Rising Hospital Admissions amid COVID-19 Pandemic to fuel Chemiluminescence Immunoassay

Chemiluminescence immunoassay is a biomedical technique extensively used in immunology and it is a variation of the standard enzyme immunoassay. They also find wide application medical sectors as well as other industries with diverse applications. These analyzers include various types of products such as reagents, analyzers, and consumables.

Diagnostic technology is going through major transitions and the world is heading towards to automation of diagnostic laboratories. The whole world is witnessing a major outbreak of COVID-19 and it’s leading to a substantial rise in the demand for central laboratory tests and point of care tests that encourages the adoption of chemiluminescence immunoassay analyzers.

Growing awareness regarding the faster diagnosis of chronic diseases coupled with the increasing drug development activities is driving the market growth. Changing trends in terms of busy lifestyles as well as eating habits have resulted in an increase in the cases of cancer and other cardiovascular diseases, which in turn drives demand for the market.

In addition to this, other key factors such as large sample processing capacity, minimum labor requirement, quick validation facility, and high throughput are expected to create a positive impact on the market. The number of tests conducted with the use of chemiluminescence immunoassay analyzers is projected to increase with the rapid technological advancements in diagnostic techniques and the rising demand for precautionary diagnosis.

• Based on product type, the consumables dominating the market with over 70% out of the total market share. The segmented is predicted to keep its dominance during the forecast period owing to rising demand for consumables such as stains and reagents in the field of endocrinology and therapeutic drug monitoring.
• In terms of application, the segment of infectious disease held the largest revenue share and is expected to grow further in the same manner over the forecast period. The growth is attributed to the increasing use of chemiluminescence immunoassay assays during the diagnosis procedures for infectious diseases.
• By end-user, the hospital emerged as the most promising segment and contributed the major revenue share. Increasing hospitalization rate on account of rising cases of novel coronavirus is anticipated to boost the demand for chemiluminescence immunoassay solutions in hospital settings.
• Based on regions, North America accounted for the major revenue growth owing to a substantial rise in the adoption of multiplexing diagnostic tools along with increasing investment for the development of such tools. Favorable government policies are further supporting the regional market growth.
• A regional market of Asia Pacific is estimated to grow at the fastest CAGR owing to growing awareness among the regional population regarding chronic diseases, especially in emerging countries such as India and China. Additionally, increasing approval from regulatory bodies and the launch of effective chemiluminescence immunoassay systems driving regional growth.
• Rising investments in R&D activities and major launches of technologically equipped chemiluminescence immunoassay solutions are some of the key strategies driving success for the leading players operating in the chemiluminescence immunoassay market.
• Key market players include Maccura Biotechnology Co., Hoffmann-La Roche AG, Beckman Coulter Inc., Ltd, Siemens Healthineers, Immunodiagnostic Systems, Abbott Laboratories, Ortho Clinical Diagnostics, DiaSorin S.p. A., and Inova Diagnostics, Inc.,
• DiaSori, a leading Italian multinational biotechnology company has received FDA’s approval as Emergency Use Authorization it’s a new test designed for the diagnosis of COVID 19 that is based on chemiluminescence immunoassay technology.

Deep-dive Insights on Chemiluminescence Immunoassay Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/chemiluminescence-immunoassay-market