one health care-associated infection, this further substantiates the leading position of this application category. Thus, the growing volume of patients with infectious diseases is predicted to result in high demand of immunoassay instruments, globally.
On the basis of end user, the immunoassay instruments market can be categorized as laboratories, academic research centers, hospitals, ambulatory centers, blood banks, physician’s offices, biotechnology companies, pharmaceutical companies, and patient self-testing. The large pool of patients visiting hospitals for tests leads to the high consumption of immunoassay instruments by this end-user category.
North America held the largest share in the global immunoassay instruments market in 2017, due to the expanding biotechnology and pharmaceutical industries, rising prevalence of chronic diseases, technological advancements, and adoption of automated platforms for immunoassay testing in the region. Furthermore, the region is pronounced with the presence of major players, which also supports the growth of the market demand.
However, increasing support by the government of developing economies, such as India, and China, is expected to drive the pace of the Asia-Pacific (APAC) immunoassay instruments market in the coming years. For instance, indo-U.S. bilateral collaborative research grants on human immune phenotyping and infectious disease, an indo-U.S. vaccine action program, provides funding opportunity for researchers to conduct a collaborative research on human immunophenotyping studies. Such initiatives are expected to promote the growth of the APAC market during the forecast period.
Immunoassay Instruments Market Dynamics
Factors driving the immunoassay instruments market include discovery of specific biomarkers, extensive use of immunoassays in oncology, rising geriatric population, and the growing preference for personalized medicine. Increasing research activities focused on exploring the potential application of immunoassay tests in identifying infectious diseases, toxicology testing and other drug monitoring tests are some other factors that are expected to drive the market growth in the coming years. Furthermore, the key market players are continuously involved in the development of compact, reliable and portable products, as a result of technological advancements, which is also supporting the market demand.
It has been observed that the geriatric population is more prone to various types of infections due to their low level of immunity. As per United Nations Department of Economic and Social Affairs (UNDESA) report, the number of people aged 60 years or over is projected to grow by 56%, globally, i.e. from 901 million in 2015 to 1.4 billion by 2030. Also, by 2050, the global aging population is projected to reach about 2.1 billion. In addition, the number of people aged 60 years and above are expected to reach approximately 437 million in China, 324 million in India by 2050. This rising geriatric population will eventually boost the growth of immunoassay instruments market.
Globally, the rising government support to conduct research activities with focus on the development of novel biomarker assays is expected to boost the growth of the market. For instance, according an article published on Plos ONE journal, in July 2017, a study was funded by the Arthritis Research UK project grant for the development and validation of novel biomarker assays for diagnosing osteoarthritis.
However, the implementation of excise duty by the U.S. government and high cost associated with technologically advanced immunoassay systems are hindering the development of the immunoassay instruments market to some extent.
Immunoassay Instruments Market Competitive Landscape
Market players, through the acquisition of other similar companies, are strengthening their position in the immunoassay instruments market. For instance, in April 2018, bioMérieux SA, announced the acquisition of Astute Medical Inc., involved in improving the diagnosis of high-risk medical conditions and diseases through the identification and validation of protein biomarkers. The acquisition was intended to enhance bioMérieux SA’s immunoassay biomarkers offerings.
Some of the other key players in the immunoassay instruments market are Beckman Coulter, Inc., F. Hoffman-La Roche, Ltd., Thermo Fisher Scientific Inc., Ortho Clinical Diagnostics, BioMerieux, Inc., Abbott Laboratories, Sysmex Corporation, DiaSorin S.p.A., Siemens Healthcare, and Merck Millipore Corporation.
The study provides historical as well the forecast market size data for various countries including the U.S., Canada, Germany, U.K., France, Italy, Spain, China, Japan, India, and Brazil.
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