The global immunoassay instruments market is expected to witness considerable growth during the forecast period, mainly due to the rising prevalence of chronic and infectious diseases around the globe. Immunoassay is a laboratory based diagnostic procedure, that is performed using an immunological reaction of antibodies. The formation of antibody antigen complexes in blood samples and other body fluids, are measured by immunoassay instruments and are usually engaged to detect analytes in quantitative or qualitative manner.
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ELISA, radioimmunoassay, rapid tests, PCR, western blot, and ELISPOT are the major technologies on which the immunoassay instruments are based. The study reveals that among these technologies, ELISA held the largest share in the immunoassay instruments market in 2017, due to the wide adoption of this testing technique for detecting chronic and infectious diseases. ELISA is further sub-categorized into 1st generation, 2nd generation, 3rd generation, and 4th generation ELISA tests.
North America held the largest share in the global immunoassay instruments market in 2017, due to the expanding biotechnology and pharmaceutical industries, rising prevalence of chronic diseases, technological advancements, and adoption of automated platforms for immunoassay testing in the region. Furthermore, the region is pronounced with the presence of major players, which also supports the growth of the market demand.
Factors driving the immunoassay instruments market include discovery of specific biomarkers, extensive use of immunoassays in oncology, rising geriatric population, and the growing preference for personalized medicine. Increasing research activities focused on exploring the potential application of immunoassay tests in identifying infectious diseases, toxicology testing and other drug monitoring tests are some other factors that are expected to drive the market growth in the coming years. Furthermore, the key market players are continuously involved in the development of compact, reliable and portable products, as a result of technological advancements, which is also supporting the market demand.
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Some of the other key players in the immunoassay instruments market are Beckman Coulter, Inc., F. Hoffman-La Roche, Ltd., Thermo Fisher Scientific Inc., Ortho Clinical Diagnostics, BioMerieux, Inc., Abbott Laboratories, Sysmex Corporation, DiaSorin S.p.A., Siemens Healthcare, and Merck Millipore Corporation.
Source: P&S Intelligence