Immunodiagnostics Market- By Product (Reagents, Instruments, and Software & Services), By End User (Clinical Laboratories, Hospitals, Pharmaceutical & Biotechnology Industry, Diagnostic Centers, and Others), By Application (Oncology & Endocrinology, Hepatitis & Retrovirus, Infectious Disease, Cardiac Biomarkers, and Others), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Immunodiagnostics is a diagnostic methodology that based on the antigen antibody reaction as its primary means of detection. It is mainly used for detecting and diagnosing infectious diseases and chronic diseases including cancers, autoimmune disorders, cardiovascular diseases and hormonal disorders. The significant development of this technology has improved the diagnosis of complex diseases by targeting the areas to diagnose disease progression. It is also used to differentiation of compatible blood types with providing precise, quick and accurate results. The global market is projected to grow rapidly due to increasing incidence and prevalence of infectious diseases (respiratory infections, cancer, and HIV infection). The Immunodiagnostics Market accounted 16818.9 million USD in 2020 and will reach 27922.461 million USD by 2030 with a CAGR of 5.2% during the forecast period.

Market Segmentation:

Based on the product, the global immunodiagnostics market is divided into reagents, instruments, software & services. Depending on end user, the market is categorised as clinical laboratories, hospitals, pharmaceutical & biotechnology industry, diagnostic centers, and others. On the basis of application, the global market is segmented into oncology & endocrinology, hepatitis & retrovirus, infectious disease, cardiac biomarkers, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

An increase in incidence of infectious diseases, rising geriatric population and advances in diagnostic immunology are the major drivers for the growth of the global immunodiagnostics market. Moreover, rising adoption of point-of-care testing (POCT) and favourable initiatives undertaken by government and non-government organizations for research and investment in this therapeutics are some of the other factors which will drive the market during forecast time. Conversely, the stringent regulatory imposed by the government is responsible to restrain the market growth.  Additionally, technological advancement in diagnosis kits, assays and analyzers and growing awareness about the preventive health measures among the population are also boosting the growth of market during the next coming years. On the rather hand, the expansion of new applications and growth of automation and system integration are creating immense opportunities for the market growth during forecast timeframe. However, lack of skilled technicians of this testing is considered to be the challenge for market in upcoming years.

Geographic Analysis:

North America holds the largest revenue share in the global immunodiagnostics market. The government support towards these initiatives and rising investment in research and development (R&D) to find novel therapeutics and diagnosis methods for the treatment of aforementioned diseases is creating growth opportunities for the market in this region. Moreover, the OPKO Health Inc. received approval from the U.S. Food and Drug Administration to conduct a full prostate-specific antigen text with immunoassay analyser in 2017. Rising adoption of immunoassay analyzer will consist of minimal steps diagnostic procedure along with cost effectiveness. That turns in; increase the growth rate in the global market. Europe is expected to largest share in the market due to the rise in demand for immunodiagnostics tests, increase in geriatric population, high prevalence of chronic and infectious diseases. In addition, Asia pacific held  significant share accounted as USD 3.98 billion in 2017 and also  anticipated to fastest growing regional market, owing to rise in investments by various key players in the region, increase in awareness, developments in health care infrastructure, and favorable regulatory reforms  during the forecast time frame.  Latin America and the Middle East & Africa region is projected to moderate growth of the market during the forecast period, due to the increase in investments from market players and growing prevalence of immune diseases in these regions.

Competitive Scenario:

The key players of global immunodiagnostics markets are Abbott Laboratories, Roche Diagnostics, DiaSorin SpA, Danaher Corporation, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Quest Diagnostics, Thermo Fisher Scientific, Omega Diagnostics Group PLC, and Quest Diagnostics Incorporated.

Immunodiagnostics Market Report Scope