Immunodiagnostics Market likely to touch new heights by end of forecast period

Posted by Vedika on April 25th, 2021

The Global Immunodiagnostics Market held USD 13.91 billion in 2019 and is predicted to reach USD 31.46 million by 2030 with a CAGR of 7.7% from 2020-2030.

Immunodiagnostics is a method to diagnose the disease on the basis of antigen-antibody reactions. It is a primary means for diagnosing infectious disease, chronic diseases such as cancer & cardiovascular diseases, autoimmunity diseases, and among others. It has enhanced the ability to target the areas to diagnose disease progression. The major advancement in immunodiagnostics has improved diagnosis of the complex interactive network. Also, the increase in incidence and prevalence of infectious diseases and growing awareness about immunodiagnostics has further increased the immunodiagnostics market size.

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Top Companies: Johnson & Johnson, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Abbott Laboratories, Immunodiagnostic Systems Holdings Plc, DiaSorinS.p.A, Siemens AG, Sysmex Corporation, Danaher Corporation, Arkray, Inc and others.

The immunodiagnostics market is segmented on the basis of product, technology, downstream, and geography. On the basis of product, the market is segmented into reagents, instruments, and software & services. On the basis of technology, the market covers enzyme-linked immunosorbent assay, chemiluminescence immunoassay, fluorescent immunoassay, radioimmunoassay, rapid test, and others. On the basis of downstream, the market is classified into clinical laboratories, hospitals, academic and research centers, pharmaceutical and biotechnology industry, and others. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and ROW.

North America region holds the highest immunodiagnostics market share in immunodiagnostics market and is anticipated to hold the highest market share during the forecast period. This is attributable to the factors including demand for immunodiagnostics tests, increasing geriatric population, the high prevalence of chronic and infectious diseases, and high consumer awareness. Asia-Pacific region is expected to grow with the highest CAGR during the forecast period owing to improvement in the public & private healthcare facility, favorable regulatory reforms, the presence of large population pool, and increasing chronic diseases.

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