Global Immunoassay Market Analysis, Trends and Future Outlook Report

Posted by Marsh William on April 4th, 2019

The Global Immunoassay Market is anticipated to witness strong growth in the years to come due to rising incidence of chronic and infectious diseases. Rapid globalization has resulted in the transfer of several types of viruses, pathogens, and bacteria. Growing cases of hospital acquired infections, along with unhealthy sanitation practices in daily life, are also responsible for the spread of infections. In addition, rising occurrence of diseases, including Zika, Ebola, and other contagious pathogens, is expected to support market growth in the years to come.

Rapid expansion of the biotechnology and biopharmaceutical sectors is anticipated to drive the market. Immunoassays offer accurate results regardless of small samples than traditional tests. They find widespread applications in therapeutic drug monitoring, disease diagnosis, clinical pharmacokinetics, and bioequivalence in drug discovery and pharmaceuticals.

Technological advancements in immunoassay instruments are projected to have a positive impact on market growth. Automated instruments and equipment in laboratories are increasingly replacing manually operated units as they offer advantages, such as quick results, and requirement of less space and labor.

Development of novel assays for various autoimmune conditions, such as oncology and cardiology, is likely to supplement market growth. Additionally, increasing application in diagnosing drug monitoring tests, infectious diseases, toxicology testing, and discovery of biomarkers is anticipated to increase the demand for immunoassay in the years to come. Rising demand for non-invasive diagnostics methods, analytical testing, and growing need for reagents are also expected to create growth opportunities for the market.

However, complexity in the manufacturing of immunoassays and complex assay procedures can challenge the market. In addition, limit of detection (LOD) for most of the immunoassays is limited, which is expected to restrain market growth in the coming years.

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