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Immunoassays Market - Growth, Trends, And Forecast (2019 - 2024)

Published on: Aug 2019 | From USD $4250 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 113

Market Overview

The immunoassays market is expected to register a CAGR of 9.7%, over the forecast period. Factors that are responsible for the growth of this market include cost-effectiveness, growth in the biotechnology and pharmaceutical sectors, and high sensitivity and specificity of immunoassays.

Compared to conventional tests, immunoassays have been proven to provide highly accurate results even with very small samples. These immunoassays are considered to have a detection limit of 1pg/ml, which can be attributed to the fact that immunoassays are based entirely on immunologic reactions. Immunologic reactions are highly specific, as they can take place only in the presence of proper immunologic agents. For instance, an antibody against a viral protein cannot bind with an antigen that is derived from bacteria. This high specificity indicates high accuracy in results, which enable high sensitivity in the detection of diseases. This high sensitivity not only helps in easy detection, but also eliminates the need for secondary verifications, which ultimately saves a lot of costs. Thus, the high sensitivity, specificity, and cost-saving nature of immunoassays are driving the growth of the immunoassays market. However, factors, such as complex assay procedures and limitations associated with immunoassays, may hinder the market growth.

Scope of the Report

Immunoassays are bioanalytical methods, in which the quantitation of the analyte depends on the reaction of an antigen (analyte) and an antibody.

Key Market Trends

Infectious Disease Segment, under Application, is Expected to Lead the Market

Immunoassays for infectious disease are expected to lead the market, and continue the same during the forecast period. This can be mainly attributed to the upsurge in the prevalence of infectious diseases, such as Lyme disease, salmonella infections, tuberculosis (TB), and meningococcal ailments cases. For instance, according to the Centers for Disease Control and Prevention (CDC), one-fourth of the worldŐs population is infected with TB. In 2017, there were approximately 10 million people, around the world, who were infected with TB, and 1.3 million deaths occurred due to TB, across the world. Therefore, utilization of immunoassays may help in detecting these diseases, which is anticipated to increase the market growth.

North America Dominates the Market and is Expected to do Same during the Forecast Period

Currently, North America dominates the market for immunoassays, and is expected to continue its stronghold for a few more years. In the North American region, the United States holds the largest market share. This can be majorly attributed to the increasing incidence rates of chronic disorders, infectious diseases, increasing number of geriatric population, as well as due to the well-developed healthcare infrastructure and increasing penetration of medical devices in the region. Moreover, high expenditure on R&D by government organizations and pharmaceutical companies, for disorders and diseases, such as chronic ailments and diabetes, are some of the primary factors driving the regional market.

Competitive Landscape

The immunoassays market is moderately competitive and consists of several major players. In terms of the market share, few of the major players currently dominate the market. With rising need for healthcare development and the advances in immunoassays, few other smaller players are expected to enter the market. Some of the major players of the market are Abbott Laboratories Inc., Becton Dickinson and Company, Danaher Corporation, Hologic Inc., and Qiagen NV, among others.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High Sensitivity and Specificity of Immunoassays
4.2.2 Cost Effectiveness
4.2.3 Growth in the Biotechnology and Pharmaceutical Sectors
4.3 Market Restraints
4.3.1 Complex Assay Procedures
4.3.2 Limitations Associated with Immunoassays
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Technology
5.1.1 Enzyme Immunoassay
5.1.2 Fluorescence Immunoassay
5.1.3 Chemiluminescence Immunoassay
5.1.4 Radioimmunoassay
5.1.5 Nephelometric Immunoassay
5.1.6 Other Technologies
5.2 By Therapeutic Area
5.2.1 Cardiology
5.2.2 Thyroid
5.2.3 Autoimmune Disease
5.2.4 Oncology
5.2.5 Infectious Disease
5.2.6 Hematology
5.2.7 Allergy
5.2.8 Other Therapeutic Areas
5.3 By End User
5.3.1 Hospital and Centralized Laboratories
5.3.2 Pharma and Biotech Firm
5.3.3 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East & Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East & Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories Inc.
6.1.2 Becton Dickinson and Company
6.1.3 Danaher Corporation
6.1.4 Devon Medical Products
6.1.5 EDP Biotech Corporation
6.1.6 Hologic Inc.
6.1.7 Luminex Corporation
6.1.8 Meridian Life Science Inc.
6.1.9 Qiagen NV

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

SECONDARY RESEARCH
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PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

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