Immunoassay Market Worth $46.49 Billion by 2028
Immunoassay Market by Product & Solutions (Immunoassay Kits {ELISA, Rapid Tests}, Immunoassay Analyzers, Software & Services), Platform (Chemiluminescence, Radioimmunoassay), Application (Infectious Diseases, Oncology, Allergy), End User – Forecast to 2028
London, Jan. 18, 2022 (GLOBE NEWSWIRE) — According to a new market research report “Immunoassay Market by Product & Solutions (Immunoassay Kits {ELISA, Rapid Tests}, Immunoassay Platform, Software & Services), Platform (Chemiluminescence, Radioimmunoassay), Application (Infectious Diseases, Oncology, Allergy), End User – Forecast to 2028”, published by Meticulous Research®, the immunoassay market is expected to grow at a CAGR of 7.5% from 2021 to reach $46.49 billion by 2028.
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Immunoassays are bioanalytical methods that use the specificity of an antigen-antibody reaction to detect and quantify target molecules in biological samples. These methods are frequently used in clinical diagnostics, drug discovery, drug monitoring, and food testing. Immunoassays have played a vital role in pharmaceutical analysis, such as diagnosis of diseases, therapeutic drug monitoring, clinical pharmacokinetics, and bioequivalence studies in drug discovery and pharmaceutical industries. The immunoassays industry is growing steadily due to various factors such as increased research and diagnosis for infectious disease testing as new pathogen strains develop each year. The market comprises kits & reagents, systems or analyzers, and software and services that can detect diseases or other conditions and can be used for research activities.
The immunoassay market is primarily segmented by product & solutions, platform, application, end user, and geography. The study also evaluates industry competitors and analyzes their market share at the global and regional level.
On the basis of product and solutions, the immunoassay kits and reagents segment accounted for the largest share of the overall immunoassay market in 2021. The largest share of this segment was mainly attributed to increasing number of immunoassay tests being performed globally, leading to recurrent purchases of kits and reagents, increasing focus on vaccine development to address challenges such as antimicrobial resistance and pandemics, and technological advancements in ELISpot assay kits. Furthermore, increase in demand for immunoassay based COVID-19 testing products along with cost-effectiveness of these products is likely to expand the growth of immunoassay kits and reagents segment in the upcoming years.
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On the basis of platform, the chemiluminescence immunoassays segment accounted for the largest share of the overall immunoassay market in 2021. Factors such as increasing adoption of…